₦airaland Forum

BackDatAssUp:
The debt that was cleared was that mainly drawn from international money borrowing institutions like the IMF, World Bank and Paris club and did not include those sourced from bonds, securities, bilateral loan agreements with other nations, local banks and contractor fees.


And mind you it is not federal debt but national debt which comprises of total debt incurred by Councils, States and the FG.

Why cant your mind think broadly and expand on the thought expressed by Fashola?

He did not mention IMF or Worl Bank explicitly but can you ever imagine that Eko Atlantic is being financed by a bond market?

A network of metro rail system using its own power grid to operate is financed from a bond market?

C'mon! I give up on you.

BackDatAssUp:
Ask Kano State government.

Last I checked, Kano has the highest population from both census and registered voters.

Besides, how many people does fashola's fascist administration cover in health and education? There are more private schools and hospitals that cater for more people than what Lagos state provides for.

These are all lame excuses that don't hold water.

Again, Lagos is not using Kano as a model for its growth. Drop that thought!

BackDatAssUp:
And besides lagos gets as much as it gets from the federal purse based on population figures and the IGR they enjoy is tied to the population as well.

So when the fool wanted to depopulatedl Lagos he did not know that population is one of Lagos greatest advantage and assets in the sharing and revenue formula,

You are expressing your sentiments in this response.

Go back and read what Fashola said. Let me give you a stark reality in case you did not comprehend his explanation.

Traditionally we inherited a society that is apathy to debt....but we are evolving a new society, one that aspires to be like America.

The glitz and glamour, the economy and security of Lagos is what appeals to Internally Displaced Persons that migrate from NE and SE to come and live and be part of Lagos society.

We must continue to support that aspiration and the appeal of Lagos as a desirable place to live. It is not cheap!

Beside, Lagos is no longer competing with its sister states in Nigeria.....we are aiming to compete with international cities and position Lagos on the global top places to do business. There is no international city of rank in that list that is debt free. Get on the internet and look up the debt and credit ratings of cities like Rio, Dubai, Miami and so on...

Lagos is not aspiring to be like Onitsha or Kano or Port Harcourt or Abuja.....we are gone and trying to displace cities across the Seas from their ranking on the list.

Caustic people and bad belle like yourself are throwing spanners in the effort for us to progress.

funkybully:
This foolish governor thinks He is smart. The 60 billion debt the silly osibanjo was talking about included Nigeria's debt Since 1960. Of Which Lagos and rivers are major contributors.

Silly APC hypocrites

I think your graph looks good and convincing, your explanation on the other hand, hhhhmm......i dont know!

Do us a favor, using your graph, bring a itemized list and break the Lagos debt into its components by sector.


How can the 60bn Federal debt be retroactive to 1960 when madam Ngozi already claimed credit for cleaning all that up in her first role as Finance Minister?

Be reminded that I have a new role in Nairaland....i have declared war against prodigal graduates that come in here with half-baked intellect and attempt to dominate discussions. Make your degree talk credibly for you when you engage in here.

BackDatAssUp:
The question that needs to be answered is if Fashola took out loans and is leaving Lagos indebted.

With lowering revenue from the federation account as a result of crude revenue dropping that means Lagos will have far lesser revenue because Irrespective the Bank loan must be repaid.

So the question fashola was meant to answer is not what he did with the loan but if he took out a loan in the first place.

But your alafin Gbese will not understand because borrow-borrow and long throat of another man's resources is in your genes.

How in the hell do you administer the obligations of social contract with a population load of 21 million heads anywhere in Nigeria and remain debt free?

Please teach me, id love to learn a new principle in voodoo economics.

A BILL FOR

An Act to Provide for the Prevention of Hoarding and Profiteering in Essential Commodities in Nigeria

and for
Other Matters Connected Therewith


Sponsored by Senator Otaru Salihu Ohize
[ ]



Be it Enacted by the National Assembly of the Federal Republic of Nigeria—



1.—(1). As from the commencement of this Act, no person or group of
persons, association of individuals shall, engaged in any form of hoarding of
and profiteering in the commodities contained in the schedule to this Act .



2. Notwithstanding anything contained in any other enactment or law
the Minister shall, by notice in the Gazette, fix the maximum prices in respect
of the commodities in the schedule to this Act which may be charged by a
dealer or retailer in respect of such commodities from the retailers.



