₦airaland Forum

tit:
clowns and idiots.
the girls can never be released to the public or else they will say which government lodge or military barracks they have been kept in.

They will certainly police the hell out of their lives.

That is after several brainwashing programs by world renown psychologists have been done.

But, nothing can be hidden forever.

One of the grandest international conspiracies (mysteries) in human history.

Mission accomplished.

All Chibok girls are returning home from the safehouse(s) where they are being safely kept.

All is well that ends well.

It will take another "leak" to know what happened.

For now, we shall live with their orchestrated narratives.

One of the grandest international conspiracies (mysteries) in human history.

Mission accomplished.

All Chibok girls are returning home from the safehouse(s) where they are being safely kept.

All is well that ends well.

It will take another "leak" to know what happened.

For now, we shall live with their orchestrated narratives.

Obiagelli:
347 people killed someone must answer for this.

It is a crime against humanity that has been documented and filed appropriately.

This is 2016.

MadCow1:
Do you comment for likes? Okay, I just gave you 1..

I was not expecting fixing the problems with Nigeria to be easy.. The Dams and turbines are obsolete, Gas lines being vandalised daily, what do you expect?

If they are shutting down fully, I have no problem, as long as any moves the Government makes going forward are all geared towards a long term solution.



All I will ask President Buhari to do is be transparent. Give us undiluted truth on the situation of things on the ground. Whats responsible for these issues and what moves is he making to fix them. Thats all we can ask..

Eni oye tu le lori ko se ba sere mon.

Dee60:
So Nigeria should continue as the dumping round of all kinds of Made in Chuna junk, because Customs want to collect more duty?

Where is the USD to fund that? I am dissapointed that a CEO will push this kind of argument.

We want more local production and export. If China can produce, so can we.

Are you aware that Customs was given a revenue target based on the same 'dumping from China'.

Why was there a revenue target on import duties, why not just restrict it to excise duties and export duties?

ATERI:
Capital flight is the pain you must be ready to endure if you want to stop casino capitalism in your country. It`s the madness that started during the Obasanjo era and continued with Jonathan when people believed that foreigners can be relied upon to develop the economy. Look at what happens around the world, once you make a slight adjustment in favour of the domestic economy, casino capitalist would be on the run. They are only happy with blind privatization and liberalization that hand over the economy and the country over to them so that they can turn Nigeria into the type of apartheid soceity that Britain and America have long been. Buhari needs to be steadfast, the investors that are looking for quick bucks would leave, the ones that are genuine investors want a society in which they can operate smoothly and make profits. What the governments need to do is to provide an enabling environment: deal with irregular power supply, let fuel be widely available, provide security and tackle reckless corruption so that genuine investors won`t sweat for the basic amenities needed to do business. Anyone that is not happy with Buhari`s reform should leave our country and go to South Africa where a tiny minority control the economy while the majority ( mainly blacks) eat the crumbs that fall from their table. Foreign investors, my ass!!

Buhari is not reforming anything. He is taking the country back to the medieval times.

If you term this non-performance, lack of direction, lazy knee-jack approach to problem solving reform, then you do not understand what is called reforms. Pray, what are the reforms anchored on?

On the one hand you would praise Buhari going round the whole world without a single business team and coming back almost empty handed without a concrete investment commitment or proposal by any serious investor, on the other hand you would jubilate the exit of badly needed foreign capital that has assisted in stimulating the financial system for years now. Are you not confused?

The financial markets that you crudely labeled 'casino' includes investors in government bonds. People who buy government assets to enable government fund its projects operate in the so-called 'casino'. Part of Buhari's borrowing plans to fund the 2016 budget is to sell bonds as you may be aware. Won't it be counterproductive to demonize your creditors.

The efforts of the last administrations since 1999 in modernizing the financial system and positioning it for effective financial intermediation and capital accumulation can only be appreciated by forward looking educated folks. For barely educated 'messiah' clamoring people, it is like speaking Greek.

greenpasture:
Obviously neither you nor the reporter know how markets work.

