QuotaSystem:
Dangote's refinery will definitely be a game changer for the Nigerian economy.

What a genius strategy. Imagine a scenario where other African countries would be looking for Nigerian Naira in order to purchase Nigerian Petroleum Products. It would increase the organic demand for our currency thereby boosting its value



This does not make sense. There is no way Dangote's petrol would be more expensive because not only has the issue of landing cost been eliminated since we're no longer importing, but the market has also been deregulated (which is why we suffer price hikes whenever price of crude or USD rises).

You're right about elimination of subsidy which will save us significant amounts of money, but even greater benefits would come from saving millions of USD daily that would have been wasted to import refined petrol (a whopping 41% of our forex saved); further boosting our foreign reserves and the value of the Naira. The multiplier benefits from job creation and development of allied industries to support the refinery and petrochemical plant are better imagined.

Finally, the disgraceful economic anomaly wherein the 6th largest oil producer in the world is one of the biggest importers of petrol from less endowed countries, and continuously suffers whenever crude prices rise instead of enjoying the largesse like fellow oil producers, will finally come to an end thanks to Dangote's refinery. I wish him the best and I'm excited for Nigeria.

On paper the strategy is a banger. From the Nigeria context it will not strengthen the naira value because I can’t bet anybody that Dangote will not sell to the rest of African and the world in Naira. He will sell in dollars to the rest of west Africa. This guys don’t believe in the naira currency.

LORDKing001:

Read what you wrote. Does it make any sense to you?

Did you just said Northern President...and not Nigerian President. You are complete mad man. May GOD almighty punish you..

Good... this what I have always been waiting for to happen. Now that members of representatives are affected hopefully the government will come to their senses. There’s nowhere to run. We are in this shit together.

Building 27km rail line for 13 years. Seriously God is not with this country anymore.

I did the presentation twice both for CBN and NNPC 2015 and 2017....bunch of criminals in government.

It shall not be well with them all starting from the president to list among them...

lozanni:

I am surprised at the above high charges, which are patterned after the Abuja-Kaduna rail line fares.
Travel time from Abuja to Kaduna is about 3 hours by road, while from Lagos to Ibadan should not be more than 1 hour 15 minutes, on a good day.
The above difference in time means that the rail trip from Lagos-Ibadan ought to be cheaper.
I wonder what others think about this.

Cc: lalasticlala

You are completely right my brother, right on Point.....but don’t forget that we have mad people in Government. People who are far from critical thinking like you and me.... mad people full this government....

ethicallyright:
The Distinguished and Intelligent Lagos State Governor, Sanwo- Olu, is just a victim of the anarchy of narcissistic and prideful uninformed youths, clandestine manipulation of the undemocratic opposition party , class struggle of the lazy and unproductive majority , violent schemes of the fraudulently ambitious socialists and cowardly motivation from a failed secessionist group.

---

He intelligently imposed a curfew to enforce order in the state he was democratically elected to govern in order to balance conflicting human rights which is the obligation every responsible government anywhere in the world must observe.
The same chapter 4 of the Nigerian Constitution which confers rights of protest and "peaceful" assembly on Nigerians also grants Nigerians the freedom of movement which road blockades built by the insolent protesters denied breadwinners looking for their daily bread. For instance , to safeguard the right to life by protecting the health of the vulnerable, Governments across the world restricted the right of citizens to freedom of worship and movement through a necessary lockdown and the responsible citizens adhered to this directive which was to balance conflicting rights. Blocking roads , freeing prisoners, killing law enforcement agents and looting arms were not only the infringement of the fundamental rights of Nigerians but felonious crimes.

---

To maintain law and order that was fast deserting the Urban South Western Nigerian city,it was necessary to call in the army to assist the almost defeated police force. Even though there is no strong evidence that people died at Lekki Toll gate a month ago, it is important to add that even if they did die, they were the collateral damage necessary to restore law and order and also abolish anarchy.

Your Governor is a serial liar.

This politician are truly useless. If you believe there’s a camera, then nothing happen ... The protest did not even happen....it was a mirage nothing happen in Nigeria in the last 3 weeks ..

Government say army didn’t shoot or perhaps they don’t know who shoot. Protesters say 78 people died... but we later discovered that 2 people died and several people injured.

Who is a liar between the Government and the Protesters Ans.;BOTH PARTIES.