3.—(1) Whoever profiteers in any the commodities contained in
the schedule to this Act is guilty of an offence and is liable to 2 month
imprisonment or to a fine of x20,000 or both and the commodities in respect
to which the offence was committed be forfeited to the government,.


(2) Any person found deliberately hoarding in any of the commodities
in the schedule to this Act or other commodities generally required for daily
consumption is guilty of an offence and is liable to 3 month imprisonment
or to a fine of x30,000 or both


4.—(1) Any dealer, retailer or wholesaler who without reasonable
excuse—
(a) refuses to sell any of the scheduled commodities ;or
(b) refuses to sell any of the scheduled commodities at fixed price in respect
thereof under section 2,
is guilty of an offence and is 7 month imprisonment or a fine of x50, or to both.



(2) Any purchaser or consumer who purchases any of the scheduled
Commencement.
Prohibition,
etc.
Government
to fix
maximum
prices
Penalty for
[SB. 301]
hoarding and
profiteering.
Penalty for
refusal to sell
and purchase
goods at fixed
price.
Power of
seizure.


C 2600 2009 No. Prevention of Hoarding and Profiteering
commodities at a price more than the maximum price fixed thereof under
section 2 is guilty of an offence and is liable on conviction to 5 month
imprisonment with option of fine.


5. Where a police officer has reasonable grounds that there has been
a contravention of any of the provisions of this Act, such officer may after
recording in writing the grounds of his belief, at all reasonable hours enter and
search, without any warrant, any place where a dealer ,retailer or wholesaler
keeps, or is keeping any of the scheduled commodities accounts, registers or
anything such officer may deem fit and if necessary inspect, seize or retain all
or any of them for so long as they may be required for further investigation
into any offence under this Act.


6. A police officer may arrest without warrant any person who within
his view commits an offence under this Act.


7. Prosecution of offences under this Act shall be instituted by the Judge
of a High Court.


8. The federal High Court shall have jurisdiction over this Act.
The Minister may by notice in the Gazette add to the schedule any
commodity he considers important.



9. In this Act, unless the Context otherwise requires—
“dealer” means any person partnership or firm carrying on the business of
selling;
“Court” means federal High Court;
“ Hoarding ‘means accumulating essential goods or stocks intended for
sale to consumers;
“Profiteering” means the sale by a dealer at a price higher than the fixed
price
“Scheduled commodities” an y of the commodities specified in the schedule
to this Act;


10. This Bill may be cited as Prevention of Hoarding and Profiteering Bill, 2009.


Explanatory Memorandum



Prevention of Hoarding and Profiteering 2009 No. C 2601

This Bill seeks to provide measures for the prevention of hoarding and
profiteering in essential commodities of daily use of citizens.



Schedule

(1) Wheat

(2) Rice
(3) Edible oil
(4) Sugar

(5) Baby food

(6) Books
(7) Milk
( Kerosene

(9) Petroleum products

Melancholy:
I was listening to RAYPOWER where the CEO of CAPITAL OIl joined the program saying "y should i be part of it when am not consulted and i know it is outright political action. Do u know how many people in hospitals waiting for fuel to power generators? And besides that, those who made the pronouncement were not the owners of assets. Tell me any marketer that have more asset than capital oil? If they want to do business let them come and dialogue. I can supply more than 300 hundred tankers per day they know i have the capability". For the record, i bought fuel per litre for five hundred naira and here comes a saviour to douse and ameliorate our stress i say kudos to capital oil! Nairalanders ur take. Cc: lalasticlala

Ubah should get his acts together FAST, and he has one week to get a new mindset about his role in the market. He is nothing but a oil trader....he is not saving anybody. You dont hoard a product with the calculation to hold the nation to ransome. Morally, ethically and economically wrong.

After the change of government this guy should be made to realize the connection between oil and securityof this nation. Fvk him.for hoarding commodity!

OP,
I am shifting my despise and hatred from Ibo to university graduates that fail to apply the benefits of academic training. I am starting a war on prodigal graduates. Watch out!

You failed on this topic to recognise that oil is a national security and on that principle alone anyone that blocks, threatens or interefere in its availability and utility is a risk to national security and must therefore be treated as an enemy of nation, and not an hero or a savior.

Watch out next time you open a thread without giving it applicable logic and sense of balance.

Make your degree work for you and dont fvk up!

TI...my lord, I miss you.
May your soul rest in peace!

When the monkeys that habitate this tree return from their field trip this man will have difficult time telling them the nation has a new president. To a pack of rhesus the tree has more meaning and value than nigerian president.

