LOL PMB, the Ogbuagu 1(Lion Killer) of Aba by the Igwe of Aba, is really working.

Blue3k:


The multiplier effect has nothing to do with transfer payments such as allocation money. Stop using terms you dont know. You embarrass yourself enough. Both terms were correct.

The multiplier effect and cascade effect have nothing to do with why south is economic engine of nigeria. Allocation doesn't have anything to do with multiplier. The money goes to state govenment as tax revenue not to business or individuals.

Explain why you are using terms you dont understand. We are talking about allocation. I left definitions I could find.

http://www.dictionary.com/browse/multiplier-effect

An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent. For example, if a corporation builds a factory, it will employ construction workers and their suppliers as well as those who work in the factory. Indirectly, the new factory will stimulate employment in laundries, restaurants, and service industries in the factory's vicinity.


https://en.m.wikipedia.org/wiki/Cascade_effect

A cascade effect is an inevitable and sometimes unforeseen chain of events due to an act affecting a system.


http://www.investopedia.com/terms/m/multipliereffect.asp#ixzz4RcbNDZNU

What is the 'Multiplier Effect'
The multiplier effect is the expansion of a country's money supply that results from banks being able to lend.

Abeg go pack one side; because you no reach my level.

You continue to represent those ppl with very limited mental agility and intellectual capacity that can only operate from a narrow one dimensional perspective against the reality of a three dimensional world.

For example if taught to recognise the image of an upright cup such person easily becomes confused and unable to recognise the same image as a cup once it is turned sideways or at any other angle other than upright.

Now go back and carefully revise all my posts and come back when you finally understand what I have been talking about.

LOL, see as dem pack dem both boys and girls for moto like sardines.

Abeg somebody call dilector Kanu; make e come see how dem panel beat one of im blodas for Cameloon; make e kuku take dis case too join am go ECOWAS court for human rights abuse.

Blue3k:


As usual both your points are stupid. Now your using terms you dont understand. All the states received revenue and northern region recieving most in aggrigate. Second neither of those two things explain why those states out do the north.

The multiplier effect has to do with government spending helping economy due to expansionary economic policy if I remember my macro class.

Cascade an inevitable and sometimes unforeseen chain of events due to an act affecting a system.

Bullcrap!
You write lengthy poor grammar with no intelligence at all - you should be ashamed of yourself for lacking the concept of even the most basic of terms such as cascade/multiplier effects.
Why should I bother bother arguing with a brick wall.

Blue3k:


Lol no its not. The igr is not dependant on northern block owners. Hence why kano in top 10. Second lagos is number one because oil nope. Another failure on your part. You keep switchin points. I proved the north generates least economicly now you hide failures.

Why is Anambra on top ten in igr. Quit talking nonsense and think. North is laggard region because you're pathetic lot hates facts and reason. They need to invest in educating so you children don't grow up to be mouth breathers like yourself.

I guess you have never heard of cascade or multiplier effect - go figure.

Blue3k:


Then federal government dolls out money to useless northern son right. You explanation still shows it is parasites system. The federal government tax majority then shares it with all the states in break down formula. The states that produce get biggest allocation just like my example. The other states that nothing to do with tax generation get money like welfare queen's.

My diamond example showed reality same because Nigeria government has exclusive dominan overy mineral resource. I assume diamonds are included.

Please stop clowning the south also boast better igr then the north aswell. The south has better GDP number's, per capita, less poverty, better igr to allocation ratio. The south is more productive. Northern states produce least and receive money like useless children then talk about their more successful brother bringing money to house.



Why mention Buhari if he has nothing to do with this.

Btw it's 38 mw not kw. It's seem like good start. I don't think it will power wholeveling state like article states but we'll see.

Opunu! everything you talked about: IGR, GDP etc are all related to the oil revenue being locally generated by northern oil bloc owners while you greedy, lazy and parasitic lot do fvck all.

toshmann:


U think he gives a damn about igbo culture? These useless old sycophants, whose only goal is to protect their necrotic financial stomach have come here to disgrace their race and posterity as they are wont to do.

Boring, spineless windbags

Don't really know if he does but what really matters is that he was given title by Igbo elders out of love and in the spirit of One Nigeria.

