₦airaland Forum

Ruga a Hausa word that means cow settlement,it has divided Nigerians discussion into two camp,For Ruga or Against Ruga,with both camp ready for war.

But from a business angle,it is a very profitable and sustainable business venture any time of the day.

As a patriotic Nigerian,Ruga can boost the unity of the country,if only every community can key into it,by creating a Ruga in their locality and managing it properly and strategically.

The Ruga can succeed and put smile on all Nigerians faces, when business people key into it.

After the launch and operation of our N500 per new made in Nigeria Car ownership program,we will go Ruga, because it is a goldmine.

The Money,Political Power of Ruga is too much to ignore by smartminds.

N500 per new made in Nigeria Car ownership program
While we are preparing to launch the program, we are also inviting the EFCC,National Automotive Design And Development Council (NADDC),Manufacturers Association of Nigeria (MAN),Innoson Vehicles,Peugeot Nigerian,Coscharis (Ford) to monitor fully our operations for the good of all Nigerians.

Funding The funding is ready forus to access any time.
https://www.nairaland.com/5384520/n500-thousand-per-new-made

Community Police Assistant nearly had the manhood of a suspect chopped off after he bit it hard during a fierce brawl at New Techiman, a suburb of Tanoso in the Bono East Region because he impregnated a 16-year-old girl, MyNewsGh.com reports.

According to the account of the police, two of the community police assistants identified as Oliver Ababio Boahen and Appiah Cyssor were sent by officials of the Domestic Violence and Victim Support Unit (DOVVSU) to arrest the suspect on Saturday.

It is gathered that a complaint had been lodged against 30-year-old Caesar Damjiat for impregnating a 16-year-old girl and refusing to take responsibility.

But the suspect on seeing the complainant and the community police assistants, got offended and put up a fierce resistance which resulted in a scuffle.

In the process, the suspect bit Cyssor on both hands and bit Oliver’s palm.

One of the wounded officers was also said to have bitten Cyssor’s manhood which left him bleeding profusely.

This led the youth in the area to attack the Community Police Assistants by pelting them with stones.

The Divisional taskforce was later called to the scene and managed to bring the situation under control. The taskforce then took the suspect together with the injured officers to the Holy Family Hospital in Techiman for treatment.

From the statement ,you see will see that our strength lies in our corporate voice,if only we can speak in one voice to promote Nigeria products, the international community will buy-in thereby boosting our foreign capital inflow,creating jobs and growing our economy.
It was Nigerians and not our politicians that made Nollywood global

Lets Share the positive information on social media of Made in Nigeria products,whether made in the West,North,East or Southern part of Nigeria.it will only profit us all

Clayson Monyela, a spokesperson to the Department of International Relations and Cooperation (DIRCO) faults the reaction of Nigeria to the rent xenophobic attack in the country
- Monyela says Nigeria is the most vocal country in reacting to the attacks despite the fact that
not a single Nigerian was killed in the incident
- The official insists that there were no Nigerian casualties during the public violence in South
Africa
Clayson Monyela, a spokesperson to the Department of International Relations and Cooperation
(DIRCO) in South Africa has accused Nigeria of overreacting to the recent xenophobic attack in the
country.
The Cable on Sunday, September 15, stated that Monyela was reported by a South African platform,
City Press, to have said that Nigeria was the most vocal in reacting to the attacks despite the fact that
not a single Nigerian was killed in the incident
“A challenge was thrown back at them to play their part in addressing the big challenge of
international migration.
He called on countries to create a conducive environment that will not force citizens to leave their
countries in droves and only react when there is a problem in the receiving country.
The official said xenophobia was a general problem not only South Africa but in the UK, US and other
countries where foreign nationals reside.
Monyela stated that there was engagements with Nigerian envoy sent by President Buhari to South
Africa with a view to ensuring that diplomatic ties between both countries remain intact.
In another report, President Cyril Ramaphosa of South Africa has dispatched three special envoys
to seven African countries to deliver messages of pan-African unity and solidarity following
xenophobic attacks in South Africa, the presidency said on Sunday, September 15.
The special envoys will deliver a message from Ramaphosa regarding the incidents of violence that
recently erupted in some parts of South Africa, which have manifested in attacks on foreign nationals
and destruction of property, presidential spokesperson, Khusela Diko, said
Legit.ng gathered that the envoys will reassure fellow African countries that South Africa is committed
to the ideals of pan-African unity and solidarity, Diko said.
https://www.legit.ng/1259702-xenophobia-nigeria-overreacting-attacks-south-african-official-declares.html

beg? or accept to pay for their loss in cash and kind( be of good behaviour. )

God blessAir Peace boss and Nigeria

mophic123:
I need. For Uber transport. 08023531571 08132270492

ok

Instead of the government increase tax,which is discourage investment inflow, they can talk to us.

Commentary

Climate change alarmism has taken a macabre turn that looks like satire, but isn’t.

It happened in Sweden.

At a summit for food of the future (the climate-ravaged future) called Gastro Summit, in Stockholm on Sept. 3 to 4, a professor held a PowerPoint presentation asserting that we must “awaken the idea” of eating human flesh in the future, as a way of combating the effects of climate change.

In a talk titled “Can You Imagine Eating Human Flesh?”, behavioral scientist and marketing strategist Magnus Soderlund from the Stockholm School of Economics argued for the breaking down of ancient taboos against desecrating the human corpse and eating human flesh.

He refers to the taboos against it as “conservative” and discusses people’s resistance to it as a problem that could be overcome, little by little, beginning with persuading people to just taste it. He can be seen in his video presentation and on Swedish channel TV4 saying that since food sources will be scarce in the future, people must be introduced to eating things they have thus far considered disgusting—among them, human flesh.

Easier sells he suggests include pets and insects, but human flesh was the central topic. In Swedish articles describing this new debate, the term “mannisko-kotts branschen” is introduced. This means “the human flesh industry.”

In his bio at the Stockholm School of Economics, Soderlund states that his research focus includes “consumer behavior,” “marketing stimuli,” “loyalty, emotions, justice perceptions,” “psychological reactions,” and “in a society increasingly obsessed with consumption.”

People can be “tricked,” Soderlund teases, into “making the right decisions.”

Conflating resistance to eating human flesh with capitalist selfishness, the seminar’s talking points ask:

“Are we humans too selfish to live sustainably?

“Is cannibalism the solution to food sustainability in the future? Does Generation Z have the answers to our food challenges? Can consumers be tricked into making the right decisions? At GastroSummit, you will get some answers to these questions—and also partake in the latest scientific findings and get to meet the leading experts.”

In his talk, Soderlund asks the audience how many would be open to the idea. Not many hands go up. Some groaning is heard. When interviewed after his talk, he reports brightly that 8 percent of conference participants said they would be open to trying it. When asked if he himself would try it, he replies, “I feel somewhat hesitant but to not appear overly conservative … I’d have to say … I’d be open to at least tasting it.”

The logo for the talk, titled “Food of the Future: Worms, Grasshoppers, or Human Flesh,” features a splash of blood as part of the graphic design.

What Soderlund doesn’t mention, curiously, is the long documented science on the biological effects of cannibalism.

A tribe called the Fore lived in isolation in Papua New Guinea until the 1930s. They believed in eating their dead, rather than allowing them to be consumed by worms. This led to an epidemic of a disease called “kuru,” or “the laughing death,” caused by ingestion of human flesh. This disease wasn’t caused by a pathogen, but rather, a “twisted protein” (according to an NPR report) that tricks other proteins in the brain to twist like it, damaging the brain’s cerebellum. Researchers compared it to Dr. Jekyll’s transformation. The last victim of kuru died in 2009.