The report spoke of the repatriation of profits which would be dividend bonuses and capital gains. This is not the same as selling the principal investments. Secondly, market reputation needs investors to be able to enter and exit in an orderly manner. If investors cannot exit at will then the market fails. Rather than being seen as bad news, this is very good news. Foreign portfolio investors repatriation profits and gains is NOT bad news. What is bad news is if strategic investors such as Diageo, Coca Cola, Guinness etc sell out their equity stakes in Nigerian companies. This is not happening. In fact Coca Cola have made a major investment in Chivita. Portfolio investors on the other hand enter and exit markets at will looking for short term gains. They have no loyalty to any country or market. These are the people repatriating profits, which is to be expected.

When trying to knock a government it is important to understand the issues clearly before making your point. Hatred of all things Buhari or APC should not drive us to embarrass ourselves.

You don't have to comment on every story, just because it is on the front page. Wait for areas and times in which you can make a worthy contribution. The more you do this, the more you will have the ability to analyze events in a powerful and effective way.

Repatriation of your entire profit is also a sign that the market's outlook is significantly negative. It is not a positive. .

A percentage of your profit is re-invested in the market if the near to midterm outlook is positive. As you can see, this is not happening.

The market reputation you spoke about has been significantly damaged by the monetary policy which led to the JP Morgan removal of the naira from its index. Simply put, the free entry and exit of capital has been restricted for the better part of the last ten months of Buhari's government.

http://www.bloomberg.com/news/articles/2015-09-08/jpmorgan-to-remove-nigeria-from-emerging-market-bond-indexes

Even though this particular report dwells on profit taking, you are laboring to assume that there's positive market sentiment. The opposite is the case, as can be seen from aggregate downward movement of the ASI for the past months.

The reason there's no massive capital flight from the NSE in the sense of divestment could be that the CBN is not making forex available for the foreign investors.

Even though Coca Cola made a hostile takeover of Chivita to protect its market share, a deal that predates Buhari's utterly failed presidency, other brands have not fared better. A Bloomberg report quoted the Nestlé chief executive as throwing a jab at the current monetary policy.

You people who defend this government at all cost should stop assuming that people have short memory. Everything has happened in the open and it is unlikely that everyone would be so daft to forget so soon.

It was not long ago that Oshinbajo said openly that they are not bothered about portfolio investments.

repogirl:
I keep hearing diversification, diversification... And it's funny.

Boooooohari and his stiff policies are chasing away these same investors that are supposed to invest in the 'diversification' projects and some zombies are happy, hailing him.

Who will give you the necessary capital to ensure this 'diversification' actually happens when all of them are fleeing from our economy? Abi is the diversification from the budget also?

Funny.

My sister, you won't believe these people are adults. It's almost like they are under a strong spell.

Quakertellicus1:
Wailers....food is ready.

On a more serious note...

The problem is that we are not earning enough forex from oil. And we should have saved money last time....but GEJ somehow did not improve on Yaradua's success in raising our ECA to 60bn....he knocked it down to 32bn.

Let's be frank, we have a situation where we are no longer earning enough from oil.(And we are going to earn less as the glut continues) And PMB is not doing what needs to be done....cutting subsides, raising taxes, spending more on power and transport...so that eventually Nigeria would be able to get off oil for good.

Nigeria needs to be free from oil. We need to become a manufacturing power....who manufactures goods for the export market...so that we can be like China....a superpower who gives loans to other poor nations.

So....if you want your ECA imporved....you have to go manufacturing. Oil is a spent force.

Where did you get your $60bn balance on ECA?

Do you even bother to know what ECA mean?

Or you are just hearing people saying it and decided to say it too?

Isn't it better to have an understanding of something before subjecting yourself to public embarrassment?

Stupedinluv:
I love women that are smart but Diezani is not one of them

She studied architecture in England and then at Howard University in the United States.[2] She graduated from Howard with a bachelor's degree on 8 December 1992.[3] She returned to Nigeria and joined Shell Petroleum Development Corporation that year. In 2002, she attended Cambridge University for her MBA.[2] In April 2006, Shell appointed her its first female Executive Director in Nigeria.[4]

https://en.m.wikipedia.org/wiki/Diezani_Alison-Madueke

They will attribute even rainfall in the rainy season to Buhari. That's what 'worshipers' do for their gods.

Meanwhile, recall that it was in that trip and in desperation of 'stabilizing World Oil Price' that he pledged Nigeria to an Islamic Countries Coalition Against Terrorism, and also promised the Palestinians to make Jerusalem the capital of the Palestinian State.

