₦airaland Forum

Hey I need that t shirt, the new summer top.

A wise lesson I learned long ago, when in doubt utter these SAFE wise words....... Sorry but I DONT KNOW

A quick and dirty observation of the budget leads me to believe that we are not doing all that bad, we are just TOO DAMN INEFFICIENT. Thats our problem. If you look at debt service its not that bad, but we are spending too much money to run that country. In other words we have a company that generates revenue but we have TOO Many managers and departments. Thats Nigeria's problem. We should be investing more in Cap Ex for proper infrastructure and private sector revenue generation a.o joint ventures. We need to implement a proper tax collection system which covers the private sector and not just large companies and we need to make government smaller. Thats where we are being cheated all these layers of government is where the money goes missing.

Contrary to what is made bold concerning the Police, I dont see the issue. We need to pay the police and they cant fight crime with paper bullets. If the police was making money on the budget why the bribery. No maybe a handful, but not what we think.

So much potential that country and so little derived.. Heartbreaking.

Dont they have this twisted, Obasanjo OWES Nigeria debt.

missjo: Why so few pictures naw? Abi una never see fine car to snap & show for here...please we don't want daddy/mommy/aunty/uncle's car picture here. See one guy post benz(okpolo eye), e clear say you inherit am...which young naija hustling bobo goes to dealership to buy benz product(not to talk of okpolo eye)?

Me don't haff car yet, I still take drops or I borrow my sisters' Honda Discussion Continue

My sista if you were referring to me, no I didnt inherit it wish I did ask anyone in the Netherlands, tax is like 33% on top of the car (next you will want a receipt LOL) Wish I lived in Germany, Spain or the States, would have gotten more for the EUR 52K. Im not that young thanks though. To be honest Ive seen well to do, hard working Nigerians with much more believe me.

Keeping it gentlemanly.

Afam4eva: These are the kind of topics we should be seeing on the frontpage...

What i want to know is how to determine what percentage to give the initial investors. For instance, i just need Five Hundred Thousand to kick of a business and i don't have zilch and i get an investor that will invest the said amount. Knowing fully well that the business will grow to attract investors who are ready to drop billions of Naira, is it wise to give someone who's dropping 500k a huge percentage? Like maybe 10%. Is that not a waste? is their a formula for determining these things?

Hi there actually there is. An investor must be able to get a return on the same like risk. To keep it simple, their return would need to be AT MINIMUM what they would get at a bank whan placing a deposit. If that is say 15% at the moment, then an investor would want that as minimum since he could get 15% risk free ( Well almost , but I dont want to get into that) via a deposit at a bank. The additional amount you place would be the risk margin of investing. But the Minimum you know know. Hope this helps.

PS
Before someone replys that Eko is totally Private Funded, I know that but the State will also need to finance certain infrastructural issues, such electricty link, water, sewage and possible insuarnce coverage.

WOW, ignorance is not a good thing. Guys/Gals relax. An issuer usually gets rated (Fitch is one, so is S&P and Moodys), so Im assuming as Lagos has issued bonds to finance among other things Eko City, they need to get regular ratings and outlooks, which is what this is. So that those that invested in the bond know the financial well being and forecast of their bond issuer (here Lagos state) so as to ascertain among other things if they get their investment back and also to price the bond in the secondary market.

Though Im not a big fan of Eko City for certain reasons, you must give the Gov Fashola props for his fiscal spending and budgeting. Wish the other govs would take note. Actually wish the Fed Gov would take note.

Manny4Life is spot on....GET LEGAL COUNSEL.Im an investment banker and I would be fooling you if I told you that on such a forum I would be able to explain the intricate nature in a simple form.

My advice:
State down what it is you wish to achieve at the end of the day, namely,
• Control (at least 50.1%)
• That investors dont leave easily
• How profit ( dividends) will be shared and manner
• Type, class and ranking of shares

And request that legal counsel document this for you. You may look to even having some workers receive shares instead of salary if your idea is worth wile.

Also note that the money you are investing doesn’t represent the percentage of investment. What I mean is that though you may have only invested NGN 2MM, your idea, contacts, business plane etc may be worth NGN 10 MM in the form of intangible value.

Success!!

