₦airaland Forum

hopilo:
You see your sense of geography? So we should be looking for oil in Benue state since their neighbors in Anambra has oil in some quantity. My brother this thing don't work like that.

Bros,

1. Cut the long and unnecessary rants.
2. That Seismic survey, processing and interpretation is used to locate oil (hypothetically), is not a today's thing.
3. Your submission implying that NNPC is doing blind search gives you away as some who knows next to nothing except the concept - "Seismic survey" (which had been in use for more than a century).
4. I think you should avail yourself with what had been done in terms of exploration of the Chad Basin in the past 15-20yrs. Don't join the ignorant NLers......

kernigsloan:
Pls what is our dear Okowa launching?

That one that is busy launching Ibori the thief/His Area Fada in the newspaper

Many of you lot are simple irredeemably stu.pid. First off the whole story has nothing to do with FG, but Chevron and one of her operating communities......

The issue of community development had been a hydra-headed monster that refused to go away. Back in the days, communities will soliticit the assistance of war-Lords under the guise of community reps/youths to "confront" (actually the word should be arm-twist) Oil companies. These boys will threaten fire, lay siege on oil facilities, hold workers hostage till demands are met. There had to be a way out of this log-jam. So in 2011, Chevron created a company called IRDC, a joint company in which the Itsekiri owned equity. The idea is that the company through its board who are composed of both representatives of the Itsekiri community and Chevron, will jointly agree on required community development projects. This will be valued and costed and then signed off. Chevron will provide the funding and the company will execute the project. http://www.vanguardngr.com/2011/12/emami-emerges-chevrons-irdc-boss/

The Managing Director of that Company is the War-Lord, Ayiri Emami. Big question. So what is the complaint of the community, if they have reps as the Managing Director and Board of the company jointly agreed and set up? Has the company accounted to the communities on the programs and spendings?
http://www.freshangleng.com/news/1017-why_i%E2%80%99_ii_continue_with_my_predecessor%E2%80%99s_housing_programme__emami__

http://sweetcrudereports.com/2013/03/04/nnpcchevron-jv-supports-irdc-with-over-5billion-for-development/

Cyph98:

erinolu: :
Bloody liar.......

This is not Northeast...

1. Check the vegetation....lush and green, indicating its somewhere south

2. Look at the background, you will see pipes.....this company is laying pipeline and of course, its in the south such activities happen, either for gas or oil

3. Exploring without a drilling rig....comon guys, you can do better

Finally someone noticed!!!
Just imagine the level of gullibility of most Nigerians. With all the loopholes in the falsified information and pictures people still believe that's the North East

Is it not a further verification of idiocy+ and illiteracy++ of many NLers? Someone came up with stu.pid random pictures and appended such on a blog (unverified site) and they all gobbled it up. No wonder the saying goes that when you want to hind something from a black man, put it in a book. Many will not read, and neither will understand even if it is used to smack their faces

obailala:

hopilo: :
The technology of today use seismic survey to identify the very place you have crude oil. The era of blind search for oil is long over decades ago. Why waste money today searching for oil in an area with no seismic prove of oil. Nigeria is a funny place

And who says there is no seismic prove of oil in the Chad basin?... Just to the north of the same basin (outside Nigeria's boundaries), Chad extracts commercial quantities of oil from the same basin but you really think there really isn't any seismic prove of a drop of oil (commercial or non-commercial quantity) in the Nigerian side?

@Obailal, welcome to @hopilo's incomplete education

Waspy:
Seems you are in the know of this project... ..can you please shed more light on the different value streams, cos such info is the beauty of democracy.

1. http://www.nleworks.com/case/4th-mainland-bridge-masterplan/ - Savour the pictorial depiction of the project

2.

There is no gainsaying the fact that huge benefits will be derived from this project but most importantly, make life more comfortable for Lagosians .....

A modern and efficient transport system for the movement of people, materials and finished products is a key requirement for the sustenance of economic growth in a State like ours.