Whoever is in charge of Sweden’s public relations is doing an abysmal job. That’s unless the new brand is that this small Northern country—obsessed with atheism and political correctness—is now cooler than ever for resetting all previously known boundaries of “noir.”

And madness.
https://www.theepochtimes.com/swedish-researcher-pushes-human-flesh-eating-as-answer-to-future-climate-change-food-shortages_3068833.html

What do you think of the new?.share your thought,it will enrich more people

Both States and the federal government revenue have been dropping low while expenditures keep increase,
One major area the government at all level spends money,is the provision of car loan for to their staff.
At N500 per new car initiative,we can take the weight off the shoulder of government and give the government the opportunity to have more money to meet other obligations.
https://www.nairaland.com/5408509/n500-thousand-per-new-car

The N500k per new car will be please to answer all your question that you post here.
https://www.nairaland.com/5384520/n500-thousand-per-new-car

The Ministry of Petroleum Resources of the Federal Republic of Nigeria was not suppose to be sued by P&ID, the right company to sue the Ministry of Petroleum Resources was P&ID Nigeria limited.
But the problem is P&ID Nigeria limited did not enter contract with the Ministry of Petroleum Resources.
The Contract was signed by P&ID,though negotiation was done by P&ID Nigeria limited.
The P&ID was registered in the British island as stated in the exhibit 5,

FIRST WITNESS STATEMENT OF MICHAEL QUINN
I, MICHAEL QUINN, of Process and Industrial Developments Limited (“P&ID”), whose
registered address is Trident Chambers, P.O. Box 146, Road Town, Tortola, in the British
Virgin Islands, and whose office is at 12, Vaal Street, Off Rhine Street, Ministers Hill,
Maitama, Abuja, FCT, Nigeria,

The contrac

EXHIBIT 5

1
IN THE MATTER OF THE ARBITRATION ACT 1996 (ENGLAND & WALES)
AND
IN THE MATTER OF AN ARBITRATION UNDER THE RULES OF THE
NIGERIAN ARBITRATION AND CONCILIATION ACT (CAP A18 LFN 2004)
BETWEEN:-
PROCESS AND INDUSTRIAL DEVELOPMENTS LIMITED
Claimant
- and -
THE MINISTRY OF PETROLEUM RESOURCES
OF THE FEDERAL REPUBLIC OF NIGERIA
Respondent
FIRST WITNESS STATEMENT OF MICHAEL QUINN
I, MICHAEL QUINN, of Process and Industrial Developments Limited (“P&ID”), whose
registered address is Trident Chambers, P.O. Box 146, Road Town, Tortola, in the British
Virgin Islands, and whose office is at 12, Vaal Street, Off Rhine Street, Ministers Hill,
Maitama, Abuja, FCT, Nigeria, WILL SAY as follows:
Introduction
1. I am the Chairman of the Claimant, P&ID. I make this witness statement in support
of P&ID’s arbitration commenced by a Request for Arbitration dated 22 August
2012.
2. By its Request for Arbitration P&ID claims damages for loss of profit and/or other
relief arising out of breach by the Ministry of Petroleum Resources of the Federal
Republic of Nigeria (“the Government”, or "the Ministry" of a Gas Supply and
Processing Agreement dated 11 January 2012 (“the GSPA”).

Shortly thereafter, on 21 July 2006, we also caused to be incorporated a Nigerian
company, Process and Industrial Developments (Nigeria) Ltd (“P&ID Nigeria”).
The intention was to use P&ID Nigeria as our Nigerian operating company “on the
ground”. Ultimately it was P&ID, the BVI-incorporated company, which became
the contracting party to the GSPA.

5 STEPS TO REGISTERING A FOREIGN OWNED BUSINESS IN NIGERIA
Posted at 11:01h in Business Law by Admin 0 Comments
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SETTING UP A BUSINESS IN NIGERIA
Setting up as a business in a new country can sometimes be a daunting possibility for businesses. You are moving into a terrain which you know very little about, there are all the business challenges which you would normally face, and on top of that a lot of potential legal hoops which you would need to jump through in order to be properly set up as a new business.

In Nigeria, the process is fairly straightforward, and we get a number of requests for information about how foreign companies can set up their businesses or their brands in Nigeria. In order to assist these companies and other companies or individuals who may have similar queries, we have decided to write this quick article explaining what the process for setting up as a foreign owned business in Nigeria.

For a foreign company to set up in Nigeria, there are basically 5 mandatory steps:

Step 1

Incorporation of a Limited Liability company with a share capital of N10m (Ten Million Naira) at the Nigerian Corporate Affairs Commission (CAC).

All companies intending to operate in Nigeria must be registered with the CAC. The minimum share capital which a company must have is N10,000. However, for Foreign owned companies, the minimum share capital is N10,000,000 (Ten Million Naira). The process to register is fairly straightforward, and normally takes about 2-4 weeks.

Step 2

Obtain a Tax Identification Number and register for Value Added Tax at the Federal Inland Revenue Service – TIN and VAT Registration. The Nigerian authorities take tax paying as a very serious thing (as it should be), so the first action for every company after incorporation is to obtain a tax identification number. This number is what the company will use when paying for corporate tax and all other taxes, also important is registering for VAT, companies are agents of the tax authorities when collecting VAT on goods and services, and as such, registering for VAT is important. Also, companies are expected to file monthly VAT returns to the tax authorities. The process for tax registration takes between 1-2 weeks depending on the location of the tax office.

Step 3

Open Domiciliary Bank Account with a Commercial Bank in Nigeria and obtain Certificate of Capital Importation. Once a foreign company sets up in Nigeria, the nest thing after registering for tax is to open a corporate bank account, the bank account is where the founders will pay the minimum paid up share capital. Once this is done, the company will need to obtain a certificate of capital importation from its bankers. This document certifies that the funds have been remitted into the bank account, and it is also necessary for future purposes when the company wants to repatriate profits of the company outside of the country. The documents required and timelines depend on the bank where the account is opened.

Step 4

Registration at the Nigerian Investment Promotion Council (NIPC). The NIPC is a body set up by the Federal Government of Nigeria with the aim of encouraging, promoting and monitoring foreign investment into Nigeria. It is in fulfilling this role of investment monitoring that the NIPC requires that all foreign owned companies in Nigeria should be registered with it. The NIPC requires some documentation, including data about of the company and the founders, and also tax and banking details.

Step 5

Obtain a Business Permit from the Nigerian Ministry of Internal Affairs. The final step for a 100% foreign owned company is that it needs to be registered with the Federal Ministry of Internal Affairs, and obtain a business permit. This permit is important not only because the company cannot commence trading without it, but also because it is a precondition for the company to obtain an Expatriate Quota and commence work permit applications if it intends to hire foreign workers.

And there you have it, the 5 steps to setting up a foreign owned business in Nigeria. Once this is done, the next phase is to ensure that you comply with all business operation regulations. For instance, depending on the nature of the business you have set up, you might be required to register with certain regulatory bodies. This will be specific to each business, and therefore it is impossible to cover all the regulatory procedures in this post.

Thank you for reading this post, if you have found it useful please share with your network using one of the share buttons below. If you have any suggestions or feedback, please send us an email at contact@lawpadi.com

Below are the Intended beneficiaries of the N500 Thousand per new Car initiative:
#1 The Buyers will pay N500 thousand only for any made in Nigeria new car values at N10 million or less.
#2 Car Plants will increase sales for their made in Nigeria cars
#3 The Bank will be warehouse in escrow account,buyers payment pending supplies of the car to the buyers by the car companies
#4 Financiers of the initiative will enjoy business expansion into Nigeria
#5 The Initiator will enjoy popularity and national honour.
#6 The Youths will get more job opportunity
#7 Government revenue will increase

https://www.nairaland.com/5384520/n500-thousand-per-new-car

As much as we will want to defend the Nigeria assets, we will also want to know if actually the federal government is lying or p&id is the one lying.
After seen the court document of p&id,i will love to see the mou,knowing that it is a public document .

