₦airaland Forum

Love Machine:
It will do the country no good if buhari is prosecuting the administration of his predecessor only when there are still more of Alex badeh.What about starting with lord luggard's regime down to this present administration? That will be fair enough.

Bro are u for real or u are joking

I gat one

chukwudi44:
Chai!! This wike get mouth die!! Oya Dakuku come let ya popsy bless u lolz

Pa howfar u Nd saraki dey waka ;Da

OZAOEKPE:
WHOS NGIGE??

U ARE VERY FUNNY.WHO DEY TAKE UR WORD SERIOUS NA D PERSON NA IM KNOW.
DUNDERHEAD

On Monday, the price of U.S. oil dropped below 38 dollars a barrel for the first time in six years. The last time the price of oil was this low, the global financial system was melting down and the U.S. economy was experiencing the worst recession that it had seen since the Great Depression of the 1930s. As I write this article, the price of U.S. oil is sitting at $37.65. For months, I have been warning that the crash in the price of oil would be extremely deflationary and would have severe consequences for the global economy. Nations such as Japan, Canada, Brazil and Russia have already plunged into recession, and more than half of all major global stock market indexes are down at least 10 percent year to date. The first major global financial crisis since 2009 has begun, and things are only going to get worse as we head into 2016.

The global head of oil research at Societe Generale, Mike Wittner, says that his “head is spinning”after the stunning drop in the price of oil on Monday. Just like during the last financial crisis, we have broken the psychologically important 40 dollar barrier, and there are concerns that we could go much lower from here…

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One analyst told CNBC that he believes that we could soon see the price of U.S. oil go all the way down to 32 dollars a barrel…

“We’re in a tug-of-war between a heavily shorted market and a glut of oil in the U.S. and globally, as Saudi Arabia continues to produce oil at elevated levels to maintain market share,” said Chris Jarvis at Caprock Risk Management, an energy markets consultancy in Frederick, Maryland.

“Couple this with a strengthening dollar as the market anticipates a U.S. rate hike this month, oil is heading lower with a near term target of $32 for WTI.”

Analysts at Goldman Sachs are even more pessimistic than that. According to Business Insider, they are saying that we could eventually see the price of oil go below 20 dollars a barrel…

At OPEC’s meeting on Friday, member countries decided to set its production level at 31.5 million barrels per day, and did not agree on what the new limit should be.

After OPEC’s meeting, commodity strategists at Goldman put out a note saying that oil prices could plunge another 50% in the coming months, as the oil market tries to rebalance the supply and demand situation.

That may sound really good to you, especially if you fill up your gas tank frequently. But the truth is that plunging oil prices are exceedingly bad for the U.S. economy as a whole. In recent years, the energy industry has been the primary engine for the creation of good jobs in this country, and now those firms are having to lay off people at a frightening pace. Not only that, CNBC’s Jim Cramer is warning that many of these firms may actually start going under if the price of oil doesn’t start going back up soon…

“This is not ‘longer and lower;’ this is ‘longer and much lower.’There’s companies that are not going to be able to fund with futures; there’re companies that are not going to be able to get credit,” Cramer said on “Squawk on the Street.”

Cramer made his remarks after the Organization of the Petroleum Exporting Countries decided not to lower production on Friday.

“This was a devastating blow for the U.S. oil industry,” Cramer said.

On Monday, we witnessed another benchmark that we have not seen since the last financial crisis.

I watch a high yield bond ETF known as JNK very closely. On Monday, JNKbroke below 35 for the first time since the financial crisis of 2008. Just like 40 dollar oil, this is a key psychological barrier.

So why is this important?

As I discussed last week, junk bonds crashed before stocks did in 2008, and now it is happening again. If form holds true, we should expect U.S. stocks to start tumbling significantly very shortly.

Meanwhile, another notable expert has come forward with a troubling forecast for the global economy in 2016. Just like Citigroup, Raoul Pal believes that there is a very significant chance that we will see a recession next year…

Former global macro fund manager Raoul Pal says there’s nowa 65% chance of a global recession.

In July, Pal predicted that the Institute of Supply Management’s (ISM) manufacturing index would break the key level of 50 late in 2015.

On December 1, the ISM broke the 50 level for the first time since the 2008 recession, reaching 48.6.

“I use the ISM as a guide to the global business cycle, not just the US cycle,” Pal told Business Insider.

What amazes me is that so many people out there cannot see what is happening even though the next great crisis has already started. The evidence is all around us, and yet so many choose to be willingly blind.

Instead of fixing our problems after the last crisis, we just papered them over with lots of money printing and lots more debt. And of course all of this manipulation just made our long-term problems even worse

Source: http://christianpatriots.org/2015/12/08/guess-what-happened-the-last-time-the-price-of-oil-plunged-below-38-dollars-a-barrel/

Uniben4sure:
Op you are a bloody paid agent!

