Kel4soft's Posts
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I offer this advice, this warning, because the people have suffered enough hardship. I offer this advice in the slim hope those in power will ignore the messenger and objectively weigh the quality and humane nature of the message. If so, they will spare the people the grief visited upon a vulnerable people when their government blindly imposes last century’s policies in a modern setting inappropriate to the old strictures A wash in the great tide of politics, we must not forget why politics can be a noble endeavor. It leads to governance. When done correctly, governance can reform a nation and improve the lot of the people. In the hands of the ignorant and the mean, governance cast abundant misfortune upon a nation and upon the welfare of its citizens. This commentary concerns governance and policy more than it does politics. I offer it to generate debate on an important economic issue. No matter who is in power, we must do whatever is in our capacity to do to steer the nation away from economic woe. The people have suffered too much hardship already. Neither side of the political divide should seek to purchase transient advantage at the high price of dousing the people in greater economic calamity. Thus, I suggest this progressive’s position on how best to shape economic policy during this period of falling oil prices. I state this hoping those in charge will take pertinent advice from any quarter. My prayer is that they are not so stubborn as to adhere to a strategy that will deepen the economic misery of our people even when better policy measures are proffered. I confess to writing this also for a reason essentially political but non-confrontational. It accentuates the distinction between the conservative PDP and the progressive APC. The nation faces momentous elections when next year turns to its second month. The choice is a stark one; but many people do not believe as such. The differences are vast especially regarding economic policy. On the one side, the PDP champions a conservative, elitist economic model based on the theory that wealth money must first go to the already rich and well-heeled who shall determine how small a fraction of it will trickle-down to the rest of society. On the progressive side, we believe government can fillip economic growth and development in such a way that brings the fairness of prosperity to all of society. We don’t seek to penalize those who already have but we will do our utmost to remove from the clutch of poverty the bulk of our people. We seek to turn the hungry suffering of our poor and working classes into a dignified livelihood that provides a dignified existence for all. Global oil prices have fallen from over 100 dollars a barrel to approximately 80 dollars per barrel. This slide has caused a corresponding drop in government’s dollar revenues. With this, the federal government claims it has less money at its disposal and the paucity of dollars necessitates austerity measures. Most people accept this position as gospel; debate about its correctness has been nil. Yet, the stakes are much too high to assume this subjective position as an economic certitude or uncritically accept its propriety. What they proclaim as policy is not based on any unassailable economic principle. It is statement of economic bias that beckons to the wealthy while auguring unnecessary hardship for most Nigerians. Look at jobless and poverty levels as well as the diminished status of our middle class. After viewing these statistics, most objective economists would conclude Nigeria is mired in a long-term, secular depression. Forget the rosy GDP numbers. They signify a great economic and financial segregation between those who have and others who have not. If we continue with the policy preferences of the current administration, the haves shall become the “have–mores” and the “have-nots” shall become the “have even less.” The vast majority of the claimed GDP growth has fallen into the laps of those already enjoying obvious luxury. The rest of the people are left to gaze at the enormity of the income and wealth chasm separating them from the cabal orchestrating the discordant political economy. While a small group flourishes, the rest of the nation subsidizes their economic bounty. A tight confederacy rides an economic skyrocket while the bulk of the people languish in the swamp. For one group, the economy is effervescent. For the other, it is catatonic. Nigeria is one nation with two economies. For this government to speak of austerity is to further enrich the affluent while casting the average Nigerian into greater hardship and deeper socio-economic depression. As with the Euro zone the past five years since the global financial crisis, austerity has not solved the dire economic weakness of the nations that employed this sickening remedy. All austerity has done is tighten the grip of the wealthy on the economy while weakening the position of the middle class and the poor. Austerity weakens aggregate demand, deflating an economy already fatigued and against the ropes. Those with hefty portfolios, profit as the value of their holdings appreciates by the very dynamics of deflation. Those who don’t have, find money even dearer to come by. Jobs and commerce disappear. Debt climbs. Deflation turns