Who is a bigger liar between the government and protesters. Ans ; GOVERNMENT

Look at useless people they can’t think atall... Lagos is the oasis and birth place of thuggery that has work for this administration for 20years.
They are even empowered to extort there fellow commercial bus owners.
It is there for us all to see ...stop the cheap talk. It is only the truth that will set this country free.
2023 is around the corner they will use them again when election come...

The governor is a big liar..

Nobody should have a direct control of the police force. Absolutely not the governor.

Fucking useless people you want to improve revenue and you are still paying 128billion naira to less than 500 members of the National Assembly. It is time to make sacrifice starting from the president to the poorest Nigeria. The number one priority of the commander in chief is protection of life and property yet you budgeted 403 billion naira to 371,800 men of the Nigerian Police and you want security and development. The president has failed in his number priority.

Mickiebrownkie:
STATE HOUSE PRESS RELEASE

OFFICE OF THE VICE PRESIDENT

NEC TO GOVS:
TAKE CHARGE OF POLICE TACTICAL UNITS

*JUDICIAL PANELS OF INQUIRY FORMED TO INVESTIGATE POLICE BRUTALITY IN ALL STATES, FCT
*PANEL HAS 6 WEEKS TO COMPLETE ASSIGNMENT
* COUNCIL ALSO DIRECTS SPECIAL FUND IN ALL STATES TO COMPENSATE VICTIMS OF BRUTALITY

Rising from its monthly meeting the National Economic Council has directed the immediate establishment of State-based Judicial Panels of Inquiry across the country to receive and investigate complaints of Police brutality or related extra judicial killings with a view to delivering justice for all victims of the dissolved SARS and other police units.

The Council specifically resolved that State Governors and the FCT Minister should take charge of interface and contact with the protesters in their respective domains.

At a meeting presided over by Vice President Yemi Osinbajo, SAN, and attended by State Governors, the Judicial Panels which would be set up in all the States would include representatives of Youths, Students, Civil Society Organizations and would be chaired by a respected retired State High Court Judge.

The Council also directed that State Governors should immediately establish a State-based Special Security and Human Rights Committee to be chaired by the Governors in their States, to supervise the newly formed police tactical units and all other security agencies located in the State.

The idea of the Special Security and Human Rights Committee in all States of the Federation and the FCT is to ensure that police formations and other security agencies in the State consistently protect the Human Rights of citizens.

Members of the Special Committee would also include Representatives of Youths, and Civil Society. The head of Police tactical units in each of the State would also be a member of the Committee.

Regarding the Judicial Panel of Inquiry, each State Government is to set up the Panel, chaired by a retired High Court Judge, with other members selected by the State Governor as follows:
*Two representatives of Civil Society groups
*One Retired Police Officer of high repute
*One Youth Representative
*One Student Representative
* One Representative of the State Attorney-General Ministry and a representative from the National Human Rights Commission.

The terms of reference for the Judicial
Panel is to -
*receive and investigate complaints of Police brutality or related extra judicial killings;
*evaluate evidence presented/other surrounding circumstances, and draw conclusions as to the validity of the complaints; and
*recommend compensation and other remedial measures, where appropriate.

The Panel’s assignment should be concluded within a maximum of six (6) months, unless it shows convincing reasons why the State Governor should allow an extension.

There would also be Human Rights Public Complaints Team of between 2 to 3 persons to receive complaints on an ongoing basis. That team would be established by the Special Committee on Security and Human Rights.

It was resolved that each State Government shall also set up such a Complaints Office to which members of the public can relate by telephone or social media channels.

It shall be the duty of the officers of the Complaints Office to liaise with the leadership of security agencies, attempt resolution of complaints or otherwise guide the complainants.

Also NEC directs all State Governors to immediately establish a Victims Fund to enable the payment of monetary compensation to deserving victims.


OTHER HIGHLIGHTS OF TODAY'S NEC MEETING

Council also received update on Nigeria’s COVID-19 response efforts from the Director General of the Nigerian Centre for Disease Control (NCDC), Dr Chikwe Ihekweazu.


According to the report, state performance in testing in the last month showed that state testing in September compared to August recorded decline in 18 States and improved testing in 19 others.

The NCDC DG also listed priority intervention areas as, strengthening States’ Health Security Architecture (Strong State Epidemiology team, Functional EOC, Functional Molecular Lab, Defined Treatment Centre, Response Vehicles, Communication equipment, Resources to deploy) and the establishment and sustenance of sample collection sites.

