Onyengbu's Posts
Nairaland Forum › Onyengbu's Profile › Onyengbu's Posts
1 2 3 4 5 6 7 8 ... 28 29 30 31 32 33 34 35 36 (of 46 pages)
Amikwo is too far from where I am. Gunshots at Amikwo cant be heard from temp. site. #off Topic; Seun finally insisted on forcing this NL2 down our throats abi? Abeg Seun, the diameter this your rounded edged layouts are so wide, reduce it to something like 5 pixels. |
if you see one_naija on that link, thats me! ![]() I have been dealing with them since thursday! Come to think of it, cant we even knock that site out of webspace? ![]() At least to prove an e-point since we have proved a political point ![]() While at it, you can also check out: http://www.news24.com/SouthAfrica/News/Nigeria-lashes-out-at-SA-xenophobia-20120306 http://www.news24.com/MyNews24/Nigerians-on-the-rampage-20120309 Those links have been keeping me busy since thursday. |
What happened to the other thread about Aki & paw paw compared with Awolowo! I was about to reply to it and all of a sudden, it is no where to be found. |
Ijogz K:Does that include mutilating his body and crude autopsy like they did? Seems you guys have a different explanation to muslim rites cos mutilation and body part removal aint none of it. if you are in doubt click the link below: http://www.tribune.com.ng/sun/front-page-articles/4725-mkos-brain-heart-other-internal-organs-removed-family-thats-not-true-nothing-was-removed-ore-falomo Edited: Rest in peace MKO |
osajojo:Akpu oru! Where are the fallen houses? idiota! |
Abeg which one be opposite udoka sef? Is it a CCC building? It is only the CCC site that is opposite udoka by the expressway. |
emmatok:North is different cos that is ugwu awusa. Lagos is ours and we cant face crisis there. If you doubt, try anything funny. |
[quote author=~Bluetooth link=topic=878259.msg10260127#msg10260127 date=1330027425]All ibos have seen in yorubaland bear yoruba names and speak yoruba language fluently than ibo.So the culture capture is really against the ibos here.Show me one yoruba bearing oju-iku.[/quote]We are talking about we owning your land not useless culture nonsense. If you annoy me, I will trace you down to wherever you are and buy up all your father's landed property just to teach you some respect. ![]() [quote author=~Bluetooth link=topic=878259.msg10260072#msg10260072 date=1330026953]Scheisbe. . . . .When did mai rent finally becomes landlord abi you want a repeat of the abandoned properties to occur ?[/quote]We dont rent land, we buy them! We buy them and convert landlords to tenants. Abandoned gini?!! How can we abandon our own land. Anyone who wishes to take our land has to prepare for something ugly and I know you dont do ugly ![]() |
sheyguy:The problem wit u guys is that you hardly venture outside your state. I have never heard of a Yoruba lecturer not to talk of one from ondo. Maybe you have them in oladoke akuntola university not here abeg. |
[quote author=~Bluetooth link=topic=878259.msg10259787#msg10259787 date=1330023896]When did lagos becomes part of iboland ?[/quote]Part? Hell NO! It is a complete igboland. Is it when we buy your brothers and sisters and re christen them udoka and nneka before you realize we own lagos? ![]() |
Olalekan 0:She came that close because Peter Obi rigged massively for him in their LGA. It took them almost 2 days to produce result from Agulu their hometown which is easily the largest town in anambra hoping that rigging agulu massively will give them the required victory but it backfired! Remove peter obi from the picture and she will loose in hundreds of thousands! Ngige is too popular for ANY candidate in anambra. However, it doesnt change the fact that madam is very popular too. It is only Ngige that can win her like that in anambra central. |
If only madam will just rest for sometime since Ngige will soon be going for the governorship seat in 2014 or for VP in 2015. She will win as long as she dissociate herself from Peter Obi. She is a good candidate any day in anambra but not when she contests against Ngige. |
LEXYLOV:I think you are over reacting ![]() |
diluminati:I pity for you. Even Bakare himself is no longer sure thats what he wanted ![]() |
[quote author=Rhino.5dm link=topic=853253.msg10035511#msg10035511 date=1327401757]This is how men of integrity should be talking. I'll never regret my supports for the passionate BB. Sir, we shall need your service when the dust settles in Odua Republic. [/quote]Thank God you know he cant go further than that. |
Are they saying they will kill Jonathan?!!! |
ode remo:Sincerely hope you are not talking to me cos if you are, hmmmm! |
^^^ who? |
