₦airaland Forum

OPCNAIRALAND:
This is a very solid point that no one can dispute. Likewise no one will dispute the fact NOI is the best brain, of any male or female, ever produced from SE to serve the nation.

Obj has clearly articulated a defining piece and the OP, as well the rest of you SEasterners, agree in your remarks and reinforced inputs with the general Yoruba summation that people of South East are ineffectual in positions of authority and leadership command, from the best of them to the worst of them.

Left unsupervised, their humanity soon dissapear and their basic instincts take over and produce chaos and ruin that start with them then spread out and consume everyone. A SE must be supervised by a non-SE to bring the best and their humanity to surface.

NOI is a poster child for both a best brain out of SE and a call for SEasterners' need for supervision.

Some human minds are just too shallow that they are only capable of seeing things from the ethnic/tribal/religious perspective. It's a shame, grow up man!

TonyeBarcanista:
As Coordinating minister of the Economy under Jonathan, Iwaela was mthe defacto prime minister. Under her watch, the oil price was at all time high but nothin came out. Reserve was depleted, ECA was depleted(thanks to Govs), yet we had no infrastructure on ground to boost our economy. NOI kept rollin out figures and statistics that had no reflection in reality. I think she should be allowed to rest.

As for Adeosun, I think she isn't fit enough for the job of finance minister. Maybe she assume that her british tongue is enough to handle Nigeria economy.


I'll sugest that Buhari hire the former commissioner of finance that served under Tinubu or any home-grown professional.

OBJ made a very good point, NOI has her weaknesses and she needs a very focused and discipline boss to cover up those flaws. Are you aware that in every area where NOI failed under GEJ, it was the exact opposite when she worked under OBJ?

All the achievements which gave NOI her fame was achieved when she worked under OBJ, from digging Nigeria out of the mud and placing her on the world economic map, clearing off debts in billions of dollars, increasing the nation's savings/reserves by over 1000% at a time when oil prices were lower, pushing Nigeria's GDP growth rate from 2% to a record 6-7%, creating a robust middle class etc. It's obvious she's good at what she does but she needs to be managed by someone strong, obviously not a GEJ, cos she apparently reversed all her achievements when she worked with GEJ.

centvin008:
The Minister of Transportation, Rotimi Amaechi, said on Friday that the Lagos-Kano Rail project would be completed in the next two years.
Amaechi, who said this while inspecting the Abuja-Kaduna rail project in Kaduna, added that, it would generate employment for 250,000 Nigerians.
He said the ongoing rail project from Lagos-Kano and Lagos-Calabar would generate more employment than the Abuja-Kaduna rail modernisation project.
He further stated that a training institute would be established by the Chinese company to train Nigerians on operations, maintenance and communication.
“For the Lagos-Kano and Lagos-Calabar rail project, we expect to generate like 250,000 employment opportunities both formal and informal.
“We are negotiating with General Electric in America to construct a narrow gauge from Lagos to Kano and they cannot run that without training Nigerians.
“If the communication system goes down how do we revive it, so they would also teach Nigerians how to maintain it.
“If we want to replace it, how do we replace it, so the key thing is transfer of technology and that will be the focus of the ministry.”
He said government would ensure that the rail service was affordable for the masses.

http://www.pmnewsnigeria.com/2016/02/19/lagos-kano-rail-to-generate-250000-jobs-amaechi/

Narrow gauge?

TonyeBarcanista:
@LRNZH

Tell me who copied who? I published my article on February 17, 2016 and it went viral....
https://www.nairaland.com/2940208/setting-record-straight-pdp-chairman


Your BT link was published on February 18
www.thebreakingtimes.com/exclusive-ali-modu-sheriff-as-pdp-chairman-a-blessing-or-a-curse-by-jude-ndukwe/



I think you owe me apology and you need to modify your post. Otherwise, I will refrain from holding conversation with you. To let you be.....



Cc: Engineerboat, PRYCE and Modath!

It's funny how people misjudge situations like this. Obviously because BT is a 'news' website, then it automatically means 'Barcanista must have copied from them.'

A few days ago I made a comment here on NL on the state of the economy just before GEJ handed over. 24 hours later, I saw exactly my own words copied and published on a website/blog, but the difference was that my statements were reported as a being said by Buhari. I was more than shocked

Vicboi1:
What do u expect when the governor that can not give a conducive environment to the investors what investors needs are good road infrastructure and a good working environment but Imo governor as a bastard as he is he us only interested in money he doesn't care for the state every time he is always travelling from one place to another without anything to show I wish he dies there

Did you just blame Rochas for Iheanacho siting his investment outside Imo state?

yommyss01:
Where were you when igbos ( mostly them ) were busy twisting the words of PMB?

So it pains now when it is done to an igbo?

