Watianoengineer:
Sometimes I wonder if this Peter Obi get work. His waka waka is annoying

He has so many franchises. He got numerous destruction outlets for fast-moving consumer goods scattered across Nigeria. His business is a foregoing concern.

But I have a tinted glass permit issued for my SUV by the police.

We are waiting for the shock. If only I had known and exchanged all my money for dollars. Real Estate can't compare to this kind of profit.

naptu2:


obi58 has written so much crap on this thread There are building regulations in Lagos and you know when you get a piece of land whether it is residential or commercial. It is illegal to convert a residential piece of land to a commercial business. The people who did the conversion know this. The government must enforce the law and no whataboutism can change that.

The government is not arbitrarily removing buildings because it feels like. Those businesses are illegally situated

I put it to you that the Lagos State government can't implement this hogwash policy. Who born the Governor to remove churches and mosques because of their location?

Mallam Elrufia made so much noise on the regulation of religious preaching and was taken to court and the Executive order was struck down and so will this.

With people like this, how can Nigeria work? No democracy works without a vibrant opposition. This man is a disgrace to civilization

The Lies and Obfuscations of Reno Omorkri on Dangote Refinery Purchase of Crude Oil from the USA. This is unpatriotic and an attempt to be clever by half.

Recently, there was news that Nigeria's Crude Oil was washed in the Ocean waiting for buyers and in another instance, Nigeria was quoted as selling below market prices.
https://punchng.com/30-nigerian-oil-cargoes-dumped-over-sluggish-demand/
If you are a regular reader of Reno Omokri's X, formally Twitter feeds, you will think that Nigeria has sold all her allocated crude quota till 2027 but these are lies.

In some instances, Nigeria has sold crude oil below market prices because of geopolitics.

Secondly, if Nigeria had the capacity, it could exceed its OPEC quota as has been consistently done by Saudi Arabia at the insistence of US Presidents at several points in history.

For example, in 1986, Saudi Arabia increased its oil production significantly, causing a sharp decline in oil prices and inflicting economic pain on other OPEC members. This move led to confrontations within the organization and strains on Saudi Arabia's relationships with fellow OPEC countries. While Saudi Arabia faced criticism for its actions, it did not face any formal penalties as a result.

Moreover, in recent years including during Donald Trump's presidency, Saudi Arabia has occasionally exceeded its production quota to maintain market share and influence global oil prices. This has sometimes led to disagreements within OPEC, with other member countries expressing frustration over Saudi Arabia's actions. Despite these concerns, formal penalties or consequences have not been consistently applied.

While there have been discussions to strengthen the enforcement of production quotas within OPEC, the organization often faces challenges in maintaining discipline among its member countries. Balancing individual interests with collective goals remains a complex task, and ensuring compliance can be difficult.

Reno should not be serving politicians and cooperation at the expense of the collective interest of Nigerians.

Ade3131:
So they're terrorists in West Bank too?

When will you people stop falling for cheap Israeli propaganda?

There's no Hamas in the West Bank.

Hamas executed two people and dragged their corpses on the road on the west bank last November or December.

Hope Uzodinma is nowhere to be seen after his second-term inauguration.

matify83:
This Ude guy is just spewing spurious allegations up and down.

Does he know what 30B dollars is?

You never asked this question when Mallam Sanusi accused Jonathan's administration of not remitting $20 billion to the CBN account

Who do we accept his words to establish the fact? We don't want scanned or screenshot copies, give us the link to both documents. We want to check something.

allthingsgood:
HAHAHA Ole!!

Which business did u do in naija that gave u $4Billion

Oloriburuku

Go and research. Search Wikileaks, Orji Kalu worth. He is saying the obvious.

These people should stop weaponizing lawfare and imprisoning heads of political opposition. This is the same time Democrats intend to do in the USA to stay in power. Spits on them.

nairalanda1:


And even then, in the end, it is still the fault of 50 years of subsidy.

The palava subsidy causes, over time, losses in money, and that affects everything...exploration included.

There is a cold reason why your hero GEJ wanted to remove subsidy, and why a few of us, including people like me who were critical of him, for once opened our eyes, and saw reason with him.

Profit is the lubricant of growth.

If Buhari concentrated exploration in the Niger Delta instead of Northern Nigeria, by now we will be clocking 3 to 4 million barrels per day leaving room for more foreign exchange and crude swap if needed. The tribalism of the North is to be blamed not subsidy. Remember, Egypt, Iran and Angola are still paying subsidies while increasing their outputs.

They remitted nothing because they were producing one million barrels per day as against 2.2 millions per day done by Goodluck Jonathan administration.

Let's no forget, all these are Buharis fault. While oil wells were drying in Niger Delta because of stoppage of exploration and expansion of wells,

nairalanda1:
(TIme to defend NNPCL...hope they send my usual N20000 to the account...need to pay for the relative's admission, lol).


ON a serious note.

NNPCL Is right. Subsidy did prevent them from making a profit.

The problem with subsidy on petrol is that when the government sets the price too low, it pays a subsidy based on what it thinks the resulting loss from selling petrol would be. THE PROBLEM IS, with rising oil prices, the losses are greater than what subsidy can cover.