Two key promises they extracted from him as part of the so-called negotiations for his wishful 'World Oil Price Stability'.

arresa:
Have you investigated and found the claim to be false?


Obviously, you are the one insulting your own intelligence with your own bogus and premature conclusion ..

Ha ha ha ha ha ha...

How do you begin to investigate 'SOMEWHERE'?

Where do you start and end?

disloman:
Must we play politics this way?I doubt if 95% of those who read the news understand what they just did.This action happened before he was president.These youth of this country are becoming nuisance.I'm sorry if you feel insulted but that's the truth.

Don't mind them.

They are misguided youths.

They didn't know that his first daughter married an Anambra (Igbo) Christian man.

Ha ha ha ha ha ha ha.

Auction: Land for sale!

The only 'former head of state without a single plot of land or house outside Kaduna and Daura' is now selling his land in 'Lagos and Somewhere' to buy Deutsche Marks and French Francs.

Going, going, gone!

GenBuhari:
mischievous journalism.

How does delay in raising prices amount to subsidy?

Clearly there is a margin that has been worked into the pricing template so it does not always immediately translate into subsidy if the fuel price is not raised when crude prices rise, because rather than go over into subsidy, it could just be eating into the allowed margin.

Clearly what must have happened is that the petroleum ministry decided it would not look good to increase fuel prices during this period of chronic scarcity.

They are likely going to increase prices mid to late April

What are you saying?

Before this statement is denied may we ask some salient questions?

Will Buhari send a supplementary appropriation bill to NASS quickly for this new expense to be approved so that they can be paid without hassles? Has he sent it already?

These people do their own governance by media pronouncements. No thorough due process is being followed.

Imagine saying queues will disappear in days just because they announced return of subsidy payments.

Didn't they reckon that the marketers would want a serious commitment on that before committing their funds? Do they think any intelligent person would believe anything Buhari and his government say with the way statements are being denied? Who are the pre-qualified importers by the way? How were they selected? Or are they the same companies we've always known?

Mr Buhari, stop using Nigerians as tools for your learning which you failed to do for 30 years. Nigerians are not cows, we are humans.

Where did he say that?

Buhari doesn't have any other reason for seeking office than a vindictive agenda and the ethno-religious hegemonic beliefs that he had professed for several decades.

All other things you people are saying enter from his right ear and leave through the left ear as quickly as they are said.

Added to his already made-up mindset about what he intend to do with 'power' is his very limited or lack of administrative capacity.

You cannot give what you don't have. We have been saying this for years but many Nigerians won't listen.

You can only expect performance from someone based on his/her capacity. Buhari's capacity to lead or govern at anytime is very limited. His capacity to govern Nigeria at this particular time is zero. Nigerians are way too sophisticated for him. Nigeria as a country is too modernized for such a person at this time.

Abati is not the first 'frustrated' admirer of Buhari to come public to vent their frustrations. Soyinka, Ashimolowo, etc have come out in some other ways. As you can see, he is not bothered about such public display of frustration by the 'wailers'. That is aside the fact that his core 'adherents' manufacture excuses for him every single minute.

How you people want the man to suddenly change his mindset and build the needed capacity at over 70 years is not known.

Reference:
I don't know the details of the pact but is there anything stopping the DISCOS generating their own power (owning their own power plants/stations). At least they can build booster stations.

All Ikeja DISCO has to do is buy a plots the size of a football field each and array it with high capacity diesel generators all synced. 500 kva plants are considered optimal. It can start with 200 units giving approximately 100 megawatts and expand capacity with earnings. No doubt the power will be more expensive but the on-going fuel scarcity and the GSM roll-out of the past has proven that price is of secondary importance to availability.

This is exactly the kind of wishful thinking and grand delusion that Fashola was heard spewing about a year ago.

Why are you people always sleep walking?

We are not talking of writing an entry for a fictional essay competition. We are talking of production/generation of electricity.

Why not just be reading comments.

Hypocritical cowards.

Instead of directing their anger at the NEPA bill certificate holder who put everyone in this mess, they are boring us daily with cowardly diversion.

It was Ibe Kachickwu that was assailed the other day instead of the defacto petroleum minister.

It is now the turn of PHCN and Lagos State government.

Cowards!