Please AGON make it public.

Anyone share it here please

Below is the link to the 35 page witness statement of Michael Quinn.
https://pandidfacts.com/wp-content/uploads/2019/05/Witness-Statement-of-Michael-Quinn-February-10-2014.pdf

In it there are certain fact that made me to believe that P&ID Mislead the UK court and the FG,until i see the mou i will reserve my observation.

P&ID also failed to construct the plant for processing the wet gas. So, the two parties failed to actualise their sides of the agreement. In any case, why would the NNPC pipe wet gas to a nonexisting processing plant? P&ID did not even secure a site for the construction of the processing plant, not to talk of constructing a plant. It is simple logic. A processing plant must be on ground before we can start talking about piping wet gas to the place. Perhaps, the promoters of P&ID want the NNPC to pipe the wet gas into their mouths.

Justice Christopher Butcher of a Commercial Court in Britain is yet to give any permission to British firm, P&ID, to seize assets of the Nigerian government abroad. Unfortunately, the rogue firm, which won a ridiculous $6.597 billion (now $9.6 billion) arbitration award against the federal government, has been pushing a narrative that it has approval to seize Nigerian assets. This is aimed at stampeding the government and people of Nigeria. The last paragraph of Justice Butcher’s judgement is explicit. He stated: “I am prepared to make an order enforcing the final award in the same manner as a judgment or order of this court, to the same effect. I will receive submissions from the parties as to the precise form of order appropriate.”

While P&ID is misleading the judiciary in Britain in a desperate attempt to grab billions of Dollars it did not work for, back in Nigeria, it has recruited a Lagos public relations firm, to intimidate Nigerians and the Nigerian government, with unending threats to seize the country’s assets abroad. In the last three weeks, the shameless Public Relations firm has been pushing out false stories about the P&ID case/ judgement. This shows how desperate P&ID and its allies are. This same crop of dubious Nigerians that signed a contract, which did not protect this country in case P&ID failed to deliver, are again working for the firm to get billions of Dollars for job not done. All standard international contracts provide for contingent liabilities on both parties. This was not the case with the illegal P&ID deal struck by these brazen Nigerians in the Ministry of Petroleum Resources, headed then by the late Rilwanu Lukman.

Few days back, P&ID, registered in British Virgin Islands, pushed out yet another story that it had instructed its lawyers to identify Nigeria’s assets that could be targeted to recover the bogus judgement debt. It said it was focusing on identifying Nigeria’s assets that could be seized in the process of enforcing the court judgment. The case is still at the high court level and this frantic firm is already talking about seizing Nigerian naval vessels and oil cargoes. It said: “P&ID will look to seize Nigeria’s assets in the UK to enforce the award as soon as possible. The company’s current focus is vigorously enforcing the award.” Haba! Enforcing which award? Who gave them the authority to enforce the award in a case that is still at the High Court level?

I am happy that the Nigerian government has moved very fast to challenge the evil machinations of P&ID. This is the time to show patriotism. The Attorney General of the Federation, and Minister of Justice, Abubakar Malami, must assemble our legal egg heads to challenge this evil called P&ID.

Let’s critically look at the contract to understand why I often refer to P&ID as a rogue company. The failed Gas Supply Processing Agreement (GSPA), which P&ID wants to use to fleece the Nigerian government, was signed in 2010 by the Ministry of Petroleum Resources. The NNPC was to supply wet gas to P&ID for processing into lean gas for power generation, for a period of 20 years.

According to the GSPA, P&ID was to build two or more plants for the processing of the wet gas into lean gas at no cost to the government since it would be compensated from the proceeds. However, the NNPC failed to build the pipeline to supply gas to the company. P&ID also failed to construct the plant for processing the wet gas. So, the two parties failed to actualise their sides of the agreement. In any case, why would the NNPC pipe wet gas to a non-existing processing plant? P&ID did not even secure a site for the construction of the processing plant, not to talk of constructing a plant. It is simple logic. A processing plant must be on ground before we can start talking about piping wet gas to the place. Perhaps, the promoters of P&ID want the NNPC to pipe the wet gas into their mouths. These are evidently exploitative people. There was no intention to set up any plant in Nigeria. It was just a game to fleece Nigeria, using the flaws in the illegitimate contract.

On August 22, 2012, the British firm filed for arbitration. It accused the federal government of repudiating the contract it entered into with the company. This P&ID contract is a nullity because it was never approved by Nigeria’s Federal Executive Council. Just as the Buhari government had persistently argued, the agreement was on various grounds invalid, subsequently frustrated, varied or discharged by force majeure. P&ID failed to set up a processing plant and turns around to say that the petroleum ministry failed to pipe wet gas to them. Evidently, P&ID did not achieve its own part of the agreement and cannot, therefore, be making dubious claims on Nigeria. P&ID did not construct any gas processing facility at Adiabo, Odukpani LGA, Cross River State, as agreed. Why would an arbitration panel approve an award for the full value of what P&ID could have gained when the firm did not construct or invest anything? It is even more painful that the British commercial court concurred. A court in the US looked at this same case and threw out the ludicrous enforcement request of P&ID.

How would an arbitration tribunal rule that Nigeria was liable for the failure of the contract and should pay the British firm $6.597 billion as the profit that the company would have made in the 20 years tenure of the contract? It also ruled that this portfolio firm should be paid seven per cent interest until the award was settled. This is preposterous. How certain is it that this voodoo firm called P&ID would make unending profit for 20 years? This little-known engineering and project management company misled the British court to convert the arbitration award into a court judgment.

It is germane to note that P&ID admitted at the arbitration tribunal that it invested just about $40 million on the project, during about two years sojourn in Nigeria. That in itself is dubious, considering the fact that the firm did not put a single block on ground in any site. The Governor of the Central Bank of Nigeria, Godwin Emefiele also confirmed that there was no evidence of such capital importation by P&ID. He declared: “As a foreign company, if you are investing either in a contract or a project in Nigeria, there are various options you will adopt in bringing in your investment. If you are bringing in capital, in which case you are bringing in the money, you will fill Form A and you will also collect a certificate of capital importation. If you are bringing in machine or assets to execute your contract, then in this case, you will fill Form M and also collect a certificate of capital importation to prove that you actually brought in money. We have gone through our records; we do not have any information in our records to show that this company brought in one cent into this country.”

Notwithstanding, to be awarded a $6.597 billion compensation for an unproven $40 million loss is crazy. It is now the largest arbitration awards in global history. Already, an American hedge fund company, VR Capital Group, which had knowledge of the matter, had in March this year, bought 25 per cent stake in P&ID, hoping that the moves to fleece Nigeria succeed and it would benefit.

Nigeria should move very fast on legal and non-legal actions to stop the evil bid of P&ID. The dubious firm instituted recognition and enforcement proceedings in Britain and in the United States. The court in the US agreed with Nigeria’s objection but the one in UK dismissed our objection. Nigeria is already processing an appeal to the UK ruling. We must handle this case with utmost seriousness. This country was not diligently defended at the arbitration and British Commercial Court levels. For me, nothing stops the federal government from moving against P&ID’s evil plot in a Nigerian court. Those handling this case for Nigeria should work on this.

While admitting that the government defaulted on the agreed terms, Colins told SaharaReporters that it would have been impossible for a gas pipeline to be constructed without no work being done on the building of the processing plant.

