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 Politics › Re: Removal Of Petroleum Subsidy: In Whose Interest? Live by pheesayor(m): 10:54am On Dec 22, 2011 |
the president will spend 1 billion on food alone and he wants us to buy fuel higher, bunch of thieves. The money, energy and time spent on subsidy would have been spent doing better things |
| Politics › Re: Tinubu, Fashola To Make N506b From Lekki Toll Fees ! by pheesayor(m): 10:47am On Dec 22, 2011 |
karl max:You talk as if they just added another lane beside it when the truth is they rebuilt the road and added an extra lane, all u guys should clamour for is a motorable alternative route |
| Politics › Re: Oil Subsidy Removal: I’ll Lead Sng To Protest If – Tunde Bakare by pheesayor(m): 8:51am On Dec 20, 2011 |
1025: |
| Politics › Re: Fashola Pleads With Residents On Toll And Further Explains by pheesayor(m): 6:38am On Dec 19, 2011 |
The toll payment will maintain the road, the main issue is three within such short distance. FYI, there will be toll on the badagry road too when completed. Dialogue will always be the way out |
| Politics › Re: The Real Cost Of Nigeria Petrol by pheesayor(op): 5:32am On Dec 19, 2011 |
Pls do, we'll be waiting. A former petroleum minister once said there's no subsidy. |
| Politics › Re: The Real Cost Of Nigeria Petrol by pheesayor(op): 9:47pm On Dec 18, 2011 |
| Politics › The Real Cost Of Nigeria Petrol by pheesayor(op): 9:46pm On Dec 18, 2011 |
By Dr. Izielen Agbon On December 10, 2011, if you stopped at the Mobil filling station on Old Aba Road in Port Harcourt , you would be able to buy a litre of petrol for 65 naira or $1.66 per gallon at an exchange rate of $1/N157 and 4 litres per gallon. This is the official price. The government claims that this price would have been subsidized at N73/litre and that the true price of a litre of petrol in Port Harcourt is N138/litre or $3.52 per gallon. They are therefore determined to remove their subsidy and sell the gallon at $3.52. But, On December 10, 2011, if you stopped at the Mobil Gas station on E83rd St and Flatlands Avenue in Brooklyn, New York, USA, you would be a able to buy a gallon of petrol for $3.52/gallon. Both gallons of petrol would have been refined from Nigerian crude oil. The only difference would be that the gallon in New York was refined in a US North East refinery from Nigerian crude exported from the Qua Iboe Crude Terminal in Nigeria while the Port Harcourt gallon was either refined in Port Harcourt or imported. The idea that a gallon of petrol from Nigerian crude oil cost the same in New York as in Port Harcourt runs against basic economic logic. Hence, Nigerians suspect that there is something irrational and fishy about such pricing. What they would like to know is the exact cost of 1 litre of petrol in Nigeria . We will answer this question in the simplest economic terms despite the attempts of the Nigerian government to muddle up the issue. What is the true cost of a litre of petrol in Nigeria ? The Nigerian government has earmarked 445000 barrel per day throughput for meeting domestic refinery products demands. These volumes are not for export. They are public goods reserved for internal consumption. We will limit our analysis to this volume of crude oil. At the refinery gate in Port Harcourt, the cost of a barrel of Qua Iboe crude oil is made up of the finding /development cost ($3.5/bbl) and a production/storage /transportation cost of $1.50 per barrel. Thus, at $5 per barrel, we can get Nigerian Qua Iboe crude to the refining gates at Port Harcourt and Warri. One barrel is 42 gallons or 168 litres. The price of 1 barrel of petrol at the Depot gate is the sum of the cost of crude oil, the refining cost and the pipeline transportation cost. Refining costs are at $12.6 per barrel and pipeline distribution cost are $1.50 per barrel. The Distribution Margins (Retailers, Transporters, Dealers, Bridging Funds, Administrative charges etc) are N15.49/litre or $16.58 per barrel. The true cost of 1 litre of petrol at the Mobil filling station in Port Harcourt or anywhere else in Nigeria is therefore ($5 +$12.6+$1.5+$16.6) or $35.7 per barrel . This is equal to N33.36 per litre compared to the official price of N65 per litre. Prof. Tam David West is right. There is no petrol subsidy in Nigeria . Rather the current official