₦airaland Forum

Msteew.
You neva tell us how you go print dollars

I see someone wailing. They have blocked your thieving avenue.

NIGERIA

.

While they are busy finding oil or fighting over oil, can they please leave us alone to be on our own to find knowledge.

Rayhutar:
In 1910 Lagos is under colonization and Lagos is a capital of southern Nigeria, the white use money realized from coal in Enugu, Palm oil in eastern Nigeria, Cocoa sw,Rubber and tax to develope lagos from 1850`s when they gain full control of Lagos after forcing the Bini empire to surrender Lagos, the Binis also help to build when it was under their control before the coming of Europeans.

FACT
in 1910, the British week still cutting path into the bushes to in order to find your naked folks

Rayhutar:
It is obvious that don't know much about Lagos. Before the coming of White colonizers Lagos was a colony of Bini empire, so the influx of people stated way back before 1920, the British too Lagos from Binis and stated developing it from 1845 to 1960. The FG continue from the white with oil boom of 1970's till 90's when capital was moved to Abuja. Lagos still receive the highest allocation from ND oil sales.

Pfft. Yeah right. The Benin empire jumped over the warrior ijebu Kingdom and the egba Kingdom. Then established a Kingdom in lagos right under the nose oyo empire whose influence went as far as the outskirts of the present day ghana

yanshDoctor:
Lagos was develop with Niger Delta oil. its now very clear to us all. now we decide to back our oil. the whole country is own it knees. and yet you guys don't respect the contribution so far from the Niger Delta. by the time we declared Niger Delta nation. Lagos economy will be grounded.

Lagos was not developed with Niger delta oil.
1910 lagos when most tribes were still running around naked in the bushes

This is not London. This is lagos with 24hrs electricity, telephone lines,trams and water all paid for by the tax payers of yorubaland ( most especially the egbas, ijebu,Brazilian returnees and traders from within the yoruba hinterland.

If only time travel exist. Postcard perfect

onnenka:
Typical Yoruba chest beaters. Even Egbin power plant right there in Lagos is dependent on Gas from Delta state. What useless imaginary gas do you have in Lagos?

Dependent because obasanjo changed it from a coal fired to gas fired powered.
The same way he converted egbin is the same way we will either look for alternative source of gas or convert it back to coal.
Coal is very cheap today.

We can all see that he was paying subsidy for invisible petroleum products through our competent world Bank clerk.

1 How come consumption dropped by a staggering 1/3 before Buhari even removed subsidy ?
Did Jonathan not partially remove subsidy?
What happened to the money saved from the removal?
Wait, he expanded his corruption to consume those savings.
The best thing occupy did was to resist legally handing a criminal government more money to steal and waste.

2 Out of $500 billion earned, a road which could have been repaired for less than $1 billion ( the entire length from Port Harcourt) is all you have to flaunt.

3 Obasanjo built no universities . Maybe obasanjo has more sense and knows that the already stretched federal government should not go too deep into tertiary education beyond funding research.
Perhaps, the 15 solid private universities in ogun state alone who offer superior products than Jonathan's rubbish,are indication of superior intelligence and policy
Obasanjo did not build globacom or MTN either. But you have a mobile phone to type this rubbish.

4 The certificates from those mushroom and glorified secondary schools will go straight to the bin of the human resources departments of serious employers that I know.


Jonathan is not fit to clean obasanjo's toe nails.
Since Nigeria was created, the only president who has contributed anything better than or equal to obasanjo, whether policy wise or physical infrastructure was Murtala Muhammed.
Only the two of them handed over a country in good shape and health. Buhari also left the country in better fiscal shape than when he overthrew Shagari but his 9 month wax too short.

Re-escaping poverty.

Just bring it to the SW. There is gas in lagos and gas is being flared along the borders of badagry and Benin Republic
Honestly pity the Urhobos. They have been stuck in a rot since......................
There is no future in oil. The future belongs to those with knowledge and the liberal disposition to life.

obongtunji:
Your post doesn't make sense at all. Assuming south-west has a country of its own, does that mean Diamondback, First Bank, GTB and e.t.c will close down there operations in the south-west?
Does that mean Dangote will stop the ongoing refinery? And as well close down it industries in Lagos?
You mean Erisco Foods limited will shut it's operation after using millions of naira to establish it's Tomato processing factory?
You all those factories in Lagos will just close down? So you mean ship will no longer offload at the Lagos seaport but will rather offload at river Kaduna seaport and Imo river seaport?
Believe me you need a heavy slap that will send your brain to factory setting because I don't think you understand what you have just typed.

Honestly speaking an independent yorubaland does not need those kind of investments in lagos. We simply need to go back to one factory towns and settlements like it used to be. Manufacturing is for the hinterlands.