[quote author=Somorin#1]1. Which of them to you is the best? It depends on the intended usage. I prefer rear wheel drive cars for my Southern California commutes. When I lived in Texas and with the occasional snow/ice, I preferred front wheel drive. But the ultimate is all wheel drive. Of course all my race cars are rear wheel drives.

2. Which of the two gives more driving pleasure? The rear wheel drive hands down. Not even the all wheel drives can touch a well balanced rear wheel drive car.

3. Which of them is fun to put stunts on the wheels? I don't understand this question.

4. Which of the two is more prone to oversteer or understeer? Front wheel drives are inherently queens of understeer and for good measure, understeer is safer than oversteer. With a well balanced rear wheel drive like a Miata, you can induce over and under steer just by modulating the gas pedal in corners.

5. If understeer, which one is more predictable? The front wheel drive oen is more predictable since with good tires the car is still trying to pull itself out of the steer.

I have all three in my current stable and if one drives like a gentleman you would be had pressed to notice the differences really. Well until you induce torque steer on the front wheel drives, but that's another thread.[/quote]Well said and agree with everything you have said, especially that Id rather have under then over steer. My wifes car had understeer and when it snows and ices, Id rather drive her car then mine that has oversteer. I also feel that I can control it better. You wouldnt think that with Merc E, but its true.

The name of the writer is : Atilola MORONfolu ENUF SAID. DO I REALLY NEED TO COMMENT.

Jeepers Creepers, no doubt.

Funny you say this. The first thing that came to my mind when I heard he was stepping down was STRANGE, BUT then I thought....ITS THE BEST TIME TO STEP DOWN. With all the issues that are being put forth to the Pope to rule/judge on, this must be the most challenging time. Homosexuality, same sex marriages, abortion etc etc etc. Whether you agree or not, you do agree as the Pope you have some tough decisions, so why not simply step down. I mean its a WIN WIN. No one will blame you when you say you can do it any longer due to your age, I mean do they want you to do the job without full conviction. Also you will get praise for not being power hungry I mean you are stepping down and giving someelse a chance and the biggest WIN, YOU DONT have to rule on any wordly judgements that are becoming more and more delicate.

ELgordo: Hope you guys know that the next pope coming in is going to be the one to usher in the Antichrist he is going to be the False Prophet . . . Heads up people Rapture is the next thing . . . This new pope in going to be in full support of same sex Marriage. . Let us hold hands and pray we get close to God. . .Jesus Christ.

Yap on point.

[quote author=tombeck]

Though times are changing I doubt they will elect a BLACK pope, but you never know, I mean who would have figured that the US would elect a Black president, and with religion on the decline what better way for the Catholic church to market to the youth and world in general by electing a black pope. I just have a hard time, knowing what most italians think of black, bow and praising a black pope, but like I said times are changing.

linearity: I seriously doubt Cardinal Arinze, he is 81 years old (born 1932). The current Pope was even younger than Arinze when he was select in 2005, I do not see the Cardinals going for someone very old again.

uchbabybaby: Dat is why I luv oyibo people. If it is a naija man, he will lik to die in dat position. Even if a naija man is at the point of death or very old, he will stil like to retain his position. Naija ppl make una learn gud tns o .

I dont get this : Thats why I love Oyinbo ppl. You do know that prior to this ALL the Popes held that position until they died. If Im not mistaken he is one of FEW that ever did this.

You guys dont get it, knowing our honorable Senate President, someone must have mentioned that they could make FAST money from the upcoming match, henc he said lets FAST (as in get the money FAST). Come on its Mark remember.

Seems to be paying off. Is it me or do most of these guys have tummies.

gbanikiti: When will GEJ start selling his own "FRESH AIR"? it can't be free forever nau!

I hear his misses has already started. It will be callled Frech Oxo-in-gen.

At last these clueless corrupt politicians have found another avenue to steal. Mali,Mali Mr President are you serious? The things this joker is proposing have not even been done in Nigeria.Who gives their neighbor a driver for their car whereas they dont have a bike. We all know whats going on,BUT WHO CARES! They know we wont and cant do a DAMN THING BUT RANT ON BLOGS.