Blue3k:


The northern business men do ans keep profit. Then tax revenue is shared to state government who didn't have involement in projects. Your arguements is essentially if person from northern states generate money in south. The federal government should take majority of tax revenue and share it with states have nothing to do with process.

Your arguements is dumb. Try an use reason. Person from Abia start diamond mine in Borno. That means in your head the federal government should take majority of tax revenue and share it with OYO, Abia, and rest of states. SE just deserves bigger chuck. That's a dumb concept.

That's why fiscal federalism better model. It stop paradites from looking for tax revenue generated outside state. The statte, local gov and, lfederal government take their cut. The rest of states figure out way to become productive.

It is obvious you do not understand how the revenue you love to take credit for is generated.
The Nigerian govt leases out oil blocs to companies who in turn produce the crude oil and pay the FG royalties (taxes) for this oil, which is goes into the federation account that is subsequently shared out between the states using an agreed formula backed by law.
The FG merely sits there like a landlord collecting rent that it shares within its family members.
Northerners who own some of these oil well are part of those generating this wealth; while southerners like you contribute nothing but sit under the mango tree sipping ogogoro and calling others lazy and parasites - pls tell me how are you guys responsible for this generated revenue?

Chai ! chai!
LOL, if this happens I can forsee many Igbos killing themselves than committing suicide

mmsen:


What 'waves'?

They still have the highest poverty and illiteracy rates in the country.

If this makes the north more productive, then that is wonderful but from what I can see they have simply imported technology and imported the manpower to run a power plant - how has that assisted the north in dealing with its educational deficit or its unemployment issue?

And beg to ask what technology have you created yourselves (not imported) in your enclave that made you more productive?

Blue3k:


The government grants them the blocks to private businessmen. The profits being kept by them isn't issue. Second the economic tax revenue is generates exclusively in South hence why it goes to south as their gdp. The tax money is then given to economicly laggard northrrn states that don't produce or contribute to federal government. That's why your states are called paradites.

Chai! chai!
I no know say na shop boy I dey argue wit - see your level.
Dem tell you say na northerners dey generate de revenue and you dey talk rubbish.
What a waste of my time.

omohayek:


Except I'm far from "hanging myself", and am very much alive and well. If you think the vacuous statements made by that individual constitute some sort of counter-argument against what I've written, I must say I deeply overestimated you.

Do you really mean to say that one needn't bother with calculations of risk-adjusted ROI because this rail project is so obviously worth it for the price? Would it still be worth it for 3x the price? 5x? At what valuation would you find the project outrageous, and if so, on what basis would you say "this is where we draw the line"?

Why does it make sense to spend $1.8 billion on this rail project when that same sum could save hundreds of thousands of lives through reducing infant and child mortality, or could be used to better educate any number of young children? It's not as if Kano is doing particularly well on either metric after all. How do you make that determination of what is best spent where without looking at opportunity costs? You want us to leave such questions to the state government, but fail to say why we should trust so much in the judgement of Nigerian politicians in this matter given their long records of failure over the last 56 years.

The notion that Nigeria can afford to skip out on open procurement because it is a developing country has it exactly backwards: Nigeria is more in need of such transparent practices than developed countries, precisely because of its backwardness and long history of rampant corruption. Unlike some people, I prefer to back my arguments with facts and references: here are some worthwhile resources on the subject if you're truly interested, rather than merely looking to justify a position you hold for emotional reasons.

http://www.open-contracting.org/2016/05/20/open-contracting-good-business/
http://www.petersoninstitute.org/publications/chapters_preview/12/2iie2334.pdf
https://www.researchgate.net/profile/Frederic_Boehm/publication/4988094_Corruption_in_public_contracting_auctions_The_role_of_transparency_in_bidding_processes/links/02e7e52b88446a4196000000.pdf

Finally, it's no sort of counter-argument to say that Nigeria can't be compared to 19th century Britain and America or 20th century Japan, as each of these was much poorer then than they are now. Indeed, the whole point of the exercise is to look at success stories for ideas on how things can be done better. If you have any examples of state-financed railway construction being used to drive growth by a poor and corruption-riddled country like Nigeria, I would like to see it - the post-independence history of the Nigeria Railway Corporation certainly doesn't breed confidence in the notion.