Sometimes we need to separate politics from the overly sensitive topic of tribe and ethnic division. Aren't you already tired of the backwardness which ethnic division brings to Nigeria?

yommyss01:
Just like the igbos ( don't know if you are included ) twisted Buhari's word re the sharia thing right? Just like they did on his statement about Abacha's loot?

It's very common for people to twist words, journalists sensationalise simple statements a lot to attract attention and viewers. If even professional journalists do it, then you can imagine what we should expect from every emeka, adamu and tunde who can just open a silly free blog and start spreading 'news'

ENDTIMELIFE:
The naira tumbled further significantly at the parallel market on Thursday, hitting 391 against the dollar as foreign exchange scarcity continues to batter the economy of Africa’s largest oil exporter. The currency has entered a free-fall mode against the dollar at the black market, having lost 26 per cent of its value in less than two weeks. The naira had exchange for one dollar at 372 on the streets of Lagos, Abuja and other major cities on Wednesday. The local currency, which closed at 310 against the greenback last Monday, has been falling consistently and significantly in the past 11 days. Forex dealers and financial experts linked the persistent fall of the naira to panic buying of the dollar and other major hard currencies by importers, individuals and businessmen. Bureaux De Change operators in Marina, Ikeja and Apapa and Abuja told our correspondent on Thursday that there were no signs yet that the rising demand for forex especially.

www.punchng.com/naira-slumps-391dollar/


Chai Apc don finish naija. we enter one chance true true

plz where's oga Jona ?

Trending amongst bleedy Jonathanians init?

These are pictures of Cameroonian troops, several people already pointed this out yesterday; I wonder which NL MOD has put this on the frontpage.

Just recently, someone was asking a very silly question why the rail track were being fenced. RIP

Godsonkemz:
The past administration relied on expertise such as Ngozi Okonjo Iweala, Adesina, Prof Nebo, Onuyebuchi Chukwu among others while the incumbent government relies on incompetent party loyalists some of which have heavy load of money laundering allegations still hanging on their neck.

What was the result of that expertise at the end of the day?... Did that expertise not land Nigeria in the mess it currently is in?

https://www.nairaland.com/2943301/incompetent-ministers-president-muhammadu-buhari#43061399

Isn't it funny that some think the Finance Minister is incompetent because value of naira is falling? And the person who thinks in this manner thinks he's making any sense?

I will attempt to make a little case for the finance minister. When we had a world renown economist in the person of NOI as our Finance Minister and Minister for National planning, what happened to our economy immediately crude prices started crashing?

between October 2014 and May 2015 (when GEJ handed over):

(1) The Naira fell from N166/167 to N220 to $1, meanwhile oil still sold at about $65/barrel as at May 2015.
http://abokifx.com/previous-rates-2/

(2) The nation's foreign reserves dropped from ~$38.5bn to $28.7billion, that's a drop of about $10billion in 7 months, with oil still selling at about $65/barrel as at May 2015.
http://www.cenbank.org/intops/Reserve.asp

(3) Nigeria's GDP growth rate which was maintained at an average of 6-7% suddenly dropped to its lowest since 1999 of 2.3%.
http://www.tradingeconomics.com/nigeria/gdp-growth-annual

(4) Due to a severe cash crunch occasioned by fall in oil prices, the Nigerian government had to borrow about $2.4billion dollars early in 2015 to pay salaries. The FG could not also pay accumulated arrears of fuel subsidy since August 2014 to petroleum importers (this led to the fuel scarcity in May 2015 just before the handover and Lai Mohammed also blamed this owed fuel subsidy as the reason behind the fuel scarcity late last year)
http://www.vanguardngr.com/2015/05/nigeria-borrows-to-pay-salaries-with-cash-crunch-worsening/
http://www.channelstv.com/2015/12/21/lai-mohammed-blames-fuel-crisis-on-past-administration/

All of the above happened right under the nose of a world class economist as the finance minister even at a time when oil was still selling above $65/barrel; today oil sells for about $30/barrel.

Now we have a relatively unknown finance minister managing the economy with oil selling for less than half of what it sold for as at the time a world class economist handed over. The FG has not had to borrow to pay salaries, it bailed out the states and even paid off subsidy arrears owed to oil importers since the days of the world class economist. Furthermore, the FG has been able to maintain virtually the same forex reserve that it inherited till date; remember the world class economist sanctioned the crash of the nation's foreign reserves ~$10billion in 7 months of oil price crash. Only God knows where we would have been by today if that trend continued unabated.

And here we are, about to crucify the new finance minister for being incompetent, obviously because her name is not being mentioned here and there on CNN. I personally do not know who Kemi Adeosun is, I don't know her pedigree, but I think it is misplaced and outright silly to judge her capabilities at this time.