Burkina Faso Jails Nigerian Woman Over Vulture Voodoo On January 20, 2012 · In News OUAGADOUGOU (AFP) – A court in Burkina Faso slapped prison sentences on two locals and a Nigerian woman arrested last month with 71 vultures and three vulture heads to be used in voodoo rites, an official said Thursday. The two Burkinabe men, aged 33 and 22, and the sexagenarian Nigerian woman, were sentenced Wednesday to jail terms ranging from three to 18 months, the head of legal affairs at the environment ministry, Antoine Kabore, said. “These sentences should serve as an example to all those who target the protected species of our country,” Kabore told reporters. The Nigerian woman, longtime Burkina resident Olutayo Kuduratou, was reportedly planning to smuggle them back to her native country where they are used for fetishes and voodoo rites http://www.vanguardngr.com/2012/01/burkina-faso-jails-nigerian-woman-over-vulture-voodoo/ |
Now I can see why these people are called cowards! Few days ago, everyone of them was calling for GEJ's head but a single line of statement from one man and they have all changed their tones already?!! So you guys no wan impeachment or ghadaffi treatment for GEJ again? Cowards!!!!! |
Kobojunkie:What are you doing back there in Chicago? Are you not also a Nigerian? Come smell some bullets abeg! |
Where are all of u calling for impeachment and for GEJ to be given the gadafi treatment. Where are you?! Just a simple statement from an ex militant and everyone suddenly remembered they are fighting for subsidy and not regime change. I never knew i will ever have to thank asari for anything but one thing is certain, tomorrow people are going to #occupy with their brains and not occupy their brain! Model of the story: bakare and his 'impeachment' cronies are bitter nigerians who will help uwazurike actualize biafra even before ojukwu is buried! |
Hear SLS: Central Bank of Nigeria Governor Sanusi Lamido Sanusi (SLS) responds to some Internet Inquiries on fuel subsidy and wrote: If you will patiently read this mail to the end you will understand my position. I won't be able to repeat everything I have said over the past few years on fuel subsidy, but in summary; Fraud like theft thrives not only because of the existence of greed and benefit but of opportunity. Place yourself in the shoes of the average nigerian "businessman" or "entrepreneur"-polite euphemisms for rent seeking parasites. You establish an elcee for importing 20,000MT of PMS and the PPPRA says this is at a landed cost of N145 for example per litre. So u know that for every litre in that vessel you will get at least N85 as subsidy. Now you have a number of "possiblities": 1. You can off load 5,000 MT and bribe customs and other officials to sign papers confirming u offloaded 20k MT. Then do the same across the chain with a paper trail showing you delivered 20k MT to a tank farm, and maybe even that u transported it to Maiduguri entitling you to a share of the price equalization fund. Maybe for N20-N30 per litre u bribe all those who sign the papers. The 15k MT you take to Benin or Ghana or Cameroun and sell at market price thus makin an additional "profit" of N55/ltr on 15,000MT! 2 you can just forge documents and have them stamped without bringing in anything and collect the subsidy- PPPRA pays based on DOCUMENTS. 3 you can bring in the fuel, load on tankers, sell some at N65N some at 80 some at 100 some across the land borders. You can do all this and no one can catch it or prove it because somebody was paid to sign off on docs. And with a high enough margin there is too much temptation to be resisted and firepower for bribing officials. When I spoke to the house of reps I told them why I was suspecting fraud. It starts from PPPRA "allocations" based on "capacity". You will find a company like Mobil with capacity for say 60,000 MT and a relatively unknown name with a capacity of say 90k MT. Red alert number 1. Although PPPRA is supposed to give license only to marketers with a national distribution network you see names of companies where you have never seen a filling station in their name. I was a chief risk officer in UBA and in FBN for many years approving loans so I know the name of every big player in every industry that nigerian banks lend to as these are among the biggest banks in the country. I see names on the list I don't recognise either from portfolios. I looked at or industry studies over the years. Red alert number 2. I studied the papers presented to PPPRA in a short period in 2010 (I won't tell you how I got them!). And I was surprised that on some days over 10 vessels are said to have discharged cargo in lagos on the same day- clearly the same officers stamping and "verifying" that the vessels were SEEN. Is it really realistic that on the same day 13-15 vessels can discharge in Lagos? Red alert number 