prices are too high. Let us continue with some basic energy economics. The government claims we are currently operating our refineries at 38.2% efficiency. When we refine a barrel of crude oil, we get more than just petrol. If we refine 1 barrel (42 gallons) of crude oil, we will get 45 gallons of petroleum products. The 45 gallons of petroleum products consist of 4 gallons of LPG, 19.5 gallons of Gasoline, 10 gallons of Diesel, 4 gallons of Jet Fuel/Kerosene, 2.5 gallons of Fuel Oil and 5 gallons of Bottoms. Thus, at 38.2% of refining capacity, we have about 170000 bbls of throughput refined for about 13.26 million litres of petrol, 6.8 million litres of diesel and 2.72 million litres of kerosene/jet fuel. This is not enough to meet internal national demand. So, we send the remaining of our non-export crude oil volume (275000 barrels per day) to be refined abroad and import the petroleum product back into the country. We will just pay for shipping and refining. The Nigerian government exchanges the 275000 barrels per day with commodity traders (90000 barrels per day to Duke Oil, 60000 barrels per day to Trafigura (Puma Energy), 60000 barrels per day to Societe Ivoirienne de Raffinage (SIR) in Abidjan, Ivory Coast and 65000 barrels per days to unknown sources) in a swap deal. The landing cost of a litre of petrol is N123.32 and the distribution margins are N15.49 according to the government. The cost of a litre is therefore (N123.32+N15.49) or N138.81 . This is equivalent to $3.54 per gallon or $148.54 per barrel. In technical terms, one barrel of Nigerian crude oil has a volume yield of 6.6% of AGO, 20.7% of Gasoline, 9.5% of Kerosene/Jet fuel, 30.6% of Diesel, 32.6% of Fuel oil / Bottoms when it is refined. Using a netback calculation method, we can easily calculate the true cost of a litre of imported petrol from swapped oil. The gross product revenue of a refined barrel of crude oil is the sum of the volume of each refined product multiplied by its price. Domestic prices are $174.48/barrel for AGO, $69.55/barrel for Gasoline (PMS or petrol), $172.22/barrel for Diesel Oil, $53.5/barrel for Kerosene and $129.68/barrel for Fuel Oil. Let us substitute the government imported PMS price of $148.54 per barrel for the domestic price of petrol/gasoline. Our gross product revenue per swapped barrel would be (174.48*0.066 +148.54*0.207+172.22*0.306+ 53.5*0.095+129.68*0.326) or $142.32 per barrel. We have to remove the international cost of a barrel of Nigerian crude oil ($107 per barrel) from this to get the net cost of imported swapped petroleum products to Nigerian consumers. The net cost of swapped petroleum products would therefore be $142.32 -$107 or $35.32 per barrel of swapped crude oil. This comes out to be a net of $36.86 per barrel of petrol or N34.45 per litre. This is the true cost of a litre of imported swapped petrol and not the landing cost of N138 per litre claimed by the government. The pro-subsidy Nigerian government pretends the price of swapped crude oil is $0 per barrel (N0 per litre) while the resulting petroleum products is $148.54 per barrel (N138 per litre). The government therefore argues that the “subsidy” is N138.81-N65 or N73.81 per litre. But, if landing cost of the petroleum products is at international price ($148.54 per barrel), then the take-off price of the swapped crude oil should be at international price ($107 per barrel). This is basic economic logic outside the ideological prisms of the World Bank. The traders/petroleum products importers and the Nigerian government are charging Nigerians for the crude oil while they are getting it free. So let us conclude this basic economic exercise. If the true price of 38.2% of our petrol supply from our local refinery is N33.36/litre and the remaining 61.8% has a true price of N34.45 per litre, then the average true price is (0.382*33.36+0.618*34.45) or N34.03 per litre. The official price is N65 per litre and the true price with government figures is about N34 per litre (even with our moribund refineries). There is therefore no petrol subsidy. Rather, there is a high sales tax of 91.2% at current prices of N65 per litre. The labor leaders meeting the President should go with their economists. They should send economists and political scientists as representatives to the Senate Committee investigating the