a noble but poor household into a committee of beggars and street urchins. The austerity that the current Administration offers is an insensitive, myopic policy that lends primacy of favor to meaningless accounting figures instead of to the material wellbeing of the people. Austerity undermines our economic pillars and breaks the spirit of the people. Austerity is the merchant of pessimism and hopeless futility. If you desire a nation of thralls, by all means continue this bleak path. If we want a nation of prosperity and economic justice, a different course is our due. Listen carefully to the position of the Jonathan Administration as articulated by the finance minister and you shall collide into the barricades of illogic and its weighty consequences. The claim is that government is low on funds because the lower price of oil means fewer dollars are being collected from oil sales. This sounds logical but for one fundamental point. The dollar intake is basically irrelevant to determining the amount of naira the government commands and places into the political economy. This fundamental point reveals the government’s position to be the antiquated relic of a past era. It is the way of the gold standard which ceased to exist over forty years ago. As such, government’s stance is based more on superstition than on the actual functioning of modern economy with a sovereign fiat currency of its own. The last I looked, Nigeria operates a Naira-based economy not a dollar-based one. There is no legal or moral restriction strictly limiting the amount of Naira in the system to match the amount of dollars collected via oil sales. More importantly, there is no economic justification for the close linkage implied by the government. If we take its position at face value, the Jonathan Administration is advocating that we effectively place the Naira and thus our fiscal policy on a “dollar standard.” The world jettisoned the gold standard in 1971 because it proved unworkable, reducing the policy space in which governments could pursue fiscal programs promoting full employment and social welfare. We should likewise reject this government’s imposition of a dollar standard on our nation’s fiscal operations. Under the gold standard, a national government took pains not to incur budgetary deficits that exceeded the dimensions of its gold reserves. This was because the currency had no value by itself. Its value was based on the convention that the currency was backed by the nation’s gold holdings. Those governments that ran deficits had to pay those debts in gold. Given that gold supplies were always and everywhere finite and exhaustible, a nation had to keep its deficits within the confines of its ability to pay debts in gold. Because of this straitjacketing effect, nations would abandon the gold standard during harsh economic times in order to give them the fiscal freedom to rejuvenate their economies. This was the case during the Great Depression with the major economic powers. This should be the case with Nigeria today since the bulk of our people live in conditions redolent of the Great Depression or any other depression for that matter. Our government persists that it must limit fiscal outlays to the amount of dollars the nation holds. Similar to the operation of the discarded gold standard, following this path is to strap ourselves to austerity and the chronic deflation of austerity produces. Worse, it serves to enthrall the fiscal policy of our sovereign nation to the monetary policy of another country. That nation plies monetary policy to serve its interests and not the economic interests of Nigeria. I am baffled why this government would give such power over the fate of our economic wellbeing to another nation that does not incorporate our interests into its decisional processes. This government makes our nation the economic servant of another so that government may turn about to make the Nigerian people its economic servant. While there is a certain logic to this dynamic, it is a perverse and debilitating one. Because we operate a sovereign fiat currency the federal government issues at its sole discretion, the federal government can never be rendered insolvent in Naira. This means it can run Naira fiscal deficits indefinitely. The only outer bound is to ensure the fiscal expansion does not incur damaging inflation rates. There is no logical reason to peg the flow of Naira into the economy to the flow of dollars received. The correct perspective is not to mechanistically restrict Naira expenditure to dollar intake. This would be tantamount to those crippled with economic blinders forcefully leading those who can see we are heading for disaster. It points to deflation, recession and worse. The better methodology is to ascertain, then achieve, the level of Naira expenditure needed to expand the economy and create jobs without causing inflation to rise to dangerous levels. This is how broadly-shared prosperity is generated in a sustainable manner. In this way, the nation’s economic engineers should focus primarily on allocating value and opportunity to our underutilised labour force and our idle, yet potentially productive capital in a way that promotes wealth creation and expansion of aggregate demand. It is this sustainment of aggregate demand that empowers the nation to rescue itself from the