3. Why was I interested in fuel marketing. Because the two sectors that led to the near collapse of the banking industry were capital markets and oil marketing. I am not giving any confidential info out as AMCON MD has already disclosed publicly that two companies alone- zenon and AP-owned by the same businessman owed the nigerian banking industry N220b. And we all saw the amount of subsidy paid to those companies published by BusinessDay. So money had been taken, subsidy had been collected but loans were not repaid, and we couldn't see the money either as product in tank farms or in fuel stations or credit sales. So I became obsessed with trying to understand how that industry operated and the more I saw the more I hated it and I started the war against subsidies. It is actually better to do a direct cash payout or add a line item to salaries called petroleum support or transport allowance capped at say N300b p/a than to keep paying it. It goes to pay middle men, rent- seekers and corrupt officers and there is no amount of preaching that will stop this fraud so long as the policy is so badly defined. Everytime oil price goes up and everytime the naira is devalued and everytime the quantity of imports increases the "subsidy" and thus the "rent" increases and there is more gravy to go round. So every year we "import" more and more and deplete our reserves, and the government borrows more and more to pay for subsidy and the beneficiaries are a smal group of marketers, govt officials and neighbouring countries which get fuel without losing forex! And while a person who applies intelligence can see what is happening you can't prove it in a court of law. If the man says he sighted the vessel and it was 20kMT you have to accept it. It was a year ago! So for two years I have been convinced that this thing is a scam and that it cannot be stopped because the entire controls have been compromised. NNPC sells domestic crude, Pays whatever subsidy PPPRA says and then gives the balance after JVC to the federation account. And while fani kayode is right to speak up, the truth is that it was obasanjo who first subverted the process by allowing NNPC to make the deductions before paying into federation account. Because once money goes into that account it is to be shared among 3 tiers of government so strictly speaking the deductions have always been unconstitutional as the FG was paying subsidy on behalf of itself and state and LGs without their approval. So yes, I am willing to take all the criticism and labels and be unpopular but this has to stop and govt can find other ways of alleviating pain. Iran removed subsidies and started cash transfers directly to the poor. It is up to fiscal authorities to figure out safety nets but from where I sit and what I know this decision is not only correct but necessary and overdue. I also confirm that I have revealed nothing here I haven't spoken about before in public and it is just that Nigerians never listen! I am not complaining about insults I am used to that. I just believe that an insult is not an argument and when people resort to personal abuse they have run out of logic. But to then go beyond me and extend it to my dead grandfather and his "descendants" ie my late father his siblings etc I think goes beyond the pale. As a Nigerian- and as an economist- I can take a position on economic matters and this position is one I have had for years even before coming in to the central bank. I have also explained the position on several occasions and criticised government for not doing this before. In 2010 at a public hearing in the House of Reps on the 25% saga I alerted the nation of what I considered a potential big scam around subsidies and urged for its removal. No one paid attention. The economics is very clear to me. That it is unpopular is also understandable. The British public is unhappy with Tory budget cuts. The Greeks went on riot over austerity. Italian parliamentarians came to blows before Berlusconi was thrown out of office. The US congress is yet to approve Obamas tax increases. Economic decisions-by definition-ALWAYS must involve a cost or an opportunity cost since for them to qualify as economic they must involve a choice in resource allocation among competing uses. An enlightened debate is one that weighs the pros and cons of removing subsidy and continuing with it. Removing it has costs in terms of nigerians paying more for PMS- which by the way is not the fuel for genrators, power plants, production facilities, heavy duty goods transportation trucks and even luxury buses. It is fuel used by the middle class and car owners to drove around town and from city to city not to employ workers and produce goods and services. Diesel which