IN 2022, oil prices rose a lot. That meant that subsidy costs for NNPC rose way beyond what they and the government expected. If NNPCL Had kept on remitting money then, they would have collapsed and declared bankruptcy.

For comparison..in 2019, subsidy costs were below N3 trillion. IN 2022, subsidy costs rose to 10 trillion naira. And as KYari has pointed out, government does not pay them all that money....because debt servicing, and so forth was eating up a lot of our revenue.

IN 2010, GEJ wanted to remove subsidy, because he had his eyes opened . Most of you opposed him then. If you had let him removthe e subsidy (and he should have been allowed to), by now NNPCL would have made a profit.

See why subsidy is evil.

You can abuse me, but in the end, sell things at a profit, and no wuru wuru would happen. Sell things at a loss, and you make it impossible for NNPC to even pay its share to Caesar.

This set we have now is the most corrupt civil service in a century.

This is also a money laundering scheme.

Good old days of Nairaland.

Where is Aisha and Jarus?

immortalcrown:
Which means what earned her the appointment is her character and not Oyedepo's prayer.

Favour earned her the job. King Saul was favoured and anointed as the first king of Israel but he lost it because of incessant disobedience.

The problem is not floating the Naira but the constant printing of the Naira under Tinubu's regime going on as we speak.

immortalcrown:
Oyedepo prayer no?

She said Oyedepo's prayer made her appointment happen. Whose prayer suspended her?

Character is destiny. She lacks the virtues to keep the job.

nairalanda1:
(Am sure some people will call me a Tinubu supporter now, but like I said, you can never please everyone).

The real reason why the ECOWAS nations of Mali, Burkina and NIger are leaving is because power is sweet.

ECOWAS over the last 20 years has become stricter on army rule. In 2005, Togo was forced by Obasanjo to follow its constitution on how the succession should go after the death of its leader...after a coup put his son in charge.

The Army boys in those countries are enjoying being king. Dem no wan give up. Power is sweet. That is why they are leaving ECOWAS.

If Tinubu accepted them, then that means that ECOWAS is a hypocritical organisation, and it also means that Tinubu is saying that coups are ok...which sends a nice signal to twitchy ears in the Nigerian army.....


Either way, in five years, all the people of the nations that have withdrawn, then go see that army rule is just corrupt old civilian rule, with guns and repression. Then you would see some attractive women from those countries talking passionately on foreign TV about how the West needs to do something about oppression in their land......

There is nothing new under the sun.

You are not privy to the internal discussions in these francophone countries. These people are being reaped off by their former colonial masters but their elected leaders are being forced to be dancing to the tune of those subjugating their countries to perpetual poverty.

It will interest you to note that our ECOWAS neighbours expected Nigeria to hear them first before meeting with the West but alas ECOWAS decided to be an appendage to the Western colonialists.

If you look at the GDP per capita of these rich mineral resources countries, you will cry for them.

Nigeria owes them a listening ear and not indirect foreign sanctions.

Na so Igbos in the USA pushed and pursued Gay Bishop sent to their Anglican Church.

https://www.tiktok.com/t/ZPR38S2CJ/

I advise you us a short URL to bypass the ban.

naptu2:


1) The name of the blog is similar to PM News newspaper, but they are not PM News. It can easily deceive people.

2) They have sometimes published sensational news that's not true and the mods have moved the threads to the front page because they thought that it was published by PM News newspaper.

There is no rule or policy violated. Naira cannot arbitrarily manufacture nonexistent rules to punish users.

Nairaland is not a nameserver police. .ng, .com.ng, .news etc are expanded domain names and as such no business should claim monopoly of the internet.

christistruth01:
Very good

FG has now been given the perfect excuse to drive the Malian Precious Stones Miners out of Oyo State

We were already looking for how to get rid of them

Always remember there is a difference between the people and the government.

How come it was reported that they are Lebanese, Chinese and Indian.

blacknp:
Please my guy stop deceiving yourself, if they are any better why you never cross border go hustle for there.

Mention SA or Egypt, & I may not argue with you.

Do you know about the report below and what is happening as we speak? They can now buy more than enough than before while we buy less.

blacknp:
I said Kano economy GDP, not population.

I meant backward fluctuations. Nigeria is going down while they are stable.

The citizens feel the impact when you go down. Nigeria lack stability.

blacknp:
What nonsense are you imagining, Countries way their economy no even reach Kano State?

Size doesn't matter. Iceland has only 300,000 people. It's all about stability and growth in GDP per capital.

Backward fluctuations is dangerous.

blacknp:
What nonsense are you imagining, Countries way their economy no even reach Kano State?

Size doesn't matter. Iceland has only 300,000 people.

Artscollection:


Printing money is never the problem, just those dumb thieves in charge. Go and check How much America printed last year and still had single-digit inflation, I don't want to talk about China.

Ignorance is not bliss. If it's not a problem, make provision for the thieves. Print enough to include the billions that will be stolen. Problem solved.

When you don't understand economics and don't know the capability of your country, you begin to compare yourself to destruction.