₦airaland Forum

WizardOfNG:
Na wa bro. I don't get people like that dude. Legitimately successful people in Nigeria deserve whatever they have because doing business in Nigeria is very difficult.

I can confirm this first hand. The culture of corruption is ingrained and everywhere with government offices and parastatals being the worst.

If you a re unfortunate enough to need them be ready to be extorted at all level or risk them frustrating and harming your business.

Even with private businesses retailing products, be ready for virtually all your staff to be crooks.

It takes balls, innovation, energy, can-do spirit and huge people management skills (perhaps the most important quality needed) to succeed in Nigeria.

Even those from overseas who would be buying apartments in that building would have worked hard to be able to afford it.

Legitimately successful people deserve luxuries their wealth buys them. What the wealthy own and how they live should inspire ordinary Nigerians to double their hussle, acquire more skills, remain ambitious and not give up.

Their quality of thinking and education leaves so much to be desired — something everyone should be happy about, because these types of projects will attract more people with significant disposable income to live, work, and seek to earn here — which means more opportunities, businesses, and jobs will be created, even for the poorer folks.

TheBizGenius:
Yikes!!

So much passion and common sense in what you have said.

I always trip for people who are definitely smarter than I am.

To deepen your thoughts, I just realized that it's only a few people that ASUU engage. Albeit, I also understand that the government had made promises over the years to them so it's not really their faults too anyway.

Thanks for the clarity.

Thanks for your kind words — no agreement or contract is cast in stone; it depends on the capacity of the parties to execute. Re-negotiation or arbitration is the norm, or in the worst case, ASUU should go to court. This idea of going on strike will only expedite their route to extinction or irrelevance, just as seen with PENGASSAN, who have now lost their appeal with the masses. Without the support of the masses, it's impossible to challenge the government.

lexy2014:
Should?

initially, you said "will".

how are you now saying "should"?

you mentioned "jobs and contractors" and not "direct and indirect".

Can you please tell me how many jobs and contractors that will benefit from it?

Common sense should tell you its an average and its not fixed---you can look up on the internet to see the variations in total jobs created across projects of similar size. Its a fact that it will create but the total jobs cannot be ascertained on the project is completed. Jobs can either be direct or indirect ---and you can also have independent contractors---again use the internet.

Ekaka14:
My brother. When una dey call all these big, big money untop of one shinny "liability" wey politicians dey take launder money in the name of high rise building ...e dey make my blood dey hot.....e come be like say this boju-boju wey dem dey do us for that Country no dey finish sef...🤔

Let me tickle you a little, a responsible, honest , transparent and smart government will invest that money ($1.5bn) in Oil/gas and will pay off the loan in about 2.5 years post production if the agreement is start with production sharing formula where Lagos state system about 40% to the Chinese in the first year from First Oil date, then another 40% in the 2nd year and 20% in the mid 3rd year...let me explain!

@$1.5bn lagos state can enter a deal with a local deepwater offshore production company to develop
1. A deep water subsea production field with about 10 producing & Water injection wells
2. Tieback about 12km subsea Pipelines & Risers to an existing production platform with capacity to receive some extra 70,000bbl/day production.
3. Install umbilicals, production manifolds, 10k subsea trees, Sleds, jumpers all the necessary subsea jewelries and pull in / tieback to the spare capacity Host facility ( Production platform or an FPSO).
4. Part of that money will cover mobilization of installation vessels spreads equipped with Many local technical resources, welders, painters...RoV technicians, Engineers, marine crew, catering, logistics ( crew boats, supply boats & chopper runs) security, nurses, Dr's, etc... I don't want to mention all the resources here ...
5. Imagine oil price at First Oil date ( FOD) is $71/barrel ( current price for Bonny light) and the facility produces 70,000/day aftrr ramp up
6. In one day you will make a gross value of circa: $4,970 000
7. In one month (Average of 30 days): $149,100,000
8. In One year the investment will yield : $1,789,200,000 (Gross....). This is already more than the $1.5bn (assuming the interest was already a part of that capital).
9. I'm sure you are licking your lips now....so imagine you need to slash 40% to pay your chino lenders.. that will be $715,680,000 in the 1st year
8. Say you pay another 40% in the 2nd year that go be : $1,431,360,000( you never nearly pay off the loan be dat? ( and because you're paying short term, you can negotiate low interest rates too)
9. Imagine how much Lagos state can make and reinvest in infrastructure, manufacturing, jobs creation, medical research, healthcare, subsidised housing, good and safe roads( crimes will reduce if you invest in people and keep them busy while able to provide for their needs and for families too since y'all live in a "black tax" society....and to top it all the field live for the reservoir and facilities is designed for 15-20 years .....tell me wetin $1.5 bn no fit do?.....I rest my case...wetin illiterate like me sabi sef