Abayomi Collins, Chairman of the Committee on Water Resources in the sixth House of Representatives, has called on Process and Industrial Development and the Nigerian government, to produce the schedule of milestones they reached in the breached gas contract.

While admitting that the government defaulted on the agreed terms, Colins told SaharaReporters that it would have been impossible for a gas pipeline to be constructed without no work being done on the building of the processing plant.

“First, what are the obligations of PID and the parties to the contract? PID's Primary obligation is the construction of the gas processing plant to which the FGN's is to supply wet gas for processing,” Collins explained.

“Yes the gas pipeline was not constructed, what about the processing plant, has it been constructed?"

“Let the parties bring out the project schedule of the milestone on deliverables. This must be part of the contract agreement of this scale, that will show which of the parties is at fault and to what extent. You don't construct a pipeline to deliver gas without activities on the process plant on-going. Colins who owns a construction company that works in the water resource and oil and gas sectors said the ‘matrix of responsibilities', will give a clear picture to where the fault lines are.

“What is the level of project execution and construction by PID. Must the gas pipeline be completed before the processing plant commenced? Let PID publish the level of their delivery to the project vis Engineering documents, equipment ordered and other materials procurements, etc.

"The agreement will be incomplete without the matrix of responsibilities and deliveries by parties. It is impossible to have such an agreement that is not backed by the division of responsibilities of the parties. That will amount to big scale fraud and scam… built into the Agreement ab initio.”

The former lawmaker also accused the federal government of breaching local contracts often.

He described the P&ID agreement default as a watershed moment for legal institutions to evaluate the government’s frequent abuse of local contract agreements.

“Many local contract agreements are defaulted by governments at all levels, with impunity. Contracts are awarded and agreement in place, signed and sealed, while governments will not appropriate funds for many years of their yearly budget appropriations. Hardly will you find local contract agreements that are without defaults by governments. This is a good case, avenue and opportunity for our legal institutions to properly reflect and address the issues of governments abuse of contract agreements.”

Colins added, “If the FGN arbitrators failed to identify and insist on the failure of PID to construct or commence on the procurement of gas facility which is part of their obligations to the contract, then something must have happened.”

http://saharareporters.com/2019/09/02/9-billion-ex-lawmaker-urges-pid-nigeria-produce-contract-milestones

Brexit and the Irish Backstop Modification is designed to
1 :Keep the Good Friday agreement between British and Irish.
2 :By preventing a hard/soft border between northern ireland and republic of ireland
3 :Through the Creation of EU-UK Joint zone in the West of northern ireland from Portrush down to Newcastle.
4 : To place the west of the northern ireland in the EU single market for a period of time.
5 :This will give UK control over Northern ireland while still maintaining the good friday agreement.

BENEFIT:
Companies relocating to europe can simply relocate to the east of northern ireland to operate since it is still uk but under the eu single market.

The Art of the Failed Deal

It’s said that in Nigeria you can go from pauper to millionaire overnight and back again just as quickly. Even old hands could be caught out by a sudden shift in the political climate, as Quinn was in October 2006. That month, he was charged with espionage and handling secret military materials, alongside his son Adam, a close associate from Ireland named James Nolan, three Nigerian officials, and three individuals from Israel, Romania, and Russia. Details are sketchy, but one of the Nigerian officials submitted an affidavit saying the indictment was over a “large scale of contract scam which involves very senior officers of the Ministry.” Nolan and Adam Quinn didn’t respond to requests from Businessweek for comment, but they denied the charges at the time. The prosecution appears to have been dropped within a year. A defense lawyer involved with the case recalls that the government intervened.”

That same year, Quinn formed P&ID and began exploring opportunities in gas power. He also branched out into medical technology. In 2006, more people were living with HIV/AIDS in Nigeria than in any country but South Africa or India. The Nigerian health ministry’s efforts to tackle the crisis included a multimillion-dollar partnership with Dublin-based Trinity Biotech Plc to supply HIV testing kits and help set up a factory at the Sheda Science & Technology Complex, which was being constructed outside Abuja. The contract for the factory went to an entity called Trinitron, which local media assumed was a subsidiary of the similarly named Irish company. In fact, it had no formal connection to Trinity Biotech of Dublin and was jointly owned by the health ministry and a group of Irish and Nigerian businessmen. Trinitron’s Irish directors included Adam Quinn and James Nolan, according to three people familiar with the deal. Quinn’s firm Industrial Consultants became a shareholder.

A few years into the contract, Trinity discovered that Trinitron had registered a company called Trinity Biotech Nigeria domestically and another called Trinity Biotech Joint Venture in the British Virgin Islands. Executives from the original Trinity were furious when they learned of the clones. In 2008 and 2009, they pulled out of the project entirely.

“Trinity Biotech had no ownership stake in Trinitron or the Sheda project or in any entity or assets within Nigeria,” the Dublin company said in a statement to Businessweek. “Our role in the project was the provision of HIV test kits, which we did, although we were left with a significant unpaid debt when the project ended.” Eventually, government funding dried up, and, according to two sources, Trinitron was reported to local police for allegedly misspending state funds, though no one was charged.

Gerry Nash, Trinitron’s former project director, said in a statement that test kit production at the factory in Nigeria hadn’t progressed because the health ministry wouldn’t buy the kits locally. “People in the Nigerian Ministries were more interested in picking up commissions on imported products,” he wrote. He said that Trinitron had succeeded in developing an IT system and in training HIV specialists, and he denied that the venture was a failure overall, even though the Sheda factory wound down after a few years.

Today, the Sheda site outside Abuja is overgrown with weeds. A pockmarked sign outside the front gate attests that Trinitron once operated there, but none of the buildings look functional. Gravel piles dot the parking lots. The handful of bored security guards and administrative staff on-site say only that Trinitron is no longer there.

When it wasn’t possible to squeeze profit directly from a floundering project, Quinn could enlist the law for the purpose. In 2010, Industrial Consultants brokered a $5 million deal with the Nigerian Air Force to repair ejector seats in six Alpha Jets, small fighter craft often used to train pilots. A British company called North Wales Military Aviation Services Ltd. would do the fixing.

A few months into the contract, the air force terminated it for no apparent reason. The ensuing dispute ended up before a Nigerian arbitration panel, which found that the military had pulled out for “flimsy, untenable, and unacceptable reasons.” It awarded NWMAS about $2.3 million for work allegedly done, plus interest, according to a copy of the private judgment seen by Businessweek.

The case was straightforward enough, apart from one detail: NWMAS didn’t know about any of it. In a statement, the company said its executives had hosted Nigerian officials but never got word it had won the job. Instead, a few months after the visit, it received a letter saying the air force was suing for nonperformance. NWMAS managers forwarded the letter to Quinn’s team and heard nothing further on the matter until being contacted by Businessweek earlier this year.

If NWMAS didn’t participate in the lawsuit, who did? Individuals from the Quinn organization. Long before the ejector seat contract was finalized, unbeknownst to the original company, Quinn’s team had registered a local entity called NWMAS Nigeria Ltd.—another clone.

Murray testified at the arbitration on behalf of NWMAS. “They never f---king paid,” he told Businessweek, referring to the Nigerian air force. He said the British NWMAS had been fully aware of the case and that NWMAS Nigeria had been created to comply with local regulations.

Quinn’s organization apparently had trouble collecting the award. In 2013, Cahill sent a message to colleagues about the struggle to enforce the judgment in Nigeria’s chaotic courts. “The moral of the story is that ideally the ‘seat’ of arbitration should be outside of Nigeria and preferably in London,” he wrote.

