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Ojukwu senior was already a millionaire in the 1950's. He did not make his money in the 70's. Ojukwu senoir was the richest Nigerian in the 50's. He was into haulaging moving goods from the south to the North. |
Today – Alhaji Aliu Dangote is the richest black African and probably richest black person in the world. . He only became rich because of the inadequacies of our past leaders. After the war in 1970, there was the six days war between Israel and the Arabs, this war lead to oil price quadrupling in price over night. All of a sudden Nigeria had a lot of money; the Federal government had already implemented the Udoji salary awards in 1974 whereby everybody’s salary was doubled. Of course with the new found wealth a lot of people wanted build their own houses and there was severe cement shortage in the country. The demand for cement and other building materials was astronomical, under pressure from the military the government committed itself to a massive Barrack building program and thus ordered 16 million metric tonnes of cement for the MOD alone, amounting to 80% of the country’s total cement import. Although all Nigerian Ports combined could only handle 6.5 million tonnes of general cargo per annum, the government had expected ALL 16 million metric tonnes for the MOD delivered within twelve months! By April 1975 about 105 ships, were waiting on the high seas for berthing facilities. By June the number had climbed to 455, of which 300 vessels were carrying cement. Forced to wait an average of 180 days before berthing, freight surcharges of 30 % to 100 % were being paid per ship with the effect of raising import prices. At the same time Nigerian agricultural exports suffered. It has been estimated that the Government paid $ 4100 per day in demurrage for each cement vessel delayed over ten days. It was said at the time the cement shipped to lagos could build the whole of lagos 3 times. The cost of importing the cement at the time could build 20 cement factories in Nigeria. What surprises me most about this saga was Shagari was the finance minister at the time, Awolowo ( A hero to a lot Yoruba ) was part of that government. One would have thought that with Awo being part of that government the government would have taken a more astute approach to demands at the time. The essence of this post, because some of you will be asking yourselves how is this thread relevant to what is happening today. This thread kind of looks at the broader picture, and gives you an insight of how Dangote saw an opportunity in the market and took it. I hope our current leaders will also learn from the mistakes of the past. The thread will all also be relevant to most political historians and those interested in the economic history of our country, especially students in our various Universities. |
Are you implying that when our lord Jesus christ made this quotation he was refrering to tighting, I think this quotation has a more deeper interpretation than thiting. |
@A-TOWN You will expect a person / albeit a Nation that has been wealthy for close to 200 years to have more assets and reserve than a country that suddenly finds itself as the most liquid nation on Earth in 1974. You have to remember Nigeria was a young country only about 14 years old but the fact still remains it was the most liquid nation on the planet as at that time. The comparison with Kuwait and Libya does not hold water because neither Kuwait and Libya are paying their lowest paid worker $1,200.00 a month, . I am not talking GDP here, where you divide the population by the amount the country is making we are talking Real money with a capital (R) this is not an academic exercise but facts. |
The only billionaire you will become will be in $Zimbabwe dollars, at least you can use the money to fight your wife and pickin at home. Biafra ko, Biafra ni, Biafra is dead and buried it has become a fossils. |
Give Ceaser what is Ceaser's and God what is God's Religious Gurus in the house I salutue una oh, I want you to throw more light on the above quotation, what is the moral, religious and modern day implication of this quotation. How relevant does it apply to us today, what is the essence of the statement? Is there more to this statement than meet the eyes. What is our lord saying here, does it mean if we do not give to ceaser example Tax evasion does that mean we will go to hell. |
@Babalawo, I dont need to read anything about the history of Nigeria On- line I experienced it, I can remember my senior cousins after finnishing Uni getting their car keys and house keys from their parents to start their lives. I dont need to read that on-line. I thought it was the norm everywhere on getting here in England I notice parents here do not that for their kids. That tells you something Nigeria was not just rich, but very, very rich. I stand by my statement we where the richest nation on Earth as of 1974. The essence of the thread is to educate young Nigerians growing up, that Nigeria has had a glorious past, such past could inspire them to turn the clock back from this bleak and doom we are experience today to boom time again. |