My friend, I have already addressed the issue of ROI and opportunity cost in my last post; repeating them again is tiresome and counter productive.
Comparison of Nigeria, a 3rd world country and its basic problems against those of the 1st world and expecting the same solutions that worked for them would automatically work for us is both naive and unrealistic.
I do concede, however, that their ideals and standards are desirable goals we should work assiduously towards attaining.

Blue3k:


I didn't insult project. You're right people should be happy for their countrymen being productive. It's actually based on the fact north produces very little economicly compared to the south. The revenue is entirely generated in south but Noth receives a big chuck.

The parasite issue can be deflection but it is true either way. The issue is deeper for some nairalanders.

https://www.nairaland.com/3495061/injustice-revenue-allocation-nigeria

How can northerners be parasites when they own majority of the oil blocs and therefore directly responsible for generating the revenue southerners are foolishly taking credit for; while actually contributing nothing themselves - isn't it ironic?

Would have loved if PMB had also dressed up for the occassion and received them in his traditional Igbo attire as the Ogbuagu 1(Lion Killer) of Aba

LorDBolton:



Lmao oga ade you didn't go to any ivy league school...

Your attempt to swiftly shift the post wont work.

This was your foolish statement which I have effectively rubbished come and defend this your statement below na! You imposter.

#1- it makes no economic sense, if it did govt will NOT be involved .

#2- #2- kano state govt should focus on rails LEADING TO SOUTHERN PORTS

Those 2points are probably the most ridiculous statements ever made by anyone on NL.

Once again I state boldly you didn't attend any ivy league school, definitely didn't work on Wall Street and any job you MIGHT have had in the city of London would be more rigid frontline positions not mid-mngt.



Bruv I urge u stop 'enabling' that imposter, how can someone who claims to be an Ivy league graduate compare industrialised nations with 3rd world countries?

Suggest US solutions for 3rd world countries?

Don't mind his many grammer he's a hack! I KNOW people like him they start throwing financial n economic terms upandan to impress people but in actual fact they're dull.

Ask yourself how anyone with a financial background will make these statements

#1- it makes no economic sense, if it did govt will NOT be involved .

#2- kano state govt should focus on rails LEADING TO SOUTHERN PORTS

Bros look at both statements and tell me this guy isn't both unintelligent and ignorant?

The dude has no shame.

I also made the same observations but decided to play along - its sometimes better to allow a man enough rope to hang himself.

Blue3k:


Lol read the article. You trying to take jabs at south when your late to party. Your not making waves your following trends. The arguements of northern region being parasitic isn't untrue.

The project, awarded in November, 2008, is the first of its kind in the Northern part of the country

Have read the article very well and noted when it was awarded; however, I wonder why you should assume that this should in any way take away from the fact the project was not only completed but commissioned and therefore yet another feather to the cap of the north - better late than never.
The over flogged issue based on 'its our oyel syndrome' of calling the north/northerners parasites is just an illusion being used by southern leaders to deflect away from their colossal failure and make their gullible ppl feel better about themselves - a typical case of trying to blow out another man's candle in order to make yours shine brighter.

SycophanticGoat:


A zoo is even better organized and maintained than this jungle called Nigeria.. thus, calling Nigeria a zoo is an insult to owners and employees of Zoos across the globe.

And what may you say about the caged ANIMALS therein the disorganised zoo or jungle?

themosthigh:
The zoo is boiling

And the caged animals are wailing

LOL, Nigerian police and bribe.... abeg wey dat Zuma meme?

thesicilian:
But none of the pictures actually prove that the policemen were at the scene of the attack.

Sharp guy, you get sense.

omohayek:


Maybe such an expectation is outrageous in Nigeria, but it definitely isn't the case in the USA and the UK; contracts like this are expected to be reached under public bidding, with the necessary details of the bids available for scrutiny. That's the only way to avoid politicians from feather-bedding such contracts to enrich themselves - and even then one still occasionally has corruption scandals relating to the issuance of public contracts.

My concern here is why the government's participation should be required in these rail schemes to make them financially justifiable. There are basically two scenarios to consider.