The fact is that Igbo's have nothing to regret for not supporting APC and b00hari. We know that b00hari is a bloody tribal cum religious bigot. He has proven that through his actions and inactions since he came to office.

BTW, let me inform you that some of those past PDP governors you mentioned actually worked. I wouldn't know for T.A orji but I can attest to the fact that the duo of Chimaroke Nnamani and Sam Egwu performed while in office.

I am presently in an APC controlled state (Edo) and I know how bad things are here. IMO state is an APC controlled state, yet nothing to show for being under APC leadership in the state. I have been to Osun and Ogun states which are APC states, nothing is working there!

The point is that we should not completely demonize PDP as if APC is any better. Igbo's support PDP because APC failed in most of the states they govern. So, enough of all these senseless talks about Igbo's not moving on and bla bla bla. Igbo's are wise and are not easily moved by propaganda which is what APC is founded on.

Let APC prove themselves better than PDP, then they can get the support of the Igbo's. I rest my case.

Sorry boss which year u cum benin.u dey wen lucky igbinedion be governor?

calebo101:
Well, i agree. The Lagos/Ibadan expressway propaganda mill factory in collaboration with the propaganda run government have to impress the millions of slaves they have in Nigeria. True, i agree.

Sorry why are u so bitter. U are behaving like a BABY

cruzita:
I see human beings putting on white and cows putting on black .no offense

HAVE YOU SEEN A COW BEFORE.NO OFFENSE

u dey advertise olumba? abi na ur church

today again.haba oga ur own dey ur body

today again.haba oga ur own dey ur body

I PITY THE TRADERS.NOT THIS PERIOD

eDoctorr:
Sharap, She's was not elected.

SHE'S WAS NOT ELECTED

eDoctorr:
Sharap, She's was not elected.

SHE'S WAS NOT ELECTED

eDoctorr:
Sharap, She's was not elected.

SHE'S WAS NOT ELECTED?

Bros they didn't say mama taraba is the first female governor BUT FIRST FEMALE ELECTED GOV take note.PLs where is SOUTH CENTRAL in Nigeria I neva hear am before na SE,SW,SS i knw.do ur research well

Organized labour in the nation’s power sector has said over 50,000 former employees of the defunct Power Holding Company of Nigeria, PHCN, are still being owed benefits, while over 5,000 have not received any entitlement at all more than two years after the privatisation of power assets.

Labour, speaking through the National Union of Electricity Employees, NUEE, also claimed that over N50billion meant for the payment of entitlements to ex-PHCN employees, has been lodged into fixed deposit accounts to yield interest to individuals while the beneficiaries are languishing in pains. In a petition to President Muhammadu Buhari, the union lamented that the 10 percent equity due to workers as contained in the Privatisation Act, are yet to be allotted to them.

The peitition said: “The 10% equity shareholding in a privatised PHCN, due to workers as contained in the Privatisation Act, is yet to be allotted. Substantial numbers of staff are yet to receive the pension components of their entitlements. There are cases of staff who have been verified but not yet paid their severance benefits, and cases of staff who statutorily retired from service but yet to be paid their respective gratuity.

There also cases of staff who are yet to be issued severance pay advice with 60 of them in Kainji Generation, 51 in Ibadan Electricity Distribution Company etc. there are cases of death benefits due to be paid to dependents of staff who died in active service. Also, there is BPE’s refusal to embark upon pre and post retirement training for PHCN workers, with over N2billion meant for this purpose yet to be declared.” NUEE in the petition, threatened unprecedented industrial unrest in the sector if the Bureau of Public Enterprises, BPE, liquidated the remaining assets of PHCN without resolving pending labour issues.

The union recalled that since 2011, when the federal government started the sector reforms in line with the Power Sector Reform Act 2005, labour has been involved in series of discussions and negotiations with government representatives, with a view to resolving outstanding liabilities.

Outstanding issues
According to the petition, three sets of agreements were reached on labour liabilities, which include: The Agreement of December 11, 2012, titled: “Agreement in Respect of Labour Issues Affecting Staff of the PHCN” between claimant (NUEE) and Secretary to the Government of the Federation, the Federal Ministry of Labour and Productivity, Federal Ministry of Power, and the Bureau of Public Enterprises.

The Agreement of October 31, 2013, titled: “Agreed Decisions between Government, Senior Staff Association of Electricity and Allied Companies, SSAEAC, and National Union of Electricity Employees, NUEE, on the Termination of Labour Related Matters and PHCN Handover Process,” between the claimant and the Federal Ministry of Labour and Productivity, Federal Ministry of Power, and the Bureau of Public Enterprises”.