With all due respect, what you wrote here is nonsense, because the project is not owned by the government, but by private owners—you cannot tell me or anyone what to do with their money. Besides this, your assumptions are littered with too much ignorance.

AllBlack:
And why is this here.?

I mean... it is Lagos and it shouldn't be a big deal.

$1.5 billion project is not a big deal? really? where are you from and how many $1B project is either completed or on-going in your state?

Usmanovic95:
It's only unfavorable reports from world bank they reject.Once the report is favourable,they accept it with an open arm and start waxing lyrical about how their reform is paying off.

I agree with you to some extent even though there’s merit in saying urban poverty is not same as rural poverty but $2 a day is way too small for anyone to survive—we should use that metric to create higher income for all across board.

Don’t complain innovate —the future of trade is direct to consumer.

lexy2014:
I don't think he knows how many jobs and contractors that will benefit from itand neither do I.

Can you please tell me how many jobs and contractors that will benefit from it?

On the average a $1.5B building project should create over 3000 jobs direct & indirect.

Redoil:
Your FG has has been boasting to the world of having save more than 45 billion dollars in some foreign account. Why cant they invest just 3% of that amount in Education and 2% in health then steal the rest of the money as usual by buying expensive properties in UK US and CANADA

What’s the combined budget for health and education? Should we jeopardize the stability of the FX market being enjoyed by 150 million Nigerians because of less than 2 million in the universities? They should proceed with their strike; it’ll be the last strike they’ll ever do because the government will be forced to finally do the right thing, which is to sell schools to private owners and fund higher school fees through student loans. NURTW, that’s more important to the daily lives of Nigerians, has not gotten 1% of the attention and funds ASUU has gotten over the years. Yet, if they choose to go on strike, right, it’s a national shutdown—tertiary education is not a right. In fact, I’d rather the government focus on primary and secondary education and sell off all these leeches.

Jeezuzpick:
Those who will buy into this already have houses all over the place. Houses.

Those who really need homes, just a roof over their head, a place to call home, are not asking for this. They will be happy with much less, but no one cares.

There's your value, right there.

You’re being shortsighted—do you know how many jobs and contractors that’ll benefit from it? Every society needs both rich and poor in the right amount. These are the opportunities that continue to attract people to Lagos, both rich and poor.

Riskymarvelous:
when it stand I believe you gonna stand for him like one ookan

Do you want to bet?

Curious345:
This is good news because the election was taken away from Peter obi and given to bola Ahmed tinubu obi came first atiku came second tinubu came third

Where were you in 2023? You could’ve shown up in court to prove it rather than watch your guy grasp at straws, because he obviously doesn’t have the information that you’ve; otherwise, he would have presented it.

Lexicon123:
You’re very correct. Continuous improvements is key though. And one way to achieve that is (after the elections) reviewing the obvious lapses exploited by the corrupt politicians and officials, and block such through purposeful electoral reforms.