The naira may drop to N1000 to $1 tomorrow in the black-black market, but the fact remains that that amount doesn't really represent the true value of the Naira. The super-high black market value today is due to a deliberate hoarding of forex by the FG/CBN in order to deprive/discourage Nigerians from their thirst for foreign goods and foreign leisure trips; the actual value of the Naira at the moment should be in the range of N260-N280.

TippyTop:
It's $1-N400 tonight, our currency is rivalling that of Zimbabwe.

Where are Sai baba crew, I wonder why y'all have gone silent.

I the real sense, it's actually still N199 to $1. At most if the currency control is removed, it would be N280 to $1 which represents the 'real' value of the naira currently. The N400 you buy it from the street is the black-blackmarket price because the CBN deliberately wants to deprive/discourage you from buying foreign currencies. The N400 is not the 'real' value of the naira.

More of this needed, there's no reason why Nigeria should be one of the largest producers of tomato, yet we import most of our tomato paste. It's really sad.

Ramnon2:
Another foolish Igboman goes to develop and enrich SOUTH West. Don't even tell me about nearness to raw materials (Economics 101), as there are no tomato farms in Lagos. There are no motor raw material parts in Anambra/ Enugu, yet Innoson is producing from there. So there is no excuse for Umeofia.
These types of Umeofia Igbos - and there are millions of them- are doomed until they start asking why other rich private Nigerians are not investing in Igboland as they (these Igbos) do in other parts of Nigeria.

I agree with you ipobs on this one, he could have easily sited this in the east to create jobs/revenue, access to raw materials couldn't have been an excuse on this one. But even at that, you have no right to insult him, it's his money and it's his call. I'm sure he has his reasons. Learn to live and let others live.

Chidinma should be very careful or else, she might just be the 3rd baby mama on the queue; and then all her crushes would finally break Flavour's head

Good

First of all, for all those commenting seriously above me, I hope you guys know it's only a spoof OBJ twitter handle?

But then, the tweet is mad funny

But what's this bushmeat topic doing in science/technology section?... MoDs I hail!

An insult on IPOB sect members or some of their crude ideologies/methods is not an insult on the Igbo tribe.

Lol.. bad market

IkennaNweke:
Exactly five months ago, I did a post on our dwindling revenue, falling oil prices, glooming economic forecasts and why the then fuel scarcity might persist till December. Those who said they were for Nigeria and the only patriots did what they knew how to do best: Sam is bitter because someone lost election.
Today, with inflation at an all time high in TWENTY-NINE YEARS, I guess both WAILERS and PRAISERS are feeling it. We buy from same market. In fact, in same family, you have wailers and praisers. And never will I join the charlatans who insult President Buhari. Never. He was not responsible for this. His supporters were:
1. On June 12, 2015 I noticed a trending news on social media that Buhari has completed the TAM of Port-Harcourt and Kaduna refineries. A lawyer friend nearly fought me. I made him realise that even our Lord Jesus Christ can NEVER do a TAM on refinery in three months not to talk of two weeks. The guy wont budge. Guys, that was the beginning of the term, BODY LANGUAGE. They said okay, the president's body language was responsible.
2. The electricity. Because of our usual raining season, light was available in some areas and due to availability of gas, our compatriots started saying the president's body language was responsible. As dry season sent in and oil revenue plumetted, power dropped. Where is body language?
3. A lady said in April last year that if Buhari did not bring back Chibok girls by June, I should stop talking to her. I said terrorism is not a conventional war. She told me I was a PDP apologist. One man who regularly comes to this wall reminded me that Buhari routed Maitatsine in 1980. He will do it again. Today, Boko Haram is becoming more daring. You don't defeat terrorism by words of mouth.
4. We are about spending savings from pension funds saved by the last government. Yet, the same government said it had recovered TWO TRILLION NAIRA from looters. If you have that kind of money, then the country does not have to borrow. N2trn is entire budget of about TWELVE states in a year.
5.The president during the campaign said he would make 1 dollar to 1 naira. Many of us believed. Even my 12 year-old daughter knew that was not possible yet, Master degree holders believed it!
My Take:
Propaganda wins elections and works the crowd. But it does NOT run government. It is about what you CAN do. Governance is about what has BEEN DONE. It is there to see for everybody.It is tough. Buhari inherited a difficult economy and to worsen matters, revenue dropped when he came in. But those who keep saying he has one magic wand somewhere to turn things round are HIS GREATEST ENEMIES.
Copied from a friend's Facebook page.

1. It was never reported that Buhari or anyone carried out TAM on any refinery; even Buhari himself denied that he did anything when he was asked in an interview. So it is not anyone's fault that your friend (who wrote this on facebook) chose to seek his info from gutter sources.