petroleum subsidy issue. There are many expert economists and political scientists in ASUU who will gladly represent the view of the majority. The labor leaders should not let anyone get away with the economic fallacy that the swapped oil is free while its refined products must be sold at international prices in the Nigerian domestic market. The government should explain at what price the swapped crude oil was sold and where the money accruing from these sales have been kept. We have done this simple economic analysis of the Nigerian petroleum products market to show that there is no petrol subsidy what so ever. In the end, this debate on petrol subsidy and the attempt of the government to transfer wealth from the Nigerian masses to a petrol cabal will be decided in the streets. Nigerian workers, farmers, students, market women, youths, unemployed, NGO and civil society as a whole should prepare for a long harmattan season of protracted struggle. They should not just embark on 3 days strike/protests after which the government reduces the hiked petroleum prices by a few Nairas. They must embark upon in a sustainable struggle that will lead to fundamental changes. Let us remove our entire political subsidy from the government and end this petroleum products subsidy debate once and for all. It is time to bring the Arab Spring south. Izielen Agbon Izielen Agbon writes from Dallas, Texas. izielenagbon@yahoo.com He is former HOD , Petroleum Eng Dept, former ASUU chairman University of Ibadan, trained many operators in nation's energy industry with pratical experience on our practices and policy focus in the last 20yrs |
| Business › Re: PHCN Will Cease To Exist From 2012: Minister Of Power by pheesayor(op): 7:31pm On Dec 12, 2011 |
He later tweeted saying "Keep on tweeting I am reading all your tweets" with this picture. Twitter handle is @ProfBartNnaji, don't forget the hasgtag #NGPower
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| Business › PHCN Will Cease To Exist From 2012: Minister Of Power by pheesayor(op): 7:29pm On Dec 12, 2011 |
Nigeria's minister of power, Professor Barth Nnaji held an interactive session earlier today on twitter with the hashtag #NGPower The tweet meet started past five, he actually came late as he was meant to start by 5 pm as earlier announced. He started by apologising. Professor Barth started by responding to questions asked, saying there is a plan and it is captured in the power sector road map and that more licenses have been given out and that 40,000MW is targeted. He said there is no policy barring states from generating power that states and anybody can generate power. He cited Lagos and Rivers states as states currently generating power. The high point came when he said PHCN will stop existing by 31stDecember 2011, replacement wasn’t stated but he assured that all PHCN staffs will not lose their jobs that they will be absorbed by successor companies. PHCN corporate headquarter will be shut down, successful companies in distribution, generation and transmission will function. He went ahead to say a wind farm project in Katsina is expected to completed by the 3rd quarter of 2012. He said there are a lot of policies on ground for prospective investors and that more information will be out by the end of January 2012. Someone asked about metre payments and he said NERC has been contacted and that they have removed extra metre charges. He proceeded saying three coal-fired station are to be set up in Enugu, Gombe and Benue states with generative capacity of 1000MW each and that in addition, 2600MW hydro plant Mambilla Plateau state and 700MW in Zungeru Niger state. HE also said the installation of thousands of transformers across the country to improve power distribution is ongoing. In his words “When we came at 2010, the generation was at 2800MW . We have improved it to over 4000MW”, “We have established the Nigerian Electricity Bulk Trading Company www.nbet.com.ng”, “We have re-established NERC, a strong regulator has been put in place to regulate the industry”, “The activities of the Bulk Trader are to act as a stand between the generating companies and the distribution companies”, “The activities of the Bulk Trader are to act as a stand between the generating companies and the distribution companies” , “We've gotten World Bank to provide the