@BOSS "Notable is the fact that the Naira was then more powerful than the dollar and 720 Naira was the equivalent of 1200 dollars. Adjusted for inflation, this had more purchasing power than the current national minimum wage. " Look at that statement carefully, what the writer is saying here is that the lowest paid Nigerian in 1974 was getting in today's valuation of the dollar in excess of $1,200.00. a month effectively making Nigerians the highest paying nation on Earth at that point in time. You can imagine paying the lowest paid person $1,200.00 a month. You young Nigerians go and speak to your parents about this era, it was an era of plentiful and I dont thing it will ever happen again. I met a Gentleman in one of the poshest part of london, St John's Wood to be precise was living in a £4 million pound house, I went to his house to do some work for him, he asked me where are you from, I said Nigeria, Oh !! Nigeria!!!, Nigeria had it going in the 70's in fact he categorically told me he made his money from Nigeria, he left Nigeria in 1979. |
@babalawo, the essence of the thread is to make our current leaders to learn from the mistakes of the past. The past defines the future. Even General Gowon admitted that certain things would be done diffrently if he had the opportunity again. |
@Richie Boy, Go and read your history books Nigeria started the race with the likes like Saudi Arabia, Kuwait, ask your parents what the udoji award was? In 1975 Britain was in recesseion so was Japan, America and other industrial nations oil price threble in price from what it was in 1973, basically Gowon was awash with so much money he did not know what to do with, Nigeria even paid the salary of striking teachers in Jamiaca in 1974 |
The biggest economic howler ever committed anywhere in the world was in Nigeria in 1974. That was during the Udoji award of 1974. What happened in nigeria on that day was un-precedented and never happened to any nation in the world, even the most industrial nations have never done such a thing in their history. To double the salary of every man, woman, in the land was biggest political and economic howler ever commited. To be sincere Gowon did not have a clue what to do with all these money he just increased everybody's salary. [/b][b]" These extracts was taken from Vanguard on-line " Instructively, the pain of that war was assuaged by an oil boom in the early 70’s. With it came the Udoji salary increase of 1974 which upped the minimum wage from 312 Naira per annum to 720 Naira per annum. Notable is the fact that the Naira was then more powerful than the dollar and 720 Naira was the equivalent of 1200 dollars. Adjusted for inflation, this had more purchasing power than the current national minimum wage. Nigeria effectively became the richest nation on Earth. Look at where we are today its a real shame. |
Like the isrealites of the old testament are we the mordern day Chosen People On my recent few trips to Nigeria, I noticed the proliferation of Churhes in every nook and corner, I know some people we come out and start saying that churches are industry in its own right in Nigeria today. I think it is a worthwhile development, I think it is necessary we do not lose sight of the central essence of the Gospel which is to win souls for the lord. The fact a pastor mis-appropiate church funds is something that the pastor will have to answer in the day of judgement. I think we Nigerians should be proud that we have direct line with the lord. Reason for my summations are the followings : 1. Remember General Sani Abacha he was a brutal dictator, I have been informed by reliable source he died because very strong christains prayed and fasted for 40 days praying for change in the country. The result Abacha went to bed never to wake up again. Christains in Nigeria continue to put your faith in God. With faith we as christains can move mountains. See what is happening in Zimbabwe, the people should go on there knees and pray for salvation. 2. The man that rose from the dead, the death of that pastor in Onitsha, was well documented, 3 doctors confirmed he was dead, his body was taken all over the place for 3 days and on the 3rd day he rose back to life in Raihman bonker's crusade. I am not argueing for or against whether it happened, the fact is, it is still the best example of mordern day resurection till date. 3. Pastor Ashiomolowo's church in England has the largest congregation in Europe. 4. The Nigerian branch of the Anglican church has broken ranks with its parent church in England. The reason been churches in england and american beleifs in having gay bishops. This view is un-acceptable to Nigerian bishops we follow the word of the bible not political correctness. 5. I read an article in which the world bank said Nigerians economy defiles economic theory. The economy of Nigeria should have collasped long time ago with spate of corruption taken place there, but for His grace we are weathering the storm we thank God for that. There are more points but I want others to contribute to this Good thing that is happening in our Country[b][/b] |