Quinn and Cahill already had a stake in at least two lawsuits against Nigeria before the British courts. One of the cases relates to IPCO (Nigeria) Ltd., formerly part of Singapore-based construction group IPCO International Ltd. The parent company sold most of its stake in 2003, leaving behind a shell company whose sole activity seems to have been to engage in lawsuits—notably a $150 million case against the Nigerian petroleum ministry over delays to the construction of an oil terminal. There were familiar allegations of overcharging, and the suit went all the way to the U.K. Supreme Court before being settled on confidential terms last year. How much IPCO Nigeria’s owners received and who benefited remains a mystery. You won’t find Quinn’s or Cahill’s name in the countless claims, counterclaims, and rulings produced since the case began more than a decade ago, but according to three people familiar with Cahill’s role, he helped manage the U.K. lawsuit for IPCO Nigeria in return for a share of the proceeds. The company’s director, Olu Adewunmi, declined to comment on whether Cahill was involved in the lawsuit.
The Big One

The other case, of course, was P&ID. Nigeria’s desire to end flaring and provide power to the troubled Niger Delta had offered Quinn, almost 70 and in poor health, an opportunity to secure his legacy. “Mick was sick,” Murray said. “He wanted to go out on a big one.”

In 2012, once it had grown obvious the gas project wouldn’t come off, P&ID invoked its right to take Nigeria to arbitration in London. Three judges, two Brits and a Nigerian, oversaw the proceedings. From the start, Nigeria’s government seemed reluctant to participate. Its lawyers in Lagos didn’t provide a list of preliminary arguments until January 2014. Later that year, a few weeks before the first scheduled hearing, they told the tribunal they might not be able to set out the government’s case in writing or attend, “due to the inability of our client to provide us with complete instructions.”

P&ID’s submissions included a lengthy witness statement from Quinn, one of his last public declarations before he died. He described spending two years and an estimated $40 million on preparatory work for the gas plant, including a 3D digital model. “I cannot say with any certainty why the government failed to honour the GSPA,” Quinn wrote of the gas sale and purchase agreement. He suspected pressure from international oil companies was to blame. “In any event, I very much regret that we were prevented from implementing the GSPA, which I firmly believe would have been of significant benefit to the nation.” In outlining his history in Nigeria, he didn’t mention any of his military deals, the espionage charge, or the two other lawsuits against the country.

On the basis of largely unchallenged evidence provided by P&ID, the judges dismissed Nigeria’s objections and proceeded to the next stage: damages. According to the Abuja-based Premium Times, Quinn’s company agreed to settle for $850 million, but the government of President Muhammadu Buhari, who’d taken office in May 2015, rejected the deal. When the tribunal convened a hearing on the matter, Nigeria called only one witness—a lawyer who, in the words of the judges, didn’t “claim firsthand knowledge of any of the relevant events.” In January 2017 they awarded P&ID the profits they calculated it had missed out on because the plant wasn’t built: $6.6 billion, more than three times its original estimate of losses.

A ruling in London didn’t guarantee payment, though. P&ID’s lawyers took the judgment to several hedge funds that specialize in wringing cash from bad debts, according to someone familiar with the conversations. Records show they found at least one taker: VR Capital Group Ltd., a fund manager with offices in London, New York, and Moscow.

VR acquired one quarter of P&ID—which really meant, because the only thing of value P&ID possesses is a favorable legal ruling, that it was buying a share of the suit’s proceeds, presumably in return for helping finance the legal action. (Reached by phone, VR Capital President Richard Deitz said, “No. Can’t talk. I’m busy,” then hung up. The company didn’t respond to an emailed request for comment.) The remainder of P&ID is held by Cayman Islands-based Lismore Capital Ltd., whose ultimate owners are unknown. If the Nigerian government ever pays up, it will be impossible to know who benefits.

Last October law firm Kobre & Kim and public-relations specialist DCI Group registered with the U.S. Senate to lobby on behalf of P&ID. Op-eds critical of Nigeria soon appeared in Forbes and the Daily Telegraph, urging its government to honor the judgment; another, authored in London’s City A.M. newspaper by Priti Patel, a former British secretary of state for international development, accused the country of flouting international law. Journalists also began receiving messages from a group called P&ID Facts, whose emails list the same address as that of DCI Group. “The founders of P&ID have a track record of delivering in Nigeria and for Nigerians,” the organization’s website says. “The P&ID project was to be their swan song project after over three decades of public works projects in the country.”

Nigeria’s president thus far appears unmoved. A former general who styles himself as a simple cattle farmer and anticorruption crusader, Buhari has a relatively clean reputation. He responded angrily to Patel, issuing a statement through his spokesman that echoed what Pizzurro’s whistleblower had said: The P&ID lawsuit wasn’t what it appeared to be. “Before the coming of the Buhari administration, there existed in the country a racket encompassing elements in the three arms of government, the executive, legislature, and the judiciary through the activities of which artificial, engineered, and factored breaches of contract are made, judgments are obtained, appeals are delayed, and the penalty imposed is paid and shared,” the statement read. “Nigerians need to pity their own country for the way things were done in the past.”

A spokeswoman for P&ID said the panel of arbitrators had heard evidence from both sides and ruled unanimously that Nigeria failed to uphold its contractual commitments and was liable to P&ID. “It is unfortunate that instead of accepting the tribunal judgment and engaging in good-faith discussions to bring about a solution, President Buhari’s government has resorted to spreading unfounded allegations,” she said. She described the justice department’s corruption probe as a “sham” and said the government’s allegations were “entirely fictional,” adding, “The Nigerian people would be better served if the government made a serious offer to resolve this dispute rather than only blaming others, which will not make the legal obligation to pay go away.”

The list of Nigerians skeptical of P&ID’s position includes Danjuma, the 81-year-old billionaire and former general. In an interview with Businessweek, he said the gas flaring project was originally his idea, and that one of his companies, Tita-Kuru Petrochemicals Ltd., had spent the $40 million preparing it, not Quinn. The Irishman had been a consultant, using Danjuma’s funds and office space, the general said. When Quinn applied for the contract himself, Danjuma was upset.

The realization dawned, he said, that “my consultant was going to steal my project.” He recalled being promised a share of P&ID in return for his initial investment, but added that he hadn’t heard from the company in years and that Cahill hadn’t replied to letters about the lawsuit. At one point, Danjuma dusted off his hands to emphasize the relationship’s end. P&ID’s spokesperson declined to comment on Danjuma’s involvement or any other matters raised in this story. Cahill didn’t respond to attempts to contact him directly.

Lights Out

At Quinn’s funeral in February 2015, they played The Lonesome Boatman, a flute ballad by the Fureys, one of the bands he’d managed in his youth. His obituary in the Irish Independent traced his love of Nigeria to those days, saying he’d found doing business there much like running show bands in the ’60s. “He was a clever guy, an honorable guy,” Murray said of his longtime friend. “He was trusted. How much money he made I don’t know. His house is a hell of a lot bigger than mine.”

In spite of Buhari’s comments and the criminal probe, Nigeria hasn’t made any formal allegations of misconduct, and it isn’t clear whether the country will challenge the deal’s legitimacy in court. Meanwhile, the $9 billion debt is growing by more than $1 million a day, because of interest. P&ID is now owed enough to fund Nigeria’s school system for seven years.