is critical to manufacturing and employment creation is not subsidized as the subsidy was removed years ago by obasanjo. Nigerians said nothing then because it was blue collar workers that got retrenched by factories. Those speaking now on the internet and facebook and twitter and newspapers are not workers but middle class elite who use PMS in their smart cars so let's stop all the ideological pretence. This is not about elite and masses but an intra-elite discourse. I will summarise the issues and I write as a Nigerrian economist and public intellectual not as a public servant: 1. I am a strong advocate for subsidies if they are for production and not consumption, and if they benefit the poor and not middle men and rent seekers. The US government subsidizes cotton and wheat farmers and nigeria spends its reserves importing wheat from america and keeping american farmers employed. The OECD countried pay subsidies to cattle farmers. Today Promasidor imports powdered milk from New Zealand and packages in nigeria using our foreign exchange while we have cattle. WAMCO imports milk from the UK and adds water and tins it and calls it "production" of Peak milk. We use our forex to import petroleum products and keep refineries and jobs open in europe. Meanwhile precisely because of market distortions there can be no private sector investment in refineries since no one can make profit seling at the regulated price unless we are going to provide private refineries with crude for next to nothing. Certainly no one can purchase crude at market price, refine it and sell at N65 without huge losses so this explains why there are no private refineries. 2. what I mention above is at the heart of the problem with government economic policy which needs to be changed. The economy since SAP is one that supports imported consumption and not local production, perpetuating dependency, non inclusive growth and insecurity. Why is it that the economy is growing at 7pct annually but the people are getting poorer. Because growth gains are not evenly distributed. Personal income is skewed towards people in the oil industry, telecomms, high finance, stock market, real estate and yes civil servants and politicians who feed on corruption. We produce crude oil but import petroleum products (today the UKs highest exports to nigeria are petroleum products). We have a large cotton belt but import textiles from china (thus keeping their subsidized factories open and jobs in china). We are the world's number 1 producer of cassava but import cassava starch from europe. We have a huge tomato belt in kadawa, jigawa and chad basin but are the world's largest importer of tomato paste-from China and Italy. We can produce rice but we import rice from Thailand and India-most of it from grain reserves that have been in stock for over 5 3. If above is clear then it is evident that this trajectory can only lead to disaster. We will continue to spend our resources promoting growth and employment in our trading partners. Terms of trade shift against us, we can only have foreign reserves because by the good grace of God we have Oil which will be exhausted soon and with new discoveries may become so cheap it loses value. We don't create any value added jobs as the only real production is peasant farming. Oill, telecomms, finance and real estate are not employment intensive. So everyone becomes a civil servant as the economy cannot create jobs. Result? In 2012 budget out of a total N1.8tr recurrent expenditure for the executive arm N1.6tr is on personnel costs not overheads. To reduce this you have to cut salaries or pensions or retrench civil servants. This is the classic trajectory of underdevelopment, de- development and de- industrialisation. 4. For the above reasons I am a strong proponent of structural reform and this begins from the fiscal framework. The limited resources of government should be allocated to supporting production-especially if we are running a budget deficit. We cannot keep borrowing to support conspicuous consumption. To support a job creating economy we need to fund power, transportation infrastructure, market infrastructure and access, technical and vocational education etc. We need to build rice processing plants, produce starch and cassava flour and ethanol, process our tomato and milk locally, regenerate our textiles firms (which used to employ 600,000 workers but now employ 30,000!), refine our own crude etc. We cannot even begin to do this if 30pct of govt expenditure is on fuel subsidy, if out of the balance 70pct is recurrent spending, 10pct is debt service, 10pct goes to the niger delta and only 10pct is capital expenditure. So it is about a choice-what do we spend money on and how do we allocate resources? 