Patrioticooduan:

Forget Somalia. Their problem is sponsored by the middle east. Tell me about Botswana and Equatorial Guinea.

There is nothing homogeneous about Botswana or Equatorial Guinea. They both have more than 20 languages spoken internally.

You need to read up about Equatorial Guinea and see how a country lost over 25% of it's population because of one man's quest for power. Real definition of a shit hole.

Patrioticooduan:
Proudly Yoruba. If only we had our own country, we would have built our own electricity, good roads, fast speed underground trains, fast better internet, better health care system, better education system, better security, and better housing system. We would even keep records of population, citizens' ages, birth and mortality rates. We will build and travel to other African countries( Biafra, Ivory coast, Ghana) with fast trains just like European countries do.
Nothing can hinder a country's progress when they share same culture, language and vision.
SMH

Somalia is the most homogeneous country in Africa. What did you say about same culture and language again....

One person, out of 7 billion people in this world, wrote something on Twitter, without any evidence, and y'all are jumping to conclusions and abusing your country. Kontinue!

The only ex-Nigerian leader that does not live in his home town. People visit Shagari in Sokoto, IBB & Abdusalam in Minna, OBJ in Abeokuta...but GEJ na Abuja man....shows you there's a big problem with this fellow.

Eastfield1:
what happened to his Trump invitation?
who should we believe between the two?

This is a parody account. Lai doesn't have a twitter account.

Goddygee:
So it is now a crime for a group to demand the whereabouts of their president abi?

He is in London receiving treatment. Next question?

nextprince:

I actually mixed up mw for thousands of megawatts as available on the national grid. I have modified my initial post.
However, power is measured in watts or megawatts not volts or kv as contained in your comment.

He said KVA and he is right. Some countries use KVA...some use KW. Difference between both is the power factor, i.e. KVA x Power Factor = KW.

Hope you have learnt some new things today.

lovelygurl:



Obama is MIXED. Half caste. Her mum is white and her dad is mixed. She's 25% black.

The show is to represent black beauty standards that are not represented in the media? So of course they are angry if even that is represented by a person most young black girls can't look up to!

So 50% is "mixed" but 75% is not "mixed:...brosss.

Anyway, In the US, a "single drop" of black blood makes you a black person.

The MATRIX is real

DriveByKiller:


Oil companies have been milking oil communities for years and exploiting their illiteracy for decades. The Federal Government has been the backbone of this exploitation.

People are beginning to wise up to injustice being perpetrated for years.

In any same environment, oil producing communities should the mega cities especially when they are costal cities like Port Harcourt, Bayelsa , Warri ,Escravos, Uyo etc and not Lagos, Kaduna and co.

What you wrote up there is bias and one-sided

Don't blame the oil companies. Blame the government of which indicates of the Niger Delta are also members. I've summarized a typical economic analysis for a joint venture asset producing 50000 barrels per day crude.

For a total revenue of $75 million at an oil price of $50, the Federal Government gets about $69 million while the oil company gets about $3 million. How is that fleecing. The real problem is Nigeria and Nigerians and not the iocs.

People went to illegally build on Gen. T. Y. Danjuma's land. They got quit notice over six months ago. They should take heart.

jaybillionaire:
OK now that they currently don't av it, av they not been fulfilling their obligations, and does their job in the national assembly still cycle them tru those countries u mentioned Due to their avarice they r bound to use it as an ungodly conduit in their looting which everyone knows. Not until they earn the trust of Nigerians, they should maintain the status quo.

My brother they all have foreign accounts. And yes their jobs in the National Assembly still cycle them through those countries. All the plenty workshops, symposia and delegate meetings they always attend requires paying the estacodes they receive into an account they can easily access when they travel. The law is archaic and unenforceable. What we need to focus on is strengthening the financial monitoring institutions and regulations.

jinxet2000:
My friend gerout of here! I believe you are one of those who jumped from primary school to the govt house. This is illiterate analysis. How may American, British, Asian, Ghanaian, camorounian govt official has account in Nigeria? Abi first bank, Gtbank and Co don't want such customers. My friend gerout of here. Keeping putting your no ey away and let others keep spending it for you. Later in life, you will come back to Nigeria to meet the mess the corrupt politicians have put the country.