2. Power improved a bit in the said period because gas supply was stabilised and of course, it was also rainy season. Oh yes, body language worked a bit there because those responsible for these services were still weary of what a Buhari presidency would entail. Unfortunately, the fear of Buhari seems to have died down with time and things are getting back to normal.

3. Right, terrorism is not a conventional war, since those girls weren't rescued within the first one month, the chances of them ever being rescued is low (but not zero). Furthermore, Bokoharam is not being more daring as claimed by the author, their abilities have been greatly decimated. But being an unconventional war, isolated bombings here and there may never stop.

4. Nobody said they recovered 2 trillion naira from looters. Once again, people should stop gathering info from gutter blogs. TSA funds are not looted funds, they are only government funds deposited in multiple accounts but which are now put in a single pot. The funds belonged to different government agencies and still belong to the same diverse government agencies. TSA funds are not disposable cash which the FG can just dip its hands into, so yes, the budget cannot be funded with it.

5. Buhari never said he would make $1 = N1, Buhari only lamented the fallen value of the naira, but obviously it is only pained losers that hold on to this false report.

Elections are over, it's time for some of you Buhari haters to understand that Buhari is now the president and peddling lies and distorted info would not in any way help your ministry, neither would it remove Buhari from the presidency before 2019.

nacosprof:
u shall eat from ur enemy's pot,.say Amen GEJ matter will purge u

Lol... did GEJ do it with his personal money? What makes it GEJ's pot?

Did GEJ not inspect projects by his predecessors? Did it purge him and did anyone complain? Are you advocating for every project by past governments to be abandoned (because by your logic, it would mean "eating from your enemy's pot"?

Jonathanians, ndo!.. Una childishness dey epic.

See ass body just dey bite all these Jonathanians

What's revealing about that outfit under the scorching Nigerian sun?

lacicrips:
Well said, but I think Nigerians want to see change first before accepting any form of increment. These people are only thinking about turning in profit. Won't be surprised if after increment, its business as usual. First fix the damn light first, then we'll be happy to pay more, even 100% increase.

No business works that way, no business man will provide services for free. With the removal of fixed charges, any argument about "improving power first" or "not wanting to pay for service not rendered" is invalid. The only valid argument is for the provision of prepaid meters first.

westluska:
It is a shame that these business men bought these discos hoping to service it with customers money. What happened to loans in banks? Will MTN increase tarriff so as to improve their services? They have to improve services first by investing heavily, overtime they'd recoup these monies...Nigeria has a very large market.
I concur with you on the pre-paid meters but most importantly, they should invest with their own resources not milking their customers.

The truth is, whenever you privatise, prices go up, and the prices will remain up until the private investors settle in properly and start recording profits before any price reductions can take place.

The MTN example you gave is a very viable example to also buttress my point, when MTN came into Nigeria, they sold sim cards for over N30k and customers had to pay N50/min (no per second billing) for some of the poorest telecoms services in the world then (hopefully you haven't forgotten that in a hurry). The story has changed today because of favourable competition. In the power sector, Nigerians will never be able to enjoy uninterrupted (or reasonably stable) power supply if the power sector remains in the hands of the government. And the only way the privatisation of the power sector can work is an upward review of tariffs.

In my opinion, I have no problems with an increased tariff especially as fixed charges have now been removed. It would force the power companies to ensure they provide power and it will also force Nigerians to learn to conserve power. The only problem I have with the whole process is the unavailability of prepaid meters.

EastanPower:
Is that why SE gets 29b and SW gets more than twice that amount of 88b

Bro, everything in life mustn't be seen as a competition. This is just the first out of 4 budgets to come, we still have the 2017, 2018 and 2019 budgets. The budget for the SW dwarfs every other region because of the priority given to the Lagos-Ibadan road. Priority was given to that road for 3 main reasons, it's the busiest road in Nigeria (in terms of vehicular traffic), it's the most economically viable road in Nigeria (given that it leads into and out of the commercial nerve centre of Nigeria) and its construction is already ongoing and at an advanced stage; the idea is to complete already progressing contracts instead of littering the nation with incomplete projects.

Once again, this is just the first out of 4 budgets to come, we still have the 2017, 2018 and 2019 budgets.

Best of luck in your future endeavours!

Iroh88:
Seems Nigeria is weathering the storm a lot better than other oil dependent countries, yet PDP supporter no go let us see road. Imagine hiking the price of petrol by over 60% in today's Nigeria!!
Putting this into perspective, they hiked the price to over 300Naira.
Cc: Lalasticlala, Mynd44.

Op thats actually 6000%

Sometimes I keep wondering what will happen in Nigeria is we finally succumb and devalue, petrol prices will suddenly skyrocket to about N140/litre and it's either a massive protest starts again across the nation or the FG will be forced to resume payment of subsidies. Obviously the price of all imported commodities from rice to tomato paste will also double. God help us!