Or perhaps enough to eliminate flaring for good. In May an Abuja TV news program aired a segment about villagers who were using flames from the Niger Delta’s gas pipes to dry their fish, seemingly unaware of the health risks. “Communities don’t know the difference between day and night because they go to bed with active gas flare sites,” said Faith Nwadishi, a local activist. The show’s host was just beginning a sermon about electricity’s importance for economic development when a power outage struck, plunging central Abuja into darkness. —With Tope Alake, Matthew Campbell, Gavin Finch, Daryna Krasnolutska, the International Consortium of Investigative Journalists, and Süddeutsche Zeitung

The Trouble With Nigeria

Throughout the 2000s, Quinn lived a kind of double life, divided between Nigeria and a comfortable suburban house near Dublin. At home he was Mick from Drimnagh, living with his wife, Anita, who’d been his childhood sweetheart, and their two Doberman pinschers. On Tuesday nights he’d drop Anita off at bingo, then pick up fish and chips for dinner.

Life in Nigeria was very different. The country’s freewheeling capitalism was fraught with risk and opportunity. The writer Chinua Achebe detailed the climate in his 1983 polemic The Trouble With Nigeria: Contracts with the military government were currency, doled out by senior politicians to allies and friends as the public bore the burden of hidden kickbacks, inflated prices, and stolen materials. Military rule ended in 1999, but democratic Nigeria was proving just as restive and complex. There were tribal uprisings in the Niger Delta and kidnappings and religious conflict elsewhere.

Quinn nevertheless thrived, befriending presidents and civil servants alike. He and Cahill used a company called Marshpearl to bid for lucrative military contracts, initially registering the name in Ireland, then in 1999 using the Panama-based law firm Mossack Fonseca & Co. to create Marshpearl Ltd. in the British Virgin Islands. To the outside world, the BVI company was practically untraceable. Mossack Fonseca documents leaked to the newspaper Süddeutsche Zeitung and made available to Businessweek by the International Consortium of Investigative Journalists show that Marshpearl Ltd.’s directors were nominees, paper executives whose sole job was to sign documents. (Reached by phone, one of them, Nigel John Carter, a Geneva-based trusts specialist who was also a director of another Quinn BVI vehicle called Kristholm Ltd., said, “I’ve never heard of those two companies.”)

Marshpearl sponsored a local polo team, giving Quinn an excuse to mix with the Nigerian ruling classes. His sons attended elite private schools with the sons of politicians and generals, who asked Quinn to help them acquire helicopters, Japanese motorcycles, and more. On the golf course back in Ireland, friends recall, Quinn would pick up the phone to talk to various officials or military leaders. “Did you get them guns?” one friend remembers him asking in his distinctive Drimnagh drawl. His golf buddies were never sure if he was joking. His contacts included Theophilus Danjuma, who’d risen to prominence in the ’60s by leading a bloody coup against Nigeria’s military ruler. Danjuma went on to become a general, then entered business and eventually politics, ascending to defense minister in 1999. He later sold a stake in a Nigerian oil field to a Chinese state company, helping make him a billionaire.

One of the few people who would speak on the record about Quinn’s life in Nigeria is Neil Murray, a friend of 30 years who was involved in several Quinn projects there. Sitting one night at the Abuja Hilton piano bar, a favorite haunt, Murray wasn’t hard to spot: a gray-haired figure so hunched over he was bent almost double, puffing cigarettes and chatting with businessmen and prostitutes, who called him Papa. After initially accusing a Businessweek reporter of being a spy for the Nigerian government, he agreed to talk. “Mick knew Obasanjo. He knew Yar’Adua,” Murray said, referring to former presidents Olusegun Obasanjo and Umaru Musa Yar’Adua. “He knew everyone.”

Among the projects Murray was involved in was a contract to repair and upgrade 36 British-made Scorpion tanks at an abandoned plant at Bauchi, in the dusty heart of Nigeria. It had all the hallmarks of Quinn’s deals in the country: complexity, misdirection, and a substantial payday for the middleman. “There was a subsequent contract, and a subsequent contract, and a subsequent contract,” Murray said. “It was an ongoing process.” Quinn personally recruited military experts to manage the work and find replacement parts. At one point, Danjuma visited the site.

Several people involved in the venture described each vehicle as an opportunity for profit. Petrol engines were replaced with diesel engines. New radios were installed. When faulty valves needed replacing, one former employee said, he found a British supplier for a few pounds a unit. “Too cheap,” he remembered Quinn telling him. They found costlier valves elsewhere. The more expensive the new part, the bigger Marshpearl’s cut.

A memo viewed by Businessweek that circulated among Quinn’s team noted that Marshpearl had charged the Nigerian army for undelivered tank parts, making his organization “vulnerable.” But the company kept winning contracts, in spite of this hitch and others. It’s not clear how many millions of dollars Nigeria spent on the Bauchi project, but the relationship likely made Quinn a fortune.

For one contract, a spinoff from the main deal, his company sought to supply about 4,000 rounds of tank ammunition made by Belgian defense company Mecar SA. A January 2005 memo outlining Marshpearl’s plan says Quinn’s staff told Mecar they would handle bidding, contracts, and billing. Mecar’s managers “do not want to know the details as they would be embarrassed with Belgian authorities and U.S. owners,” the memo said.

The blueprint called for Marshpearl to establish a company called Mecar SA, register it in Cyprus, and open a bank account for the new offshore entity to avoid Nigerian taxes on the income. The original Mecar would write up a bid for the contract and send it to Marshpearl, where the document would be scanned and altered to increase its value by 20%—commission for Quinn and his friends. Payment to the original Mecar would be routed through the offshore one. All documentation was to be delivered by hand.

The “paper trail” was Marshpearl’s greatest area of concern, the memo’s author wrote, without explaining why. Broadly speaking, while offshore companies have legitimate purposes, they’re also favored by those trying to avoid tax or government scrutiny or hide illicit income. In some jurisdictions, secrecy laws make it virtually impossible to find out who owns them. Registering a company with a virtually identical name to a separate, legitimate business would have the effect of further obscuring the real beneficiaries.

To a watchdog or another outside observer, the Mecar arrangement would look like a simple transaction between a respected manufacturer and the army, with the middleman getting its cut. A tender bid document sent by the offshore Mecar to the Ministry of Defense a few months after the memo’s date placed the contract’s ultimate value at €4.9 million ($5.6 million), meaning Marshpearl would have made almost a million euros.

Shown the memo at the Hilton bar, Murray said, “Very clever.” He didn’t see anything improper in the deal’s structure but added, “I wasn’t directly involved.” A spokesman for Mecar’s current owner, Nexter Group, said the Marshpearl deal took place before it acquired the company in 2014 and that it complies with rules and regulations.

In the summer of 2018, a man who’d worked for Quinn contacted Joseph Pizzurro, a veteran New York lawyer hired by Nigeria to lead its defense in the U.S. The caller wanted to talk about the P&ID case. “I don’t think it’s genuine,” the man said, according to an account he gave Bloomberg Businessweek on condition of anonymity because he feared for his safety. He told Pizzurro that Quinn had conspired with officials to profit from government projects that were doomed from the start and that P&ID was one of at least three such lawsuits involving Quinn. The caller couldn’t provide enough evidence to substantiate his claims, though, and he didn’t contact Pizzurro again.

This August, P&ID won a ruling from a London judge allowing the firm to start seizing Nigerian assets. Hailed as a vindication by Quinn’s company, it caused an outcry in Nigeria. The country’s finance minister said at a press conference that the size of the award, which has risen above $9 billion with interest, meant all Nigerians would pay a price. The chair of the central bank said that the case has affected monetary policy. Toward the end of the month, the justice ministry opened a corruption investigation into how the gas plant deal was struck. “The contract was designed to fail right from inception,” attorney general Abubakar Malami told reporters. If the Nigerian government is right, P&ID was an audacious scheme that had made unwitting accomplices of legal professionals, financial institutions, and politicians around the world.