1 in every 5 blackmen in the world is a Nigeria 1 in every 10 black Professors in the world are Nigerias 1 in every 5 black Phd holders in the World are Nigerians 1 in every 3 black MSC holders in the world are Nigerias 1 in every 2 blackmen that are graduates are Nigerians I read the articles on Nairaland's political section and I marvel about the wealth of talent, knowledge and experinece we have yet the country is run by a bunch of clueless illetrates. If the above statistic is anything go by then Nigeria should be the greatest nation on planet earth even greater than the USA. Yet we are still wallowing in abject porverty it hurts my soul. My people what can be done ![]() |
A friend of mine an American once asked, what is the population of Nigeria, I said 145 million, He said you don’t mean it, I said yeah its between 145 & 150 million. He said what the hell are you doing in England, I said there is no job in Naija, blah,blah the whole sheban about un-employment. He said that is bull-shit, so are you telling me you cannot think of something you could sell to your people for a profit of $1, that if I sold to 1/2 the population I would have made $75 million dollars. I now sat down and thought of it, and said to myself how come the whole population is blind to this statistics. He said America is only 300 million people and there are enough millionaires because business minded people are always thinking of way of inventing something new that could be sold to the populace. He said look at England only 65 million people they have more self made millionaires than a country like Nigeria. Ladies and Gentlemen 1. We should change our mind-set from believing the only way to success is through political office. You will be surprised the kind of money you will be making if we can look at our market critically rather than political bickering. Here is Femi Otedola’s story - Otedola is a shrewd business man. Venturing into the oil sector only in 1999 by incorporating Zenon Petroleum & Gas Limited, he soon became the main importer of diesel in the country making $100 million a month with a staff of 400. I know I should not be using Otedola and Dangote as example because it is government patronage and not self made, the principle is still the same. To be a Millionaire or even billionaire is a numbers game. 145 million X £2 = $290 million 145 X 10 = $1 billion & 45 million See this extract of what Otedola is up to – Nigerian billionnaire entrepreneur Mr. Femi Otedola has concluded plans to invest a whopping $2 billion in the building of his sugar refinery and cement factory. Femi Otedola is aware that Dangote has cornered the market with his sugar and Cement, by establishing his own he will give Dangote a run for his money. Ladies and Gentle-men you can team up with friends, families, communities, pull resources together and give Femi Otedola a run for his money. My people make na wake up, government cannot do everything for us, we should be pro-active and take our own destiny in our own hands. 2. Nigerians – We should be innovative. |
CBN is providing 90% of foreign exchange requirements the country needs so to counter such trend they allow the Naira to drop in value in other allow Nigerians in diaspora and foreing investors to fill the gap that is what is happening. When the pound was exchanging for 250 to 1, there was a lot of ££s sent to the country, when the ££ dropped to 170 western union transactions reduced drastically. |
I just heard it on the radio that if there was a mini league involving the top 5 premiership team Arsenal would be 1st. The question is how come they cant beat those lesser team. |
1 in every 5 blackmen in the world is a Nigeria 1 in every 10 black Professors in the world are Nigerias 1 in every 5 black Phd holders in the World are Nigerians 1 in every 3 black MSC holders in the world are Nigerias 1 in every 2 blackmen that are graduates are Nigerians So what is wrong with Nigeria, how come a nation blessed with so much resources is stuck with baba-go slow. We have problems oh, no be small problem, Na only God fit help us.[b][/b] |
Arsene wenger has made a few errors although he made money for the club from the sale of some key players, that is beside the point because the primary goal of any football club is to win trrophy. Since Arsenal has not won any trophy in 4 years don’t you think it is high time the Gunners call it a day with him after all Morinho was sacked from Chelsea despite winning the EPL back to back. |