Why not call Buhari and tell him the truth?

chinchum:
i think the main news was left out, which is 9 bids has been received from firms to set up refineries at the same location 3 of Nigerian refineries are. I prefer the long term sustainable solution, and i think the bids are at least 6 months late, the bid committee should get to work already and award those competent enough to site refineries and get them running in less than 24 months.

Importing and oversupplying refined oil product which the previous admin used to solve the fuel scarcity issue was not a sustainable solution, it was a wasteful and unsustainable fix .

They are selling the refineries through the back door.

What happens to transparent disposal of these assets?

yaki84:
in the words of tinubu, only failures look back, lets look forward n think of ways to move naija forward. tinubu on his 8th colloquim.
gej is past, we r now in new era, era of the real cluelessness.
I heard awa I didnt award contract ex governor set a new record today, generating 0MW for 3hrs....
that means electricity generation is now ROCKET SCIENCE!

They are setting every available record now.

What do you expect from the first president to hold a NEPA bill certificate?

obailala:
'Unaccounted for'

Consult your dictionary.

See what hypocrisy is causing you.

So they are lost/stolen after all?

Itse Sagay is most intolerant of dissent. His reputation is going down every day. He is certainly being demystified on a grand scale.

Oby Ezekwesili is confused. Is Chibok girls scam not corruption? The same woman brought in a fake Chibok parent to impersonate the 'real Chibok parents' which was discovered. Is that type of scam less than exam malpractice?

obailala:
The last time I checked, Sanusi Lamido Sanusi also never stated that the NNPC funds were stolen. He only said the funds were unremitted/unaccounted for.

It means they are no longer 'missing' right?

It means they have been 'found'?

senior123:
NNPC is a govt institution. Meaning that they are not a private company ant they work for Nigeria. The get the govt salaries that is given to govt workers ate the levels in which they work. They are not entitled to any oil revenues. The money belongs wholly to Nigeria. Meaning that money goes into reserves for investments in projects across the country.

They have no claims over Nigerians money. It is not their money. Don't they get their salaries?

Much of your concerns are borne of lack of understanding.

Nigeria has an obligation to contribute to the funding of crude oil exploration. Nigeria has to pay its own counterpart funding for drilling the oil, in an agreed percentage.

In other words, the oil companies have to be reimbursed for the expenses incurred while taking oil from our land. It is a Joint Venture. It is after the expenses have been deducted from the amount due to us that the excess is transferred to the Federation Account.

Additionally, there are extant laws (that have not been repealed) which allows some revenue collecting agencies of government to deduct the cost of their operations from the proceed collected before remitting the excess to the Federation Account.

The NNPC acts as the Nigerian representative in the JV. They collect all the monies from the IOCs on behalf of Nigeria. They deduct the payables and remit the remainder to the national coffers.

These are the fundamental issues that need to be addressed. It is very glaring that the former opposition figures (who are now part of the governing elites) did not have the understanding then. Now that they are in the saddle, they don't know how to wriggle out of the 'corruption web' they has 'entangled' them.

Now, is there a risk of abuse of the process? Absolutely. But it's not everything that can be labeled as corruption.

The big problem is that Buhari and people in his camp have long disregarded rationality, opting to find any avenue at all to hit Nigerian institutions and call them names.

But their unfounded reasoning is now coming to hurt them. Everything they had accused past governments of doing will come to hunt them badly.

It's good for Nigerians. We will be able to see the 'CHANGE' very clearly.

obailala:
In circumstances like this, do you want to know the difference between this administration and the last one?

Under PMB: An investigation would be ordered and NNPC would be made to come out clean and explain the exact reason they aren't remitting funds. If their explanations don't hold water, they would be made to submit the funds.

Under GEJ: Upon hearing this story, GEJ in his unusually paranoid ways would quickly jump into defensive mode by becoming the spokesperson of NNPC. He would swiftly grant an interview where he would claim the report was generated by his political opponents to 'embarrass' his government; he would do this even before carrying out an investigation.

How come these funds are not said to be 'stolen'?

Why are they merely, 'not remitted'?

obailala:
Of course it isn't rocket science, 'rocket science' is something which is too difficult for the average mind to understand. But we all understand the reason behind the power outages, savages are bursting gas pipelines for fun.

"He attributed recent power outages in some parts of the country to four turbines which stopped working, but hoped electricity supply would be stabilized soon as three of the four turbines have been restored."

No single arrest, no punishment, no recompense for the loss.

No trial for murders.