The company and its founders remain elusive. A Nigerian newspaper recently published a list of unanswered questions about the firm: Where are its offices? How many people does it employ? How did such a tiny company win such a large concession? Quinn isn’t around to answer them; he died of cancer in 2015. But a close examination of his career, drawn from public records, leaked documents, and interviews with friends and former associates, shows that P&ID wasn’t the only Quinn project to end in disappointment, lawsuits, and corruption allegations. It was just the largest—the one that was supposed to provide his biggest payday.

Man in Mohair

Quinn grew up in Drimnagh, a tough neighborhood in Dublin. After leaving school as a teenager in the 1950s, he trained as a mechanic. An ordinary blue-collar life might have beckoned had one of his neighbors not started a show band, the Royal Olympics. These groups were unique to ’60s and ’70s Ireland: shiny-suited young men playing rock ’n’ roll or jazz, perpetually touring church halls and farm sheds to earn shoeboxes full of cash.

The Olympics needed a manager, and soon Quinn had a new career as one of the natty, ruthless handlers a BBC documentary labeled “men in mohair suits.” He ran some top acts: Daddy Cool & the Lollipops, Twink, Dickie Rock. An old friend recalls that he’d approach a singer and say, “How much are you earning? One hundred pounds a gig? I can get you 1,000.”

Quinn stuck with the industry for a while after the show bands’ popularity declined—newspaper reports suggest he arranged an Irish tour by Diana Ross and the Supremes—but there was more money to be made elsewhere. At some point in the ’70s he started working in Nigeria, either as an oil trader or a financier of cement deals, depending on which of the scattered accounts of his life you believe. He began profiting from a construction boom taking place in Lagos, which was then expanding with such chaotic abandon that hundreds of cement-bearing cargo ships were lined up at port waiting to dock.

He kept working in Ireland, too. In 1979 he and a partner, Brendan Cahill, formed an umbrella company with the resolutely dull name Industrial Consultants (International) to oversee their interests. They began working with the government, for example getting a public grant worth $450,000 to start a videocassette factory near Dublin. The project went bust within two years.

Quinn’s business drew on some powerful allies dating to his show band days. One of the closest was Albert Reynolds, a former music hall impresario who was elected to Parliament in 1977 and became prime minister in 1992. Two years after being elected PM, Reynolds was promoting Kent Steel, one of Quinn’s companies, as a potential savior of Irish industry. Kent had recently won 3 million Irish pounds (about $4.3 million at the time) from the European Union to explore cleaner technology for making steel—potentially a huge boon. Instead, the project produced nothing but some sketches and a bunch of debris.

Joe McCartin, then a member of the European Parliament, says he raised concerns with an EU official that the deal was a scam and was told, “Don’t worry. Your prime minister, Albert Reynolds, knows all about the project.” The EU did eventually start a probe into the grant, and McCartin, who’s now retired, says its investigators showed him a letter from Irish prosecutors relaying that a fraud had been committed but that they couldn’t identify the perpetrators. The probe was eventually closed without penalty; the EU refused to fulfill a freedom of information request about the case, citing privacy rules. Reynolds passed away in 2014.

Quinn’s name came up again during a nationwide corruption inquiry in Ireland. The Mahon Tribunal, as it was eventually known, lasted for 14 years, compiling evidence of graft on an epic scale. Quinn was called as a witness in June 2007, one of the few times he ever spoke on the record. The tribunal wanted to know more about relationships Industrial Consultants had with Frank Dunlop, a shady lobbyist, and Liam Lawlor, a corrupt Republican MP who’d resigned in disgrace before being killed in a 2005 car crash outside Moscow.

Quinn denied knowledge of invoices that bore his company’s name—payments for golf fundraisers, he guessed—and said he thought his signature had been forged on checks. He had no recollection of many of his dealings with Dunlop. “You are a singularly unhelpful witness,” Alan Mahon, the presiding judge, told him. “What you are telling us is nothing, absolutely nothing.” The tribunal later found that tens of thousands of pounds had flowed from Quinn’s companies to Lawlor, but Quinn wasn’t recalled to the stand, and neither he nor Industrial Consultants faced any action.

By then, Quinn had developed a fearsome reputation. Several former associates told Businessweek they were scared to speak on the record about him, because they believed he had ties to Irish paramilitaries; one said Quinn told him his father had been in the original Irish Republican Army in the 1920s. Employees introduced him as “the chairman,” and he employed a man with a pugilist’s squashed nose to drive guests around Dublin, apparently without great regard for red lights. A former Quinn associate says that when Quinn’s daughter ended a brief marriage to David Boreanaz, an American actor best known for roles on Buffy the Vampire Slayer and Angel, Boreanaz called Quinn to make sure there was no bad blood between them. Boreanaz’s manager didn’t respond to requests for comment.

Is One of the World’s Biggest Lawsuits Built on a Sham?
A dying Irishman went for one last big score in Nigeria. The project failed, but a London tribunal says his company’s owed $9 billion and counting.
The oilfield fires of the Niger Delta burn day and night. Metal pipes snake through the swampland, spewing flames so vast they cast the sky in apocalyptic orange. Southern Nigeria sits atop a bubbling stew of oil and gas. Companies want only the former, so they incinerate the latter. The industry calls it “flaring.”

For millions of Nigerians, flaring is a curse. It fills the air with toxic fumes that cause respiratory disease and cancer and later fall as acid rain, which damages homes and crops. It also wastes vast amounts of energy in a region where many villages lack electricity and cities suffer daily blackouts.

In 2008 the Nigerian government said it would end flaring by using oilfield gas to generate electricity. The minister of petroleum resources acknowledged that the challenge would be “enormous.” Converting gas requires it to be captured, transported, refined, and piped back to power plants and onto the grid.

Officials struggled to persuade big multinationals to invest in the required infrastructure, so concessions were granted to 13 smaller companies, some virtually unknown. One was Process and Industrial Developments Ltd., or P&ID, which was registered in the British Virgin Islands but had no website or track record. Its chairman was Michael “Mick” Quinn, a 68-year-old Irishman with a rakish mustache and decades of experience in Nigeria, mostly as a military contractor.

Quinn knew powerful people, including the petroleum minister, who guaranteed P&ID a 20-year supply of “wet,” or unrefined, gas for a plant the company would build. The raw material would be supplied for free, to be treated and returned at no cost. P&ID would instead profit from the byproducts, butane and propane. Everyone stood to benefit, not least the villagers whose homes would be lit by electricity rather than the wan glow of flaming methane.

Then the plan fell apart. The government failed to secure any waste gas from oil companies, let alone link up the necessary pipeline, and the plant was never built. In 2012, P&ID notified the oil ministry that it was suing for breach of contract in a London arbitration forum. After a set of closed legal proceedings, judges awarded P&ID $6.6 billion, one of the biggest amounts a company has won from a sovereign state. When Nigeria dragged its feet on payment, P&ID teamed up with a hedge fund and moved the case to public courts, where it could ask judges to seize state assets, including bank accounts and cargo ships.

https://www.bloomberg.com/news/features/2019-09-04/is-one-of-the-world-s-biggest-lawsuits-built-on-a-sham

The Nigeria government and other country government should set up a special fund, where percentage of the profit from south african investment in Nigeria can be used to settle all loss suffered by Nigerians based in South African,provided the lost is verified by a special task force set up by the Nigerian Government.
The Task force should comprise of the Nigerian embassy,Nigerians Community in South Africa Association,Nigeria in Diaspore Commission and any other relevant body.
The value of South African investment in Nigeria can cover the lose suffered by Nigerians

For those who say MTN is a Nigerian business KNOW THIS:

MTN International holds approximately 70% of the shares.