If you have been following elections in Nigeria this is the norm; there's often some amendment to the act prior to general elections.

ayoncox:
He is right, I am a civil Engineer, except in rain forests and waterlogged areas as at 2010 10 Million Naira should be able to do 1 Kilometer in most areas in the north, because necessary aggregates are very much available at affordable costs. But because of corruption we often escalate the prices, that is why most times government kicks against individuals and religious bodies like churches from doing roads or repairing them

At $65,000 per km, it should be cheaper than anywhere else in the world. Do you mind mentioning a couple of those northern roads? For it to be that cheap, it has to apply economy of scale, which would mean these are notably long stretch roads. We can argue quality but not price. You can look up construction costs in other countries, including those with the same economic trajectory or within the same West Africa region."

There’s something wrong with this report; perhaps it’s dated, because I have been tracking Ghana’s inflation since the president assumed power, and I know it’s down to single digit 9.4% by September.

shox:
get your facts right agbadoid. 10 million that year pass $60k.

As una don too devalue the naira over the years. You have forgotten it’s true strength

Can you mention the roads that were constructed at $60K between 2011 and now? That’s the pre-devaluation era — if you can’t, then I’ve earned the right to call you and the OP the names you both deserve

Lexicon123:
It’s how these people think we are all gullible that beats my imagination! I kept the video of the count results in my polling unit in Lagos for almost two years, wondering “who can salvage my dear country?!”. “How can a party with 200+ lower votes upturn the first position when the highly mutilated ‘original’ copy got published in what was supposed to be the authentic source of info for vote cast?”; “Should everyone become a rogue and thief to defend his/her vote?!”.

Just stop abusing our collective sensibilities, since we’ve all moved on!!! It’s getting past time for the much needed electoral reforms. Not one that INEC will change interpretations of transmission of results at the last minute.

No country has a perfect electoral system, not even the UK or the US; it is always a work in progress. However, if you simulate the election results 1,000 times, you will consistently get the same outcome. You’re not more insightful than those who chose not to challenge the results in court, as it is mathematically impossible for any other outcome than the one declared. To understand this, you need to examine the distribution of results across the entire country — not just one state, region, or polling unit. The electoral authority has made some progress, but still has areas that require improvement moving forward.

alezzy13:
To me, the issue is not Nnaji or even Senate that screened him. Those are politicians, so thier personal interests will always take precedence.

The real issue should be the DSS that actually cleared him. This is an organisation that should be strictly apolitical. if they had at least flagged it, but that NASS chose to ignore, it would be different.

This reveals a very troubling insight into thier operations when dealing with actual security threats. Is this how they 'ignore' certain crucial intelligence reports??

Exactly—this must result in a total restructuring of all intelligence agencies, as only God knows the extent of their complicity in the country’s insecurity.

IGR exists largely because of FAAC; remove monthly sharing and allow states to keep all revenues generated within their jurisdiction — you’ll still have similar outcomes but with very high income disparity amongst the states. Those ones with low IGR as of now will either have to merge or cease to exist, because without FAAC it’ll be impossible to maintain law and order.

IGBOSON1:
These peoples warped idea of politics would have been laughable if it wasn't so pathetic! I mean, can't you run for re-election based on your 1st term record? By this frantic desperation to try and poach all opposition governors and legislators, you're indirectly telling us you have no confidence in the ability of your record in gov't being sufficient enough in convincing the electorate to vote you in for a 2nd term!

If you’ve a leaking roof, should you be complaining about rainfall or bother yourself with how to fix your roof?

givedemwotowoto:
Senate committees have fully functional offices, fully staffed with career civil servants employed by the National Assembly Service Commission. These are career civil servants so the senators don’t hire and fire.

Yes the DSS does screening. Yes the EFCC and ICPC do screening. Yes the National Assembly does screening. These independent screenings happen for a reason. One of them should’ve caught it. They all failed.

Between the National Assembly and the security agencies, which one has the expertise in fraud detection or identifying fake certificates? This represents a failure of the intelligence agencies, especially since the National Assembly often depends on the intelligence provided by these same security bodies. The implication is that our intelligence agencies may be staffed by either incompetent individuals or those involved in certificate forgery themselves.

