Obailala's Posts
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God help us! These men in the senate again! Seems like all they do these days is serve as a clog in the wheel of progress and their grudge may even simply be that their hands were not oiled as usual before the process was concluded. This was exactly hoe they reversed the sale of the dead refineries to Dangote and some other serious investors about 10 years ago. God knows if Dangote, Oando and co had owned those refineries for the last 10 years, Nigeria wouldn't have to import 100% of its energy as is the case today. Now Kachikwu keeps coming up with smart ideas to quickly turn the dead refineries around, the old rogues keep frustrating the efforts; this so called investigation may just as well take another 2 years, forcing Kachikwu to miss his own self chosen deadline of restoring Nigeria's refining capacity. Nigeria truly isn't ripe for a democracy. |
tuniski:No Mr Man, it isn't a lazy idea or whatever you call it, it is a FACT which cannot be wished away on the alter of politics or anything else. Nigeria has always been dangerously dependent on oil; for several decades we have foolishly discarded every other revenue earner and concentrated on oil. Bad governance through the decades also ensured we no longer have functional refineries or even power supply to support industrialisation. Today we import almost 100% of the energy (petroleum products) we use oil and we also import almost every single thing we need in the country from food to clothes to chemicals to other raw materials to toothpicks etc. All these importations require forex and we have just one source of forex - OIL! Did you say Nigeria has been most diversified since 1999?... I'm not sure I know what you mean by that or what bearing that statement has on the current argument. The fact remains that 93% of Nigeria's forex income was from oil 10 years ago, was from oil 5 years ago and is still from oil to date. You talk about the current govt diversifying overnight?.... Mr Man, kindly go educate yourself on what it takes to diversify an economy; DIVERSIFICATION = TIME x MONEY, both of which we've lacked in the last 2 years. So for you to expect something which couldnt be achieved in 20 years to be achieved in 2 years of recession, you must be living in a wild fantasy world. You talked about industrialisation, why the current government isn't industrialising Nigeria magically. Once again, the most basic ingredients for industrialisation are POWER and GOOD TRANSPORT INFRASTRUCTURE (ROAD AND RAILS). We obviously dont have both so there's no way you can expect a miraculous case of industrialisation overnight. This is the reason the Buhari intended to take a humongous loan of $29billion to instantly stamp a high speed rail network connecting Nigeria's ports and industrial centres and to instantly complete mega power projects like the 3000MW Mambilla dam; these 2 projects alone can turn Nigeria's industrial fortunes around. But of course the idea was shouted down, yet you want industrialisation overnight. You said oil price fluctuation is never a shock, then you are obviously ignorant of your own country. YES oil price fluctuation shouldn't be a shock for sensible countries with sensible leadership. But does your country or leaders fit that description?..... Saudi-Arabia with a population of 30million people had a forex reserve of $750billion as at mid-2014 when oil prices began dropping. That is what sensible countries which depend mainly on a single volatile commodity like oil do to enable them absorb the shock should there be any major fluctuations. Now let me enlighten you on how pathetic your own country/leaders are. Unlike Saudi-Arabia, Nigeria has a population of over 170milllion. We had just a little over a measly $60billion in forex savings prior to 2010. Between 2010 and mid-2014 we were blessed with global oil prices soaring to unprecedented levels. Ideally you would have expected sensible leaders to shore up the measly $60 billion we had to something more substantial (to avoid a potential shock due to price fluctuation), but what did your leaders do?... They went partying, moeting, vodkanising, ace of spading, private jetting and private yachting. But then, after the oil boom comes the oil recession, but how much forex armoury did we have left to stave off the oil crisis?... roughly $30billion. But here we are, blasting the current leader day and night for not performing a miracle, accusing him of 100% culpability, and swearing on our lives that oil crisis cannot be a reason behind our current sufferings. Like I said before, you cannot wish a glaring fact away simply because you want to win a political argument; the oil crisis and indiscretions of our leaders to prepare for it is the cause of the current economic crisis, and no matter how many times it is repeated, it still remains the relevant FACT that can never be overemphasised. |
tuniski:Between 3Q 2014 (when oil prices began to drop) and 2Q 2015, why did Nigeria's GDP growth rate suddenly nosedive from over 6% to 2.3% just before PDP bailed out?... Meanwhile we still had the world class economic management team, the PhD flaunting genius president, oil prices still above $60 and oil production still over 2.2mil bbls. With all of the above, the economy still slowed rapidly from over 6% growth rate to 2.3% within months, but you expected the 'dullardino' old man to perform some kind of miracle to prevent the already nosediving figure from dropping below the zero line even when oil prices dipped further to $28 and production fell to less than half? You may choose to place the entire blame of Nigeria's bleeped up economy on the current 2 year old administration, that's your cup of tea. But no matter how much you choose to stick with your political explanation, it doesn't change simple economic facts which reveal the pathetic parasitic dependence of Nigeria's overall economy on the forex coming from oil sales. You may choose to claim buhari is the one who destroyed all Nigeria's refineries ensuring Nigerians imported next to 100% of its energy; you may also choose to believe buhari is the reason Nigeria's economy isn't diversified, thereby exposing it to major shocks from oil. After all, Buhari campaigned to change things, so he should be able to perform a miracle which his predecessor couldnt perform even with the world class economic team and the resources. Meanwhile if you couldn't comprehend the little analogy I gave regarding 'economic shock', then you are free to keep 'ignorantly' comparing the sudden income slump of 2015/2016 to the economy OBJ inherited in 1999.