The largest shareholders of MTN Nigeria and their stakes:

1. MTN International (Mauritius) Limited

Stake: 76.08%.
Worth: N1.68 trillion. (1/2)

2. Stanbic IBTC Assent Management Limited.

Stake: 9.64%
Worth: N213.7 billion

3. Victor Odili

Stake: 3.96%
Worth: N87.87 billion

4. Mobile Telephone network

Stake: 2.75%
Worth: N60.95 billion

5. Government Employees Pension Fund

Stake: 1.75%
Worth: N38.68 billion (2/3)

6. Pascal Dozie

Stake: 1.67%
Worth: N37.07 billion

7. Sani Mohammed Bello

Stake: 1.3%
Worth: N28.87 billion

8. Babatunde Folwawiyo

Stake: 1.07%
Worth: N23.83 billion

9. Gbenga Oyebode

Stake: 0.89%
Worth: N19.80 billion (3/4)

10. Mallam Ahmed Dasuki

Stake: 0.75%
Worth: N19.35 billion

11. Kari Olutokun Toriola

Stake: 0.005%
Worth: N100.10 million.

Stop dreaming, wake up and be realistic so people won't call you a scammer.

First thing to be determined in manufacturing is industrialization. Is Nigeria an industrialized nation?

Second is metallurgy industry, where do you hope to smelt iron ore/metal ores, separate metal ore into constituents, bend and mould liquid metals into required shape?

Thirdly you need will of technicians who know what they are doing inorder to make your vision a reality, road side mechanics are well trained than all those Nonsense professors we have littering the 4 walls of a university all they know is to be chasing girls demand sex for marks, is it those 1s that want to produce your 500k brand new car.

NADDC and Car Manufacturing companies knows their capacity,and we will work in line with the capacity of the car companies. Our plan is to boost their production by increasing purchase of the made in Nigeria cars.

Finance, unfortunately for you, Nigerian Banks don't finance startups who just assume and haven't really done anything to be sure, except you know someone that knows someone who knows someone your 500k brand-new car is going to go through samething Nigerian entrepreneur without funds face.

Funding will not come from Nigeria bank,but our standby partners.

Economy, the Nigerian economy currently can't sustain such business, people you are targeting barely eat 3times meal a day, they struggle to send their children to school and have just enough after paying other heavy bills just to start building in the village, car is their last need currently.

That is the reason we are going to sell to them goods car ,example Innoson IVM costingN7+ million for N500,000 only.

I am not discouraging you or anything but even a brand new TATA NANO is $3400 even if you bring a CKD of it to Nigeria It can't be sold eventually at 500k to customers

A CKD will boost Nigeria industrialization drive.

We want to operate the "N500 thousand per Car Initiative" with the sole aim of developing the Nigeria car industry by buying made in Nigeria cars at current market price and selling at a very affordable rate to Nigerians in order to create a sustainable market for the made in Nigeria cars and boost the economy.
Below is a brief,please read and make your observation in order to us to continue in the part of the law of nigeria as we go forward.

https://www.nairaland.com/5384520/n500-thousand-per-new-car

Most financial crime are committed using the bank as medium of collecting payment,as a Nigerian who have been on the receiving end of the impact of financial crime in Nigeria.
I will like to offer my suggestion,knowing that banks can play a major role in putting an end to financial crime in Nigeria.
my suggestion to banks is:
Create a special "Fund Transfer System":
(a)Stating the sender name,receiver name,
(b)Purpose of the payment,
(c)Expected date that the sender wants the receiver to withdraw the money,
(d)The conditions the receiver must meet in order withdraw the money
(e) The condition must be confirm by a NBA member on the bank list of lawyers
(f) The bank branch where the receiver can only withdraw the money

As part of N500k per New Car Initiative

https://www.nairaland.com/5384520/new-car-n500-thousand-only

We will appreciate bank act accordingly.

[img][/img]While we are interested in promoting made in nigeria cars using our N500k per Car Initiative, we will also want to ensure that they meet consumer expectations.
Based on this, we will appreciate feedback from anyone who has driven or known anyone that has driven or is driving the Innoson IVM Fox.
Please share your experience here.
About our N500k per Car Initiative,see

https://www.nairaland.com/5384520/new-car-n500-thousand-only

Our proposed plan is.

Prospective buyers pay into the sales account.
EFCC,NACCIMA, will be invited to monitor the account
We can only withdraw funds from the account,after everyone get his/her car.

So please, we will like to hear your suggestion that will make your payment safe and at same time ensure you get the car.
https://www.nairaland.com/5384520/n500-thousand-per-new-car

Most people blame buhari for the current challenges facing industries in Nigeria,especially the auto industries.
When the Coscharis boss made the headline recently with his complaint,president buhari was blame,now Toyota,suzuki wants to site plant in Ghana, the guy to be blame again is president buhari.

But have you sat down to ask,why has efcc not arrest Innoson boss,with the gtbank issue.because he is a clean business,forget the litigation which is normal in business transactions.

So every business operating right now in Nigeria has one international image........They Maintain High level of integrity in the eyes of international business community.

At if they are corrupt,EFCC would have visited them.

But Nigerians owned company are not taking advantage of this image to attract funds from international investors and also to sell their products to the international market.
Ask UBA Chairman, why he likes be seen with the Mr President,whenever the president travels outside officially.

So Innoson sell cars outside Nigeria,because they believes him,reason because as long EFCC has not blacklist him,he business proposals are genuine

What if we are genuine and our strategy is workable?
A fraud will not invited the anti fraud agency to observe is operation.

Note:The basic order of collection will be determine on a first come basis,that is order of registration

What we intend is called Private sector powered subsidy. It allows us to buy product at current market price and sell below the cost price.
The reason is to boost local production and create jobs.

All hands must be on deck to legally develop our economy ,as we have no place else to call home.

We understand everyone concern,when the FBI just arrested some Nigerians and the EFCC is on the news daily for same reason of arresting Nigerians.

How Strategy is pure,as payment can only be made to bank.
The NADDC,MAN,NACCIMA,BANK,EFCC,SON,All local car plants will be invited to be stakeholder ,when the required number of buyers that can sustain the production of the relevant product is met.

So tell your family and friends to get ready with their N500k

Our source of funding can last the test of time.

As a member of a city chamber,integrity is our watchword.

Note: The offer is for made in Nigeria car
Q1: Is it possible?
A :Yes.
Q2: Is the funding legal?
A :Yes.
Q3: How?
A :Interested buyers will pay N500 thousand only ,while the co-financier will pay the balance.
Q4: Will the buyer make additional payment?
A :No.
Q5: When will the buyer get the car?
A :As soon as the manufacturer release it.
Q6: When
A :After payment.
Q7: Why is the co-financier co-funding the car purchase?
A :for the right to be the sole supplier of tyres,car plug,battery,fire extinguisher,fuel,any lever phones and recharge card etc to the buyer as long as he/she uses the car.
Q8: Any other reason?
A :Any to encourage the local productions and create jobs.
Q9: When will the scheme start?
A :When the buyers interested are enough to support the start and sustenance of production of the above listed items.
Q10: How can the co-financier know those interested in fulfilling the above conditions?
A :Interested buyers must have atleast 3 salary account holder as guarantors of the sole purchase agreement and also notify your bank.
NB:The bank with the higher number of interested buyers will be the receiving bank.
Q11: What type of car?
A :Made/SKD or CKD Assembled in Nigeria car worth less than $27 thousand car
NB:We will a limited number of SKD in order to encourage the plants to move to CKD.

cc:EFCC,MAN,NACCIMA,NADDC,INNOSON,COSCHARIS,PAN, Other CAR PLANTS ,ALL BANKS,NLC

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