partial risk guarantee for gas and power. In support of the reform process”, “Increased power supply across the country as reflected in increase of quantum of 2800MW to over 4000MW as of today” ,“We have also got OPIC to provide a 1.5 billion dollars investment window to support the nigerian power sector” , “It takes 3-4 years to complete a power plant if all necessary things are in place.Based on this we project continuous improvements”, “You can also visit our website http://www.power.gov.ng/ to find out more about the activities of the ministry” , “CBN has provided the power intervention fund to support the power sector” , “The new tariff will provide a major incentive for new investment in the sector” , “We have paid PHCN workers N57 billion , have agreed on their 50% salary increase, agreed to convert 11,000 casual to regular staff”, “It is our long term goal that the Nigerian power market reaches a point of stability for a willing-buyer, willing-seller mode” . He went ahead to say there will be new tariffs which will be announced by NERC next year arguing that Nigeria pays one the lowest electricity tariff in Sub Saharan Africa except Zambia. HE replied someone saying Nigeria supplies power to Niger, Chad and Benin. He ended saying , “I want to assure Nigerians that we are doing everything necessary to boost power generation nationwide. It has been an engaging tweet-meet with you all. Further questions on other aspects of the reform could be forwarded to bart.nnaji@power.gov.ng. The tweet meet lasted about an hour http://pheesayor..com/2011/12/phcn-to-go-professor-barth-nnaji.html 1 Like |
| Politics › Re: The Damning Kpmg Report Fg, Nnpc Do Not Want Nigerians To See by pheesayor(op): 8:29pm On Dec 10, 2011 |
dustydee: |
| Politics › Re: The Damning Kpmg Report Fg, Nnpc Do Not Want Nigerians To See by pheesayor(op): 7:53pm On Dec 09, 2011 |
This audit was carried out in 2010, I wonder what we'll get if NNPC is audited right now |
| Politics › The Damning Kpmg Report Fg, Nnpc Do Not Want Nigerians To See by pheesayor(op): 7:52pm On Dec 09, 2011 |
On Thursday December 1, the Minister of Finance, Ngozi Okonjo-Iweala, cringed when the senate joint committee investigating the management of funds set aside for petroleum subsidy handed her a seven-day ultimatum to produce a secret forensic report on the Nigerian National Petroleum Corporation in her custody. The audit, done for her ministry by renowned audit and advisory consultancy, KPMG, which exposed the massive financial malfeasance and monumental corruption in the NNPC, is one document the federal government, the petroleum ministry and the NNPC have worked hard to conceal for a little over a year now. The report, which could trigger a fierce face-off between the federal and state governments, is one of the most closely guarded secrets in Nigeria today. It contains shocking details of how the NNPC, and by implication, the federal government has been swindling the states. So when the committee requested Mrs. Okonjo-Iweala to produce it, she became a bit uneasy, knowing that doing so might embarrass the administration and sparked some troubles for the NNPC, a source close to her told the Times. Initially the minister didn’t make any commitment, but when pressed by committee members, she reluctantly acceded to the request. It is not known at press time whether she has sent the document to the committee. Contacted yesterday, her spokesperson, Paul Nwabuikwu, said he had no information on the matter. Calls to the chairman of the senate joint committee, Magnus Abe (PDP, Rivers), were unanswered. But as at noon today, long after the ultimatum given to Mrs. Okonjo-iweala expired, a source close to the committee said the minister was yet to make the report available. He said there was high-powered lobby by the NNPC not to make the document public. The damning report But the Times has scooped the report for you in case the minister fails to produce it or does so to the committee in camera. As far as the 41-page report is concerned, the NNPC is a cesspool of monumental corruption and fraud. The report detailed the corporation’s sharp business practices, violation of laid down rules and regulations, illegal deductions of funds belonging to the state, and failure to account for several billions of naira that should go to the federation