whirlpool of economic contraction. This avenue is more benign than the one the federal administration now advocates. Their way calls for us to forget growth and for government to preoccupy itself with allocating economic misery among those segments of the population too poor and weak to contest the immiserating actions of government against them. In the face of recessionary headwinds, government should run countercyclical fiscal policy by using its Naira sovereignty to fund fiscal deficits. The deficit is not simply for the sake of running a deficit; the funds cannot be spent on nonproductive matters. It must be used to fuel infrastructural and other projects that not only employ great numbers of people but enhance the overall productivity of the economy. The funds must be used to backstop state governments in a nonpartisan manner so that each state government may continue to pay salaries and pursue projects essential to that state’s economic critical path. To accomplish this, the federal government needs to reverse the inimical “dollarization” of the national economy in two ways. First and most importantly, it must abandon the outdated peg of fiscal policy and expenditures to the dollar intake. The one actually has no correspondent nexus to the other. Any commanding connection we give it is an artifice not an economic necessity. Related to this, we must reverse a trend that has gained momentum under this government. Among government-aligned elites, the fad has been to conduct domestic business transactions in dollars. Policy must “nairasize” the economy by requiring all domestic transactions occur in our legal tender. As this is done, the government’s infinite ability to issue Naira will come to outweigh the limitations inherent in the overuse of the finite supply of another nation’s currency for transactions wholly internal to our domestic economy. Inflation is the major risk of running budget deficits to spur growth. We can contain inflation to acceptable levels by ensuring additional government expenditures are for items that can be supplied domestically, particularly labour. Naira paid to poor and working class people mostly circulates in the domestic economy, spurring additional local commerce and production. This is because their consumption patterns do not approach the level of import expenditures associated with their wealthier compatriots. Related to this, we must decrease our level of superfluous imports. These measures will place downward pressure on the Naira. Devaluation will not be destructive but it will be noticeable. For most nations, such devaluation would be welcomed as it would make export industries more competitive, thus creating jobs and export earnings in the process. However, this will not be the case initially for us because of the moribund state of our industrial sector. Here, government would need to initiate crash programs aimed at enhancing those domestic industries perched on the borderline of international competitiveness. In the end, the policy I propose is not without risks, inflation being the chief concern. Yet, if wisely prosecuted, the rewards of job creation and economic growth allocated among the bulk of the populace outweigh the inflationary risk. More to the point, the policy now pursued bears no risks at all. It is certain to toss the average man’s economy into a stagnation that will resemble the onset of a major recession. Saving the people from this unnecessary plight is sufficient imperative to eschew the policies of old and embrace the progressive course. I offer this advice, this warning, because the people have suffered enough hardship. I offer this advice in the slim hope those in power will ignore the messenger and objectively weigh the quality and humane nature of the message. If so, they will spare the people the grief visited upon a vulnerable people when their government blindly imposes last century’s policies in a modern setting inappropriate to the old strictures. Regardless of our partisan affiliations, let us consecrate this land by dedicating ourselves to the betterment of the poor, weak, and needy members of our national family. Let this moment not pass like so many others where we have demanded that the most vulnerable among us bear the greatest weight of the national burden. Let us give them the hope, change and dignity they deserve and human decency demands. This is how we make the nation great. When I speak of a common sense revolution, this is what I mean. http://thenationonlineng.net/new/slump-in-oil-prices-a-progressive-way-out/ |
ujoinme:HAHAHAHAHAHAHA, Don't bring in PDP and APC into this. Meanwhile book a ticket for me as I storm Uyo next week for Nigeria vs S/A game. See I don't have helicopter to take aerial view of PH stadium. Like I told you, those supports at that stadium(PH) is really old skool and I don't know how come those engineers will allow such to happen. Is not about the stadium not been stair that is the problem after all St. Mary's Stadium (Southampton FC Stadium) is not stared but one of the best stadium in England. Will PH stadium be better than what is on ground when completed. Only time will tell. Uyo stadium is still the bomb in all honesty. This is 33,000 Capacity of Southampton FC. Not staired but magnificent. The absent of those supports like in PH stadium makes it too beautiful to behold.