We shall therefore continue to leverage on our endowments to explore opportunities to make ours an efficient, effective and integrated transportation system.- Ambode

http://dailypost.ng/2016/05/25/full-text-of-governor-ambodes-remarks-at-signing-of-mou-for-4th-mainland-bridge/

3.

peaking at the signing of the MoU held at the Banquet Hall, Lagos House, Ikeja, State Governor, Mr. Akinwunmi Ambode, said that the need for the bridge had become imperative following the phenomenal growth of the State with a population of over 21 million people, which has in turn increased commercial activities and traffic gridlock.

“This has made it imperative for us to have a 4th Mainland Bridge that will serve as an alternative route to the Eastern axis and decongest traffic in the State.

“More importantly this bridge will provide the required transportation compliment to the rapidly growing industrial activities on the Eti-Osa – Lekki – Epe corridor of the State,” he said.

http://www.lagosstate.gov.ng/2016/05/25/lagos-signs-n844bn-mou-on-4th-mainland-bridge/

4.

The present Lagos transportation system is unarguably chaotic but it is comforting that a 14-year-old dream targeted at relieving intra-state travel pains is coming to reality. With the proposed 38 kilometre-long Fourth Mainland Bridge which will also complement the rapidly expanding industrial activities in the Eti Osa-Lekki-Epe corridor of the state, life should be better for Lagosians.

This is a milestone for Lagos in its bid to live up to its status as West Africa’s business hub and to adequately plan for its ballooning population, at present estimated at 21 million. Coming especially at a challenging time like this for the Nigerian economy, it is a laudable move. This pure economic decision is the stuff a thinking and forward-looking, service-oriented government is made of and it is hoped that none of the parties would renege on the agreement for any reason. - OP-ED Guardian

tplacid:
I think with N845 billion a lot can be done to Lagos that will bring about rapid economic development that with dwarf the development of major cities of the world.

In scale of preference construction of a bridge that will cost that much shoudn't even be on the list.
A lot of roads can be tarred with that amount ( remeber we have a lot of untarred roads in Laogs)
The housing industry can be developed with that amount such that quality houses will be available to all at a reasonable cost, this excludes the employment that will be generated through this eg developers, furniture experts, construction engineers and a whole lot more
Transport industry will have a huge turnaround with that kind of money.

This is just my candid opinion.

\

Bros,

Your candid opinion is so limited. It would have been credible if you were addressing a state where all you mention is not currently being done. If you broaden your horizon, you will see the impact and value of the bridge. Cities needs to be built. Cities are not static monuments, they need to develop. When you build bridges, you connect people. There is a huge span of industries you open up by connecting people. Imagine how many industries, houses, trades and commerce you open up in Ikorodu - Langbasa axis just because of this bridge

prosperity2016:
the worst injustice in the hx of mankind is the failure of FEDERAL GOVERNMENT OF THE NORTH TO CONNECT BONNY ISLAND TO PORT-HARCOURT.
despite raking billions of naira yearly from the place.

1. So it is not instructive to you that this is a state project, funded by state and private sector. You must always wait for FG to spoon-feed you because you have oil?
2.Unfortunately, if your senseless rants and emotion are a reflection of your leaders, then I'm afraid 25-40years from now, other states would be long gone in developing their cities through their self effort and yours will still be lamenting as you're doing now

Waspy:
For that amount (N844 billion) and the present economic conditions of the country, I would prefer if a power plant or refinery or functioning industries or at least a Mega rail project is done



Long term Revenue generating and Job creating projects are what we as Nigerians should be thinking of.. .Not some fancy bridge that will take up little available monies and huge loans/ debts




But then, what do I know. When we get to the bridge. ..