Just to 'make peace' and possibly tell the 'farmers' that those 'territories' have been conquered and they should never resist the herdsmen in their conquered territories.

obailala:
The people who voted out the lootocratic government are definitely wiser. Oil prices were at over $100, your lootocratic heroes were busy doing what they knew how to do best, sharing our collective patrimony, byuing private jets like pure water and not bothering about saving a dime. GEJ met $47bn in reserves (in addition to over $20bn in the ECA account), but despite unprecedented earnings (the highest ever), he left about $28.6bn in the reserves (yet some zombies still argue that this was an achievement).

Even just before GEJ left power, when oil prices began to crash, the CBN forex reserve was crashed by $10bn in just 7 months (Oct 2014 - May 2015), the FG even borrowed to pay salaries early 2015 cos they had already shared the entire liquid cash in the treasury; and all these happened when oil was still selling above $60.

If there is ever anything Nigeria and Nigerians have ever done right, it was the removal of GEJ from power just before oil prices eventually crashed to $30 (it was really an urgent requirement for our survival). I cant imagine what would have become if GEJ was still in power when oil prices fell to $27-$30; Nigerians would have been queuing up and begging for food by now.

Are Nigerians not queuing up for food now? From Winners Chapel distributing food to hapless Nigerians in Osun State since last year to Daystar Christian Center distribution of food to Nigerians in Oregun this past week.

Where did you go?

And these are the reported cases.

greenpasture:
A large proportion of those bailout funds went to bank debts, the rest to the inefficient, over bloated " my friends and relations" civil service.

Your arguments are familiar to me. The basic error behind them is a misunderstanding of where wealth is located within the pyramid and which segment is needed to Kickstart sustainable growth. I can tell tell for sure it's people way down the pyramid, which I understand can be a tad upsetting to the educated, Internet savvy blue blood capitalist. But that's the way this game will play out. Best to adjust to that. Talk again in 18 months. I am off to inspect some cattle.

That's what you guys always say.

You said when Buhari takes over that things would be different, he took over, nothing. You said 'wait till he select his cabinet', he selected his cabinet, nothing still. You again said oh it's the budget, the budget is here - the N350b is in anticipation of the budget.

Now it's in 18 months time ehn?

What you guys do is relying on best case scenarios in your assumptions. Did you bother to check the outlook of the world economy in 3-6 months' time before jumping to 18 months? Do you know what the world would be facing in the next 3 months that would render this 'solution' very worthless?

Contractors have financial obligations to the banks, do you assume the banks would just sit back and allow contractors accounts to be credited by government and just give them everything? That would be extreme foolishness. Again, assuming the banks are able to restructure the facilities, these same contractors would need foreign exchange to re-equip their operations, or have we started producing construction equipment/machinery and their parts locally now?

By the same token, many of these construction workers are expatriates, who will naturally remit their salaries to their families in their home countries. Or do you want to stop them from doing that?

The worst of all is that rain has started. There's little anyone can achieve during the rainy season, most especially on road construction. If you bully them to go against nature with their limited technology you end up getting shoddy jobs from them.

Stop deceiving yourself, there's no wealth that can be created with salary. This money, we are told is to pay salary of contractors' workers and recall some that are already laid off. Some of these stuffs you guys say are not sensible, N350b paid to construction companies at this time cannot create any wealth for anyone. These workers are already down in arrears of house rents. Some borrowed money to pay their children's school fees. Some took loans for sundry household wares, while some have piles of bills including health related issues waiting for the 'bail-out'.

You do not have to wait for a single day in an economy. The stupid delays in the last 10 months have caused us serious problems that they can't handle.

When these contractors were shouting all through last year, urging governments to pay them for jobs completed, you guys didn't see any connections with the economy which we laboured to educate you on then. When they started laying off their staff as a consequence of the non-payment, what was your reaction? A certain government official even resorted to 'begging' them not to lay-off staff. You guys go from one ridiculous level to another.

Actions should be taken on continuous daily basis not on an intermittent sluggish manner like this bail-out.

Plus, you mentioned my bias for the markets. Yes, any analysis or solution outside the markets is foolish. Yes, the markets - the financial markets, institutions, oil market, currency market, Oyingbo market, labour market etc are part of the barometers to measure a nation's economic health. That's how modern economy works. It's not based on wishful thinking.