Other highlights of the meeting are as follows:

UPDATE ON ACCOUNT BALANCES

The Honourable Minister of State for Budget and National Planning reported to Council that the under listed accounts as at 14th October, 2020 are as follows:

a.
Excess Crude Account -$72,409,346.76

b. Stabilization Account -N47,193,630,556.96

c. Development of Natural Resources Account -N154,330,148,020.34


PRESENTATION ON STRATEGY FOR GROWTH OF MICRO, SMALL AND MEDIUM ENTERPRISES (SMES) AND JOB CREATION BY MINISTER OF INDUSTRY, TRADE AND INVESTMENT



Council received a presentation from the Ministry of Industry, Trade and Investment titled Strategy for Growth of Micro, small and Medium Enterprises (MSMES) and Job Creation.

· The objective of the presentation is to bring NEC up to speed on Ministry’s Term Goals and Projects and seek NEC’S support in the resolution of key challenges to achieving our goals.



· The presentation noted that part of the mandate of FMITI is to accelerate the growth of the industrial sector and enhance productivity and boost the development of micro, small and medium enterprises (MSMEs) as engine of economic growth, etc.

Council was invited to:
Establish land banks in each state earmarked for investment in agriculture and agro –processing;

Ensure fair compensation for land, standardize and ensure clarity in compensation rates in each state;
Adapt the 2015 approved list of taxes and levies;
Set up and investment promotion agency/one stop shop for investment-related issues including facilitating investment linkages
MSME Council should be set up in each states. These Councils should build a database of the residents MSMES which can be used to facilitate the integration of local MSMEs into the supply chains of large resident corporate.

PRESENTATION ON THE 2021-2023 MEDIUM-TERM EXPENDITURE FRAMEWORK AND 2021 FGN BUDGET PROPOSAL BY THE HONORABLE MINISTER OF STATE FOR BUDGET & NATIONAL PLANNING

According to the presentation, disruptions in the macroeconomic environment caused by the Covid-19 pandemic, necessitated Mr. President’s presentation of a revised 2020 budget on 28th May, 2020, which was signed into law on 10th July, 2020.

▪ The Federal Executive Council (FEC) approved the revised 2021-23 Medium Term Expenditure Framework & Fiscal Strategy Paper (MTEF/FSP), as well as the 2021 FGN Budget, on the 30th of September, 2020.

▪ In response to the developments affecting the supply of foreign exchange to the economy, the Central Bank of Nigeria (CBN) adjusted the official exchange rate to N360/US$1, and more recently to N379/US$.

▪ The projected aggregate revenue inflow into the Federation Account (Main Pool) is N6.77 trillion, while N1.70 trillion is the projected inflow in the VAT Pool Account.

▪ Out of the Main Pool Account, FGN is projected to get N3.54 trillion while States and Local Governments are projected to get N1.80 trillion and N1.39 trillion, respectively.

▪ From the VAT Pool Account, FGN is projected to get N255.46 billion while States and Local Governments are projected to get N851.52 billion and N596.07 billion, respectively.

CONCLUSION

▪ Several measures are being instituted to improve government revenue and entrench a regime of prudence with emphasis on achieving value for money. The goal of fiscal interventions will be to keep the economy active through carefully calibrated regulatory/policy measures designed to boost domestic value-addition, de-risk the enterprise environment, attract external investment and sources of funding, etc.





Laolu Akande

Senior Special Assistant to the President on Media & Publicity

Office of the Vice President



15th October, 2020

Fucking useless people you want to improve revenue and you are still paying 128billion naira to less than 500 members of the National Assembly. It is time to make sacrifice starting from the president to the poorest Nigeria. The number one priority of the commander in chief is protection of life and property yet you budgeted 403 billion naira to 371,800 men of the Nigerian Police and you want security and development. The president has failed in his number priority.

You will never win this war. Go and do your duty protection of territorial integrity you can’t even do that properly and the stupid general want to advise the president. I will only and truely believe buhari is a fool if he takes to such advice that will backfire all levels...... buratai is your enemy.

Whether they like it or not we will change the two most corrupt institution in Nigeria.
1,Nigerian Police
2, NEPA/ PHCN ...
Nigerians shall we begin

Yes, I support that 100 percent. All SARS operative should be deployed to Borno where they are truely needed. Evil against evil

Buhari and is advisers trying so much to make Nigeria explode... How will this woman be independent? What a stupid president indeed.

murmee:
It is quite possible if you ACs round the clock and if you use electric cooker!

Well i only have one AC that can powered by a small generator .and the last time I use an electric cooker was 2005 at university of Lagos
It is not event possible to have your a.c on 24/7 even if you desire that ...