AMINDA:
Exactly. They know he will be too hot to handle. Elrufai is squeaky clean and also blunt to a fault. Bad combination for the cartels.

You lots are impossible no human on earth is squeaky clean —none. What matters is if they’re legally clean which unfortunately the said minister is not.

givedemwotowoto:
The National Assembly has committees that do these things. They have fully functional offices with huge budgets and staff. Where do you think committee budgets go to? They can get any information they want. There are budgets for these things, so there’s no excuse.

Regarding security clearance, the key authority lies with the security agencies, not the National Assembly. After all, who would you expect to be more thorough in these matters: politicians, who may not return after an election, or career security agents responsible for managing and protecting information with national security implications?

guobe:
A couple of years ago,roads were constructed with about 10 million naira per kilometer.
The amount presently being used in constructing road per kilometer has so skyrocketed that it is very difficult for anyone that knows to mention it and you won't even hear it from me too even as I am an Engineer.
The inflation currently in the country has cut across so many things and it will be very difficult to construct roads with this present amount as it is just too expensive to say the list.
We are in a dire situation.

Are you sure roads were built for under $30k per km just couple years ago? Do you even know what 1 km means? Show one example, or stop pretending you know what you’re talking about

givedemwotowoto:
Yeah the entire system failed! I think they were in a hurry and simply trusted the nominees especially if they were issued security clearances. Those huge committee budgets ended up in private pockets, same with the security agencies. Even EFCC and ICC review financial declarations as well and should’ve checked for forgeries on nominee documents. The whole system failed.

In my opinion, the responsibility ultimately lies with the DSS and security agencies, as other parties, including the presidency and National Assembly, depend heavily on their outputs. What is the purpose of security clearance if it does not verify employment, education, or prior experience claims? At the core of this issue is our collective and individual disregard for accountability, which I believe encourages people to exploit the system. matter.

You’re only able to cite these instances because the owners went to court kindly advise the current victims to do same.

Gotocourt:
You are not brainy, the north central is the new battle ground. With GEJ on the ballot, Tinubu should forget. It's going to be GEJ vs Atiku

If North Central is the battleground, then Tinubu is poised to secure victory well before midday on election day. He is already leading in 4 of the 7 states—Niger, Kogi, Kwara, and the FCT—and is expected to garner more than 25% of the vote in Benue, Plateau, and Nasarawa, and that is a conservative estimate

nairalanda1:
The problem is, let's bring in an army government that would reduce gas prices.

The problem is , the cost of producing that gas remains the same, so the army government would have to pay subsides to keep the gas prices low

Where would the money from subsides come from? The education, healthcare and other segments of the budget.

And at a certain point they won't be able to afford the subsidy, so prices rise again

Plus the people that bring you the gas are Nigerians who want to be paid decent salaries in this tinubulation economy. Unless you want to pay gas workers salaries as low as 10000 naira monthly.

You’re overthinking a simple supply chain disruption—in a matter of days, you’ll have stability.

DomPerignon:
As per Atiku,they needed to lure him into their party so as not to repeat the vote splitting the three horse race in the last election saw Tinubu wining.

The ADC wants both Atiku and Giringori in their party and on the primaries ballot so as to cage them .

ADC has Amaechi as their candidate who will do one term only and handover to a northerner amongst the cabal.

This is where Giringori came up with his OTP proposal in a lame bid to get the cabal to support him instead of Amaechi buy the cabal only knows and trusts Amaechi and not the marauding charlatan that is Giringori.

I’m not sure this is your theory is correct — ADC = Atiku. You seem to have forgotten that some of the Buhari cabals actually supported Atiku to win in 2023. Who do you think benefited from cash scarcity during the election?

ogolemati:
is it not the duty of you old members of Agbero union to always look into what all this newly recruits does in this platform.beside why not assign a busstop to him instead of all this irrelevant posts

Please, I beg you in God’s name, if you don’t have any logical response, don’t reply to my posts.