account. The agency, the report says, has also severely defrauded our country in subsidy claims. Auditors found that between 2007 and 2009 alone, the NNPC over-deducted funds in subsidy claims to the tune of N28.5bn. It has not been able to account for the sum ever since. The over-deduction from its remittance to the federation account for 2010 and 2011, believed to be in several billions of naira, is not captured in the report. The Federal Government, through the Federal Ministry of Finance, hired KPMG and another Nigerian auditing firm, S.S. Afemikhe & Co., in July 2010, to look into the books of the corporation following allegations of “wrongful deductions at source by the NNPC to fund its operations” by the 36 state governors. There were also concerns at the time that “the procedures for managing and reporting the country’s crude oil and gas revenues are opaque and characterized by gaps, overlaps and inconsistencies in the role of key parties responsible for the assessment, collection and reporting on these revenue streams.” Officials of the petroleum ministry and the NNPC, a source at the finance ministry disclosed, developed cold feet after the auditors were sent in, and indeed tried hard to frustrate the representatives of the two audit firms by failing to supply evaluation criteria for commercial bids submitted in respect of petroleum products importation. Believing that would turn the auditors away, our source further explained, the corporation also failed to provide them with other relevant documents such as the criteria for allocation of products and product volumes to importers/suppliers and periodic prequalification list of approved products importers/suppliers. But in spite of the difficulty they faced, the auditors were able to determine that the NNPC had been anything but transparent in the management of our country’s oil resources. The report that emerged from the audit was just too damning that the leadership of the petroleum ministry, the NNPC and some few other elements in the Federal Government have worked hard to keep it away from the 36 state governors and federal lawmakers in particular and Nigerians in general. Stealing the states blind In what is likely to anger state governors, the audit established that the corporation was in the habit of arbitrarily estimating subsidy claims and then over-deducting funds from proceeds of domestic crude sales. “For example,” the report said, N25bn was deducted as subsidy estimate for September 2009 from domestic crude sales proceeds while PPPRA approved a subsidy of N23.8bn. N35bn was also deducted as subsidy estimate fro November 2009 but PPPRA approved of N21.3bn.” The auditors’ analysis indicates “over-deduction for these two months amounted to N14.9bn. However, only N4.2.bn was swept into the Federation Account by the NNPC as adjustment for subsidy claimable in the two months.” That is beside the N11.8bn subsidy claim the NNPC claimed it paid for imported products that didn’t reach consumers. State governors have always complained that the NNPC was shortchanging them through illegal deductions from revenues payable to the federation account. Fraudulent underhand tactics Over-deduction is however not the only way the corporation is defrauding the federal and state governments. According to laid down regulations, the NNPC is invoiced in dollars for domestic crude allocations but is expected to remit the equivalent naira value to the Federation Account. But auditors found to their chagrin that in doing that, the corporation used exchange rates far lower than those published by the Central Bank of Nigeria. Using this “fraudulent underhand tactics”, the NNPC succeeded in cheating the three levels of government of a whooping N85.2bn in three years – N25.7bn in 2007, N33.8bn in 2008 and N26.7bn in 2009. When the auditors requested explanations for these exchange rate disparities, the NNPC claimed it obtained the exchange rates it used from the CBN via telephone. The report also severely indicted the NNPC over the shoddy and non-transparent manner it renews crude sale contracts every year. The auditors noted that “evaluation criteria for renewal of contracts are not clearly stated in the contract document”, and that the selection exercises were based on individual discretion and wrong assumptions and criteria.” The NNPC claims