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tuniski:1. Comparing life on the streets is meaningless, we're in a recession and recessions dont just happen overnight; different things lead to recession and it unravels slowly. In otherwords, that a country hits recession today does not mean the factors/actions/inactions/indiscretions which led to it happened today. 2. OBJ did not inherit an economy in shock, so it is a very different scenario. A man earning 20k monthly may have learnt how to live comfortably on his earnings over time. But if after getting comfortable on an income of 50k, his income suddenly gets cut back to 20k, he would definitely not live as comfortable as he was 15 years ago when he previously earned that 20k. 3. When I asked for projects, I was referring to the entire country, not a single zone. |
ephi321:I've never really denied my disappointment in the current govt (even though I just dont like talking about it). I however still harbour a greater resentment for the last guys cos they had all that was needed but just chose to bungle it all up, sharing private jets like toys to the detriment of real development. I feel really irked whenever I see people painting them saints and if you notice, most of my NL political comments are in response to such 'gej is a saint' comment. |
Bizibi:E go hard and its not just right to fairly compare apples and bananas. Both regimes are extremely disappointing though. |
temodent:The Op is a known Jonathan supporter and he's actually one of the few who has the capacity to come up with good arguments and robust analysis. But then, he's a die-hard Jonathanian, so the bias is expected. |
tuniski:Northerners may have voted GEJ out based on silly ethnic/tribal/religious sentiments, but the southerners who refused to support him, how do you explain that?... The answer is that GEJ was a disaster and his performance was appalling. The sentimental issue of 'making sure another born-to-rule hausa man shouldnt take power' is the reason many south-easterners till date still refuse to acknowledge the failure of a regime which couldnt complete any single meaningful capital project and which was already borrowing to pay salaries in the first few months of oil price crash. Oh yes, you may claim the current govt is also a disaster, but when comparing the speed of an athlete with 2 legs to the speed of an athlete with 1 leg, only a joker thinks it should be a direct comparison. |
ochejoseph:You really think the oil price doesnt play any role in all of these right? With all the 'right' people GEJ had in place, are you aware Nigeria's GDP growth rate nosedived as soon as oil prices began crashing?... it had already crashed from over 6% to about 2.3% by May 2015. Even with the right people in place, I believe you also saw how the nation's forex reserves crashed progressively from mid-2014 to mid-2015 before the new govt came in and forced the forex restrictions?.... We all agree the forex restrictions destroyed a lot of things in the economy, but no one seems to have suggested another miracle which could have prevented the reserves from dropping to zero at the time; cos obviously, the 'right' things being done by the 'right people' at the time didnt prevent the steady drop in reserves. Meanwhile the same 'right' people supervised the erosion of the nation's savings and resorted to borrowing billions of dollars to offset salaries duting their last days but some people think the oil price shouldnt be viewed as a factor when measuring performance of govt. |
SmartMugu:Truth is that, Nigerians aren't really exposed to the concept of mortgages or finance schemes (since it isn't common in Nigeria); hence the report sounded very bizarre to many. For me, as soon as I sighted the title, I instantly knew it must mean some kind of mortgage scheme where the 30k may either be the initial deposit or more likely the required monthly payments. |
Funny enough, I've on several occasions on this forum, referred to Bishop Chukwuma as a PDP/IPOB bishop due to his open support for PDP and IPOB. But I'm not surprised at the outbursts of some tadpoles who now insult the Bishop and the church because the man aired his opinion which now (strangely) seems contrary to the general herd opinion. And then the Op claims it's his N20 offertory every second week that keeps the Anglican church going. ![]() |
noscarn91:For what reason exactly?... Are you okay?... Are you on some kind of hard drug or are you just a pathetic psycho or an unsupervised child who just goes around insulting people without a reason? |
...This is coming amid fears over alleged plans by security operatives to open fire on the agitators who shall be observing a sit-at-home to mark the 50th year of Biafra declaration...How exactly are security operatives supposed to open fire on people sitting at home? ![]() |
Esseite:What does he take Nigerians for?... I think he simply overestimated the literacy level of Nigerians when making the statement; he must have assumed Nigerians (at least the educated ones) should have a bit of understanding of how mortgages work. But from the hundreds of funny comments like yours which litter this thread, it's obvious he was wrong on his assumptions |
SmartMugu:On the contrary, it is millions of Nigerians that are ill-informed and who have no clue how mortgage schemes work. Unfortunately the reporter of this news didnt put the lack of knowlegde of Nigerians on mortgage schemes into consideration when reporting the story. |
noscarn91:Why exactly do you think that guy is a fool? |
ayindejimmy:Apparently, a lot of Nigerians have no clue what a mortgage is. This is evident from the ignorant comments that litter this thread. |
What's the big deal about this sit at home order?.. Anyone who feels the need to honour it should go ahead and those who don't choose to honour it shouldn't be harassed. How is this now an issue? |
INTROVERT:@Op, maybe you should add this one to your list..