SMH. For someone who claims to have a "non-illiterate" analysis you need to learn how to understand sentences. My comment included "I've never worked in government" but I guess you were too foggy to see that. Anyway, back to your fluffy comment, yes there are lots of American, British, Asian, Ghanaian, camorounian expatriates who have account in Nigeria. That's obviously where their salaries are paid. At the end of their assignment, they can choose to keep the accounts (for those that have other dealings in Nigeria) or close it (for those that don't think they need it again). If they get into their country's government they can do whatever they want to do with it.
Furthermore, Nigeria is not a centre of commerce for some countries. But for Ghanaians, Cameroonian, Chadians and Nigeriens, it is. And yes their government officials have accounts here.

jaybillionaire:
And with the crop of law makers we av entrenched in corruption and live their lives in it. It's still well for u in ur ivory tusk of tour to support it. Are u the son of a senator

Well, you can hide from reality for all I care. The same people that want people with international exposure and pedigree to run institutions in this country are crying about foreign accounts. Very funny. You think Okonjo and Obi in their days at World Bank didn't have foreign accounts? How were the getting their salaries. You think Amina Mohammed in her days as UN under sec didn't have a foreign bad account? You think all those Goldman sachs and Wellsfargo people running your finance and planning ministries don't have foreign bank account? Or even the ex oil company people now working in your National Assembly don't have foreign bank accounts?. There's no Nigerian today working in an international oil company here in Nigeria that doesn't have some sort of foreign bank account. Their jobs one way or the other cycles them through the US , UK, Middle East or Far East. Are you saying they should close their accounts because of a short term public service job? Guy smell the coffee abeg. This is not 1960s.

Guys. Reality is that the senator is right. I have never worked in government but I have 3 foreign bank accounts due to schooling and working abroad. Anyone with an international degree definitely has a foreign bank account. Those that have spent some months/years working abroad, definitely have foreign accounts. So it doesn't make sense to me to close accounts I've had for over 10 years just because I have one government appointment. The law is outdated. It's a relic of the 1960s when it was difficult to trace fund movements.

I wonder what is illegal about PRIVATISING public companies. We've been doing it from time immemorial and we will continue doing it.

tansho:

Saying it the way it is. Gbam!

When your "HERO" was hiding in Aso Rock without balls....real men, led by Wole Soyinka, were under the sun demonstrating in front of the army for him to be made Acting President...

naijaguy77:


QIT is a terminal, not an oil field. Terminals are oil storage facilities, not oil producing facilities.

Eket and Esit Eket produce zero oil, they do not even have coast lines and do not border the ocean. As you know, almost all Akwa ibom oil is produced offshore and the only places in Akwa Ibom that have coast line are Eastern Obolo LGA, Ibeno LGA, Mbo LGA (Oro), Udung Uko LGA (oro), and Oron LGA (Oro). So 3 of the 5 local govt areas in Akwa Ibom that have coast line are Oro nation LGAs.

Hope these maps helps. ALL ExxonMobil fields are off IBENO and Eastern Obolo.

Moreover there are no known oil fields off the coast of Oro land.

Miss Nigeria looking like a Palm Tree

Our educational system really sucks. 4 pages of comments from people (except kevoh) who either didn't read the full text or failed to understand the context of the archeological find . The level of comments is a direct reflection of the mediocrity affecting the nation.

I currently live in Malaysia. Guys the reputation of Nigerians is ZERO over here. I agree that an accident caused the fight and the Malay Indian guys/police over reacted. But I can assure you it's down to pent-up anger against Nigerians. This "Get Rich Or Die Trying" attitudes of Nigerians is really messing those of us who have legitimate business not just in Malaysia but everywhere in the world.
Like the owner of a favourite Nigerian restaurant in Cheras, outskirts of Kuala Lumpur, once said, "there are a minimum of 20 issues involving Nigerians everyday in the neighbourhood". It's just so crazy. Now they've even started forming Eiye, Black Acts and Mafia (seriously!!!)
I work for a multi-national oil firm and my first day in the office, once the local found out I was Nigerian, their question was, "when are you leaving Malaysia?". When I answered that I actually live in the USA and once I'm done I will be heading back to Texas, their question changed to "How long are you staying in Malaysia?".
The Malaysians are generally laid back people but so many of our guys just love taking advantage of them. And of course, our embassy, like every other Nigerian embassy abroad, is totally messed up and a reflection of the broken down civil service in Nigeria.
For those of you that don't know, Malaysia is the safest country that I've lived in(and I've lived in a lot of countries). Anyway, I live in KLCC, not too far from the former Prime Minister...what do I know.