Litmus:
The following is going to enrage some of you but here goes: you Nigerians have been living too free in Nigeria and have grown spoiled and entitled. Majority of you are ignorant of true state of the world. Government has been thin on the ground. In spite of SARS, Nigerians live lawlessly and have done for too long. You people barley pay taxes. You drive cars without going to driving schools, meaning majority of your driving license are forgery. You guys with vehicles don’t pay insurance. You people don’t pay for road maintenance. You people build homes illegally. Erect buildings and structure where you want. You piss and shit where you like, without police harassment, when even if facilities are absent you could still ease yourselves with a little consideration for others and your environment. When you own business you often sell unlawful stuff in an unregulated market. Regulated markets are taxed. Nigerians go into the bush and hunt animals many of them animals on the endangered list that are unlawful to kill. Chemists sell outdated meds, without penalty from the law. Majority of you are not even Nigerians for you have no evidence such as birth certificates indicating where you were born. You pay virtually nothing for fuel. The list is endless. You all owe Nigeria a great deal but this truth is drowned out in the general rabbleous and ignorant noises you make about some mystical oppression, when your true oppressors is the limit ignorance has placed on some of you minds, depriving you of the ability to see opportunities that abound everywhere in that country Although, how one is oppressed in a nation that is effectively without functioning police, judiciary or tax system – the very definition of the perfect Free State – is beyond me.

One day you people will work yourself up into a lather of such rage, you will destroy Nigeria and then you people will go and live in other nations and pay bills at a higher rate than ever dreamt of in Nigeria.

Considering the your write up, I know you leave abroad. No 2 bedroom flat can use 656 kw/ hr in the UK ie Scotland where the Temperature can fall as low as -10 degrees for over 7 month in a year. Pls England is not even cold when compared to Scotland..... so drawing a comparison without looking at the disposable income in Nigeria is like a model without no assumption...

Company or residence... for residential apartment, it simply not possible to consume 550 kw/hr if electricity .... not even a six bedroon in Alaska or Russia will consume such amount......

Prophet777:
Below is my September bill for a room and Parlour self contain, almost N30k. The minimum bill I received every month is N14, 000. I have paid for a prepaid metre yet you are unable to provide.

Everyday is for thief and one day is for the owner.

ADEGIN E A MRS / 1 ADEYINKA ADEOYE CLOSE OJODU / 0100361549
Your Bill for SEP 2020:

Tariff:B-Non MD
Rate:49.23
READ CODE
LAR:
PAR:
Consumption: 557.00
Curr.Charges: N29,477.69
Previous Balance: N133,475.43
Payment:N0.00
Adjustment:N-1,672.38
Amt Due: N161,280.74
Due Date: 18 Oct 2020.
For enquires call 017000250
Detail: eservices.ikejaelectric.com/billing/

I believe we have engineers in the house, Electrical engineers. How can a two bedroom flat consume 653kw/hr of electricity per month. I called them and demand to speak to an engineer because I believe their customer services representation will not understand what am talking about. We leave in very stupid country where we don’t apply any knowledge.. it is not possible for a two bedroom to use a 656 kw/ hr of electricity per month. Not even a 6 bedroom duplex in Alaska or Russia can use such amount.. I am very sure buhari will pay for me... AM waiting for Nepa office that will come and disconnect my wire...

The Nigeria politician are the creators of this evil sars. Ordinary police recruitment you will hear one stupid minister saying they have allocated some particular numbers to house of assembly mmembers... I once heard a police AIG apologising to a member of the National Assembly that they are sorry for the number allocated to them ....They have managed to recruit killers, thief’s, rapist and drug addict into the Nigeria police police just because they selfish and greedy... Just like in the Nigeria police, there are other security agent where this is even worst... just of recent over 500 people was recruited by the DSS from the northern part of Nigeria and 95 people for the south. No advert for such a sensitive security outfit where the best best brains in our country is expected to work. .... this are the side effect of corruption, nepotism and tribalism in every as aspect of our government....

Check it out

Check this out

During this few weeks I decided to do some little research about the Scotland Yard police and I discover something I couldn’t believe. Do you know that the prime minister of the United Kingdom does not have a control over the Scotland Yard police... This is the kind of reform we need in Nigeria. My people read https://www.ncjrs.gov/pdffiles1/Digitization/61123NCJRS.pdf
I don’t know why we don’t copy the right stuff from our colonial masters.

The truth is that majority of us bipolar disorder and we don’t know it .... it simple mean extreme happiness and sadness..

