₦airaland Forum

They should also disown cramjones.

Keneking:
Health challenge whenever it involves ICPC and EFCC.

Onyeka should have just faced her music and Nollywood and not this form of shame

See what Jonathan and Patience have caused the "Stallion".

Jonathan sef

The woman has always been like that. She just did not have an opportunity to hammer before now.
Same woman that sang for Abacha 1 million man March.

Fashanu and his delusion of grandeur.
Dude had a non-existent opinion of himself.

Sometimes nothing inspires like poverty.
MI stopped having ideas the moment he made it big.
Dude has been infected by ice prince and just sings pangolo these days.
How can you from dripping a classic like talk about it to the mediocre chairman album. Even his illegal music mix tapes dey scarce like gold
His stage performances are getting more lethargic by the day.
Typical Nigerian artist.

Even me wey be man, shame dey catch me for this kind thing.

Trekking is now called jogging.
Hmmm the season of clowns is upon us.

muhyeenisce:
Wetin be the lesson wey we go derive now

Say e good to marry yellow olori, as shown by our Oba Elegushi and the reverred Alaffin of Oyo.

They won't name the owner but they are naming the courier.
Hypocritical barbarians!

July 30, 2015 | Filed under: Exclusive,main story | Author: PATRICK ATUANYA


Nigeria’s oil rich Delta State is deep in debt, as N773 billion in outstanding liabilities from the previous administration, along with monthly expenditure which far outstrips earnings, leave the state with prospects of perpetual deficits.

The 40 percent slump in oil prices has reduced the state’s monthly revenue from the Federation Account to an average of N10 billion a month.

When states and local governments irrevocable bond servicing expenses are stripped out, net receipts from the Federal Accounts Allocation Committee (FAAC) and Internally Generated Revenue (IGR) fall to an average of N7.2 billion per month, according to documents seen by BusinessDay.

Delta state’s total expenditure of N16.3 billion a month (comprising of personnel costs, statutory transfers and other recurrent expenditure) means the state currently runs a monthly deficit of N9.1 billion.

This is compounded by N773 billion in outstanding liabilities owed to contractors, bond creditors and banks.

The state’s precarious fiscal position is making it difficult for the newly elected governor, Ifeanyi Okowa to fulfil campaign promises or govern effectively, according to sources.

States like Delta should boost taxes to cushion the dwindling allocation from the centre, enact more market friendly policies and be run more like economic units as opposed to political appendages of the Federal Government, said analysts who spoke with BusinessDay.

“This calls for hard choices and politically unpopular decisions. These must be preceded by effective and urgent sensitisation of the citizenry,” members of the new Governors Finance Sub transition Committee, said in its report. Documents seen by BusinessDay show that Ministry of Finance Handover Notes indicate that Delta state earned total revenue of N1.75 trillion during the timeline of the last administration (2007 – 2014), while total expenditure was N1.96trillion, leaving a deficit of about N210bn.

On the average, the level of performance of recurrent expenditure was 93 percent while Capital Expenditure was 56 percent in the time period.

Furthermore, Internally Generated Revenue (IGR) in the period was N257.65billion or about 15 percent of total revenue collected.

Nigerian states governors are powerful by African standards, with some controlling annual budgets bigger than most Sub Sahara African countries’ budgets.


Most, like Delta, borrowed heavily during the boom years to finance often bogus infrastructure projects and on political patronage. Current liabilities include N534 billion in contractor debts, N4.7 billion in external debts, pension liabilities of N39 billion, a revolving overdraft facility of N19 billion and a 7-year bond of N50 billion raised in 2011. Out of this bond value, the total actual proceed received by the state was N46.60billion, meaning total fees paid to regulatory agencies and parties to the bond was N3.40billion, representing 6.8 percent of total bond value as cost of issue.

So far, N41.44bn is reported to have been spent from the bond proceeds on the planned projects, according to documents seen by BusinessDay.