Source : www.vanguardngr.com/2015/11/labour-threatens-action-over-unresolved-power-issues/

ABUJA – Ahead of the swearing in of the ministerial nominees following their successful screening and confirmation by the senate last week, the Presidency has denied releasing any list that assigned portfolios to them. The denial followed the speculated list of portfolios which made the rounds especially on social media on Sunday. Responding to Vanguard on the issue, the Special Adviser to President Mohammadu Buhari, Mr. Femi Adesina said that the list did not emanate from the presidency as it was not officially signed. “Any communication from the presidency must be officially singed. Was that list signed by me or Mr. Garba Shehu? Please, ignore it”, he said. He also did not reveal when the inauguration ceremony of the Ministers would hold. Meanwhile, the speculated portfolios go as follows: Agric and Natural Resources Audu Ogbeh (Benue), Agriculture and Natural Resources, Geoffrey Onyema (Enugu), Attorney General, James Ocholi (Kogi), Aviation Sen Hadi Sirika (Katsina) ,Defense Abdulrahman Dambazau(Kano), Defence (State) Dan Ali (Zamfara), Education; Isaac Adewole (Osun) , FCT (State) Solomon Dalong (Plateau), Federal Capital Territory Abubakar Bawa Bwari (Niger), Finance; Okechukwu Enelamah (Abia) Finance (State) Kemi Adeosun (Ogun) , Foreign Affairs . Kayode Fayemi- (Ekiti), Foreign Affairs (State) Adamu Adamu (Bauchi) ,Health Osagie Ehanire (Edo) Information, Communication Technology Lai Mohammed (Kwara) , Interior Cladius Omoleye Daramola (Ondo) , Labour Prof Anthony Onwuka (Imo), Mines and Steel Development Abubakar Malami (Kebbi) , National Planning Amina Mohammed (Gombe), Niger Delta Affairs; Rotimi Amaechi Niger Delta Affairs (State) Pastor Usani Uguru (Cross River) , Petroleum Ibe Kachikwu (Delta), Police Affairs Chris Ngige (Anambra), Power Babatunde Fashola (Lagos) , Sports & Youth Development Heineken Lokpobiri.

Source: www.vanguardngr.com/2015/11/ministerial-portfolios-presidency-denies-speculated-list/

The governorship candidate of the All Progressives Congress in Rivers State in the April election Dr. Dakuku Peterside, has condemned what he described as the denigration of the judiciary by the Governor of Rivers State, Chief Nyesom Wike, his agents and the Peoples Democratic Party.

Peterside, who spoke with journalists in Abuja on Tuesday, said “the vilification of an important arm of government like the judiciary by desperate politicians portends grave danger for Nigeria and her budding democracy. “ Both Wike and the PDP have come hard on the judiciary since the governor lost his case at the election petition tribunal and 20 members of the state House of Assembly were also sacked by another tribunal.

Peterside described the disparagement and the ongoing war against the judiciary by Wike and the PDP as a dangerous example that must be checked quickly because of its calamitous consequences. He said, “The judiciary is a sacred and respected institution. Therefore, any person or persons who openly criticise judges and their rulings obviously have a sinister motive.

“However, it is gratifying to note that people are beginning to fully appreciate the character and temperament of the people we engaged during the last general elections in Rivers State. “They are obviously finding it difficult to live under due process and the rule of law because they are used to impunity and violence, the two evils that were taken to new heights under the last government.

“If service is really the reason for being in politics, then it is tragic that these politicians are conducting themselves in such a spiteful manner. Nobody is above the law and when people openly and brazenly challenge institutions of state like the judiciary, it sends the wrong signal.”

