₦airaland Forum

My people wetin na feel about the people wey dem butcher like nama( nama is meat in Hausa ) for jos.

I[b] dont think the Naira has fallen, it has actually gained against the pounds, from about N250 to N1, 4 months ago, to N185 to N1 now[/b]

He who eats with cannibals will one day end-up in the pot of his neigbour, nobody have to tell you these people are savages like the red-indians of the 18th century.

@Grafikdorn,

I am a Yoruba Nationalist and you will not catch me or any of my relative in Jos or in Northern Nigeria, these people are still far behind in civilisation how could anybody that call himself a human being result to such frenzied killing are they human ? Me I will like to live with real human beings not animals. If you want to live with animals thats your own wahala.

Nigerians should split jare, the western region acheive a lot during Awolowo's premiership in 6 years than the 43 years after his premiership.

Mobs in the world over are the same.

1. Mobs are never rational

2. Mobs get caught up in the hysteria and anarchy and anything can happen- How else would explain the Mumbai terrorist spraying there machine guns on anything that moves are the central Mumbai station. They claim to be fighting for Islam but a lot of muslims, Hindus and christains were caught up in this orgyof frenzied killing.

3. Take it or leave it its collatral damage.

I want a commercial land in the estate about 4 plots, must be directly on the expressway, thinking of building a hotel, how much will these land cost.

The idea of clawing back the money given you is not to make you broke but to make the economy work. I think George bush gave some poor folks a $600 recently to sort out their various bills. But the reality of it is a lot of these folks will splash this money on other sector of the economy. For example if you go and buy a laptop with this money, say for $200, by the time they add VAT at 17.5%, the total valueof the item you bought will be$235. The goverment has just got $35.00 back from you. So also the shop has probably made a sale and a profit from the item you bought. That means the shop owner will be able to pay the wages of his staff. Its a trickle down effect. The western economy is organised even if you are given free money, by the time you start spending the money you put money into goverment coffers. Example you get your salary you go to some joint other a few beer for yourself and your freinds. Because their is a tariff on every bottle you drink you are in-directly paying back part of you salary to the goverment dont forget you have already paid direct tax. The only thing that is free in the west is Air, you pay tariffs on tobbacco,alcohol,perfume you name it.

The great organised crime father of Chicago could not be brought down but for Taxes.
Tax is king every other thing is secondary.

How Tax really work

At present there are too many un-employed people in Nigeria, the various arms of goverments, Local Govt, State and federal govt should address this critically. The 1st thing the 3 tiers of goverments should know is the resources of a country is not necessarrily oil, cocoa, groundnut,coal e.t.c. but human resources is the most important resources in the country.

I have lived and work in the UK for close to 15 years now and I have come to appreciate that the most important resources in a nation is its human resources every other natural resources comes a distance second. Taking the UK as case sturdy the country has between 60 to 63 million people. Out of these population kids and pensioners would be about 20 million, nursing mums not working probably another 5 million and another 2 million is on the dole.(Un-mployed)

That means those working which is about 34 million people are providing the goverment with 95% of its revenue.

At the last count the total revene from income tax in a single year was in excess of £350 billion in a year. If I can recollect correctly the total income accrued from oil in Nigeria tops $20 to $30 billion in a year if you compare this amount with income generated internally you will come to appreciate the importance of Taxation in any mordern economy.

What Nigeria Governors and the president should do

Its very important to go on a recruitment drive. The reason and thinkig behind such initiative is you give with one hand take with the other hand that is how goverments work throughout the world.

The practicality of Taxes can be explained by a simple anology - Assuming there are 10, 000 un-employed graduates in Lagos State. if the state govt employs these 10,000.00 with a starting salary of N50,000.00 per month the whole exercise would cost the state govt N500 Million.

The state has fufilled its moral obligation to it citizens. The beauty of taxes is some of these money can be clawed back into the states coffers as taxation.