There is supposed to be a balance of N5.16 billion yet to be drawn from the bond proceeds, however the report from the Hand-over Committee revealed that only a little over N3 billion is left in the account where the bond proceed is warehoused.

The whereabouts of the difference has yet to be explained by members of the former administration. Delta state, which was part of a bailout package for states by the FG, needs a concrete plan on structural reforms, according to analysts.

“All the problems can be fixed fairly easily, but the irony is that even if one wished to help them, it would be very difficult – they don’t actually understand “governance,” said the analyst speaking off the record.

hbpeze:
Bro what did they say made her win.was there any competition she entered

expand the pic of the flyer in the original post.
It is a competition

Truckpusher:
Abusive fathers don't show any form of doting or love to their kids - they start with both physical and sexual abuse.
Though I got your drift.

i actually enjoyed the exchanges between you and Bengonia.

Donpizzle:
correlation?? Mtn will not dash a customer #15m for doing nothin while most of deir workers wear their socks off and earn less than#100k. Is it cleared!!!! Mumu

Your mumu small sha.
Did you read the flyer?
The promo is geared at gaining traction for a particular service plan and obviously they would have made more than the 15 million from the new subscribers and increased usage.
You are too daft to understand this.
What the heck has workers salary got to do with it?
I guess according to your dumb argument lotto companies in Europe pay their staff millions as salary.

millionboi:
she or her husband is a staff of mtn......mtn nigeria dnt dash money,if u bliv dis,u cn bliv anytin

This is how you sound confident when mouthing ignorant comments.
In case you don't know Mtn assurance dept peruse winner call records to ensure that not only are they not staff nor staff spouse but that they do not have unexplained calls to staff numbers.

DuchessLily:
Eh eehh... Pictures of u with d winners u have met and what they won or idonbilivit

Nah
I don't post pics on social media and posting this specific one will expose my anonymity.

Donpizzle:
God bless you. Pls how much do their workers earn.
#15m is enough to pay most of their workers for a year.

The daftness of your comment is worrying.
It si like asking how much do the workers of lotto operators in Europe earn. Do you actually think that 15 million naira is the wage bill of MTN?
What is the correlation?

DuchessLily:
Wow! Hope this is real

Why does dis kinda awof not happen to people I Knw

I used to say so until I met winners of MTN promos.

Antiparticle:
While I'm somewhat indifferent about the tactics that Emefiele and the banking industry employ to protect the Naira, I am disappointed that he (Emefiele) spoke like an uninformed illiterate on a topic he should know more about.

It is absolutely not true that you will be arrested if you try to pay Pound Sterling or Euro into a US bank account. I really can't believe that this guy is the CBN governor! How clueless.

Usually if you try to pay Euro or Pound Sterling into a US bank account, the bank will either refuse it or convert it to US dollars at a rate of their choosing (and with your consent). I have done this before!

Wonders shall never end. Emefiele needs to read or talk to his counterparts abroad so he can learn. I weep for my country.


"You cannot go to the United States where the dollar is spent and try to pay pound sterling into an account, because you will be arrested. Neither can you go into the United States and carry Euros into that economy and tell them to pay it into an account for you; you will be arrested."

I actually cringed at his comments. I found then very pedestrian and extremely simplistic.

Seems Ambode is underutilized.
I hope he has a sense of the huge responsibility waiting for him.
Hanging around talentless music stars should not even be a way of unwinding.

erico2k2:
In a sane economy, there should be no other bank account to buy goods abroad, all there is is my bank transfer the money abroad in local currency converted at teh market rate, charge me,I fill and sign transfer form and deal is done.No need to physically hold the Dollar or any other currency.If I have 15M naira in my bank, I should be able to pay for goods in china with my visa Debit card and charged accordingly.This is the right way to go, we do not need no physical dollar account.

I agree with you.
My understanding of economics and banking is limited but i wonder why this is not the case.

doncaster:
How did he help you deposit when it was banned. Man no Man off course and that is part of the corruption and you support it.