Source: punchng.com/2015/10/1661

ABUJA—The Nigerian National Petroleum Corporation, NNPC, yesterday, stated that 278 companies were vying to secure the contract for the trading of about 950,000 barrels per day of Nigeria’s crude oil from January 2016. Speaking at the bid opening ceremony for the sale and purchase of crude oil grades in Abuja, Group Managing Director of NNPC, Mr. Ibe Kachikwu, said the Federal Government was committed to ensuring transparency in the trading of Nigeria’s crude oil. He said: “The essence is to ensure that nobody needs to call me personally as Ibe Kachikwu for him to get crude allocation. So, you can imagine the burden it takes off my shoulders. It means a good amount of my time will now go into other relevant areas of operations, where the country needs me most.” He assured the bidders that consideration would only be given to companies that are competent, credible and with the right capacity to deliver Nigeria’s crude. Bidding coys Some of the companies that submitted bids include Forte Oil, MRS, Statoil, Eni Trading and Shipping Limited, Sacoil Energy Equity Resources, RainOil Limited, Repsol Trading S.A., Indian Oil Corporation Limited, Mercuria Energy Trading SA, Gunvor and BP Oil International. Others are Obat Oil, Energy Network IBG, Groundwells Energy International, Universal Import and Export International, Global Oil Incorporated, Waltersmith, Hindustan Petroleum Limited, Societe Africaine, Nigermed Petroleum SA, Eterna Plc, Niger Delta Petroleum Resources Limited and Strategic Fuel Fund/South African Government, among others. The contract for the engagement of qualified and reputable companies for the sale and purchase of Nigerian crude oil grades is conducted in consonance and in pursuance of the provisions of the Public Procurement Act 2007 and the Bureau for Public Procurement, BPP, guidelines. Prerequisites for 26 grades As part of the pre-qualification requirements, interested companies are expected to demonstrate the possession of minimum annual turnover of USD 750 million and net worth of at least USD 300 million; ability to establish an irrevocable Letter of Credit for the payment of any allocated crude oil subject to the contract terms as well as the ability to pay an initial deposit of USD 2.5 million representing the first lifting deposit upon signing of the contract agreement, among other requirements. The 26 grade of crude on offer include Bonny Light, Forcados Blend, EA Blend, Bonga, Qua Iboe Light, Yoho Blend, Erha and Escravos Light. Others are Pennington Light, Agbami, Brass Blend, Abo, Oyo, Okono Blend, Amenam Blend, Akpo Condensate and Usan. The rest are Atam Blend, Okwori, Okoro, Ima, Ukpokiti, Obe, Okwuibome, Ebok and Asaratoru. … to reduce buyers Group General Manager, Crude Oil Marketing Division, NNPC, Mr. Mele Kyari, also said the corporation plans to reduce the number of buyers by one-third, cutting down the number of companies from 43 to 15 or 16. He said: “We have realized that in the past, we have large volume of buyers— 43 to be specific. What that means is that we were unable to guarantee supply to any of the customers and it opened room for optimum discretion. “Discretion created problems, as we are unable to satisfy any of the customers. At the end of the day, the market becomes unstable and then you have the long term effect of having lower government revenue. “Our objective is to cut down that number. This means we have to come down from 43 to something smaller. We are thinking in the region of one-third of that number; maybe 15 or 16.” Ends Nov 20 He noted that the bid process is expected to be concluded by November 20, while the contract would take off from January 2016. Kyari added that the objective of the process was to ensure that Nigeria’s crude oil gets to the ultimate end users, eliminate price shocks and curb instability in the crude oil market. He said: “The absence of having credible buyers has resorted in a situation where individuals pick cargoes and they would not know what to do with it. “At the end of the day, it would become like an overhang and the result is that you have oversupply: a fake oversupply that does not actually exist and then the market reacts to it and then you have lower value.” Bids’ spread Kyari explained that the winning bids would be spread across refiners, international oil traders and indigenous companies to reduce risk. He said: “Once we are able to deal with the issue of reducing the number of buyers, we will, as a market strategy, sell to people in groups. The crude oil market has category of buyers. It has refiners, who are the ultimate off-takers; we have trading companies and then we have Nigerian downstream companies. “Among those baskets, you need to spread it so that you do not sell to any one group. The risk of selling to one group is that they can hold you hostage, whether they are indigenous companies, international trading companies or refiners. Anyone of them that realize that you are stuck, you are in trouble. “Therefore, we are going to spread our risk across this group so that at the end of the day, we have buyers across these categories and what that does is that it creates a landing for us; it optimizes value for us and all those issues of pricing would not happen.”

Source: www.vanguardngr.com/2015/10/278-companies-bid-for-nnpcs-950000-bpd-crude-deal/

TonyeBarcanista:
A sad one for democracy! But we shall mobilise and meet APC at the poll.

The tribunal judgement was predetermined

so after all d killings dat xterized the election nd u still say dis. SMH
U NO TRY

gaetano:
It seems like you are new to this whole thing. Only people that have eyes will see. Everyone knows the penalty. It's only applies if you get caught.

there is notin like match fixin in dis game.we lost to a better side.the team plays with only one pattern which is to play long balls to the number 9 striker who holds on to the ball very well.cant u see dat we can put 3 passes togeda.

M4gunners:
You mean for biafra or for the Zoo?
Meanwhile, all you who bring in propaganda trying to distract us by saying Deltas are not biafra, i hope you can see this by yourselves? I am 100% Delta and i can tell you i am not only biafra, but i dwell on it.

Am very sure u are not from delta

50billion.

akpabio hope u are clean

sevilla vs barca live on rtb nss 22'w

barca vs sevilla live on rtb on nss22'w