Most disaporans will like to settle back home but for the hyper and over inflated prices people pay for necessities of life. Some examples 1. Why are pepole paying N700, 000.00 for a 1991 Honda Accord when in the UK u can buy that kind of car for £250.00 - N50,000.00 in the auction or £400.00 or N80,000.00 IN THE OPEN MARKET. 2. The house prices on the island is out of this world even well paid diasporans find it extortionist. You buy a house in say lekki for between N50 to 100 million that is between £250,000.00 and £500,000.00. Can you imagine paying that kind of money and your neigbours are a mechanic village, a few small block making firm and a mammy market selling pepper and tomotoes . This kind of loop-sided development that is taken place in lekki has to be addressed. Most diasporans will rather use that kind of money to buy in choice areas in london, New york , and miami. You could get beuitiful condone in miami beach for less than that. 3. Take your mobile phone calls just damn to costly. I can remember using N3,000.00 CREDIT just having a normal tel chat with a freind the las time I was in Nija this has to be addressed. 4. Going out to choice areas to have a meal, I remember going to some joint in VI and a plate of pepper soup is N3,500.00 for one small peice of fish. Haba how much is fish in lagos all these business men for lagos na go kill person oh. 5. Lets talk about clothes that is a no go area for diasporans that settle in nija, aint nothing like Sale ANYMORE. You go to those little boutiques in lagos and buy a jeans for N50,000.00 u go there 2 days later u will be charged N75,000.00. The problem with Nigerian businessmen if they have not made 1000% profit they no go sell we should refrain from this kind of mentality to what obtains all over the world. A consistent modest profit is better than a one off massive profit. |
MAN UTD ON TARGET FOUR 4 CUPS, GUYS WHAT DO YOU THINK ? WOULD THEY MAKE THIS EPIC FEAT ? |
even if u want to vist babalawo dem dey pekham ![]() |
everything that has a begining we surely have an end. The world will definately come to an end but when is anybodys guess only Him who created it can tell. |
Hero - Benjamin Adekunle read extraact : General Benjamin Adesanya Maja Adekunle, Nigerian Army, (Rtd.) (born June 26, 1936), was a Nigerian military leader. Adekunle was born in Kaduna. His father was a native of Ogbomosho, while his mother was a member of the Bachama tribe. He underwent secondary education at the government college, Okene (in present day Kogi State). He enlisted in the Nigerian Army in 1958 shortly after completing his school certificate examinations. He passed the army selection examinations and was accepted at the prestigious Sandhurst military academy, where he and his course mates were imbued with a thorough academic grounding in the art of warfare. He was commissioned 2nd Lieutenant on December 15, 1960. As a platoon commander, he served in the Kasai province of Congo with the 1QONR (1st Battalion) during his first tour of duty with UN peace keeping operations in that country (ONUC). In 1962, Lt. Adekunle became Aide-de-Camp to the governor of the eastern region, Sir Akanu Ibiam. The following year, as a Captain, he was posted back to the Congo as Staff Captain (A) to the Nigerian Brigade HQ at Luluabourg - under Brigadier B. Ogundipe. In 1964, Major Adekunle attended the Defence Services Staff College at Wellington, in India. When he returned he was briefly appointed Adjutant General at the Army Headquarters in May 1965 to replace Lt. Col. Yakubu Gowon, who was proceeding on a course outside the country. However, he later ceded the position to Lt. Col. James Pam and was posted back to his old Battalion (1st Bn) in Enugu as a Company Commander. He later assumed command of the Lagos Garrison as a substantive Lt. Col. When the Biafra civil war erupted in July 1967, Adekunle was tasked to lead elements which included two new battalions (7th and 8th) - to conduct the historic sea borne assault on Bonny in the bight of Benin on 26 July 1967 (carried out by Major Isaac Adaka Boro's unit). This happened after the federal government gained confidence of most south western ethnic groups as a direct result of Biafran push to mid-west state and probe into Western region. Adekunle was promoted to Colonel after the Bonny landing. The 6th (under Major Jalo) and 8th (under Major Ochefu) battalions of the Lagos Garrison subsequently took part in operations to liberate the Midwest following the Biafran invasion of August 1967. The 7th (under Major Abubakar) stayed behind to hold Bonny. Because Major Jalo's outfit was seconded to Lt. Col. Murtala Mohammed's 2nd Division, Adekunle was left with only the 8th Battalion at Escravos. He, therefore, protested to Army HQ and got the Lagos garrison upgraded to Brigade status through the creation of the 31 and 32 Battalions (under Majors Aliyu and Hamman, respectively). This formation, combined with elements of the Lagos garrison along the eastern seaboard, was officially designated the 3 Infantry Division.