The forex teller had a pending transaction of the mallam that was still in progress by the time the bank sent out a directive for all new forex deposits to be stopped. So mine was included in the mallam's pending transactions.
I had several other deposits to be done but they were refused.
So it is not as clear cut as you make it.

mployer:
You don't know what you are saying.

Dollar transfer is only allowed electronically. How do you intend to fund your domiciliary account electronically when you are in naija and has no means of earning dollar from overseas?

btw, what do you mean by illegal domiciliary account?

Why should you fund a domiciliary account physically?
Is dollar the Nigerian currency?
seems we have gotten so used to doing the wrong thing, we think it is normal.

porka:
[size=13pt]
You are giving a false hope. It is not panic buying, it's called demand and supply.

It is because businesses are folding up as you can glimpse from this report by Punch.

If they are collapsing, there would not be any need to import raw materials and equipment hence reduction in the foreign exchange demand. With 50% cut in production, it means their forex needs has been cut down significantly and value of the naira might appreciate.

But it is already affecting the GDP growth rate and will exacerbate the unemployment situation. Big companies (with financial muscles) will lay-off some staff (if temporarily) while SMEs will fold up till probably when things improve. It could be short-term or medium-term or permanent for some depending on how the dullard in Abuja respond. [/size]

so in your mind, he 50% was cut in a week, hence the fall from 242 to 218 within 2 days?
production has been down for months and years, yet the exchange rate kept rising.

kannymoore:
The previous guy said the truth.. cos as @ yesterday afternoon at Yaba, a mallam offered to sell Dollars for N208 to $1.

Ask JefferyJames if i'm lying!

i bought 225 on friday.
i had an offer of 218 from another seller but the 225 guy was able to help me deposit the dollars in my dom account (which CBN has banned since friday morning)

Algebra12:
We are on a long thing with our sole administrator still on honeymoon.

The looming disaster will be monumental.

If Jonathan's ineptitude did not lead to a monumental disaster, Buhari's honeymoon will be less.

ronald4lif:
Church and religion are the most massive fraud that has ever befell mankind. For a better and productive society they must be expunged.

What is stopping you from expunging it?

RaDaZaBaNa:
How Effective is Mountain prayers ?

pointless.

Jorussia:
If you are not ready to endure hard times in marriage, you better don't get marry.

I hear you but marriage is not synonymous with hard time.

Jorussia:
That's a true situation of things here,my brother.prinwa has no reason to complain,because, there are many ladies whose husbands are oversea and they fasting and praying day and night to see their husbands once in a year,with no breakthrough at all.

Are you kidding me?
She has no reason to complain?
Marriage is not bondage o
No woman should be put through such hell consciously.

otimize:
I have taken time to read several comments that you have posted as a reply to posts on this thread. Forgive me but i dont trust your desires. Best advice thou, tell him you feel your marriage to him is a big mistake, show him this thread on nairaland, or occupy yourself with the things of God, cus u look like someone with so much fleshy thoughts.

These are the sort of sanctimonious comments that grind my tits.
A woman who has been sexuality active in the past is suddenly guilty of having fleshly thoughts when she complains of loneliness and sexual deprivation.
Is that the height of your empathy?
What is fleshly about desiring the company and warmth of your husband?
Occupying yourself with God himself (not just the things of God) is no substitute for conjugal satisfaction. No need being so spiritually minded that you are earthly useless. Her husband needs to prioritize the health of his marriage over whatever benefit he derives from being abroad.

AdaEkube:
From her comments she said he has tried to get their papers in d past bt to no avail.r u saying she should leave her marriage or start sleeping around or wat??.

I will never be the one to advise her to leave and I cannot demean her union and vow by asking her to sleep around. However it seems you missed this part of her Comment;
recently I asked him about our papers and he said he doesn't want us to come and live there permanently , but we can visit and go. I want to be together with my husband. I am really getting tired of the whole situation.