Neither one of the pictures is good. Im beginning to believe that this Osinbajo is a space filler, when Buhari's 8yr term is up Asiwaju will drop Fashola or Aregbe in. Osinbajo is playing his assigned role very well and these pictures say it all.

When its time to boo this VP let me know so i can bring my megaphone and vuvuzela with me. Rubbish!

We are glad Yale took the position because it is now registered to the world and the awareness that Okonjo-Iweala is an incompetent and over rated technocrat is spread globally.

She has been projected, successfully and rightly so, as a liability...and not an asset to the national and regional economy.

This raises the risk and makes her unappealing for hire by any international body working for the upliftment of human society on a global scale.

Ikengawo:
Yoruba lost.

Yoruba did not loose.

Yale never said they disagree with the arguments postulated in the petition letter....they only said they have a tradition they are unwilling to break, however strong the case presented in the petition.

In other words, they are sticking with policy, even when it is faulted on principles.

Get it right!

nzeobi:
Obasanjo is not God and have no say about your destiny,
I wish atiku was the president elect, he is just too full of ideas needed to run this nation.
He also has friends and contacts across all the regions in nigeria

nzeobi,
If Atiku had won his party primary and contested against Jonathan the result in East will not change what is. You rejected Ngige simply because he belonged in ewedu and amala and cow herder party, samd camp Atiku is in.

Stop your buyer's remorse and embrace your position as the opposition party.

If you didnt vote any APC senator (native Ibos) in any of 5 states in Iboland, i dont see how you are going to vote a man from Yola, which not too long ago was called Gongola State.

The last episode Buhari had with Britain was back when Late Margaret Thatcher occupied 10 Downing and it was over his forced abduction and drugging of Late Umaru Dikko for undocumented extradiction back to Nigeria.

Over the years since, Buhari has grown and more settled into the wisdom of international relations. Since winning his party primaries he has been open and reconciliatory with past foes.

There is no doubt this man is going to revolutionize the country. It's a great development and political dividends if he can bring the youths along in this new wave of progress and stability. The revolutional change that youths and citizens of Middle East shed blood to achieve, Buhari is going to apply the wisdom of age and fortitude to secure, violent free!

Sunnybobo3:
Here you go.

He said show Jonathan at 10 Downing, not at a supermarket!

Makes my tongue stick out...ahem, excuse me, i mean, my abunna!

@post
I hate people who spent 4yrs going to university when instead they should have used time productively learning how to be a tailor, a goldsmith or even a lithographer.

Please guys with university degrees, learn to read and apply the lessons practically to scenarios and events.

First, Buhari flew commercial instead of private official jet to London. When asked why he responded that he was on private visit.

Second, he was offered diplomatic protocol by the Nigerian High Commission in London. He turned it down, including the luxury of a double "R", and when asked why, he explained that he was on private visit and had made own arrangements for the unofficial visit.

So....OP, when you see this captioned scene at 10 Downing Street, you are expected to make situational judgement. Buhari must have turned off all protocol for the visit and excused his guest from the trouble of glitz and glamour.

Please make your academic degree work for you....use ya gaddem sense!

There seemed to be better service delivery by the government during the period we ran the regional government system. I had said that in my paper to the last Constitution Conference. I wrote a very comprehensive paper on that. I believe that the powers of the Federal Government are too many and there should be power devolution to the state and local governments.

Who else holds this view beside Atiku?

Bisi Akande
Gov Fashola
Gov Aregbesola
Ango Abdullahi.

What does this say about the future unfolding under APC? The President's men want it....so it looks like regionalism is in our future within next 4years.

What's going on?
Which bridge is commissioned, the second niger bridge?!

Hurrraaaayyyyyyy!!!! Congratulations to all my Igbo brothers on this milestone achievement.

People have been walking from Enugu to Lagos since 400bc. Why do you think Lagos is swollen with Ibo population.

seeing is believing....

@post
while Ibo Governors are developing lands and building super malls in Abuja and Lagos, Akpabio get sense and put mall in his own land for his own people to generate and redistribute wealth locally for progress of his people.

Where are the Ibos to come and learn lessons from their wise brothers? This is how you develop your homeland.

bloody freaks!

Ilekeh,
Reply me sharp sharp.....who be that beyonce ?

Deep in his heart, FFK is wishing he could find a safenet return to APC...but he is restrained at the thought of a humility that will follow.

