₦airaland Forum

Wase should be allowed to test his popularity like Osinbanjo

Aurielfinizu:
Some I carried now from aso Villa via bolt said this thing..

Hmmm he said they will shock Tinibu..

Hausa and Buhari just want to scam him perfectly...

Since he wanted to use force and information he thinks he knows against buhari to grab the APC candidate..

You just dey write jargons because of your hate for Asiwaju

You better relax and calm down yourself.

AmehTsaev:
I won't lie, say what you like about Dave Umahi regarding his political inclinations, but the man has really tried for Ebonyi state...even more impressive that he has built all this infrastructure with a budget not even up to a quarter of what most states in Nigeria get. Stakeholders in oyel rich states like Bayelsa and Delta should be ashamed at their leaders for failing them massively despite the huge Federal allocations they receive smh

Nah Bayelsa State worst pass

Umahi would have done wanders if he governed an Oil Rich State like Bayelsa

Lol

The Senator should change the name to Pandora name

goodness4ever:
It is six days to inauguration...

I think is an old article

Ooni:
The case can go both ways as the issue of locus standi has never been decided at the supreme court. Zamfara case was thrown out over technicalities of originating summon. Also, Ebonyi case was dismissed because petition was filed out of time.
Two occasions can warrant voiding of candidature. Nomination from two parties and nomination for more than one constituency. I doubt if someone can be off the hook for being nominated for more than one constituency on the ground that the petitioner is not an aspirant of the party.

Well, we will know who's right on Friday

But I still stand my ground, the PDP will lose on Friday.

On what capacity?

I don't see Dino winning the Governorship Election

SOSinNigeria:
Yet you want the criminal drug lord to finish the little that is remaining.

Wicked souls supporting a condemned criminal called Tifnubu.

Shallow things like you do not deserve to be commenting in the Politics Section

Umahi has really done well in Ebonyi State

The PDP have ruined Bayelsa State, the State is lucky to be receiving 13% oi

It seems most of you do not know this case has been ongoing before now

The PDP lost at the FHC and at the Appeal Court.

The PDP will lose on Friday again because they do not have the locus standi

Is the same favourable judgement APC got at the FHC and the Court Of Appeal

Do Buhari know over 100 people were killed in Plateau State?

Is not disrespectful

If Biden is reelected next year, Asiwaju can also send the Minister Of Work to represent him at his inauguration.

The most important thing is that, the US President is sending a Delegate to Nigeria.

Ceenachi:
Bro
Oil dey your head
When I travel to my town(Oraifite) for Christmas and Easter period, i was really amaze
Anambra dey try wella 🙌🙌

Lagos state nah minus for electricity

It all depend on the location you are in Lagos

LandMan:
If you are not a goat and if you don't reason like a goat, how's your submission related to what the op asked?



People like you are irritating

Very Irritating

See the kin mess anger don make Seun Kuti land himself

He only did well in terms of infrastructure

In terms of the 2023 General Election, I will score him very high too

Rebuker:
Why the hatred though?

How's my comment a hatred though?

kanupapilo:
Top 10 Highest Paid Artists In Nigeria 2022


https://rnn.ng/highest-paid-artists-in-nigeria-2022/

Paste how you arrive at this figures with Nairalanders

Pandora will never become the President Of Nigeria

He might rule Biafra though

It does not matter


What matters for now is that, it won't be televise live

orohbiro:
back to sender

You did nothing wrong in collecting the money

Collect the money and vote whoever you want to vote for if the agents no share am with sense

spagettiluv:
Is this real?

Dem just dey cas cruise

Good One

Him Tu Lie wey still dey ask for 7 weeks don Lule Peee

The Federation Account Allocation Committee (FAAC) shared N655.932 billion among the three tiers of government in April 2023, a decrease compared to the previous months.
The decline in allocation was primarily due to decreases in petroleum profit tax, company income tax, import and excise duties, oil and gas royalties, as well as a marginal decrease in value-added tax (VAT) and electronic money transfer levies (EMTL).

Nigeria’s oil production dropped by 2% in March 2023 compared to February, but overall, crude oil production in Q1 2023 showed a significant improvement compared to the previous year.
A communique issued by the Federation Account Allocation Committee FAAC in its latest meeting on Friday said it shared a sum of N655.932 billion among the three tiers of government in April 2023.

The figure compares with N714.629 billion shared in March and N722.677 billion shared in February 2023. The Federal Government had the biggest draw from the account (56%), the 37 State Governments (24%), the 774 Local Governments (20%), and other relevant agencies in the country.

The month-on-month decline is traceable to a significant decrease in petroleum profit tax (PPT), company income tax, import and excise duties, and oil and gas royalties, also a marginal decrease in VAT and EMTL.

The major drivers of the account are made up of five items which are: gross statutory revenue (GSR), Value Added Tax (VAT), exchange gain (EG), electronic money transfer levies (EMTL), and augmentation from forex equalization account.