Assumming Taxation is 22% of gross income it will mean that each of those 10,000.00 graduates will be paying back N11,000.00 back to the state that will give the state an income tax of for the month of N110 Million it will mean that the total money spent on this set of graduates is now N390 Million.

The State will now look for a way of clawing back some of the N390 Million through indirect taxation.

Examples of indirect Taxation includes surcharging on petrol at the pumps, airport Tax, VAT or value added tax and Community rates.

The Community rates should be minimal payed by all employees in the state N30 per month or N3,000.00 per year.

Our graduate who was originally on N50,000.00 is now down to N36000.00 and clawing back contnues. This narration is just a simplistic way of how taxes work.

You can see that although the state spent N500 Million employ these graduates but has manged to claw back 1/3 of the money. A good adminstrator will develop a more astute and clever way of clawing in back more of these income for the state.

Lagos to float N275bn bond for light rail
By Rasheed Bisiriyu
Published: Wednesday, 12 Nov 2008
The Lagos State Government on Wednesday announced plans to float a N275bn bond on the Nigerian Stock Exchange to finance the construction of infrastructure to support two new rail lines currently being developed.

The two lines – Red and Blue – are to run from Agbado to Marina, and from Okokomaiko to Marina respectively.

Governor Babatunde Fashola, who made the disclosure at an investors’ forum in Lagos, said that his predecessor, Asiwaju Bola Tinubu, initiated the project.

According to him, provisions for the funding of the projects have been spread over the state’s budgets for three years (2008-2011).

Over $1bn will be spent by the state government on the infrastructure. It is also estimated that local and foreign investors will commit over $1bn to the provision of rolling stock and other operational equipment in the running of the two lines.

The governor, who was represented by the Commissioner for Special Duties, Dr. Tola Kasali, said that both lines, which are to be completed in 2011, were estimated to move 1.6 million passengers daily.

He said, “The concessionaire for the Blue Line is expected to invest an initial amount of $271m, although total investment over a 25-year-period of the concession is about $820m. The concessionaire for the Red Line is expected to invest an amount of $764.4m.

“The Lagos State Government intends to finance the infrastructure for both rail lines through the capital market by floating an estimated N275bn worth of rail infrastructure bonds.”

He also gave the details of the capital cost of project as Okokomaiko-Iddo ($582m), Iddo-Marina ($215m), and Agbado-Iddo ($402m).

He stressed that the project would assist in traffic decongestion and landmark public/private partnership and opportunities for real estate development near the rail stations.

The governor recalled that the dream of a metro line project for Lagos was conceived under the Lateef Jakande Administration in the early 1980s but was abandoned by the subsequent administrations.

Also speaking at the event, the Managing Director, Lagos Metropolitan Area Transport Authority, Dr. Dayo Mobereola, said the project was part of an already approved rail network for the state, which comprised seven rail lines.

Apart from the Lagos forum, he said that the state government planned two other investment forums for Dubai in the United Arab Emirate to capture investors in that region and Asia, and in London for potential investors from Europe and the United States.

The LAMATA boss urged investors to take advantage of the opportunity, claiming that it would be more rewarding than investment in GSM companies.

Lamenting that Lagos was the only mega city in the world without a light rail, he expressed optimism that the new lines would be one of the few most profitable rail systems in the world, next to Hong Kong.

He said, “We have the funding mechanism to pay for the two rail lines. It will not be a start and stop show. It is a project that we shall start and complete in record time.

“We have engaged renowned consultants, CPSC Transcorm of Canada, which has proven integrity for the project.”

Give kudos where kudos is due, the ethopians have done well.

I am looking for land in Asaba, land over looking the river Niger, if there are any let me know how much it will cost.