For those that complain that only 3 people were interviewed in Lagos by CNN, the fact is this.
1. Interview 3 people in London about power, the answer will be positive
2. Interview 3 people in Kuala Lumpur about power, the answer will be positive
3. Interview 3 people in Houston about power, the answer will be positive
4. Interview 3 people in Accra about power, the answer will be positive
5. Interview 3 people in Cape Town about power, the answer will be positive
These are cities I've lived in and power is awesome.

Interviewing 3 people for a 1 minute interview on prime time TV is "a lot" of people. Moreover, they can only interview in cities whose name rings a bell with the audience.
Forget that Ikpoba Hill/Benin nonsense. That place no dey map of mentionable cities.

That being said, the main culprit(s) for our lack of power is not GEJ but Babangida, Abacha, Abdulsalam and 2nd Version Obasanjo who failed to invest in the power sector even with the massive sums of money allocated to the sector.

GEJ's crime is his lack of public speaking skills to properly frame the issues in a context that would have been advantageous to him.

It's the same phenomenon everywhere in the world. The only reason why it's a bit reduced in the developed countries is due to sound legal framework...which is what we lack in 9ja...if you like draw up a million MOUs. The courts are ineffective and the cumulative sum you've paid your lawyer, due to incessant adjournments, will end up being more than the money you planned to recover.
The best option in our clime is "PAY BEFORE SERVICE"

A little education on the 60:40 Joint Venture oil agreement between the Govt(NNPC) and the International Oil Companies(IOC)

Assumptions
1. IOCs produce 95% of crude in Nigeria = 2,160,000 barrels per day (Indigenous companies produce about 5%)
2. No major project cost recovery
3. Operating cost is $8 per Barrel
4. All crude production earnings utilize the JV area economics
n/b: Crude from offshore deepwater have a different agreement called PSC (Production Sharing contract)

                                                          OIL ANALYSIS
                                       2011 METRICS                             REMARKS
                                         UNITS      EARNINGS      PAYMENTS
PRICE                                $/BARREL        115                              JAN 2012 PRICE
REVENUE                                $ MILLION 248,400,000
REVENUE (IOC SHARE)         $ MILLION 99,360,000              40% OF TOTAL
18.5% ROYALTY                   $ MILLION              18,381,600
OPEX AND EXCALATION       $ MILLION              17,280,000        UNIT OPEX, @ $8/BARREL
OTHER EXPENSES                $ MILLION                             0       ASSUMPTION NO. 2
ASSESSABLE PROFIT                $ MILLION 63,698,400
2% EDUCATION TAX                $ MILLION                1,273,968
3% NDDC LEVY                        $ MILLION                1,910,952
ADJUSTED EDUCATION TAX $ MILLION                1,592,460        DEPENDS ON MOU TERMS FOR THAT YEAR INCLUDING OIL PRICE
NDDC LEVY EXCEEDING EDTAX $ MILLION                             0
CHARGEABLE PROFIT           $ MILLION 58,921,020
85% UNADJUSTED PPT        $ MILLION               50,082,867        PETROLEUM PROFIT TAX
PRESENT VALUE PROFIT        $ MILLION 8,838,153                        PROFIT EARNED BY IOCS

GOVT TAKE (60% OF REVENUE + ROYALTY + TAXES) = $222,281,847

What this means is that for every $17,280,000 per day that the IOCs spend (which of course they recover) they earn a profit of $8,838,153 per day. A good return on investment which is of course why they are in Nigeria in the first place! But to claim they earn 43% of the total revenue is quite misleading.!!!
The bigger picture on the other hand is the whooping amount of money that is paid to the government as royalty and taxes on a daily basis ($222,281,847). I'm too scared to convert this to Naira as I cannot see the impact this colossal earnings is having on majority of  Nigerians except perhaps the Politicians and their thieving cronies.