Lagos and most of our coastline in Ijebuland,Ilaje and our cousins in Itsekiri land are ripe for tourism.
The reason why it is not feasible right now is the elephant in the room.
That elephant is NIGERIA with her Boko-haram, Islamic fundamentalism, Militants,Kidnappers and the general intolerance for the liberal values of the children of Oduduwa

Nope
I will have to agree that Lagos is shitty today because of one Nigeria.
The influx of people brought the destruction of the serenity of Lagos, the peace,the decimation of her liberal values, the lowering of her IQ and more
Give me the lagos of the 1920's anytime.

The worst say in our yoruba history( 3rd picture shows the day we were amalgamated)

4th : idumagbo in 1910.

Blast from the past from intellectual yorubas not taking shit from the colonial which also show that yorubaland looks towards the western coast of africa.(1910)

While travel was sometimes a locus of racial and social inequality—the newspapers reported, for instance, on a case in which Lagosians were forced into lower class train carriages to make way for Europeans travel also enabled Lagosians to build alternative or parallel networks, circumventing colonial spheres of influence. New opportunities for fast and comfortable travel helped develop existing connections across the West African coast, so that coastal towns in Sierra Leone, Liberia, yorubaland and the Gold Coast were often tied politically and intellectually more closely to each other than to their respective hinterlands . Newspaper editors and writers from across the West African coast met, circulated each other’s newspapers, reprinted and quoted one another and reported each other’s travels

I am always interested in people's definition of development, developing and developed.
Because from my experience of simulating settlement,civilisation and economies,most especially from historical records, development is less of physical and more of the intangibles on which the physical is built. Like law,order and the administration of justice, community,charity and cohesion and fairness,civic responsibility and traditional institutions,governing institutions,critical thinking education and communications and lastly, the infrastructure to keep up with a growing population as the settlement grows into a city.
The "Us and Ours" and not the "Me and Mine".
Every other thing is just a response to needs.

bskyb:
Budget during GEJs tenure was an average of about 4 trillion, including provision for subsidy. It follows that about 20 trillion naira was budgeted and spent during that period. How can we account for the difference between earnings and spendings.

We shouldn't forget to add the monies borrowed to finance budgets as well.
As much as it may be difficult to accept, perhaps sanusi was right about the missing money

Most of the money did nor make it into the budget

They can keep Bode George over there. We will be happy to add Odumakin, Agbaje, Fayose, Akala and mimiko

Who exactly is attacking Abuja from the air?
Unless there is something else we do not know.

Prof Sam Aluko

Failure to Plan for Economic Growth and Peace

It is often said, and wisely too, that, "no one plans to fail, but many fail to plan." This is exactly what is happening in most countries in Africa today. Let me use Nigeria as a veritable example.

When the British Empire was in control of the politics and the economy of Nigeria, it encouraged and instituted "Development Plans" for the economy. The first was the Ten-Year Development and Welfare Plan, 1946-55; followed by 1955-60-62. When Nigeria became independent in 1960, it still continued with the 1962-68, 1970-75, 1975-80, and 1980-85 Development Plans, but with diminishing commitments to planning. The Colonial Plans were mainly designed to ensure a more coordinated harnessing of the vast Nigerian natural resources for British interests, manufactures, and commerce. Marketing Boards were established for cocoa, rubber, palm produce, cotton, and groundnuts, among others, and Government Corporations were established for the vast mineral resources of Nigeria, for energy, and, later for petroleum oil.

But as the hold of the West became less and less on the Nigerian resources, the economists and the political powerbrokers of the West began to adumbrate consistently and with manipulated statistics, that the Marketing Boards were exploitative of the local farmers; that the corporations were a restraint on trade and efficiency; that the public-sector management of the economy was corrupt and undesirable; and that the government "had no business in business" but should deregulate and privatize the boards and the corporations.

In 1986, the IMF/World Bank succeeded in convincing the then Nigerian military government into adopting their Structural Adjustment Program. The Marketing Boards were disbanded; public enterprises were deregulated; government intervention in the economy became discredited; monetary and fiscal policies of government were relaxed, and the free traders took over the reins of government. The result was that cocoa production in Nigeria fell from about 400,000 tons a year in 1986 to 150,000 tons in 2000, and the production of cotton, groundnuts, hides and skin, rubber, and palm produce decreased to between 25% and 35% of the 1986 level. Coal production fell from 360,000 tons in 1980 to 19,000 tons in 2000. Per capita income of Nigerians fell from $760 per annum in 1985 to $360 in 2000. Food imports replaced food exports. The value of the naira, Nigeria's currency, fell from N1=$1 in 1985, to N115=$1 today, at the Central Bank exchange rate (Table 1).[FIGURE 11] Black marketing in the nation's currency began and grew since 1985, to become N140=$1 today.