[1] However, Colonel Adekunle did not think the name "3 Infantry Division" was sensational enough nor did it project the nature of the unique terrain in which his men had to fight. Therefore, without formal approval from Army HQ, he renamed it the " 3 Marine Commando (3MCDO)." The "Black Scorpion" as he came to be known, was easily the most controversial, celebrated and mythologized figure[citation needed] in the war of attrition that laid the foundations for Nigeria's contemporary crisis; and threw a wedge into the national fabric. On opening the war front, the now 3MCO was able to push the Biafra army inward and clear it off most of the ethnic minorities area, allowing the new 12 state structure of Federal Government to be implemented. This also undermine Biafran dominant ethnic group, the Ibos in influencing the other ethnics in the area. Two governors of the two new minority state were able to be installed and functional after the 3MCO offensive. Adekunle popularity during Nigeria civil war was due to the speed at which he defeated Biafran army in major battles and speed of advances. However, the advance became stalled and Biafra was able to push back and recaptured Owerri. Also, Biafra was able to launch various ambushes while the division gain little. This was the state of 3MC before Adekunle was redeployed back to Lagos for a new commander, Colonel Olusegun Obasanjo who latter use the troop to defeat Biafra. What was remarkable was that, the division came late into the war and gained more territory compare to other divisions fighting from the north of Biafra. Adekunle was latter put in charge of decongesting Lagos port that was having a chronic problem of clearing imported goods. This was his position before he was put on compulsory retirement. He attributed his problem during and after the war to his rivals in army. In his various interviews, he said there always a rumour of coup linked to him until the army authority feel concern to do something about it. He had large followings in both the army and public at large and is the most popular military commander during the war apart from Obasanjo who succeeded him and brought the war to an end with same 3MC. Adekunle led the Third Marine Commando Division with such great panache and determination, and the foreign media, in looking for human angle stuff about the Biafran war found Adekunle a ready source of news. Benjamin Adekunle was promoted Brigadier-General in 1972. On August 20th, 1974, he was compulsorily retired from the Army. |
Fashola should meet up with the administrators of Port Novo and Contonou in the Rep of Benin and create a Magapolis stretching from lagos to Coutonu. The govt of lagos state and Benin authorithies should build road & rail links to join the 2 cities. This arrangement would be good for the beniose economy as nigerians that cannot afford to live within nigeria we live in rep of benin and travel to lagos for work. The reason behind this thought is because of the enormous cost of buying land in Lagos. Fashola should co-operate with the Beniose authority and make things happen afterall Port Novo is only 100 miles away and Badagry and Port- Novo are linked together by the Badagry lagoon. (you can see the map on Google earth). Meaning of a Megapolis A megalopolis (or megapolis) is defined as an extensive metropolitan area or a long chain of roughly continuous metropolitan areas. The term was first used in the United States by Jean Gottmann in 1957, to describe the huge metropolitan area along the Eastern seaboard of the U.S. from Boston, Massachusetts, Philadelphia, New York City and Washington, D.C. According to Gottmann, it resulted from changes in work and social habits. The concept was later extended to include the following regions: BosWash (Boston–Washington), ChiPitts (Chicago to Pittsburgh), Quebec City–Windsor Corridor, SanSan, and Bajalta California. A megalopolis is also frequently a megacity, megapolitan area, or a metropolitan area with a total population in excess of 10 million people. Megalopolis is used in urban studies as a term to link the metropolitan Combined Statistical Areas of Boston–Worcester–Manchester, MA–RI–NH; Springfield, MA–Holyoke, MA, Hartford–West Hartford–Willimantic, CT; New York–Newark–Bridgeport, NY–NJ–CT–PA; Philadelphia–Camden–Vineland, PA–NJ–DE–MD; and Washington–Baltimore–Northern Virginia, DC–MD–VA–WV. |
Nigerian would have been worth living if and only if ? certain things are in-place can you imagineYou pay serious money for crap houses, crap neigbourhoods, crap facilties, can anyone tell me why a 3 or 4 bedroom in the Lekki corridor cost between 50 and 100 million Naira. Have you thought of it 50 MILLION Naira !!! that is £200,000.00 or $240,000.00 I will rather get something better abroad than pay that kind of money. How can a country that has over 75% un-employed peeps another 20% employed but payed pathetic wages N10,000.00 a MONTH sustain such hyper and even over-inflated property market. My verdict is dooms day is round the corner and all those who bought over-priced properties will sreaming their head off just like the Nigeria stock exchange. Do not even mention renting in Ikoyi or VI. |
Why is the Fed Govt owning an airport sef, they already have there hands full with too many things, no wonder nothing gets done in the country. They should hand all airports to the state govts except Murtitala and abuja airport. |