1. The bolded captures it
2. This project captures different value streams from the ones you mentioned. All are needed to complement each other

It is the height of share stupi.dity to ask a baseless set of questions and call it "Intelligent". Bros, there is reasoning beyond your secondary school level.

lofty900:
This smile is just for the camera, how can oliseh pretend to be happy with the team after the way he was rubbished by NFF to the point of resigning to save himself the humiliation of being sacked? How can siasia pretend to be happy when all the efforts he invested in the team, after leading the team to back 2 back victory at Rio Olympics NFF still appointed a foreign coach behind his back. Like I said before, leave matter for Mathias jare, it's just for the camera

You just spoke my mind on the two points

stiflerdrug:
so how come you dat can see through a wall didn't see I wrote whizkid and not Wizkid.. And Clearly I didn't mention it got anything to do with Wizkid..

Lack of understanding and poor culture

You are better off simply taking correction for your glaring flaws that this unnecessary attempt at wriggling your way out of an embarrassing situation

stiflerdrug:
I wrote whizkid yea.. Did I write Wizkid? Or say it got anything to do with the artist? How come you waste more time looking for people's error. Than focusing on upgrading your level of thought

Unfortunately, your lack of candour is worse.

If you meant what you alluded here, then what is your point after all?

Did the OP see that the name of the school is Whiz Kids? Many of you should avail yourself with dictionary and not just stay subjected to social media

Clinton9000:
Most ahithophels aka Yorubbas actually think Lagos is big especially when they bring SE in the equation. Not knowing that the smallest state in SE...Anambra is 3x of Lagos in actual landmass considering half of Lagos is water. If Lagos houses nearly 30 million today at only 20% usage of its actual landmass, Anambra will house over 200 million at 20% usage of its landmass with existing high-rise building plan. It's currently only at 10% usage!

Quick facts for the Ahithophels
Israel is only the size of Cross river at roughly 20,770 km² yet powerful and successful.
Luxembourg is only 2,590 km² which half of Anambra yet successful.

The guy below is an illiterate...doesn't know the difference between an a nominal landmass and actual landmass. Lagos Nominal landmass is 3345km2 but actual landmass excluding water is 1670km2

I am unaware when there had ever been a contest as per the underlined. It had always been in the public domain that Lagos has the smallest landmass in the country

ernesty20:
When will yoruba rice come out?

Bros,

"Yoruba Rice" (if there is something ever called) has been in production while you guys were "sleeping". In 2011, former Gov. Fashola started a Rice plantation in Imota Ikorodu. Fashola also invested in buying lands from other states to shore up production.

http://happylagosian..com.ng/2012/05/press-releasesfashola-agric-minister.html

http://sundiatapost.com/2015/08/09/lagos-state-govt-empowers-rice-farmers-with-input/


This is not counting Ambode's JV with Kebbi State

felifeli:
This Photoshop thing no go work o. Show us real pictures. Only Sahara Reporters is reporting this. Haba BBC and CNN or even our own NTA and Channels are not even carrying the news. This story get as he be. I dey siddon look sha.

Because it is not supposed to be news if not that Fayose has been made to look like a normal human being by dumb wailers

Progressive01:
Feel so ashamed how we've allowed one morally debased and intellectually challenged scoundrel and his band of spiteful cheerleaders turn such a common event into a headline story.

From the beginning, he got it wrong by saying the Aisha Buhari mentioned was in Halliburton whereas that had nothing to do with the case- but regardless, his mentally handicapped fanboys cheered him on.

Then, SR did their usual investigation and concluded the person involved then wasn't the wife of president Buhari, but even though they (wailers) tend to believe the newspaper nowadays even more than APC supporters whom they accuse of sponsoring the paper because of their anti-establishment publications under the era of the Ineffectual Buffoon, they decided not to believe this particular story.

Then the unchained mad dog challenged her to travel down to the States to prove her innocence, and his worshippers as usuals hopped on the train with him!

Now she's there, I'd just sit back and watch them summon on stage their next round of unbridled stupidity.

Bros,

Actually on appraisal, Fayose is not stu.pid. The stu.pid ones are the wailers here. Fayose is playing the coy, diverting attention away from himself. Foools here are supporting what never made sense. Even in the face of glaring evidence, they still made Fayose's idiocy look like intellect.