The IMF/WorldBank and their Western sponsors have now stated, with the approval of Nigeria's Central Bank, that the naira is even overvalued at the existing rate of exchange. The IMF has pencilled the naira at N550=$1 as its real market rate of exchange. Ghana, whose cedi was of the same value as the naira in 1980, now has the exchange rate of the cedi at 6,750 cedi=$1. Ditto in almost all the countries of Africa.

The foreign debt overhang in Nigeria increased from zero in 1960, to $1 billion in 1979, $11.5 billion in 1986, $33.2 billion in 1990, and $35 billion in 2000—about $18 billion of which was the current accumulated interest. In actual fact, Nigeria borrowed about $17.5 billion between 1979 and today, repaid about $33 billion during the period, and is still owing $35 billion. Nigeria's debt is, today, estimated at about 82% of its Gross Domestic Product.

The IMF/World Bank, the Paris Club, and the London Club of Creditors (the Paris Club is the same creditor countries when they act as governments, as the London Club countries when they act as bank lenders), have involved Nigeria, like other African debtor countries, in debt-rescheduling, debt conversion, debt-buyback and deferred payments; all of which had exacerbated the debt burden, rather than debt relief or debt cancellation which the Nigerian governments hoped would be granted, if they continued to follow the prescriptions and the economic dictates of the creditors. As Nigeria became poorer and poorer, its leaders became more and more criminalized; lost more and more confidence in themselves and in the economy; and increased the keeping of their wealth, much of which was stolen or taken from the economy, in the banks, or invested it in the economies of the West, with the active encouragement or connivance of the West.

Nigeria is now being propelled to democratize as a way to economic recovery. But with every passing day since the military was replaced with a "democratic" regime in May 1999, the life and living conditions of the average Nigerian continue to deteriorate, with the hope of an economic recovery becoming more and more distant. But our government continues to follow the dictates of the West, with privatization, deregulation, liberalization, minimization of government involvement in the economy; retrenchment in public-sector employment; belief in a private-sector-led economy, even though the production sector itself is depressed, functioning at about 30% of its executive capacity, today, compared with 75-80% in 1985. The rate of interest has risen to 50% per annum, when the rate of return is less than 1.015%, if the products are sold at all, since the purchasing power of consumers has considerably reduced. The result is that Nigeria is now flooded with second-hand goods, low-quality or fake products, dumped and heavily subsidized foreign goods, from toothpicks to the most sophisticated equipment from the West and Asia. These further depress the few surviving industries in Nigeria and send them out of production. In 1999 alone, over 4,000 small and medium enterprises folded up in Nigeria.

The catalogue of economic woes can be multiplied ad infinitum in Nigeria. Yet, Nigeria is still regarded in Africa as one of the few resilient economies that are surviving the onslaught from the West.

OjukwuWarBird:
Pls enlighten me. Which state is Prof Sam Aluko from

Ekiti

Olu20090:
Well said. As soon as Igbos left the management of the economy, everything went south. What we have today are below average Yoruba and Hausa-Fulani running things in the name of cyronism and nepotism, practically destroying everything that Igbos economic managers built under Obasanjo and GEJ. Even under Abacha...is economic team was nearly all Igbos, did a remarkable work that no administration has been able to match.

Who were the so called economic managers?

Obasanjo ran his government by the sheer force of his will.Obasanjo was already doing his thing before he employed anybody.

The brain behind Abacha economic managers who gave him the backbone to withstand the sanctions was Professor Sam Aluko.

Just another proof oh how Jonathan developed Nigeria and transformed the society

Good way to fight kwaraption. The records say something completely different.

1 EFCC Arrests Jonathan’s Cousin Over $40m Contract Scam

2 $2.2 billion illegally withdrawn from Excess Crude Oil Accounts,of which $1 billion supposedly approved by President Jonathan to fund his reelection campaign without the knowledge of the National Economic Council made up of state governors and the president and vice president.

3 NEITI discovered $11.6 billion was missing from Nigeria LNG Company dividend payments.[46]
60 million barrels of oil valued at $13.7 billion was stolen under the watch of the national oil company, Nigerian National Petroleum Corporation, from 2009 to 2012.

4 NEITI indicates losses due to crude swaps due to subsidy and domestic crude allocation from 2005 to 2012 indicated that $11.63 billion had been paid to the NNPC but that “there is no evidence of the money being remitted to the federation account”.