1. The risk-adjusted expected return on investment is sufficiently high to attract private investors. In this case, why does the government need to be involved? Surely private businessmen wouldn't pass up such attractive financial opportunities if they existed. Thanks to the emergence of negative yields in most of the Western world, the recurring complaint in financial news sources like the FT, Bloomberg and Reuters is of investors desperately searching the globe for attractive places to put their money.

2. The expected ROI is too low to attract private interest. In that case, surely the government would be better off taking the same money, investing it in bonds and stocks, and using the greater return from that to fund its other programs.

The point to keep in mind with all such schemes is that there is a real opportunity cost involved in them, and it isn't sufficient to simply determine whether the investments can actually pay for themselves (though that is clearly a necessity). One must also determine that there aren't alternative investments to be made which could be more profitable - it isn't rational to put one's money into a scheme returning 6% per annum if an equally risky alternative returns 9%.

All of the things I've said here apply not just to this particular proposal, but also to the Lagos BRT, the proposed Lagos-Kano and Lagos-Calabar rail lines, etc. Too often in Nigeria the assumption is that government intervention is necessary for good things to happen, but the fact is that the rail networks of other countries weren't built out using government funds - the British and American railway booms of the 19th century were entirely private-sector driven, and that is in fact where famous names like the Vanderbilts, the Goulds and JP Morgan made most of their money. Even today most railway infrastructure in America, Britain and Japan are in the hands of fully private operators, so one has to ask what makes Nigeria's case so different.

You cannot compare USA which has evolved over several years with nascent democracies such as Nigeria still trying to develop and find its own feet.

In view of this, you will find that public projects e.g. rail, roads, hospitals, airports, etc are often initiated and driven by the govt based on the realities on the ground e.g. a) to protect the public from exploitation in the hands of greedy profit driven private operators b) to fulfil election promises for such projects and to keep the elected govts relevant and popular to the ppl.
In addition, private sector investment is also often shy of such ventures due to the lack of enabling environment for them to thrive - particularly the lack of basic infrastructure: good road & transport system, water, power e.g. fuel & constant electricity; security etc.

However, recently there have been changes to this effect where the govt have allowed the private sector full participation, a typical example is the telecommunication which almost entirely privately owned; this is in addition to active privatisation of govt assets into private hands (google BPE for more details).

That is why the govt in Nigeria has now embraced collaborative schemes with the private sector such as: PPP, public private partnership; BOT, build operate and transfer etc.

No, govt involvement in such projects is not necessarily determined by whether they are financially justifiable or not.
Quite on the contrary, unlike private sector driven projects which are often profit oriented, govt may still pursue a project and subsidise it because of its social benefit/impact on the ppl against projected high production or operational cost - which a private enterprise will be unwilling to undertake.

As for the proposed rail project in Kano, I believe the Chinese company must have done its homework and envisaged a good ROI before agreeing to such contract - though I don't know where you got the notion that this in particular has a low ROI.

As for opportunity cost, I can assure you that the project, which will connect the central business hub of the commercial city of Kano with its outer productive environs, is indeed a welcomed development and I am sure the govt must have had a good look at it - recent Kano governors have been progressively leading the way - Kano citizens are definitely not complaining.

Some of the respondents in this forum are evidently reacting negatively only out of green envy, bigotry or ignorance - we are used to them.

LOL, northern states making waves while others are busy bombing pipelines and calling them parasites to excuse their own inadequacies.

omohayek:


Could you at least try a little harder than that clown and provide a semblance of an explanation of why you think I'm wrong? If it were my governor proposing a scheme like this, I'd be wanting him to give me detailed financial justification for it - after all it, I and my children would be among the taxpayers who would have to service the debts to go with the plan.

Having already entrusted him with your mandate to represent you by voting him into office; no governor will be expected to give you the nitty gritty i.e. contract of such agreement that he may have reached with a third party on your behalf on the pages of a newspaper; but to give the general gist of such project as in this particular case with the Kano State govt.

The basic information e.g. scope i.e. proposed routes of the rail network; the cost and the funders i.e. Govt and the Chinese firm at a ratio of 15% to 85% where the govt's counter part funding will be $1.8bn - so what else do you need; besides there is nothing stopping any stakeholder from writing and requesting for more details from the govt.