Many States rely solely on FAAC allocations to run their states with very minimal Internally Generated Revenue (IGR). Based on the 2022 Budget report, states like Lagos Rivers Kaduna and Ebonyi have comparatively limited dependence on federally distributed revenue for their operations.


In contrast, states like Benue, Taraba, Adamawa, Yobe and Bayelsa either need to work harder on growing their Internally Generated Revenue considering the size of their operating expenses or work on pruning their operating expenses.

Based on data from the National Upstream Petroleum Regulatory Commission (NUPRC), Nigeria’s oil production dropped month on month, down 2% to 1.517 million barrels per day (mbpd), in March 2023, from 1.547mbpd recorded in February 2023.

The nation’s output had risen by 3.5% in February 2023 to 1.54mbpd from 1.494mbpd recorded in January. Nigeria produced about 70% of its 1.8mbpd OPEC quota in Q1 2023. Despite the March drop, the Q1 performance is a significant improvement in crude oil production from last year when production was at an all-time low.

When compared with the country’s budget benchmark, actual crude oil production in Q1 2023 was c.75.6% of the 1.69mbpd day in the 2023 budget.


https://nairametrics.com/2023/05/23/the-federation-common-purse-monthly-sharing-faac-is-shrinking/

We anticipate a 25 basis points increase in the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN) at the end of its MPC today.
We also expect unchanged policy parameters such as Cash Reserve Ratio (CRR), liquidity ratio, and asymmetric corridor.
The key considerations for the MPC committee including attracting foreign portfolio investors (FPIs) and addressing inflationary pressures.
As the Central Bank of Nigeria (CBN) concludes its third Monetary Policy Committee (MPC) meeting of the year today, we expect a very moderate 25 basis points increase in the Monetary Policy Rate (MPR).

We, however, expect the other policy parameters such as the Cash Reserve Ratio (CRR), liquidity ratio and asymmetric corridor to remain unchanged.

We also believe that the MPC will continue to toll the way of other advanced countries such as the Bank of England and the Federal Reserve which have increased their interest rate by 25bps. We expect price pressures, elevated interest rates in advanced countries and the need to attract foreign portfolio investors (FPIs) to remain top on the committee’s mind as the CBN has been prioritising these concerns over growth.

No worries about economic growth
The committee believes that the economy has maintained a growth trajectory for nine consecutive quarters, since exiting the recession in 2020.

The improved performance has been largely driven by sustained growth in the services and agricultural sectors amidst a decline in oil revenues.

The committee believes output growth has been sustained by a combination of development finance interventions by the Bank and fiscal stimulus by the Federal Government. We, however, believe that continuous rate hikes will continue to limit and put the country’s fragile growth at risk while doing little to stem inflation.

The need to attract foreign capital inflows
Capital inflows continue to decline, and this remains a key concern for the committee. The elevated interest rates by global central banks have continued to reinforce flight to safety as foreign portfolio investors shed their investment portfolio in emerging markets and developing economies in favour of safer haven advanced economies.

Again, FX concerns and the inability of FPIs to repatriate funds in recent years, amidst poor economic indices continue to deter portfolio investments. The Nigerian equities market has remained bearish with the total foreign portfolio decreasing from N122.53 billion to N8.47 billion between April 2018 and April 2023.

We believe that concerns around foreign exchange stability and liquidity will continue to pressure foreign portfolio inflows in the medium to long term.

Inflationary pressures likely to drive another MPR hike
The headline inflation maintained its upward trend in April, increasing by 18bps to 22.22%, driven by 16bps and 28bps increases in food and core inflation.

We believe the inflation rate at this level still falls below CBN’s expectations, hence we eliminate the possibility of a rate cut. Moreover, the CBN will likely toe the line of its global peers, hence, we anticipate a 25bps increase in the Monetary Policy Rate.

That said, we reiterate that the rate hikes have had a minimal effect on inflation as supply-side factors remain dominant, We also reiterate that exchange rate stability and FX repatriation concerns remain ahead of any carry trade opportunities in the mind of Foreign Portfolio Investors (FPIs).

In our view, the continuous rate hikes have stifled the country’s fragile growth much more than any associated benefits.


https://nairametrics.com/2023/05/23/25-basis-points-rate-hike-likely-as-cbns-mpc-concludes-meeting/

Nah Seun Kuti put himself for this mess he dey inside

The Supreme Court will throw away the case because the PDP do not have the right to interfere in APC internal party affair

She's beautiful

Penguin2:
There seems to be no no rest for the ‘president elect’ as just as news is filtering in that the Supreme Court has fixed May 26 to give judgment on the double nomination suit challenging his qualification for the just concluded elections, another court, a Federal High Court, will on Tuesday hear a perjury suit filed against him which is equally seeking his disqualification and the halting of May 29th inauguration.



https://news.band/court-to-hear-perjury-suit-seeking-to-prosecute-tinubu-stop-may-29-inauguration-on-tuesday/

Nlfpmod
Mynd44

The Court will throw out the case

Hearders have no right of destroying farmers farmland on the basis of no grazing route