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That's a freaking cobra... Lawd hav merci! |
nevilbot:There are like 1000 movies out there with a similar story; two people getting married and having to overcome family and personal challenges. This is a very common occurence in many marriages and there are countless movies out there already depicting these issues. Your assertion about Wedding Party being a rip off is very weird cos both movies are clearly different. |
Real2020:Nobody is fighting any war for anything... |
Hahaha... Politicians!... election is coming ![]() |
Agumbankembu:Thought I read somewhere last year that all the legal issues had been resolved and that the plant would be launched May this this year... www.vanguardngr.com/2017/01/electricity-geometric-power-generate-1140mw-2017-nnaji/amp/ |
We are almost at the end of May, when is the Geometric Energy plant coming on stream?.... Cos that's all a place like Aba needs to explode to the next level, constant power. |
Now I have no clue what the ecology funds are all about; but reading this entire rebuttal, I couldnt find anywhere where it stated that opposition APC states got the funds. So what exactly is the lie this guy accuses Rufai of? |
FFK has sniffed one again today... |
xcolanto:I agreed with you that there was some form of marginalisation, although it's being blown out of proportion (especially since the current regime due to Buhari's unguarded utterances). But in the whole, the only place this marginalisation can be really substantiated is in terms of appointments. For every other thing, I can prove it to you that the entire Nigeria is suffering exactly the same marginalisation except for Lagos and Abuja (which are FCTs). You talk about palliatives to save the manufacturing sector, the first point I wanted to address was that the entire forex policy and its consequence on the manufacturing (and every other sector) was NOT an intentional move to stifle anybody, stop forcefully making it look as if it is. You pointed out that it was only until months ago that forex was made available. Are you not aware that the country was (and is still) in an economic crisis occasioned by forex scarcity which in turn is a result of the oil crisis?... Forex was made available recently because there was a marginal increase in forex supply; oil prices are now stable at about $50 and the forex reserves in the CBN has now been built up to over $30 billion, hence the CBN is in a more comfortable position to disburse forex. It is always good when people educate themselves on how things work, else they just fall victims of the manipulations of selfish dubious leaders who brainwash them to believe nonsense. Oh yes, the country is still in an economic crisis and the question still remains whether to devalue the Naira massively (with scary consequences) just as economists like Sanusi are advising, or to maintain the status quo where the CBN is trying to systematically close the gap between blackmarket and official rates slowly without risking uncontrollable devaluation. Whilst this debate on the best way out is still on, it's absolutely appalling that some minds already interpret the current position of things as a deliberate plan to favour Hausa BDCs. I'm sure if the govt decides to devalue and Naira drops to N800/$1, you will still complain that the govt is useless and wicked and trying to strangle businesses of Igbos who are into manufacturing and importation. My brother, these line of thoughts are reminiscent of a person struggling with PPD (paranoid personality disorder), no matter the line of action, he reads meaning into it and interprets it as someone deliberately trying to hurt him. To summarise my point, every single thing you've mentioned are the effects of bad leadership over the years of which the consequences are suffered by ALL across Nigeria. |
NA wa oo... Anyway, waiting for the other side of the story. |
xcolanto:I always like to view issues from the other perspective, hence I totally do not agree most times with general beliefs no matter how long it has been peddled. The Hausas hate Igbos so much and would kill even their own brother who as little as smiles at an Igbo man; that is not in doubt. But while there is a sort of Igbo marginalisation in existence, what we see today is majorly a thing of the mind and this paranoia is exactly what has kept the Igbo nation down for ages. Firstly you claim policies were made against importation to strangle Igbo businesses, this is a very perfect example of the paranoid mentality which keeps ruining the minds of Igbos. Take a look the chart of Nigeria's foreign reserves below: https://d3fy651gv2fhd3.cloudfront.net/charts/embed.png?s=nigeriaforexcres&v=201705041727u&d1=20140726&d2=20160826&type=type=column&h=300&w=600 http://www.tradingeconomics.com/nigeria/foreign-exchange-reserves From the chart above, you can see how rapidly Nigeria's