5 Diversion of 60% of $1 billion foreign loans obtained from the Chinese by the Ministry of Finance [48]
Massive scam in weapons and defense procurements, and misuse of 3 trillion naira defense budget since 2011 under the guise of fighting Boko Haram[49]

6 Diversion of $2.2 million vaccination medicine fund, by Ministry of Health

7 Diversion of Ebola fight fund up to 1.9 bn naira

8 NIMASA fraud under investigation by EFCC, inclusive of accusation of funding PDP and buying a small piece of land for 13 billion naira

9 Ministry of Finance led by Okonjo Iweala hurried payment of $2.2 million to health ministry contractor in disputed invoices

10 NDDC scams and multifarious scams including 2.7 billion naira worth of contracts that does not confirm to the Public Procurement Act

11 Police Service Commission Scam investigated by ICPC that revealed misappropriation of over 150 million naira related to election related trainings. ICPC made refund recommendations, but many analyst indicated prosecution was more appropriate.

Jail and deport

Jonathan excellent ke ?
Democrat ke?
Good economic management ke?
You are obviously suffering from Stockholm syndrome.

I wrote this when Jonathan was in power. I predicted this situation in 2013 with the way Jonathan was mismanaging the country.it is still relevant today


The reason for the looming sack is mismanagement , bad and corrupt leadership .not oil crash.
If jonathan had kept up with obj's savings rate, nigeria would have had close to £150 billion dollars in reserve funds ,to cushion the fall.

If anyone had read this article by Matt taibbi in 2010, they would have seen the crash coming.
http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405

Many people spend donkey hour jacking pastor Chris books but rarely spend time understanding the world around us.
I can vividly remember warning online about all the unnecessary recruitments in virtually every dysfunctional federal ministry,just for recruitments sakes.
Obasanjo had gotten rid of deadwoods in the ministry like typists who do not know how to use a computer ,7 drivers attached to one single level 15 civil servant ,houseboys and house girls on federal payroll etc.
obj monetised all their fringe benefits to prevent procurement frauds but all that has gone to the scrap heap. ( no more official cars ,official houses ,official spoons , fork has become more cars,houses........)
It is not surprising that they cannot pay salaries.
They are now talking about diversifying but you need capital spending to diversify.
PLS TAKE TIME AND READ THAT ARTICLE.
With a budget only about able to pay salaries where will they get the capital sums needed to buy tractors or build the refineries needed to diversify . like I said before, I wil not be surprised if the world food program would have to come to nigeria in future to feed kwarchiokor strickened folks like they do have in somalia

The picture below aptly describes una case

About time.
Give it a few hours. The purveyors of poverty, the useless professional hacktivist without a day job like Adeniran and Odumakin,will be all over TV and the pages of newspapers talking rubbish.
The biggest favour lagos can do to Nigeria is to discourage the idea of rural -lagos migration.

Good job.
Level 6 is like school cert holder.
Not surprised that the scam has been going on since 2013, during the transformation era.

Olateru has always been consistent. Perhaps she and her people will one day move from the one -Nigeria mentality and start investing their energy in Oodua Republic.



I hate to say that Nigeria Buhari has proven not as strong willed and hung on religion like 99.9% of Nigerians.
When exactly will the 0.1 % stand up to be counted.
The humanists amongst us who know that man is able to do unprecedented good and evil.Those who know that religion has in the course of history, been an impediment to creativity, development and growth.
Those who know that to shut out backwardness,the undeniable evidence of science must be paramount.
Nigeria has got to the point where she needs a Joseph Stalin or Mao Tse Tsung.
Someone who would do to criminals of all stripes what should be done to criminals( a bullet in the back of the head).
The entire legal,law and order system is not fit for purpose.
The criminal political system is not fit for purpose.
The criminal economic system is not fit for purpose.
The criminal educational system is not fit for purpose
The criminal constitution is not fit for purpose.

he bowed to the criminal new-liberal pressures to devalue the naira against his own instincts.
The pressures from those whose business is not to produce, but to act as socially harmful middlemen.
The clowns wanted devaluation,devaluation,devaluation.
Now that the naira has been devalued and the impact is ricocheting around the economy, they are making another noise.
A 'business' community that cannot build refineries but knows how to import. A business community whose entire business is shifting the wealth created elsewhere but who do not create wealth.
Nigerians continuously need access to dollars to consume what they do not produce. You would have expected them to at least produce the dollars they need.
Nope.
They want to continue consuming.
1 $50,000 per annum tuition for their kids while they ruin the educational system at home.

2 $100,000 medical check ups

3 $10,000 champagne

4 $300, 000 shopping trips to Milan, London and Paris.





May be Buhari should do these clowns another favour and hand them over to the IMF for special treatment.

Has anyone noticed that Utomi who was asking for devaluation has suddenly gone quiet.
Now he is saying " Do something".
Without telling us what exactly that " something" means.

Afi lake como naa.Iranu