And here lies the paradox..... Our lawmakers are using the theme ‘ We need to show the world, be an example etc etc’ why not do the same with corruption, good roads, education, crime, development and our biggest disease ACCOUNTABILITY. Well mr Senate President, you want to follow the straight and narrow while driving on a broad horizon. NO POINTS FROM ME. I see thru your smokescreen.

MB 250 Blue Eff

Had this for about 3 years now. From off the assembly to know Ive done 130.000 km and averaging 43 mpg (I did the math for you). Is great, though wil confess its a diesel.

If you land on the Electric Company, will you need to pay a fine, I mean you dont get constant energy, right

This is a sad BUT natural development. I dont condone this in no way or fashion. I also have a mother....but when the poor masses feel betrayed on a daily basis, where they witness the blatant corruption and abuse of power of the elite, this is bound to happen. This is only the beginning. You need to question if its really money they want, afterall they know the risks involved. It could be that they want a reason to harm this lady, who is a pawn in a war of attrition. Elite fly in jets yet ban those that get around on motorbikes. You cant offer the bare necessitites, yet the elite live in splendor. The poor masses are terrorised by robbers, while you look the other way since you are fully protected. Did we think no one would go radicle? Very sad, no doubt but almost expected.

Very Nice indeed. Too bad our government cant give the masses the basics (sanitation, regulation and good governance) and provide security. Nigeria would have been heaven on earth. Really what is it we dont have? Beautiful handsome people ( the men and ladies) no matter where you go, great food, nice weather, exotic scenes, city and rural and we love to Party because NO ONE PARTIES LIKE US.

"If wishes were horses, beggars would ride"

Da Mayor: Lol! I like your post. Actually, only "Primary 1 pikin's" see criticism as insult.
For what its worth, Nigeria has benefited from my foreign exchange remittance :-).

My Mayor and THIS is the MAIN problem that Nigeria faces. NO ACCOUNTABILITY. It is because of your frank and honest post that I even thought of responding. There is a disease that is destroying that country and can be seen in every level, rich/poor, educated/uneducated, north/south. I have labelled it DTMTT (DONT TELL ME THE TRUTH). This disease is one which if you see what is wrong DONT SAY IT: WHY, you will be labelled a rebel, non Nigerian, not patriot, an insulter, enemy of progress, how dare you, do you know who I am, you must be Yoruba, Ibo, Hausa and the list goes on.

And its because of this disease the leaders are able to do what they do, because this disease allows for no accountability. Hence the Police/Army can not be told they are wrong, politicians cant be told they are wrong, actually who can be told they are wrong without it not being seen as an insult. Due to this, as you rightfully pointed out, we have become use to accepting bronze (not even silver forget about gold).

Here is question I want every Nigerian to ask and answer honestly: Would you mind if your President stole some money or had corrupt cronies BUT at least helped the people/masses? I can guarantee you that 99% of Nigerians will see NO PROBLEM WITH THIS! And there lies the issue. Men, would you marry a woman that said I will do all you ask and be the perfect wife BUT every now and then I will sleep outside? Got you thinking know, the grey matter is warm right.

We have gotten to the point that we will accept the bare minimum. Shame on us, because if you ask this of an American or European they will say irrevocably without blinking HELL NO WAY! That is his job. Are we not surprised that most want to enter government, NOT to improve the situation but because it can lead to personal success. Nigeria leads the list of buyers of private jets mainly by Governors, while their indigenes can barely survive let alone ask for safety and freedom. We have senators that make more than the damn president of the United States for God Sake.

For those that say well MR BIG MOUTH what are YOU doing to change it, I say I cant do ANYTHING and nor can any other person UNTIL the tide changes. Until the masses declare enough is enough. There will be a revolution take my word. Whether it will be bloody or not time will tell. I may not even live to witness it though I pray I do, what a sight that will be. That Nigerians STOP thinking they are not valuable enough to deserve the up most best and DEMAND such from that great country.

The true essence of rap as it was intended, was meant to be poetic spiritual and even self upliffting. In the 60s it was known as spoken word. But in came business and the man saw it awas a way of making money. I remember back in the 80s they were saying it was a fad and would go away and woul NEVER lead the sales, fast forward and its the leading sales leader.

Sorry but your numbers as well as Objectivity is incorrect.