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phantom:Hahaha, I meant that last two pictures the OP said said is PH stadium. The first two are the stadium with those supports which are old skool to be candid. The last two are not in Adokiye Amiesimaka Stadium. That said, the OP should also provide the aerial view of PH Stadium. The Football Stadium is all covered. The Stadium is even yet to be completed. Uyo Stadium still class above PH's own though. PH Stadium when completed.
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phantom:Hahaha, I meant that last two pictures. The first one is the stadium with those supports which are old skool to be candid. The last two are not Adokiye Amiesimaka Stadium. |
nigerianvenom:OP, I don't know the reason for this thread. Now Akpabio constructed a world class Football Stadium which I myself I am happy for. I watched the opening ceremony from start to finish and did savour every moment of that event though bar the crappy match. On the other hand, the 2 last pictures you posted is not Port Harcourt new stadium but Sharks Football Stadium that was renovated in Township,.Port Harcourt. Amaechi didn't built Football Stadium only but games village where you have 2 World class Swimming pools. 2 Indoors basket ball courts 2 Hockey pitch Hostels for Athletes and a 40k football pitch at a lesser cost of what Akpabio spent in building that stadium. A |
Dparagon:Exemption or overage from National Youth Service is determined by the age you entered during your year one registration. What it means is that if you are 25years in year one and you are expected to graduate at 29 in a 4year course. That status quo maintains whether unforseen circumstances of strike or extra year that might turn you above 30. The age you entered during your first year in school is all that matters. |
The deadly activities of the rampaging dreaded terrorist group, Boko Haram, is overwhelming the government of Adamawa State, the state Governor, Bala Ngilari, has said. According to him, the insurgents may have captured another local government area in the state on Thursday going by reports he got same day that people were moving out of the location. Ngilari spoke to journalists in Abuja on the sidelines of a power sector event which he attended at the presidential villa. He said, “The matter will improve but it is really, really something to worry about.” When asked to give the number of local governments that have fallen to the insurgents, he said, “I can talk of my senatorial district. Mubi senatorial district, five local governments, Gong, Gombi and I’m just getting a report that perhaps outskirts of Shirni, there’s a semblance of movement in that area. “So really we need a lot of intervention. There is need to move in more troops to secure the environs, for really it is a big challenge.” On whether the situation was now hopeless considering the taking over of the home of the country’s Chief of Defence Staff by the insurgents, Ngilari said the matter was way beyond the capturing of the CDS’ home. “We don’t reduce the issue of insurgency to simply the taking over of the house of the CDS. There are other tough things that make up challenges of insecurity. What about the problem of lack of employment. You know it is a whole long story. “So we don’t just reduce it simply to the taking over of the house of the CDS. I think is much more than that.” Was it an overwhelming challenge for his government, he responded, “absolutely it is a challenge. God is there and we look up to Him for there is nothing impossible with Him. We will do our best but it is not something that should be left only for government. “Every citizen has a role to play in this matter in terms of giving information timely, convincing people who are involved in this thing because they live with us and are not from planet Mars. They are part and parcel of the society.” Asked if Nigeria can overcome this scourge and how soon will that be, the governor said, “Why not? Nothing is impossible. I don’t know when and I can’t put a time frame on that but anything that affects any part of Nigeria affects the rest of us. “So we must all be proactive and see how we can tame this monster because the sooner the better for all of us.” www.punchng.com/news/boko-haram-overwhelming-adamawa-ngilari-cries-out/ |
Usmanmuhammedd:Who is a PDP member? Let God judge you the way you align me to that God forsaken party. Am just being sarcastic and nothing more. |