The federal government and the so called rogue who bought into the privatisation of the Power did not do their due Diligent at all before embarking on the purchase of the asset in question. I am so worried for the future of this country. This are information they should have access to before going to acquire or tender their bidding..but this is Nigeria where anything is possible and that remains the root of our problem. After six years of privatisation it now clear to them that gas price is the issue...We are definitely been ruled by useless people nobody is to be left out.
Secondly, how is possible that somebody who own 60percent share invested 400billion naira and 40 percent share invested 1.7 trillion naira.
The 40 percent is owned by the FG
The 60 percent is owned by rogue who bought asset.
For those of us who pass through the university, am sure we are hearing this for the first time..and am sure not even our professor told us this stufff can happen under any scenario.
Possible reason why this approach is been taken
1. The rogue frequents who acquired this asset bought into what they know nothing about and they are under water so the only solution is for their friends in government to bail them out.. To be frank I can’t think of any other reason reason why the FG with 40 percent share will spent 1.7 trillion naira in the name of intervention on the power sector....
No negotiations will resolve it.... the foundation is very bad.and they have spend as much 1.7 trillion naira in a building with bad foundation. To them their only solution is to increase the price thinking the people will have to bear the burden of their own mistake.... I strong believe some will pay and majority I that I know will crumble as time goes..Since it is a majority the system will fail again and we will go back again to the problem which is the foundation.

A failed Sector just like the oil and gas sector..in another 20 years we will be back to discuss about this same issue...we have always been blessed by GOD ... so there’s no reason to say GOD bless Nigeria again..

thebosstrevor1:


What do you know about being intellectual. Answer these rational questions without being biased.

Is it not true that many yorubas are looking for office job?

Is not true that many yorubas dont open businesses?

Is it not true that many yoruba men dont work, they sit at home daily because of lack of jobs?

Is it not true that yorubas laugh at those with blue collar skills?

Go to many yoruba cities, there are basically no local manufacturing created by indigenes, is that not true?

Many yorubas leave their cities to lagos to find for jobs, is it not true?

Lagos might have a seaport but most importers of goods in Nigeria are the igbo.

The hausas have a long trading history with other african countries in the sahara. Kano is like a major hub for trading in west Africa.

Even in lagos here, the hausas are driving away the yoruba women that sell pepper and tomatoes because theirs is cheaper.

Yorubas have the certificate but not the job because of the scarcity of jobs, these makes them the most unproductive among the threee major ethnic groups.

Lets look at lagos for instance

Ojota market mojor sellers are hausa.
Computer village major sellers igbo.
Balogun market major sellers igbo.
Katagwa market, major sellers igbo
Clearing and forwarding, major agents igbo and hausa.
Bureau de exchange major dealers hausa
Majority bank owners are in the hands of hausa and igbo
Oil industry in the hands of Hausa.


All these put yorubas at an disadvantage.

If you are not bias, you see that what i wrote is true

The more you look the less you see.... Foolish reasoning. They don’t have a good soil and they feed well and yet everybody want to take their money to Dubai Go and read about Singapore. England has nothing apart from cow and Potatoes yet they are leaving wonderfully well. The Swiss have no natural resoures yet they have the highest minimum wage in the world .The only country in the world where you won’t find any farm yet they are well fed and it is the financial hub of Asia after hongkong. What is the total asset value of the eastern part and northern part of Nigeria. Out of every 100 European coming to Nigeria for investment 95 of them think about the Yoruba land scape as enabling environment for investment. How many of them think about the north or the eastern part
If you think you have crude oil wait and see the price of crude cheaper than water in another eight years. Oga go and study your economics properly. The most abundant country on the surface of this earth in terms of natural resources is Zaire/ Congo yet they have nothing. You think it is all about trading and selling mumu dey ..

heendrix:


These are the words of a Man that is not wise and intellectual in every aspect of thinking and Reasoning

The more you look the less you see.... Foolish reasoning. They don’t have a good soil in Dubai yet everybody want to take their money to Dubai Go and read about Singapore. The only country in the world where you won’t find any farm yet they are well fed . What is the total asset value of the eastern part and northern part of Nigeria .
If you think you have crude oil wait and see the price of crude cheaper than water in another eight years. You think it is all about trading and selling mumu dey ..

Lauretta is a very stupid woman. For the Yoruba people on this tread, we all demand for respect yet we don’t respect Nigeria... it is the so called stupid elderly people who demand for the respect of the youth and the country have so much disrespected this country....Yoruba people normally call people like Lauretta ALATENUJE... she has eaten and she can speak the truth.