Why did he leave APC and joined PDP to begin with?

PDP used his alleged corruption case and the fear of EFCC to ransom him. To get EFCC off his back he joined PDP. Similar tactic was used to stop Govs Aliyu of Niger and Lamido of Jigawa from leaving PDP to APC when the Governors forum splintered.

FFK covered his indebtedness to EFCC and crossover with a silly excuse and claimed falsely that APC would field a Muslim/Muslim leadership and then Islamize Nigeria.

PDP has lost rulership and post May 29 will not have the power to touch FFK with EFCC threat. He will not be invited back to APC and even if he solicits a way to return he will not be recognized.

This is the end of road for FFKs political relevance. He will end up a political commentator or member in a political think tank of some sort.

@Op,
Thank you for bringing this to light. Now that we are aware of these wrongdoings we will strive collectively to correct them. Yorubas take accountability and make correction when things are not going in the direction wewant.

A grand master plan by Westerners to force relocation of labour from Iboland to West and multiply productivity, revenue and prosperity on Yorubaland.


Read about it here...

http://dailypost.ng/2015/03/13/there-is-a-grand-plan-to-cripple-south-east-economy-njiko-igbo-forum/

We thought it's just the ordinary Igbo trader on the street that lacks political stamina, reading what Njiko Igbo is saying here one wonders if Igbo will ever rule Nigeria in another 50yrs.

Njiko Igbo is the core think tank, they are supreme to Ohanaeze Ndigbo, and to hear such an infantile rant come from them is shocking. They are almost saying PDP is owned by South Easterners now and Ibo wil be the one steering the future of PDP.

Anytime Ibo ascend a political mantle the structure crumbles. PDP is at its current state because of Ibo's mismanagement of GEJs administration. Taking ownership of PDP means death to the party.

A pan Igbo group, the Njiko Igbo Forum, on Tuesday called on the national publicity secretary of the Peoples Democratic Party, PDP, Mr. Olisa Metuh to resign from office with immediate effect.

The Forum also asked the national chairman of the PDP, Adamu Mu’azu to throw in the towel, having failed to deliver the party even in his home state of Bauchi.

President of the group, Rev. Okechukwu Obiora, who addressed a press briefing in Enugu said Metuh’s actions in recent times had become a source of embarrassment to Ndigbo.

become a source of embarrassment to Ndigbo.


While describing the PDP spokesman as ‘political coward,’ he expressed surprise that he was already extending invitation to political associations even while the PDP was still in power.

Obiora said, “Olisa Metuh should honourably resign forthwith and come home; he lacks the idea needed to run that office; we can’t understand how the spokesman of the party in power should be weeping like a child even before the APC takes over.

“It is so embarrassing that Metuh has already declared the PDP dead to the extent of inviting political associations and individuals to come and help him out; so, he should return home and stop disgracing Ndigbo”.


He equally slammed various Igbo groups, including a factional Ohanaeze Ndigbo and the Anambra State Governor, Willie Obiano, for “hastily paying a congratulatory visit to President-Elect, Muhammadu Buhari”.


Obiora stressed that “we see it as huge dissapointment the way they are visiting Buhari in droves, with all the red cap chiefs; we are saying that the way they are running to Buhari is so petty, they are all looking for political appointments”.

While maintaining that the people of the South-East had no regret over their voting pattern in the presidential election, Obiora urged the politicians in the zone to avoid the temptation of jumping sheep to the All Progressives Congress, APC.

He urged them to remain steadfast in the PDP and re-strategize ahead of the 2019 general elections.

“We have nothing really against the person of Muhammadu Buhari; but we were not happy that he picked somebody from the South-West as his running mate; remember that a Westerner, in the person of Olusegun Obasanjo, served for two tenure of eight years; then President Jonathan from the South-South has been there for six years.

“Surprisingly, few years later, Buhari again picked Osinbajo from South-West as his running mate; so, we were wondering the place of Ndigbo in scheme of things in Nigerian politics”, he said.

The group equally called on the PDP to reciprocate the support it had received from the zone since 1999 by zoning its 2019 presidential candidate to the South-East.

“We also find it quite curious that the PDP is wooing Atiku Abubakar and Kwakwanso with presidential ticket; we consider such a slight on Ndigbo and it will not work”, he further stated.


http://dailypost.ng/2015/05/19/resign-and-come-home-igbo-group-tells-olisa-metuh/