Thanks

Investor

I will suggest lagos state should move its capital from Ikeja to Epe. This will discongestion lagos metropolis and develop other areas of the state. I am not sure whether states have the authority to do this. Ikeja was made capital of lagos state when it was a distance place from lagos island and was less develop in 1976. But today it is all one big metropolis. Its always good for the state capital to be in a semi-rural area rather than in an urban area. Not a lot people know the capital of California is Sacremento, one would have thought it was LA or San francesco. I think Ikeja as a state capital has pass its sell buy date.l

@Midas02

Try and get in touch with ToxNaija, he seems to be able to present your proposal to the Governor. My take is any development would start from VI since Fashola is already commited to the EKO Atalntic City projected as a development goal, and the basis of this new city incorporates Lekki Penisula , so any metro development will start from there and head towards lagos Island westward and Epe Eastwards. So your plan dignified and comprehensive as it is should incorporate VI as its hub.

@Landis

Forget power, the electricity powering the trains will be dedicated power lines, that is they are independent of the National Grid, just like your GSM Phones, each Mobile telephone antenna line is powered by 2, 24 hours generators, these generators are are used and sold off every 2 years and new ones bought to replace the old ones. That is the reason why when you make calls in Nigeria you get connected. I am not saying the trains should be run by genarators but by newly built dedicated power plants(by dedicated I mean the power plants running the trains would not be supplying house holds or industries ). The cost of building the dedicated power plant should be incorporated in the investment appraisal for the whole project.

Modalities of funding

If you know 10 wealthy Nigerians each contributing N100 MILLION Naira that is 1billion Naira,

10 Capitalised bank to contribute N1 billion million Naira that is 10 billion Naira, total funds 11 billion Naira.

In dollar terms that is 600 million dollars, in £ that is 390 million pounds less or about the same anount Nigerian consortium want to use to buy Newcastle Utd Football Club.


With that Kind of Money in place the 1st phase either the Stadium to Lagos Island could be built or the VGC to VI could be built.

Fares N100 per trip or N110 one day travel card the one day travel card can be used on several trips - the number trips could be limited because Nigeria been a special case.

Estimated passengers per day - conservative estimate will be 1 million, this will translate to 100 million a day Monday to Friday take out all necessary cost per day N25.00 MILLION, gross profit N75 Million per day, it is a Win-Win situation for Nigerians with foresight.

Nigerans with money go for it[color=#990000][/color]

The Nigerian Bid will fail, because the real guys bidding for Newcastle are ex politicains and they will fail the stringent English FA fit and proper test. How came someone wants to spend £350 million and yet they are faceless [size=14pt][/size]

Does that A Nigerian consortium sees it wise to invest £350million pounds on a premiership team, they will probably spend another £150million to £200million if they want to compete for honours, this sheer waste of money in a poor country like nigeria.

With that kind of money investors can

1. Build a fast train from Lagos to Abuja
2.Build 4th Mainland bridge and collect Toll on it.
3.Cover at least the cost of Building a metro in lagos or Abuja
4.Build half a dozen power plants
5.Create employment to thousands of nigeria by building industries, e.g car assembly, lorry assembly, e.c.
6. Complete Tinapa and make it more viable.

Nigerians should be smart about these things, the arabs that bought Man City, have already built a whole new City in Dubai and only looking for business opportunities to promote the houses that has been built in dubai for western investors to buy.[b][/b][size=12pt][/size]

Does that A Nigerian consortium sees it wise to invest £350million pounds on a premiership team, they will probably spend another £150million to £200million if they want to compete for honours, this sheer waste of money in a poor country like nigeria.

With that kind of money investors can

1. Build a fast train from Lagos to Abuja
2.Build 4th Mainland bridge and collect Toll on it.
3.Cover at least the cost of Building a metro in lagos or Abuja
4.Build half a dozen power plants
5.Create employment to thousands of nigeria by building industries, e.g car assembly, lorry assembly, e.c.
6. Complete Tinapa and make it more viable.

Nigerians should be smart about these things, the arabs that bought Man City, have already built a whole new City in Dubai and only looking for business opportunities to promote the houses that has been built in dubai for western investors to buy.[b][/b]