5. We often compare ourselves to other oil producing countries like saudi arabia. What are the facts? With a population of over 160m we produce 2mbpd ie 1 barrel for every 80+ citizens daily. Govt share of revenues if like 50pct of every barrel so it is effectively a barrel for 160 citizens. Saudi Arabia with a 24m population produces over 8mbpd or one barrel for every 3 citizens. In fact in 2010 the nearest OPEC country to nigeria in production per capita was Algeria with a barrel for 30 and algeria is more gas than oil. With one barrel for 3 citizens dailt saudi arabia is able to provide infrastructure, education, healthcare and social safety nets and have huge savings. It can provide subsidised fuel at a total cost that is a fraction of its savings and even export refined products. It is paying for subsidies ouy od its fiscal savings and not borrowing to pay. We are like a poor man with a rich neighbour. The neighbour buids a good house, buys several cars, eat expensive food, travel abroad every year and still have huge balances in sevral current accounts. Then you choose to live that lifestyle and mortgage your house, take an overdraft from the bank to finance it. Next year it is time to repay the bank, u don't have the money so u go to another bank, borrow enough to pay the first bank principal plus interest and also fund the continuation of the lifestyle. It continues till u can't borrow anymore and the bank throws u and your family out of your house and you everything. A responsible father would have long since faced reality and told his family he doesn't earn as much as his neighbour and expectations need to be moderated if they to keep their roof. Of course the children won't be happy at not going to Hawaii for summer and having to take public transport rather than own cars like their neighbour's children. Maybe they will even abuse the father behind his back and call him a miser. That is the cost of leadership. Finally: removing subsidy is not a silver bullet that solves our economic problems. And there is a huge trust deficit that government has to address. Government needs to investigate subsidy payments and punish any violations of extant guidelines. It needs to cut on unnecessary and waste ful expenditure. It needs to fight corruption and show seriousness in that. It needs to deliver on capital projects, power and infrastructure including irrigation, farm-level storage and agri- processing. These are all valid issues that are to be taken IN ADDITION to and not in place of subsidy removal |
Occupy as much as you want but one thing you should bear in mind is that revolution = war in Nigeria. Anybody who is thinking of removing GEJ by any means whatsoever should just be ready for war! Nuff said. |
sheyguy:GEJ rigged ? Keep sinking in your self pity and ignorance there. For the records, we voted him and we still support him and you guys aint doing nuffing about it. He is there till 2015 or even 2019 if he so desires. |
Akiika:No you got it all wrong, we are actually sitting in front of our TVs watching you guys suffer and suffer. If anything good comes out of it, we are all in it together. Afterall no be one nigeria again? ![]() |
Hopefully he will wipe our (Nigerian) shame from that Talent-forsaken club ![]() |
kingoflag:First of all, where you come from doesnt matter cos we have axeholes everywhere and you are just one of them. Whether you weep till next year, I still stand on what I said, we have our own corrupt official and we know them but we are not killing anybody, at least not yet. We are tired of hearing that tinubu narrowly escaped death or otedola/IBB's house almost razed down. We want to see them do it. You can cry as much as you want but you know what, I dont give a flying fork! |
kingoflag:Because we are wiser now. Since the struggle has changed to attacking people, you guys should make sure you kill thieves from your region next time you attack them. Enough of all that 'tinubu-escaped-death-by-whiskers' bulldung. We want to see you kill them. However, you should limit the killings to your own region. We know our own thieves but we wont touch them until you have KILLED all your thieves first afterall they have been the ones sodomizing nigeria for a long time now. Our own people are new in the business so lets kill the older thieves first! Revolution my foot! |
ivoice247:WOW! You nailed it! Thats why there are no armed robbers, looters or boko haramites in sharia states! |
Volunteer:none of those u mentioned is GEJ and considering current political weather in nigeria, the last thing any sensible or peace loving nigerian will wish is that GEJ dies especially unnaturally. |
1 2 3 4 5 6 7 8 ... 28 29 30 31 32 33 34 35 36 (of 46 pages)



