₦airaland Forum

kaorama:
Where exactly does the capital flow into?

I was wondering exactly how the determination is made. Someone pls educate me.

Liar, Falana

Section 89 of the 1999 Constitution:

[b]89. (1) For the purposes of any investigation under section 88 of this Constitutional and subject to the provisions thereof, the Senate or the House of Representatives or a committee appointed in accordance with section 62 of this Constitution shall have power to -

(a) procure all such evidence, written or oral, direct or circumstantial, as it may think necessary or desirable, and examine all persons as witnesses whose evidence may be material or relevant to the subject matter;

(b) require such evidence to be given on oath;

(c) summon any person in Nigeria to give evidence at any place or produce any document or other thing in his possession or under his control, and examine him as a witness and require him to produce any document or other thing in his possession or under his control, subject to all just exceptions; and

(d) issue a warrant to compel the attendance of any person who, after having been summoned to attend, fails, refuses or neglects to do so and does not excuse such failure, refusal or neglect to the satisfaction of the House or the committee in question, and order him to pay all costs which may have been occasioned in compelling his attendance or by reason of his failure, refusal or neglect to obey the summons, and also to impose such fine as may be prescribed for any such failure, refused or neglect; and any fine so imposed shall be recoverable in the same manner as a fine imposed by a court of law.

(2) A summons or warrant issued under this section may be served or executed by any member of the Nigeria Police Force or by any person authorised in that behalf by the President of the Senate or the Speaker of the House of Representatives, as the case may require.[/b]

http://www.nigeria-law.org/ConstitutionOfTheFederalRepublicOfNigeria.htm

The Federal Capital Territory, Abuja has become the leading recipient of foreign capital inflows, commencing from the fourth quarter (Q4) of 2017.

In the first quarter (Q1) 2018, the nation’s capital also overtook with an inflow of $3.54 billion, the National Bureau of Statistics (NBS), has revealed in its ‘Capital Importation (Q1)’ report, which has just been released.

This indicates an increase of 32.24 per cent from the figure recorded in the previous quarter, when it reported $2.68 billion.

At the same time, capital importation to Lagos increased marginally by 4.59 per cent from $2.55 billion in the last quarter to $2.67 billion in Q1, 2018, while Capital Importation to Akwa Ibom was $43.62 million, which is a decline of 65.05 per cent from the figure reported last quarter ($124.85 million).

In contrast, Ogun, Bauchi, and Kano States witnessed strong growth in foreign capital inflow in the first quarter, each recording respective growth rates of 182.06 per cent, 370.59 per cent, and 154.84 per cent on a quarter-on-quarter basis.

The NBS also revealed in its just-released ‘Nigerian Capital Importation (Q1 2018)’ report that the total value of capital imported into the country in the first three months (first quarter) of 2018 stood at $6,303.63 million, representing a 594 per cent increase (year- on–year) from $908.3 million in Q1 2017.

According to the agency, the first quarter in 2018 saw a continuous growth in total capital importation into the country, the fourth consecutive quarterly increase since the second quarter (Q2) 2017.

A breakdown of the Nigerian capital importation by country of origin showed that the United Kingdom (UK) kept its leading role in capital investment in Nigeria in the first quarter of 2018, with $2.25 billion capital invested in the country.

This inflow accounted for 35.73 per cent of the total of capital inflow in Q1,2018, it was also a 39.89 per cent increase from the previous quarter and a growth of 644.55 per cent over the corresponding period of last year.

As well as the existence of a historical relationship between the UK and Nigeria, London (its capital) is also a principal financial centre, which explains the high value of foreign capital from the UK.

Since 2010, the UK has accounted for the highest value of capital importation in all but two quarters (both in the second half of 2015).

Similarly, the second most significant value of capital importation came from the United States, accounting for $1.26 billion in the first quarter of 2018 or 19.99 per cent of the total quarterly capital importation.

The US has also been one of the most important investors in Nigeria, usually either the largest or second largest investor country. The next two largest investors in the first quarter of 2018 were South Africa and Ghana, which recorded $493.22 million and $380.14 million capital inflow into Nigeria in the first quarter respectively.

These two countries’ capital investment accounted for 7.82 per cent and 6.03 per cent of the total quarterly capital importation in Q1 2018.

Capital Importation from South Africa increased by 79.29 per cent from the previous quarter and by 673.19 per cent relative to the first quarter in 2017.

The first quarter in 2018 was the first time since 2013 that Ghana made a significant capital investment in Nigeria, which made Ghana the fourth largest Capital Importation source country for Nigeria in the first quarter of 2018.

According to the NBS, the increase in capital inflow in Q1, 2018 was driven mainly by Portfolio Investment, which grew from $3,477.53 million in the previous quarter to $4,565.09 million, accounting for 72.42 per cent of the total capital importation during the quarter.

Capital importation is divided into three main investment types: foreign direct investment (FDI), portfolio investment and Other investments, each comprising various sub-categories. Since 2017 Q2, portfolio investment has been expanding faster than the other two categories, remaining the largest component of capital imported in Q1, 2018 at 35 percent of total capital imported.

Foreign direct investment and other investment accounted for 3.91 percent and 23.67 percent of total Capital Importation into Nigeria in the quarter under review.

Capital inflow in the form of Shares in the first quarter increased by 3.05 percent from $3.68 billion reported in Q4, 2017 to $3.79 billion in Q1, 2018. This component has recorded a steady rise since the first quarter of 2017, with Q1, 2018 being the fifth quarter of its consecutive rise. The percentage share of Shares investments to total Capital Imported however, decreased from 68.37 percent in the previous quarter to 60.17 percent in the first quarter of 2018.