its all about egunje, unicef job na salary job, who wants salary job, when u can divert 25% of your ministerial budget into your personall account. |
if this particular road was contructed by the goverment it would have cost zillions of Naira and within 2 weeks the road would start falling apart. I think it is high time private individuals are allowed to build, collect toll, and maintain roads in Nigeria I beleive that is the way forward. |
The EFCC boss has said our political leaders have mental problems. If our politicains are even stealling $1 million DOLLARS which I will say is more than enough for any sane person that will be fine. ( Not that I condone stealing 1 kobo just trying to reason with a sane theif ). How do you explain the rumours doing the rounds that James Ibori, Peter Odili , have an airline business in Nija, do you know how much a plane cost - in excess of $10 million if these allegation is true then these individuals should held down and sectioned to a mental home for the rest of their lives. |
@poster - REFRENCE TO THE Shugaba Case of 1981, the aformentioned area is highlighted for your attention. Nigeria’s Democracy: The journey so far By Chioma Anyagafu Saturday, May 31, 2003 IN 1976, at the twilight of the attempt to return the country to civil rule in a post civil-war transition, the then military Head of State, General Olusegun Obasanjo set up a Constitution Drafting Committee headed by Chief Rotimi Williams which duty it was to produce the draft constitution for the future use of civilian governments. By September of the same year, this constitution was ready. Contents of the Draft favoured the federation and the fact that Nigeria must retain its federal form of government. It provided for elected parliaments and governors for each state, making a major change for a popularly elected executive president. Hitherto, the British model whereby power was concentrated in the hands of a Prime Minister was the system under practice. It was the system that produced Alhaji Tafawa Balewa of the First Republic as the Prime Minister of the country and Dr. Nnamdi Azikiwe as ceremonial president. But at the time the Draft was made, this system has become generally unacceptable to majority of ethnic groups in Nigeria. A debate was initiated between the press and the public and the Draft was submitted to the Constituent Assembly. It took a lot of time to debate on the Draft Constitution. By 1978, registration of voters had taken place as an advance towards the civilian rule and all the then military governors were relieved of their duties July 1978. The Draft Constitution provided a four-year tenure for elected President and Vice-President, federal Senate and House of Representatives, state governors and state Houses of Assembly. When eventually, the military administration of General Olusegun Obasanjo lifted the ban on political activities September 21, 1978, twenty political parties were formed out of which five got registered. These were the National Party of Nigeria, NPN, which national chairman was Chief Michael Adisa Akinloye. It also paraded prominent politicians like Alhaji Makaman Bida, Alhaji Shehu Shagari, Chief J.S. Tarka and Chief Richard Akinjide. There was also the Unity Party of Nigeria, UPN, headed by the Yoruba sage, Chief Obafemi Awolowo which advocated free education, free health services and other welfare state measures. The Nigeria Peoples Party, NPP, was led by Dr. Nnamdi Azikiwe who joined the political contest at the age of 74. There were also the Great Nigeria Peoples Party, GNPP, headed by Alhaji Waziri Ibrahim who advocated national reconstruction through politics without bitterness. Finally, there was the Peoples Redemption Party, PRP, headed by Alhaji Aminu Kano. Elections proper were held between July and August 1979 in the following order: Senate July 7; House of Representatives, July 14; States House of Assembly, July 1; and state governors, July 28. Presidential elections were held on August 11, 1979. When the results were ready, NPN emerged overall winner and Alhaji Shehu Shagari, the presidential candidate of the NPN was declared winner after he scored 25% or more in twelve states and 20% of votes in Kano. His victory was contested by UPN but the courts upheld it. On October 1, 1979, the military regime of General Olusegun Obasanjo handed over to the democratically-elected regime of Alhaji Shehu Shagari. But soon after democracy got established, things began to happen. Democracy got characterised by high political tension both within and between the parties. In Kaduna State, more than one year after civilian take-over, the PRP governor was yet to form a cabinet. [b][/b]In Borno State, crises got to a head that the GNPP majority leader, Alhaji Abdulrahman Shugaba was deported by Federal Immigration authorities to Chad in January on the ground that he was a Chadian. |
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certain things are in-place can you imagine