₦airaland Forum

This is rich coming from NOI. A woman that was given the opportunity twice to make a difference and yet she not only watched corruption thrive under her nose, she also enabled it.


She can give her advise to the Marines.

TheBiafran:
we are self made
we are igbos
we are now going back home to invest
we dont need bailout funds
we are the reason the zoo has any respect
soon we will be on our own
and the zoo must fall

Lmao. I just knew I was going to find a post like this.

Above poster summed it up.

There is something called tact which we observe but at the same time we give you a medium to display your opulence when we throw owambe. But displaying avarice on a daily basis is frowned upon.

People are rejoicing about a MOU or an actual golf course?

Regression.

Yoruba parapo by extension.

Dumb post.

Having critical thinking faculty should be a requirement for starting new threads.

anonimi:
Please sir, who gave Buhari and Osinbajo the budget they have been using to travel round the world
Na you?



www.nairaland.com/attachments/3488385_gk016_jpega153e6cea71b84eb21517735f889737c

They are using my travel miles

blithe2nice:
He should start working and putting things in place. He was not appointed as inspection minister.Like seriously,I'm yet to see his handwork as minister of power.Abi he no get power sef?

Have you given him a budget yet?

.

wordychap:
today its 40 dollars for a barrel
Hope subsidy on fuel will return as d price is rising

No to subsidy.

Government should never ever subsidize consumption ever!

hardbody:
In management you reward result not effort. Even in the extant case, the effort here exhibited shows that the guy is a terrible panel beater. He can't fix simple body parts and make them straight.

And we there hailing him because his helicopter drives from place to place, just the way copters are made to drive.

For the records copters just take off and land. They don't taxi

Ok, I have to spell this out. When you commend someone for his effort, it usually means he sucks.

Rossikk:
What is so mysterious about your stup.id phrase, "It's the effort that counts"? You sure need a brain to know what real effort is, you ignorant twerp.

Still don't get it?

Go suck on a lemon.

Rossikk:
Don't be silly. What 'effort' did you see there? Have you asked a single question about the interior of that thing? Just because something is shaped like a helicopter on the outside doesn't mean any engineering took place on the inside.

Understand the phrase I posted before replying me. Get a clue and a brain while you are it.

Nigeria is a sick joke. We export our crude to them, well when they were still buying, and import refined products from our customers. To even think we import LPG, when we constantly flare ours! Sick and twisted country.

It's the effort that counts.

Positive thread. Keep it going guys.

Smh.

Same people will complain about bad economy and no power and they encourage wanton bombing of oil and gas pipelines. They should have nipped this issue in the bud a long time ago. Now the smartest way out of this should be dialogue.

Useless governor. His mates are launching projects or commissioning finished projects. All he does is attend to useless olubadan affairs and weddings.

You want power yet you encourage vandals.

Una never begin suffer.

It's at CBN or whoever CBN kept it with. We have 21.37 tons of gold reserves. Selling it now will be at a loss since gold prices has dropped.

Ok you are now free to go.

Case closed. Welcome to Southern Nigeria.

jaybee3:
What's the meaning of Mega again?

Lolz

zuchyblink:
Onshore exploration is cheaper than offshore exploration but this bigots left it because they are afraid of Igbo domination. Come to Imo state and see oil fields lying dormant. Places like owerri muni.,Obowo,oru east,oru west,ohaji/egbema,Oguta,Ngor okpala,Ikeduru etc

Lol. Funny shit.

What stops all the numerous SE indigenes that own oil companies from buying a lease and drilling for oil.

You guys always ask for it.

Last2comment:
Lack of clear economic direction, a corrupt free budget scares investors.

The main reason investors are holding back is due to the artificially maintained exchange rate. They are waiting for you guys to devalue so they can pick up assets at a discount.

Blowing up of gas installations, kidnapping, killings in Nigeria scare foreign investors – Buhari

By Levinus Nwabughiogu

ABUJA – President Muhammadu Buhari on Sunday stated that deliberate explosions, kidnapping and killings in the country were the principal reasons why foreign investors get scared from coming to the country.

The president who spoke during at a town hall meeting with members of the Nigerian community in Doha, Qatar charged Nigerians to be good ambassadors of their country.

He stated that patriotism was what the country needed to grow.

He however said that the Federal Government would continue to create the enabling environment anchored on peace and security for investments in the country.

“We have abundant natural and human resources in the country, including huge oil and gas deposit.

“But the challenge is securing those installations and to persuade some of our countrymen to be more patriotic and stop sabotaging the installations.

“When people are being abducted and some are being murdered, when installations are being blown up now and then, the incentives for people to invest in our infrastructure is quite slim’’.

A statement by Mr. Femi Adesina, the presidential spokesman from Doha on Sunday stated the President Buhari also promised to look into the complaints of alleged blanket denial of visas to families and relatives of Nigerians intending to visit the State of Qatar.

“Like I tell other Nigerians living in other countries, you must be good ambassadors of the country because globally things are quite difficult in terms of security and the economy. “If you have something doing, please hold it tight to your heart and try to improve on it because things are quite difficult all over.

“For us in Nigeria, we are trying to do our best to reduce unemployment and we realised this quite early enough, that is why we campaigned on the diversification of the economy. “We have to go back to agriculture, like in the good old days of cocoa, palm oil, palm kernel, cottons, groundnuts, hides and skins’’.