First of all when Bush took over it was over US 6TR and when Obama took over its was Over 12bn. From then to now US4Tr was added. But you do know which presidents the debt increased the most right: Bush followed by his dad, followed by Reaga. What many people dont know is that with Reagan it wnet from US1 Tr to over US3 tr (that 300%) dont take my word just google US DEBT CEILING Since 1981.

Also note that whether or not Rep want to agree, Obama inherited the WORST ECONOMY IN HISTORY. Thats a fact. The last years were WORST then the geat depression. When you take all these things into considertion, you see that he didnt do that bad at all.

Things like Gas prices are not determinded by Obama or any govermnet but by eco factors.

To be honest, the main issues is not the presidency but the Congress. The last adminsitrations have not have a Congress backing it, so each president has spent the last years fighting congress getting nothing done. The ONLY presdident that was able to work with a Opposition Congress was Clinton.

elampiro: Just to point this out. When George Bush took over from Clinton, American was in debt of $5trillion, after 8 years rule and two big wars in Iraq and Afghanistan, Bush added only $5 trillion to make it $10trillion.

Obama has accumulated about $6trillion in debt in 3 1/2 years of his rule. Unemployment is on the rise and economy is in a mess. Given another 4 years, I fear for America and the whole world.

Wow someone who FINALLY knows what they are talking about.


[quote author=Kay-Dee]It's amazing that some people still blame Obama for America's increasing debt. Republicans are very effective in befuddling people's brains.

The 25% rise in tuition and fees, is exaggerated and does not account for inflation. it is a lot lower when inflation is taken into account, but who do we even blame for that? Governors and state legislators set college prices not Obama.

Raised taxes 21 times ? Can you name them ?
The supreme court termed the penalty (for free riders) in Obamacare 'a tax' but not everyone is penalized for not having med. ins; people of certain lower income brackets are exempted. Besides the repubs don't like free-riders, they should be happy about that part of Obama care.
Stop listening to people like Grover Norquist, he's a greedy mofo; even Ben Stein a staunch conservative economist was on fox news some days ago saying taxes on the rich were too low and had to be raised (on rich people) if they are serious about reducing the deficit.


Yes, gas prices increased from 1.87 to 3.8, so who do we thank for that ? Have you heard of the booming Chinese and Indian economies and how their demand for oil affects global price? Obama does not control global oil prices and don't even think that drilling every nook and cranny within American territory can solve this. OPEC is beyond US control.

etc etc and other lies on that poster of yours from Romney's website.

Unless you're part of the 1%, you berra wake up and smell the cappucino.[/quote]

MORAL OF THE STORY:

How dare you try to do this and NOT grease our palms before hand.

The short and simple answer is YES. Some of the responses actually show why we have issues in Nigeria, because there is no accountability in Nigeria and when we have it its seen in the wrong light as if you are unpatriotic or hate your country. We love to make ourselves feel good with lies we know arent true. I think its the way Nigerian have learned to cope, afterwards the poor man always say, Tomorrow go better, when he knows it wont.

To make my point all the more clear, ask yourself the following. If you stole and got caught or did a crime in which your family's name was all over the news, would your parents be proud. If they asked your parents are you ashamed, would their answer be, No my child rocks, afterwards no one is perfect. You and I know such and answer would not be welcomed. A good parent would say YES Im ashamed because I raised him/her better then that but I still love him/her because its my child, but what he did was bad.

A country that pays politicians more then The President of the US, yet minimum wage is barely $120 a month.
The new kidnap capital of the world (not my subjctive opinion, but FACT).
Where citizens are not safe EVEN at the hands of their own police.
University students cant graduate in 4 years because of strikes.
A country where the rich go abroad when they get sick (even our own president doesnt trust the life of his wife to Nigerian hospitals)
Constant electricty is seen as a luxury in the 21st century, yet most have laptops and Ipads.
More then half of our GDP goes to salaries and government ops yet we dont have a viable pension or social plan
A country where most are on or below the poverty level.
Where terrorists are harboured and aided by the same people we voted into office to serve us.

So to answer your question YES, though I love that country Im deeply ashamsed of what we have become and the sooner we come to the realisation that we have let ourselves down, the quicker the healing and progession can begin. We need to stop fooling ourselves. It is what it is, but dont pretend you dont see it and dont confuse repremanding with not loving. I reprmand my child BECAUSE i love him.