HtwoOw:
hahahahahahahahahahahah




Awon werey How i wish Dabullit is not on a ban , he always keeps the names of these wailers on each topic , he would have just invited all of them to screw with them


Aisha Buhari is in USA as of this moment , but then again , there are two things involved

It's either they say she used a diplomatic passport (Which is only useful at airport , not if interpol is looking for you or FBI)

or they say She made a deal with Obama , either way , Wailers will dispute this

showyourcertificate , how market ?

Bros,

Diaris Godu ooooooo

You are just reducing their excuses

Yet some of you ignorant bigoted lot will call Fashola minister of darkness

Aba Power Project: Finally a solution

Babatunde Fashola, the Minister of Power, Works and Housing, displayed uncanny leadership when on Thursday, March 31, 2016, he took the nation by surprise by getting top representatives of the two feuding parties in the provision of electric supply to the industrial city of Aba in Abia State, Geometric Power Limited and Interstate Electrics, to sign an agreement ending their almost three-year internecine war. Fashola got Interstate Electrics to pull out of Aba city and its environs, in accordance with the Federal Government’s agreement with Geometric Power since 2005 and revised the following year for the latter to build a power station in Aba and supply power to the area. Geometric Power accepted to compensate Interstate Electrics.

The purported confusion over the right firm to supply power to Aba, often regarded as the capital of Nigeria’s indigenous technology, arose when the Goodluck Jonathan government handed over the two business units owned by the Power Holding Company of Nigeria (PHCN) in the city to Interstate Electrics on November 1, 2013, as part of the geographical area covered by the Enugu Electricity Distribution Company (EEDC) in the wake of the privatisation of the PHCN assets almost three years ago. The handover flabbergasted many because the Bureau of Public Enterprises (BPE) displayed documents and published notices to prospective buyers of EEDC stating categorically that the two business units in Aba had been exercised out of the EEDC coverage area based on the 2005/6 Federal Government’s agreement with Geometric Power Ltd. Geometric Power also placed a caveat emptor notice in national newspapers.

The resolution of the Aba electricity issue by Fashola who assumed office only last November as the minister in-charge of power becomes more significant against the background that the Jonathan government did set up as many as eight committees on the matter. Each of them stated in clear terms that Geometric Power should not be encumbered in the Aba project because its 2005/6 agreement with the Federal Government and its agencies are clear in making it the legitimate electricity supplier to the area. One of the committees was headed by Yunus Ustaz, a Senior Advocate of Nigeria (SAN), and Sambo’s personal lawyer and friend. Clearly, Ustaz is a man imbued with moral principles. But the Jonathan’s government was determined to nail Nnaji and his firm to the cross by all means possible even if it meant the failure of the power sector which it made the number one issue in its campaign manifesto in the 2011 presidential vote. So, the government sat on the Ustaz committee report and seven others.


While campaigning for reelection in Abia State on March 24, 2015, Jonathan was practically forced to visit the 141Megawatt Aba Power Project by the then Minister of Finance, Ngozi Okonjo-Iweala, as well as the then Anambra State governor, Peter Obi. Jonathan then promised to resolve the problem, stating pointedly that “it is a human error”. All the news media ran the presidential declaration prominently. As my phones buzzed ceaselessly by numerous Nigerians who were excited at the prospect of Aba becoming the model of how the electricity sector should be run in Nigeria, I informed the callers that it was not going to happen.
By getting the two parties in the Aba electric power supply controversy to shift ground and make reasonable concessions, Fashola has exhibited foresight, dynamism and strong leadership. Aba will in the next few months become the first city in West Africa to enjoy quality and uninterrupted power supply for decades. The facilities already put in place by Geometric Power are world class. The tubular poles, which are buried 10 metres into the soil and are 10metres above the ground, can be found in only advanced places like Japan where they are meant to withstand natural disasters like earthquakes. The company has, in addition, built a 27-kilometre natural gas pipeline from the oil-producing Owazi community in Ukwa West Local Government Area in Abia State to Osisioma on the outskirts of Aba where the plant is located. It has also built four brand new substations and refurbished three others inherited from the PHCN. Needless to add, all the poor distribution cables from the PHCN have long been replaced.