Let's look at some facts about this Toll road.
1. Toll roads are built primarily to reduce traffic (95% of the time). The other 5% of the time, they serve as a source of “indirect” tax to raise revenue for governments.
2. In other to reduce traffic, they are “newly” built and serve as “alternate” routes to existing roads. (Toll roads are ALWAYS “Alternate” routes).
3. Lekki Exp Way was an existing road with functional dual lanes. It was the only access road to Lekki axis.
4. As at 2006 before the LCC started road construction, it used to take a maximum of 1 hour to move from Sand fill to Ajah (on a very bad day). Forget all these 3 hour crap people bandy around. It’s a freaking lie. I worked in that hood.
5. The traffic logjam and delay started from 2007 when LCC started construction.
6. What exactly did LLC do? They added an extra lane on an existing road and “tolled” it.
7. People are now being told to take “alternate” routes which were nonexistent prior to LCC “Occupying” the only access road. These roads came about because people had to look for how to avoid the traffic logjam thereby creating routes such as the beach road and those “kurukere” roads through Jakande.
8. The entire logic of LCC tolling an existing road, which was the only access road, is totally flawed.
9. This is just a calculated attempt by some cabal in Lagos to enrich themselves by perpetuating their monopolistic and money grabbing tendency to the detriment of the entire populace.

How many years jail term will Bank-Ole get "if" convicted of having stolen #10 billion, 2 years abi? What hypocrisy, mtweee

A question was asked earlier "If Jesus was without sin, why was he baptized?" OP, still waiting for your answer.

all4naija:

They are always the hypocrites claiming nonsense here!

You have no idea, SMH, the issue is not whether I am a Christian or Not (which of course I am), the issue is do you prefer to take a loan from a bank at exorbitant interest rates (which the banks hope that you default on), do u want your hard earn deposits to be used in the financing of vices (alcohol, drugs, porn)?
The practice of charging cut throat interest rates in other to finance private fantasies like private jets for Akingbola or financing vices which destroys the very fabric of good christian living is utterly ridiculous.

Non Interest Banking is not only an Islamic phenomenon. Charging of interest on loans is also condemned in the bible. It is called Usury and below are some references.

Scripture References to Usury, Interest

(All references are from the New King James Bible)

" If you lend money to any of My people who are poor among you, you shall not be like a moneylender to him; you shall not charge him interest. (Exodus 22:25-27)
"You shall not charge interest to your brother -- interest on money or food or anything that is lent out at interest. (Deuteronomy 23:19,20)
"I also, with my brethren and my servants, am lending them money and grain. Please, let us stop this usury! "Restore now to them, even this day, their lands, their vineyards, their olive groves, and their houses, also a hundredth of the money and the grain, the new wine and the oil, that you have charged them." (Nehemiah 5:10,11)
He who does not put out his money at usury, Nor does he take a bribe against the innocent. He who does these things shall never be moved. (Psalm 15:5)
If he has exacted usury Or taken increase -- Shall he then live? He shall not live! If he has done any of these abominations, He shall surely die; His blood shall be upon him. (Ezekiel 18:13)

So guys give the guy a break. I will rather get an interest free loan than the crazy 18 - 20% banks are currently charging coupled with their draconian requirements.

Fact One:
Cost of cash to the Nigeria financial system is high and rising, N114 billion in 2009 and projected to reach N192 billion in 2012.  Jut to put this in context, the budget provisions for the Ministries of Power, Health, Education and Works in the 2011 budget are N90 billion, N257 billion, N356billion and N182 billion respectively.

Fact Two:
About 30 per cent of the physical space in bank branches, plus same fraction of employees are deployed to cash operations.  This means that a reduction in the cost of cash should achieve significant, direct impact on the aggregate cost of operation for all banks, including the CBN.

Fact Three:
Cost of banking services is typically recovered from the customers (in the form of COT, interest and charges on borrowings). This means that indeed the cash operations costs are currently apportioned to other customers and stakeholders of the bank.

Fact Four:
In Nigeria, over 99 per cent of customer activities in a typical bank branch are cash transactions, only 10 per cent of total number of cash transactions are above N150,000 but this 10 per cent accounts for about 70 per cent of total bank branch value of cash transactions.  Consequently, 10 per cent of customers that make high volume cash transactions impose the reported huge cost of cash operations on 90 per cent other customers.  Put differently, 90 per cent of bank customers (plus other stakeholders) are currently subsidising the cost of the heavy cash transactions generated by the 10 per cent of bank cash customers!

These are incontrovertible facts and we really need to reduce the cost of cash, not only on the banks but to CBN and in extension tax payers (which I believe most of us fall into this category)

The question is how many Nigerians inside Nigeria have heard of the protests going in North Africa . Most Nigerian homes suffer constant power failure, the few minutes light will stay, they use it to watch home videos . Is that how they can organize for any meaningful protest? .


, Below the belt