OP, am travelling to my home town tomorrow to get my PVC. Out of 23 LGAs in my State, INEC is telling us only 7 LGAs cards are ready for collections blaming technical issues while 16 other LGAs no date has be fixed. Yes, the state is Rivers State, are you surprise this nonsense is happening in Rivers? Funny enough, the LGAs they felt they have strong followerships thats where they are starting from, little did they know we are ready for them. After collecting my card tomorrow, they will know exactly how angry am with them next year. |
The whites don't like our brother from Kenya. They plan to make the government ungovernable for our brother since he is a black man. The whites have been ruling for the past century, just this one our brother from Kenya took over they have been frustrating him. They frustrated OBAMACARE, All these born to rule whites people will soon here from us. 50cent, Mike Tyson and other street niggas will soon tell them. |
meccuno:Victor Ndoma from Cross River is the leader of this gang. So your North assertion is rubbish This country is bigger than GEJ. |
BENZINA:We are already in a Banana Republic. |
Anyi3:Me tire o |
Oya lawyers in the house over to you. |
A human rights lawyer, Dame Carol Ajie, has filed and served a notice of impeachment of the Nigerian Bar Association (NBA) president, Augustine Alegeh, SAN. Ajie brought the impeachment notice pursuant to Articles 4, 9, 12(i), 14(a), (b) &(c) of the NBA Constitution, Standing Order 20 (a) & (b) of the Second Schedule to the constitution of the NBA. The impeachment notice reads: "Notice is hereby given that at the National Executive Committee meeting of the Nigerian Bar Association, holding on 12th to 14th Day of Nov., 2014, in Le’Meridien Uyo, Akwa Ibom State, members of NBA-NEC, will consider and or move to pass a VOTE OF NO CONFIDENCE on Mr. Augustine Oyarekhua Alegeh SAN as encapsulated in the NBA Constitution and the Second Schedule to the Standing Orders and the inherent powers vested in NEC-NBA. Details later www.thisdaylive.com/articles/lawyer-serves-nbas-president-with-notice-of-impeachment/193274/ |
The All Progressives Congress (APC) in Rivers State has said it has zoned its governorship position to the south-east senatorial district. The Chairman of the state chapter of the APC, Dr. Davis Ikanya, disclosed this on Tuesday in an interview with journalists in Port Harcourt. The declaration puts to rest weeks of speculations as to where the party's candidate would come from or if the party would adopt the zoning system. Ikanya pointed out that the Rivers South-east senatorial district has both upland and riverine areas, and said the party's candidate could come from any area of the district. The senatorial district comprises Oyigbo, Eleme, Tai, Khana, Gokana, Opobo/Nkoro and Andoni local government areas of the state. All areas of the district are upland except Opobo/Nkoro and Andoni local government areas. The chairman said the candidate would be determined when the party votes and that whoever emerges would be supported by all members of the party. Our party has zoned the governorship position to the south-east senatorial district comprising of the upland and the riverine areas. The candidate will be determined when the party eventually votes on who will be the party’s standard bearer in the 2015 gubernatorial election. “As a party we are talking among ourselves. We are consulting and we are confident that the party will provide a level playing field for interested aspirants to market their credentials before the leadership and members of the party. When the party votes, the candidate that emerges, whether upland or riverine, everybody will support the party’s candidate.” The two major contenders in the party: Chairman of Senate Committee on Petroleum (Downstream), Senator Magnus Abe, and Chairman of House of Representatives on Petroleum (Downstream), Hon. Dakuku Peterside, come from the Rivers South-east senatorial district. The APC chairman also dismissed claims by former Minister of State for Education, Chief Nyesom Wike, and the state Chairman of the Peoples Democratic Party (PDP), Felix Obuah, that some members of the PDP, including the aggrieved group of 16 governorship aspirants who have formed a coalition against Wike’s aspiration to succeed Governor Chibuike Amaechi, were moles planted by the APC. Dr. Peter Odili, Rivers West occupied the seat between 1999-2007 while Amaechi Rivers East is the current Governor since 2007 thus leaving out Rivers South East as the only zone left. http://www.thisdaylive.com/articles/rivers-apc-zones-governorship-to-south-east-senatorial-zone/193251/
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joelenesleek:You don't need to make your points in private. Spill them outs here. |