that renewal of contract was based on performance of off-takers (buyers). But the auditors observed that the basis and process for determining performance were not clearly defined. The auditors wondered why in 2007 and 2008, some companies not on the approved list of buyers for that year were allocated crude, a practice the examiners believe had led to crude being sold to non-credible buyers, even with relevant guarantees and safeguards not implemented. Specifically the auditors queried the allocation of crude to Ovlas Trading (2, 852,316 barrels in 2007 and 906, 269 barrels in 2008) Petrojam (2,818,914 in 2007), Oil Fields (950,166 barrels in 2007) and Zenon (906,000 barrels in 2008) even when they were not on the list of authorized buyers for that year. Contracts for the importation of products, the auditors wrote, were also routinely awarded without regard for approved guidelines and procedures. “We observed that contracts for the importation of petroleum products were awarded to companies and suppliers not listed in the approved prequalification list used for the fourth quarter 2008 importation,” the report noted. The auditors specifically queried the award of contracts in that manner to Astana Oil Corporation Limited, Natural Energy and Oando, when they were not prequalified for patronage that year. Among other forms of misdemeanour, ranging from poor accounting to shoddy record keeping, the auditors also indicted the corporation for leaving its own storage facilities, unused, and then proceeding to incur additional cost from leasing of third party storage facilities. The auditors reported that DPK tanks (with storage capacity of 18,000 cubic metres) at the PPMC depots within the Mosimi Area had not been used for three years even though there were in good condition. Yet the corporation, the examiners added, had been leasing storage facilities from third parties. The spokesperson of the NNPC, Levi Ajuonuma, declined to comment on the report, saying he had nothing to say until the government releases it officially. SOurce: http://premiumtimesng.com/index.php/news/3106-WORLD-EXCLUSIVE-The-full-KPMG-report-large-scale-corruption-and-fraud-the-NNPC.html |
| Health › Re: *~ GenBuhari Voted The Health Section Poster Of The Year *~ Congratulations! by pheesayor(m): 6:19pm On Dec 09, 2011 |
Odunnu:those I would have nominated have all left Balogun Naijaking1 Ajolayo Skidoc I nominate myself  |
| Music/Radio › Re: *~ Mikuz Voted Music/Radio Section Poster Of The Year*~ Congratulations! by pheesayor(m): 8:45pm On Dec 08, 2011 |
mikuz:was about saying the same thing lol javalove:Javalove, the mods will revive it, meanwhile u aint on twitter yet, or are you? You dey miss o |
| Politics › Re: Understanding The Sovereign National Conference By Beko Ransome-kuti by pheesayor(m): 2:58pm On Dec 08, 2011 |
the senaotors are there for the pockets, the opposition meant to curtail are also misbehaving  |
| Phones › Re: Whats the difference between Blackberry Bold 2 And Bold 3 by pheesayor(m): 2:41pm On Dec 08, 2011 |
The difference is in the internal memory and battery capacity. The bold 2(9700) has 256 mb of memory while bold 3 (9650) has 512mb of memory. Most of us like the efizzy and simplicity of the bb OS6. If you are ok with OS5 on your bold 2 then its excellent but if you must use OS6 then a bold 3 is better because it has double of the memory of bold 2. I use a bold 2 with OS 6 and I want to dispose it already cos starts hanging when i visit nairaland and other sites and eventually closes the window saying it is too large to open, that won't happen with a bold 3 or bold which has a 512 mb of ram 1 Like |
| Music/Radio › Re: *~ Mikuz Voted Music/Radio Section Poster Of The Year*~ Congratulations! by pheesayor(m): 12:59pm On Dec 08, 2011 |
tosinaded@:Our darling music/radio section has become an advert section flooded with different posters posting about same songs on multiple threads. This turns many people off especially as we can now catch up with each other on twitter. It's quite sad though cos I miss those days |
| Music/Radio › Re: *~ Mikuz Voted Music/Radio Section Poster Of The Year*~ Congratulations! by pheesayor(m): 12:54pm On Dec 08, 2011 |
I nominate tosinaded@ and amblors |
| Celebrities › Re: Blackface Forcefully Ejected From Apartment (Pic) by pheesayor(m): 11:39am On Dec 05, 2011 |