reserves dropped when oil prices began dropping from mid-2014. Do you know what happens to an import dependent country when it runs out of reserves?... If you go study the Venezuelan situation, you will definitely not swallow the story that forex restrictions were done to punish anyone; only a paranoid person would study the Venezuelan situation and still return to say forex restrictions was a strategy to target him. I personally do not believe in the marginalisation theory which has been peddled since I was born; as a matter of fact, every single thing which the SE lacks today and which is termed as marginalisation, every other zone in the country lacks them also; the only exceptions being Lagos (former FCT) and Abuja (current FCT). For the current administration, the only area I see a clear marginalisation is in terms of appointments, something which to me is totally useless when we consider how the numerous appointments did not help the SE zone in the last regime. If you disagree with me, kindly point out the areas of marginalisation you know and I will explain my point. |
xcolanto:The Igbo nation is as big as the Yoruba and the Hausa nations. Firstly, it is a shame, and an embarrassment for the Igbo nation to keep crying for several decades that it is being marginalised by its 'classmates'. Power is not given, it is taken, and nobody struggles for power, takes it and gives it on a platter of gold to another. The only way the Igbo nation can attain political progress in Nigeria is by playing the game being played by its MATES; i.e. playing superior politics. But it seems each time, the Igbo nation plays a wrong card which backfires, and then the shameful cry of 'they are bullying us' continues. A classic example was the last election when the entire Igbo establishment suckled to PDP and PDP lost. FEw Igbo men who joined APC kept begging for support screaming at the top of their voices that 'assuming PDP loses, the Igbo nation would lose a lot of political relevance', but those few Igbo men were discarded as 'ndi fulefu a.k.a efulefus.' But at the end, their exact fears came to pass. If just 25% of the Igbo political establishment aligned with the APC prior to 2015, the Igbos would have held some political clout in APC and in Abuja today. But it was a result of our bare faced political miscalculation. |
Masterclass32:Useless politicians!... Always fanning the embers of discord for their selfish political reasons. Now PDP had been in power for 16 years and Reno can his boss sat in power for 5 good years when Nigeria made more revenue than every other Nigerian regime combined. Now can Reno kindly point out what he and his boss did for the SE zone besides appointing plenty thieves to just go fill up their private pockets and oppress others?... After all the noise made about resuscitating the Enugu airport, did they not embezzle the billions meant to fix the runway?... Today the runway is still riddled with potholes and international airlines have refused to land there but APC is to be blamed according to the mocker. I wouldn't even want to go into details of the PH international airport which is barely 30 mins from Aba (PH airport is closer to Aba than abuja airport is to abuja), the only international airport in the SS zone where Reno and his boss hail from. By the way, Aba does not need an airport as prove for anything, if the short road linking Aba and PH can be fixed, and if the PH airport can be fixed, ABA DOES NOT NEED AN AIRPORT. But can someone remind us of the state of PH airport even when Reno and his boss ruled for 5 years with all the revenue in this world? Now regarding airports in general, the FG hasnt being in the business of building new airports in a long time. An international airport was built in every zone in the country, all other airports built are by state governments, if the state governments of Anambra and Abia have refused to build airports, how can this be used as an example of marginalisation?... so who then is marginalising who exactly?... Why cant we just exercise our brains by sticking to only the meaningful arguments?... I'm sure some slow brains would soon come attacking 'Obailala's Igboness' because of this comment. raker300:In defence of Amaechi regarding rails, leadership is a continuum and current railway masterplan wasn't drawn by him, Amaechi only inherited a railway modernisation plan from his predecessors and the last I checked, it was Reno's people who decided on the current railway map. Now the fraudsters are conveniently playing on the gullibility (or should I just say intellectual blindness) of the people by playing the ethnic card to pass the blame to the 2 year old APC govt still struggling to come out of recession. Meanwhile the last time I checked, the rail modernisation plan passes through Aba (I'm not sure why you chose to ignore this known fact). |
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