On the fight against terrorism, the President told Nigerians living in Qatar that the military have made remarkable progress in dislodging Boko Haram terrorists from their previous strongholds in the North eastern part of the country.

“When we came in May 2015, the Boko Haram were effectively holding 14 local governments out of 774 local governments in Nigeria but today they are not holding a single local government,’’ he said.

He said the military and law enforcement agencies were working very hard to prevent and counter Boko Haram attacks on soft targets in the country.

Read more at: http://www.vanguardngr.com/2016/02/blowing-up-of-gas-installations-kidnapping-killings-in-nigeria-scare-foreign-investors-buhari/

Well they are always welcome to invest in other peaceful regions of the country. The "sophisticated area".

Ohafia-Arochukwu Federal Road.

Contract awarded but road not built

https://www.channelstv.com/wp-content/uploads/2014/07/Arochukwuu.jpg

https://infrastructurewatchng.com/images/iwgallery/arochukwu_ohafia.jpg

**Crickets**

I support the move just because I never supported the NGN5000 stipend in the first place. It's going to create an entitlement and dependency time bomb that will be difficult to implement, difficult to support and eventually difficult to withdraw.

I'd rather see Buhari subsidize production activities such as farming and artisanal or vocational skills acquisition/

kingphilip:
seems u concluded with the first line

I'm a corper receiving just 19800
Do the maths if u get one for 3000 hw much will remain from it

Spare me the bullshit of saving for several months

N don't forget the one I'm buying is made in Nigeria too at a better price and also it serves me well

BTW hope you've gotten one already for yourself or u r here just to comment

In that case you no suppose reply to the thread. If I see people talking about things I can't afford, I'd admire from a distance and move on. At your stage in life you should be more focused on other things in life.

Oil firms’ cash flows worsen, banks jittery – Punch
FEBRUARY 26, 2016 BY ABOKIFX


Nigerian indigenous oil and gas firms are recording negative cash flows as the plunge in global oil prices lingers, a development that has sent shivers down the spines of many banks.

Nigerian banks have in recent years increased their exposure to the nation’s oil and gas sector, providing financing for asset acquisitions and development by indigenous firms.

Industry players, who spoke at the 13th Aret Adams Annual Lecture Series in Lagos on Thursday, lamented that the low oil price had severely affected their operations, leading to huge cuts in capital expenditure and affecting their ability to repay loans.

The Managing Director and Chief Executive Officer, Seplat Petroleum Development Company Plc, a major Nigerian independent oil and gas firm, Mr. Austin Avuru, said, “Exploration and production companies are now constrained. I think the banks are more nervous than the operating companies in Nigeria.

“We saw a profit warning yesterday (Wednesday) from First Bank describing impairments that are likely to erode their P&L bottom line when they publish their 2015 results. That is a warning to shareholders and investors and that is because of their exposure to the upstream segment of the oil and gas industry.”

He said exploration investments had almost dried up, adding that the implications would become evident later as addition to reserves would flatten out.

Avuru said, “When people ask me how we are doing, I say we are under water. If you can survive at the end of 2017 under this regime, you will be in business for all time. I suspect that there will be a lot of dead bodies by the end of 2017.

“The biggest problem with the independents is that we are all heavily leveraged. You borrowed to buy our assets. You borrowed to work the assets, and deployed critical capital expenditure so that you can ramp up production; so that you can repay your debts. Then came the drop in price. You cannot grow production because you don’t have the free cash flow to do that. You need production, even more production in this price regime.

“So our biggest problem is our discussion with our bankers. Most of us are now cash negative. As I said, you need more cash to do investment to grow oil production to be able to meet your obligations and that is exactly what you don’t have. For the majors, usually what they need to do is cut capex, fire some employees to balance their books and explain to their shareholders why they are reducing marginally the dividend payout.”

Avuru said the service companies had been hardest hit, adding, “57 per cent of the land rigs in Nigeria today are idle. Each of these will ordinarily be employing some 210 people. In 2013, we were operating seven rigs in Seplat, we dropped our last rig in November 2015. We don’t have a rig working for us now. Service companies are in serious trouble.”

The Managing Director and Chief Executive Officer, Chevron Nigeria Limited, Mr. Clay Neff, who described the drop in oil prices as dramatic by any scale or stretch, said, “We are going through challenging times. Development work has dropped significantly. New projects are being slowed down because the economics don’t justify going forward.”

He stressed the need to address the funding challenge facing joint venture oil and gas assets in Nigeria, putting the cash call arrears owed by the Nigerian National Petroleum Corporation at over $5bn.

http://abokifx.com/oil-firms-cash-flows-worsen-banks-jittery-punch/


Hmmm....

kingphilip:
this is serious o 3000naira for one palm on top wetin now

accepted he's doing something good but like seriously i can't patronize him because it's too costly

the one i wear about is 500 naira and have lasted me for over three months and has the tendency to take me one more year if care is not taken

i'm not discouraging anybody from buying though, if you can afford it go for it

$10 slippers and you are complaining!!! WTF!!! It's people like you that will soak garri and pay in installments to buy some branded garbage with real Chinese origin and fake Italian provenance.