Barrywilly:
The armed robbers are: "Tochukwu Akorisa, Ndubuise Egwuatuonwu, Ifeanyi Eze and Aboi Rufus". The developers of Lagos. No further comment is needed. We can all see how they are developing Lagos.

Oboy, de tin done tire pesin.

Disgracing Nigeria as usual.

BERNIMOORE:


The supreme Court has granted the Appeal court 'go ahead' to determine 'final pronouncement' on the factional leadership.

''Justice Walter Onnoghen, struck out an interlocutory appeal by the Sheriff faction and directed parties to return to the Court of Appeal for a final pronouncement on the substantive issue of which of the factional leaderships of the party could instruct lawyers to act for the PDP.

And on the wednesday 23rd November the Next Day(last week), having Cleared The Appeal court by the Apex court to determine 'final pronouncement' on the factional leaderships of the party

https://www.thecable.ng/just-sheriffs-faction-illegal-appeal-court-rules
''The court of appeal upheld the caretaker committee of the Peoples Democratic Party (PDP) under the leadership of Ahmed Makarfi, describing the faction led by Ali Modu Sheriff as illegal.

So it is left for sheriff to still head to the supreme court Again to Appeal the 'final judgement'
Sheriiff had earlier lost 'injuction he filed at the supreme court to stop Appeal Court' from determining the 'leadership crisis'

it will be recalled that Appart from the guber candidate issue, The Appeal court determined 2 other cases at the same Appeal Court
below;

1. Jegede vs Poroye (Jimoh Ibrahim) challenging his substitution by INEC based on Abang October Ruling.

2. Markafi and Ben Obi vs Poroye and Others ( Challenging Abang judgement of June 29) which ruled that Poroye should be recognized as the Pdp state chairman. As well as determination of the authentic national party chairman

3. PDP vs Poroye (challenging Poroye for using the same Counsel to represent PDP case he take to court before abang. Poroye appoint counsel for appellant, the same Poroye appoint Counsel as defendant in the case he takes before Justice Abang).

1, 2 and 3 are all determined, but mischievious people hammer more on 1 above because they knew many people dont bother to read and lazy.

Exactly my point, he still has the option of being heard by the Supreme Court - no matter how improbable the outcome may look.

BERNIMOORE:



https://www.thecable.ng/just-sheriffs-faction-illegal-appeal-court-rules

Tory never finish; until dem reach Supreme Court before anyone can talk say de matter is finally settled.

kasheemawo:
That is our dilector strategy to remain inside zoo prison

LOL, watery beans for Kuje never finish.

omohayek:


Why must it be any of those things which drives criticism of this project? $1.8 billion would be an inflated sum for rail services no matter what part of the country is under discussion, and if the project can be justified on a purely commercial basis, why does the Kano state government need to be involved?

Guy, abeg receive sense.

SIRmanjar:


Who b southern folk wey dey full of envy, kinko kiniko ad abject ignorance? NAMA

You mean those folks wey dem dey conceive before dem mama and papa marry i.e. BASTARDS - shey you know.

Tayo64:
Hmm! Many Nigerians are really mad and disappointed at President Buhari…I just came across where this photo of President Buhari and wife, Aisha, celebrating their granddaughter, Zee’s 4th birthday and saw how angry Nigerian youths are heaping insults on President Buhari and his family..see some below;

Source: http://www.chichinwaafrica.com/way-many-nigerians-insult-president-buhari-social-media-now-alarming/

@OP:
Wrong, not all Nigerians; if you should take a closer look at those insulting him, you will observe that majority come from a particular part of the country, rather than Nigerians in general; they are characterised by some or all of the following features:
Flatinoid shaped heads, criminally inclined and morally corrupt; egocentrics/megalomaniacs; evil and wicked; siege victim mentality with tendency to blame everyone and anyone but themselves for their own shortcomings, capacity to bear grudges and hate irrationally; cheating and lying comes naturally to them; a lot of their ladies are hairy, muscular with yam legs and prone to prostitution.

They dislike and insult the president because of their irrational hate for his region, tribe and religion; but most importantly for winning and defeating their bloda GEJ in the last general election.
They are also very vocal and consequently spam the internet with hateful lies and propaganda against the president.