In the Q1 2018, banking remained the leading sector for foreign capital Inflow which attracted the most considerable amount of capital investment. During the first quarter, $1.18 billion overseas investment flowed to the Banking sector, which accounted for 18.7 percent of the total Capital Importation.

Financing exceeded production, servicing and telecoms sectors to become the second leading sector to receive capital investment, attracting $485.41 million during the quarter. This was followed by the Servicing sector with $328.15 million, Production sector with $144.09 million and Agriculture with $130.90 million.

https://www.google.com.ng/amp/s/www.thisdaylive.com/index.php/2018/05/12/abuja-overtakes-lagos-in-foreign-capital-inflows-2/amp/

Proudlyngwa:


Who is the presidency







Having read the said speech, I can categorically say a lot of Nigerians are intellectually lazy, why not make a move and find out if the dismissed speech was actually made by Buhari or made up, let's disprove everything with facts not emotions.

Those words have been in circulation and subject of much talk for three years. Dont you think it strange that it was never denied - and a denial only comes after the New York Times highlights the words?

Don27tiky:
people like u are enemies of Nigeria. At least they are fighting corruption. If they were doing this since 2003 by now nija would been better.

If you believe that this government is fighting corruption, you are at best a naive child and at worst an arrant f.ool

post=67409819:
PLEASEEEEEEE DO!
Nigeria must be great again.
It's so alarming what these thieves and rogues have done to our nation!

It is alarming how randomly and selectively our govt acts on corruption. Vendetta, probably.

Mods, FP Please!

laudate:
I am very curious. You mean Louis Edozien was appointed the Perm Sec of Ministry of Power without any experience in the civil service?

Yes

How??! And none of the workers' unions in the ministry petitioned against this anomaly?

Nigeria for you

As for his not having an NYSC certificate, well....was he given an exemption? It is said that once you are above 30 years old, you can be exempted from the scheme. So why didn't Edozien simply get a letter of exemption from NYSC?

He never bothered.

As for the Director of Audit, I sympathise with her. She stepped on powerful toes without having a godfather to back her up. She should sue Edozien and the NDPHC in a competent law court for wrongful dismissal or wrongful termination of appointment. This is so unfair!

Very unfair and we should raise our voices. Take the link of this page to FB, whatsapp etc.

_{cc:lalasticlala, front page please!}

Oya now, Lalasticlala - Seun - this is more than Front Page worthy. Is it only what Tiwa Savage wears and what Tonto Dikeh says that is worthy of the Front Page? Come on guys!

tuniski:
It is their way! The GM was just a pawn in the game of chess.

We should not accept this sort of abuse of power in our society anymore. We should raise our voices against it as we did for Babachir and Maina and let the right thing be done.

Letters

Lalasticlala, Seun - Front Page please. This story unveils abuse of power at a monumental level in our country

.

menxer:
1 In the beginning God created the heavens and the earth. 
2 Now the earth was formless and empty, darkness was over the surface of the deep, and the Spirit of God was hovering over the waters.

3 And God said, “Let there be light,” and there was light. 
4 God saw that the light was good, and he separated the light from the darkness. 

Genesis 1:1-4 (NIV)

While meditating on the above portion of the Bible I was captivated by the bolded.

If light was created and separated out of darkness, who created darkness or where did it come from?
What is "the deep" and how did it come to be?
Waters was only separated but not created. Who created waters or where did it come from?

If the earth was formless and empty, is that not in support of scientific position that matter at the basic level is empty and that every thing was formed from gases (formless)?

Mulling over these questions, it seems these things have the same origin as God: Consciousness.



Caveat:
This has nothing to do with (dis)proofing the (non)existence of God, but an attempt at pushing at the boundaries of the known.

My dear friend you have asked very sound questions which should come to the mind of any seeker of truth. However let me just say this: I have learnt that the stories in the bible, especially those concerning creation and original sin, are allegories so deep and profound that they elude the understanding of most people.

Do try to read them with a deep and sharp eye. Much rests hidden there.

Let me tickle you with a little question: what do you think is the animal skin referred to which was given to Adam and Eve to cover themselves after their fall?

PanickMode:
I have been struggling over the months doing menial jobs and saving up the little I can because I took a decision to be self employed by the early phase of this year i.e being an entrepreneur although I have no experience whatsoever. My total savings sums up to about 700k and I need an advice on what will work for me with that amount without regrets..No advice is too little for a brother without experience.

Listen to me my child, and do as I tell you and you shall not regret it: yield the money unto me; behold, give it over to me, Child.

And I will approach thee and I shall help thee.

Is it just me, or is there consistent fraud by our mobile networks via Value Added Services Channels?

For instance, I keep receiving messages stating that my subscribtion to XYZ service which I never subscribed for, has been renewed, and N50 or N100 deducted from my credit. This is most fraudulent surely. What makes it really mean and conniving is this:

1. I have not subscribed for the service - but I suddenly start seeing these messages telling ME that my daily/ weekly/ monthly subscription has been renewed and X amount has been deducted.

2. I am then given an option to unsubscribe by texting to a short code.

3. This text to the short code also costs money at a special rate! What this means that with or without your consent, the Operator and the Value Added Service Company just compulsorily take your money.

This is daylight fraud and its happening on my lne almost daily.

Please i'd like to know the experiences of others.

Lalasticlala.

Frontpage please

solite3:
John the baptist is greater than Mary!


Mary was just a dirty sinner like everyone else who was saved by God's grace alone

And a clear fornicator and liar as she slept with someone else, got pregnant and lied to Joseph about Yahweh raping her