With the resolution of the dispute over electric supply to Aba, there is renewed optimism in the Southeast that with Aba about to regain its glory as the industrial hub of the zone, socioeconomic life in the area will change automatically. After all, poor electricity has consistently been identified as the most paralyzing of all problems which have over the decades been facing businesses in the area. When the then World Bank president, James Wolfensohn, visited Aba in 2004 and asked the business community to identify its greatest challenges, each person responded “Electricity! Electricity! Electricity!”. It was actually this encounter which led Okonjo-Iweala as Obasanjo’s finance minister to plead with Nnaji, who had already successfully built the 22Megawatt Emergency Power facility in Abuja in 2001-3, to consider building a bigger station in Aba with the sole purpose of helping to unleash the tremendous creative energy of Aba which is sometimes called the Japan of Africa on account of the people’s manufacturing ingenuity.


While it is true that the commissioning of the Aba Power Project will mark a new stage in Southeast economic development, the project’s takeoff will have a huge impact on the whole nation. It will stem the exodus of people to Lagos, Abuja and Port Harcourt, thereby controlling the overpopulation of these cities. It will also relieve the nation of the burden of having to worry about power supply to Aba, as power previously transmitted to Aba will now be given to other parts of the country. What is more, Geometric will send to the national grid any quantum which Aba is unable to absorb, thereby contributing significantly to power availability nationwide. And as already adumbrated in this article, Aba will be a model in the management of the electricity supply industry.
It is truly a pity that the Jonathan government made a mess of a boiled egg. As for Minister Fashola, history will record him as one of the most far-sighted Nigerian leaders, courageous, detribalized and driven by an acute sense of the common good. He is a minister to watch.

• Adinuba is head of Discovery Public Affairs Consulting.

http://guardian.ng/opinion/aba-power-project-finally-a-solution/

redcap:
, several things on my head at the same time make Una dey jolificate, una don catch me today .

take heart Bro, it happens at times......

jaywhoco:
chieves? Lord have mercy...

redcap: :




The two Access bank chieves I saw there are Igbos, what makes you think they ain't among the financiers of the project.

Red cap "chieves" for dat matter

naijaforlife:
Although I am not a fan of PDP, it is important that we have an opposition party that may provide alternative views to governance. One wonders therefore where is GEJ? As a former President and national leader of PDP he should have been the person to bring harmony to the PDP. I thought they were all working for him to win the last general election.

Bros,

It is unfortunate that we have not had viable opposition at the moment, but it is not compulsory that PDP be the viable opposition party. In fact what we need is a credible opposition. At the moment, most of the top echelon of PDP are either tainted or have one case or the other to answer, so they do not depict the level of integrity or credibility the opposition should have. Besides, they have not even demonstrated the necessary intelligence in their approach to opposition

That they must list in the stock exchange is a fair trade,......but what I don't get is the clause "subject to favourable market conditions" ? Does MTN have an basis to give conditions? We should kuku collect our cash upfront...........

Gentle2015:
This will further worsen the naira.


The simple solution is to get more inflows ($). All this trials will only ridicule the naira the more. It is a pity

Bros,

This is simply reporting adjustment and not a fiscal policy

xukwaa:
The essence of the additional loan provisioning is to nil off the fictitious exchange gain arising from the increase in the Naira value of bad debts denominated in foreign currencies.

For example,

Bank A has $1,000 worth of bad loans. These bad loans were recognised in the books of Bank A as N198,000 (converted at the rate of N198 to $1)

Bank A provided for 100% of the bad loans. This reduced Bank A's profit before tax by N198,000

In July 2016, the exchange rate of the Naira to the Dollar depreciated to N320. As a result of this, Bank A recognised a fictitious exchange gain of N122,000 (N320,000 - N198,000) thereby increasing the profit before tax by N122,000.

However, the CBN directs Bank A to make an additional provision of N122,000. This will reduce the fictitious exchange gain initially recognised to nil (zero).