nanidee:someone who co-wrote african queen which was meant to be a plantashun boiz song is who you called most talentless? FYI, he is the most talented amongst the three |
| Phones › Re: Nairaland Mobile Vs Nairaland Full Html: Which Do You Prefer? by pheesayor(m): 4:56pm On Nov 29, 2011 |
the mobile is the best for blackberry OS6 users especially bold 2 and curve3 running OS 6. The full html crashes the browser by causing low memory issues. |
| Politics › Re: Farmers Besiege Osun Assembly Over Alleged Inhuman Treatment by pheesayor(m): 1:14pm On Nov 29, 2011 |
Crescent_d:oya beaf, ACN hater respond to this!!! |
| Phones › Re: What Is The Matter With Glo (globacom) Network? by pheesayor(m): 10:15am On Nov 29, 2011 |
solla22:GLO is good and bad, excellent in some areas and below par in some areas. Also glo is weak inside buildings, you go into some houses and 3G turns GSM, that's horrible |
| Literature › Re: Do You Blog? by pheesayor(m): 8:50pm On Nov 23, 2011 |
I've started a couple of google () blogs, still continue with some but have left some http://pheesayor..com http://healthyytips..com (discontinued) and a couple of others I can't remember right now |
| Celebrities › Re: Is Wole Soyinka Truely One Of The Founding Fathers Of Cultism ? by pheesayor(m): 6:45pm On Nov 23, 2011 |
The failure of successive governments to arrest the the menace has made it this big. From my research all of them claim they've left the university system but you still find them there. Some even go as low as secondary schools. Until government is sincere with this fight against cultism, it will continue. The pyrate confraternity left the school system when rival copy cat envious bodies started springing up, mention any cultist clash in the past years and you will never find pyrates mentioned. Y'all should leave Professor Wole Soyinka alone |
| Politics › Re: EFCC Chairman Farida Waziri Has Been Sacked! by pheesayor(m): 1:09pm On Nov 23, 2011 |
Mallam Nasir El Rufai's response on twitter "Farida Waziri has been removed by GEJ before the expiration of her term. This is contrary to the EFCC Act and illegal. We must all stand up for rule compliance even if we do not like the victim. We stood up when Nuhu was similarly treated. It is wrong! Farida Waziri was the instrument of my years of persecution by Yar'Adua & GEJ. I don't like her. But that is personal, her removal illegal! The EFCC Act requires GEJ to show cause - insanity, incapacity, not in public interest, etc. No reasons given. She did not resign. WRONG!! All I am saying is that when leaders do not act in compliance with the law, we must question. It is Farida Waziri today. It will be you soon Let us not celebrate this because we think Farida is a scumbag. Let us stand up & question because of non-compliance with the EFCC Act. Farida's tenure is supposed to end in May 2012. My persecution started the day she took office. So I am not her advocate personally. Farida was neither competent nor honest. Trial by headlines was her landmark. Plea bargains with the corrupt her specialty. [/b]But Her tenure had not ended, & if it is to be prematurely terminated, it must be done in accordance with the law. [b]They did it to PCA Salami too .This GEJ administration revels in gross violating the law & surprised that Nigerians are resorting to taking the law into their own hands!! . When leaders break the law with impunity, they should expect that sooner or later, every citizen will join & settle disputes via self-help!! " http://pheesayor..com/2011/11/farida-waziri-sacked.html |
| Politics › Re: EFCC Chairman Farida Waziri Has Been Sacked! by pheesayor(m): 11:47am On Nov 23, 2011 |
President Goodluck Jonathan has unexpectedly fired the head of Nigeria’s anti-corruption agency Economic and Financial Crimes Commission. A spokesman for the Economic and Financial Crimes Commission (EFCC) said Wednesday that chairwoman Farida Waziri had been fired. Spokesman Femi Babafemi said Waziri had at least another year left in her tenure. Babafemi says agency deputy Ibrahim Lamurde has been appointed acting chairman. He said he did not know the president’s reason for firing Waziri. Waziri and a presidential spokesman could not be immediately reached for comment. Waziri has been criticized by U.S. diplomats in leaked cables for being unprepared and for apparently being