The mistake was done since last year 31st August 2013 at the Special National Convention at Abuja that produced Uche Secondus when these same aspirants who are protesting now took pleasure in endorsing Wike's men without looking at the future while Amaechi's loyalist boycotted the convention and instead joined Amaechi to APC www.thenationonlineng.net/new/political-crisis-amaechis-loyalists-boycott-pdp-convention/ The truth of the matter, Wike I may despite him but he played his card very well by using these same people to achieve his goal. Now, lets look at these aspirants. Apart from Tonye Princewill and Bekinbo Jack who have being PDP members since 2009 non of the other aspirants were in PDP in 2011.Most of them don't have electoral value in Rivers State. Wike can defeat them in any primaries they so wish for. One of the aspirants even lost his polling unit in 2011 to PDP as a running mate to Omehia (APGA) which I happened to share with him. Tell me how many followers Silva Opusunju can command in his unit? Is unfortunate they never knew the manner of man Wike was when they joyfully held thanksgiving to celebrate Obuah's court victory and another thanksgiving when Gov. Amaechi left their party. Like Late Ojukwu told one of our Niger Deltan activist: Good morning. So am joining other well meaning Rivers people to say 'Good morning G16' and see you in 2019. |
OboloMAN:Alabo Graham Douglas has spoken with the leaders of PDP about the same issue same goes to Sara-gbe. The 15 Guber Aspirants that boycotted their ward congress, it may interest you to note that 10 of them are Ijaws. Even with their open letters to the national leadership of their party. They have been branded APC moles by Felix Obuah led executive. You begin to wonder when Dagogo-Jack Bekinbo who just left GEJ cabinet for his Guber ambition is now an Amaechi ally. |
He was very vocal in pre-2007 election. Telling everyone who cares that is Ijaw or nothing in my lovely state. Even in 2011, he championed the Ijaw course of what we have now in the centre thus acclaiming the self Ijaw leader who pursues the Ijaw course to the latter. How come the self acclaimed Ijaw leader has been silent as his party has decided to pick an Ikwerre man ahead of several notable Ijaw brothers in their shattered umbrella. Has brown envelope been exchange between the Former Junior Minister and the self acclaimed leader of the Ijaws? According to my brother, he says; Just like there is no "Christian" or "Muslim" agenda, there has NEVER been, nor will EVER be, an "IJAW" agenda, they are mere contraptions arising from, and only seeking to foster the parochial political and economic aspirations of those blabbing it. We shall no longer be deceived. Before the PDP dogs jump on me, I should be interested on whoever the parties brings out as her candidate since the future of my state. |
Sheenor:www.vanguardngr.com/2014/10/asornists-set-rivers-pdp-secretariat-fire/?utm_source=&utm_medium=twitter |
otokx:The one at Aba road. |
mazzi:And When have PDP (GDI) vs PDP (Others) be of Amaechi's concern. You most know the situation on ground before commenting on a topic. What will be Amaechi's gain to burn down a non existing party in Rivers? Is internal wrangling between Wike and those oppose to him..They are suppose to have their ward congress 2nd Nov. So group who felt that the party register is not the same with the one use in 2012 state congress are the ones fighting. Who really gives a damn what PDP does in Rivers State? The party is dead and I mean dead. What you see is not PDP but GDI |
abdulwastecx:Where do you live? |
nosky4:People are paying to serve in Rivers and you are angry. Hmmm. |
ayogabriel:Pray your Posted to PH. |
lacastre:Port Harcourt is not more expensive than Lagos, but if you're posted to riverine area. Am sorry to say, then is more expensive. |
nigel007:The camp is at Nonwa Gbam 35minutes away from Port Harcourt. Very easy to locate along East West road like you are going to Akwa Ibom State. |
Demdem:Fighting themselves as usual. |
They should not turn Rivers State to Baghdad because of who becomes their flag bearer. And as for those quoting Amaechi in this article. Get a grip, So Ankio Briggs, Lulu Briggs, Nimi, Prof. Owate all GEJ supporters are now Amaechi's people. We will know who will run after 2015. |
Longeria:Was the mayhem at the stadium? It was at Mummy B's road. Atleast read an article before commenting. |
desgiezd:Me tire Oh. |
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? look the pictures again jo!