You can download the CBN circular from here: https://www.cbn.gov.ng/Out/2016/BSD/PROVISIONING%20FOR%20FOREIGN%20CURRENCY%20LOANS.pdf

Thanks Bros, I was trying to spin my head around this in simple terms. You've made it so comprehendable.........I will imagine sha!

So I read the report, then jumped down to the first few comments, and guess what? NL yoots are at it again. They will not read, They read they will not comprehend. Simple details they will not understand

In simplistic terms this is not a directive to give foreign loans, fools! Banks have been granting foreign loans since time immemorial
This is a directive to make full provision of the foreign loans and the consequences in the financial reports. This is a measure to prevent smart accountants from doctoring their financials

gists:
This man had a vision to establish the first news tv station in this country.
But his dream went even further than that and now his station has consistently won the best tv staion award for 9 (or 10) years CONSECUTIVELY!
Meanwhile, a certain Dokpesi also opened a tv station years before Channels came on air.

But while the younger Channels TV is busy signing MOU with UK partner, thus expanding its viewers' base, AIT is busy playing kalokalo with the funds that was meant to equip our army.
Well, what I know is if Mr John Mohmoh decides to approach the Nigerian stock exchange, I will definately buy handful of his shares.
Meanwhile, I sincerely console those unfortunate shareholders that bought into the Daar shares and those that fell for the Daarsat pay tv scam.

For the tribal bigots, this is not a tribal bash. Both Channels and AIT are from Edo state. Its just a case of one focuses on professionalism while the other on dirty politics.

I hope Mr. John will bring to BON the same quality of leadership that makes channels my best TV station (followed by NTA, TVC, BBC, CNN Al jazeera in that order)

1. AIT's case is emotional for me. AIT should be competing with DSTV today, they start 1 year apart.
2. AIT's gamble of overt political inclination (PDP media arm) killed it off
3. And I can tell you for free that John Momoh is richer than Dokpesi

Chinom:
I do not and will never consider this man and other retired military thieves like him as genuine businessmen. I would also become a billionaire is some moronic head of state 'dashed' me an oil block worth billions of dollars. Danjuma was a retired General at 40. Where else in the world does that happen?.

Without being tribal, I can confidently beat my chest and say that the few Igbo billionaires we have made their money from the scratch as genuine businessman. It is a statement of fact. Innocent Chukwuma (Innoson) started trading as a teenager selling vehicle parts. Orji Uzor Kalu sold Palm oil and stock fish. Cosmas Maduka was a child apprentice who rose to the top.

These Northern billionaires just had investment capital thrown at their laps. Products of a heavily corrupt system.

How then can you sound intelligent, when you're chronically tribal?

totorimi:
Let it be known to the whole world that this name Danjuma has been circulating in all government in power since I was born some two decades ago and when i check to see what this man has done for this nation to deserve such routine and cyclic govt appointment I cannot see. The only thing I see is that he has been a coupist in the past and today he is being rewarded with tax payers salary.

I checked again to see if he had ever invented anything, nothing, i looked again if he has a scholarship scheme for the youths or a football or sporting event he is sponsoring, none. So I looked into his home and I discovered that all he is doing is to marry young fine women.

The youths of Nigeria must put aside tribe, religion, ethnicity or gender and save ourselves from the shackles of old military men who have sworn to die in public office at the expense of our own time and space. We must send them all back to the village if they refuse to gerroff peacefully and honorably. They are spent wood stealing our money, marrying our wives, and ruining our country.

Two things from these 3 paragraph of crap
1. That you could not separate a private concern from a govt appointment makes who sound silly
2. That you cannot separate Theophilus from Musa means you cannot be relied upon.

I will advise that you seek more understanding and cross-check facts before you post

rhymaholic:
To say the least I'm unhappy with Buhari's appointments lately. Same old people that have ruined and ran this country down are the same people he's putting in positions.

To say the least, wrt to the topic of discussion, you have simply demonstrated how sub-par your education is...................