controlled by politicians. Others have leveled corruption allegations against her and operatives of the commission, though none have been proven. Farida has been less than a shadow of the previous anti-corruption czar Nuhu Ribadu who was removed by former President Yar’ Adua to prevent same from trying his friends. Meanwhile reactions are already trailing the sack. Professor Pat Utomi post thus on his facebook page: "With this change, let me advise the Federal Government that the only way to ensure that the EFCC is effective in fighting corruption, which is the bane of Nigeria's development, is for the executive to give that agency complete autonomy and independence and this can only be done if the law creating the agency is amended to ensure its independence. PU" She has since been replaced with Ibrahim Lamorde, Nuhu Ribadu's deputy in acting capacity http://pheesayor..com/2011/11/farida-waziri-sacked.html |
| Phones › Re: Beware Of Glo's Bogus Cards by pheesayor(m): 10:10am On Nov 23, 2011 |
mine still hasn't worked up till this moment |
| Politics › Re: Chronicles Of The Clueless King Chapter 1 by pheesayor(op): 9:15am On Nov 22, 2011 |
Hugozia ---> Ngozi Okonjo Iweala Humoki ---> Reno Omokri Mary the Oga ---> Marilyn Ogar King Barak ---> Barak Osama Mallama Elrufar ---> Nasir El Rufai Okonto Dougas ---> Oronto Douglas (Reno's boss) Damn Queen Gbags ---> Dame PJ |
| Politics › Chronicles Of The Clueless King Chapter 1 by pheesayor(op): 8:22pm On Nov 19, 2011 |
Found this piece very hilarious but very true, enjoy [b]In the first year of the jubilee of Naijaria in the year the great King Barak killed Osaman the Alquaedite, there rose a King from the West of Africa in Naijaria. At the beginning of his reign an Angel appeared to me and I was caught up in this vision. This book is the book of the records as the angel showed me through the land of Naijaria.Written by Japhet Joshua Omojuwa Source http://omojuwa.com/?p=1862 |
| Phones › Re: MTN Crashes Blackberry Price To N1500 For Full Package by pheesayor(m): 10:08am On Nov 17, 2011 |
I switched to glo because airtel's 1gb bis was not sufficient for me, usually exhausted in three weeks. Glo is 3gb for 1,400. MTN's 200mb for full monthly bis  So unfortunate. Glo's co-daily is 100mb and co-weekly is 700mb. This is a weak attempt by mtn |
| Politics › Police Disperse "hunger Strike Day" Protest In Abuja - Saharareporters by pheesayor(op): 3:23pm On Nov 11, 2011 |
The Nigerian Police on Friday morning dispersed the members of Nigerian Youth Council who converged at Unity Fountain beside Transcorp Hilton Hotel Abuja to stage a hunger strike protest. The protesters who are arriving the venue in small numbers met a stiff resistance from anti-riot policemen who laid ambush at strategic locations around the fountain. The leader of the "protest", Olawale Ajani, who was recently "detained" by the SSS quickly retreated as policemen emerged from all corners to stop his team. Mr. Ajani, a fervent supporter of president Goodluck Jonathan, who bragged about leading 60 million Nigerian youths had chosen today- 11:11:11-and declared "HUNGER STRIKE DAY" by his National Youth Council of Nigeria (NYCN) to protest against the removal of oil subsidy by the federal government. The controversial oil subsidy removal which has generated condemnation across the Nigerians home and abroad. The Nigerian Labour Congress (NLC) recently described the move as ploy to further impoverish innocent Nigerians just as Action Congress of Nigerian (ACN) said it is an invitation to anarchy. Also Nigerian Bar Association (NBA) said that it will use every legal options available at its disposal to stop it. Civil society groups had threatened to fight and said they were ready toshed blood to resist the satanic plan. The World Bank also lend its voice calling the Federal Government to exercise caution in its plan to remove oil subsidy. But despite these condemnation from different quarters the Goodluck Jonathan regime has remained defiant as it speculating the appropriate date for the oil subsidy removal to take effect. Police in Abuja this morning barricaded major road with armour tanks along Transorp Hilton Hotel - Federal Secretariat . Also armoured tanks were seen in different part of the city centre such as Berger roundabout.
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