₦airaland Forum

Pipeline vandals at the Arepo area of Ogun State, today killed 10 operatives of the Department of State Security Service (DSS).

THISDAY gathered that the vandals had already vandalised one of the NNPC pipelines in the area and were siphoning fuel, when the DSS operatives stormed there.

It is however yet unclear how the vandals knew the DSS operatives were coming, as they used to element of surprise to overcome them.

When the gun duel ended, the bodies of the operatives littered the area and as at press time, their operational vehicle is still there.

THISDAY checks also revealed that the DSS has already involved the services of the Armed Forces in Lagos as reinforcement.

Details later

4Play:
Lagbaja, why would governments borrow less and interest rates go down as a result of domestic banks lending less to the government? It is a rather glaring non-sequitur in your argument. The government borrows because it needs to make up the difference between its spending and its income. Reducing the pool of potential lenders to the government, as you acknowledge that Nigerian banks are a major lender to the government, would not reduce government bond yields but would increase it. Unless you are arguing that a major cause of our budget deficit is the lack of a TSA? I fail to see how that makes sense.

I would argue that the TSA is good in principle but it comes at a difficult time when the economy is weak and banks are facing currency risk in respect of their foreign denominated debt. It should have been phased in gradually or postponed to a more appropriate time

The argument that this will promote private sector lending does not wash with me. Reducing the total stock of deposits in the banking system would not necessarily increase private sector lending. I do not know of any example around the world where banks react to a shrinking of their deposit base by increasing private sector lending. In a perverse way, it may actually induce a higher proportional allocation of their loan portfolio to the government as the rising government bond yields, arising from lower demand for government bonds, proves a more enticing prospect.

The best way to curb this problem of government bonds "overcrowding" the debt market is for the government to reduce supply by borrowing less. This would require that it spend less and collect more tax. So long as those enticing government bond yields are on offer, banks will have no option but to shun private sector lending in favour of the safety of lending to the Federal Government.

refreshrate:
I honor your wisdom sir! In fact i am amazed at your level of intellect. Thank you for being able to think the way you do and for this i pray God continues to increase you in more ways than you expect.

I really dont know how some foolish wastes of space come out shouting in support of this. It completely baffles me.
Now you see why they say Nigerian graduates are unemployable? If you ask them now theyll say they are graduates, well when most of their lecturers sef the books the use are from shortly after the end of the second world war which they convert to hand outs to make ends meet for themselves.

Senseless lot!

Fhemmmy:

I am sure you quoting chairman robonski of 1930..... and like someone said, lots of people are using 90 Naira to raise melange while could be up to 150 Naira

Chairman Robonski has thought me and belexyfarms that 1kg is not melange Oh but a table size grow out

And I don't even wanna mention how much dem talk to raise one because each time I do, my heart beats faster .

robonski15:
It depends on your feeding pattern and the type of feed you give to them..You will need #30-#40 to produce 1 melange and #120-#150 to produce 1 table size..

naijaguy77:
I'm sorry but this whole groundnut myth needs to end today. Nigerian youth are a bit ignorant of things and can easily be misled, so let me explain:

1) Nigeria produces far more groundnuts today than it did when we had the groundnut pyramids in Kano

2) The reason why we had the pyramids was because those groundnuts were meant for export, so they were piled up in Kano ready and waiting for the train to Lagos. Kinda like a open air warehouse

3) The colonial government at the time banned the use of groundnuts for production within Nigeria, and rather sent it to other parts of the British Empire for production, and also because groundnuts were one of the few commodities that had foreign exchange earning potential. The legacy of this ban is why older people in the village still hold "ground nut oil" in such high regard, because it was very scarce in the old days due to the ban.

4) Today, Nigeria consumes more groundnuts than we used to export, the demand for groundnuts within Nigeria is so high and the price also very attractive such that it doesn't really make sense for use to export the quantity that we produce. We can increase production capacity and export, but this also would not make much sense since there are more valuable commodities which the farmers can focus on - e.g. Soya, Ginger, Cassava, Oil palm, etc.

In essence, the groundnut pyramids of Kano did not disappear because Nigeria got lazy, the disappearance of these pyramids is not a sad thing, the farmers are producing the groundnut and they are being used here in Nigeria to create products such groundnut oil and other things. We have more than quadrupled our production of groundnuts since the 1960s, but since they are not destined for export we do not see the pyramids again. So please before you start shedding unnecessary tears for the groundnut pyramids, inform yourself about why they existed and why they are now no more. It is called PROGRESS!

Jamean:
Gghjj

Pavore9:
lf it is contract farming where a fruit processing company has a documented agreement with the farmer to buy off the harvest at a pre-determined price and quality, one already knows what he/she will be getting but the open market can be crazy with its price fluctuations and bearing in mind that Pawpaw is highly perishable, one may be forced to sell off in order avoid wastage.