₦airaland Forum

Debaiz:
So between 2015 and now, $850m had grown to $9billion.


You self reason it does this make sense to you? Even if the interest rate is 100% per year will it have grown to $9billion in 4years?

wirinet:
I am not supporting the Nigerian government (whether Jonathan or buhari) for defaulting on a contractual agreement, my grouse is subjecting a contract entered into in Nigeria to British courts and laws. If you were the attorney general, would you go before a British judge an answer yes my lord? Or you want Nigerian lawyers who might not have license to practice law in the UK to study British laws and then go and defend the case.
The case should have been handled at the Nigerian courts.

bishopkay:
I know you don't have sense and normally I don't respond to fools but with you I'd make an exception.

You just wrote trash and because you think this is a blind forum you can come here to show case your foolishness huh? Just like your certificate less fraud of a master. What do you know about international trade laws? If the court which decided on this issue didn't have jurisdiction, Nigeria would have never honored the suit which led to all this.

Since you ask why did GEJ's government not pay the money settled out of court, I'd respond with a suiting reply to such a foolish question. Why did the election rigging rugarist not reject the Paris refunds? Why did he not reject the repatriated Abacha loot even after claiming abacha never stole a dime? He should have sent the money to obasanjo or Gej because their governments initiated the moves. So you benefit from the estate of a benefactor but refuse his liabilities?

Now to answer your question albeit foolish, You think being a president gives you unfettered access to approve a payment just like that? These things take time and process which his government no longer had and which I'm very sure buhari was notified about on the hand over notes he was given. He as normal with him simply dumped it as he was only interested in the name "President". The time line for the process began and Nigeria was not on the table courtesy buhari pulling out of the arrangements and asked to proceed to court (go and read up this case and how buhari has handled it so far). Government is a continuous process and buhari goofed big time in this. However I'm not surprised... He's been a failure all along and am I surprised you his supporter Is also this dumb? No... After all Like birds like they say, flock together and for the records, you can relocate to Iran and you can also get nuked with your family too while at it.

Read and develop yourself, you won't agree. Ozuo!

bishopkay:
I know you don't have sense and normally I don't respond to fools but with you I'd make an exception.

You just wrote trash and because you think this is a blind forum you can come here to show case your foolishness huh? Just like your certificate less fraud of a master. What do you know about international trade laws? If the court which decided on this issue didn't have jurisdiction, Nigeria would have never honored the suit which led to all this.

Since you ask why did GEJ's government not pay the money settled out of court, I'd respond with a suiting reply to such a foolish question. Why did the election rigging rugarist not reject the Paris refunds? Why did he not reject the repatriated Abacha loot even after claiming abacha never stole a dime? He should have sent the money to obasanjo or Gej because their governments initiated the moves. So you benefit from the estate of a benefactor but refuse his liabilities?

Now to answer your question albeit foolish, You think being a president gives you unfettered access to approve a payment just like that? These things take time and process which his government no longer had and which I'm very sure buhari was notified about on the hand over notes he was given. He as normal with him simply dumped it as he was only interested in the name "President". The time line for the process began and Nigeria was not on the table courtesy buhari pulling out of the arrangements and asked to proceed to court (go and read up this case and how buhari has handled it so far). Government is a continuous process and buhari goofed big time in this. However I'm not surprised... He's been a failure all along and am I surprised you his supporter Is also this dumb? No... After all Like birds like they say, flock together and for the records, you can relocate to Iran and you can also get nuked with your family too while at it.

Read and develop yourself, you won't agree. Ozuo!

MyGeneration:
they first settled out of court and agreed on $850million this was like 5 years back, the new government refused, interest has accrued plus legal fees too, all these could have been avoided, it was the new government that took them back to court after they had agreed on an out of court settlement of $850million dollars.

i know the money is huge, but in almost all the court Nigeria has taken the case to we have lost all.

AngelicBeing:
Gbam, Na real ozuo, you have time engaging some posters on here, when you tell them that the useless contraption foisted on us by lugard called Nigeria is not working, they will call you names, l am happy with the judgement, let the company go after the Eurobond, if this will lead to balkanisation of this useless contraption Called Nigeria, so be it, Nigeria is not working because it is headed by a useless demented scallywag belch by a village witch, it is better to balkanise the country into different regions than continue with this nonsense, most of the people posting on here are also suffering from the endemic hardship across the country. Nigeria is the current headquarters of extreme poverty, 6th most miserable country on earth and also a country where 21 states has been declared unsafe for western visitors.

I left Nigeria years ago but my whatsapp, email etc is full of request from different family members, friends and relatives who are dying of hunger and starvation daily in Nigeria, l am heartbroken for them l try to send money as much as I can to all of them but I can't solve all their problems and that is why I am pained to read daily of what Nigeria has turned into.

The country is dead completely and beyond redemption except the status quo changes or else Nigeria is doomed forever but zombies and patriotic citizens will disagree with you and me but they are trapped in that hell of a country

AngelicBeing:
Gbam, Na real ozuo, you have time engaging some posters on here, when you tell them that the useless contraption foisted on us by lugard called Nigeria is not working, they will call you names, l am happy with the judgement, let the company go after the Eurobond, if this will lead to balkanisation of this useless contraption Called Nigeria, so be it, Nigeria is not working because it is headed by a useless demented scallywag belch by a village witch, it is better to balkanise the country into different regions than continue with this nonsense, most of the people posting on here are also suffering from the endemic hardship across the country. Nigeria is the current headquarters of extreme poverty, 6th most miserable country on earth and also a country where 21 states has been declared unsafe for western visitors.

I left Nigeria years ago but my whatsapp, email etc is full of request from different family members, friends and relatives who are dying of hunger and starvation daily in Nigeria, l am heartbroken for them l try to send money as much as I can to all of them but I can't solve all their problems and that is why I am pained to read daily of what Nigeria has turned into.

The country is dead completely and beyond redemption except the status quo changes or else Nigeria is doomed forever but zombies and patriotic citizens will disagree with you and me but they are trapped in that hell of a country

sassysure:
U are indeed very angry
When u try to educate them, they will start whipping up emotions. Who governs with emotions?
Emotions don't lead u anywhere. Europe and other developed countries didn't use emotions to sea h where they are now.

bishopkay:
You couldn't have said it better! Every week in Nigeria I spend a minimum 20k to carry me not because I eat the whole 20k, I don't even ball but because I have a whole lot of dependants to take care of. Today it's school fees tomorrow it's pocket money and feeding money. These are not requests from my immediate family yet oo.

All this then some brain dead bastards come here and expect me to worship buhari! God punish all of them!

AngelicBeing:
I am not angry with Nigerians as a people but angry with the way few criminals called politicians has rendered the country a cesspit of poverty and darkness, out of a population of 200 million individuals, does it not shock you that the system can only throw up 2 thieves, Buhari and Atiku, mehn l don taya for Nigeria matter, make l drive to Starbucks Coffee and get some coffee

sassysure:
Salute.
Educate them very well.
I followed this case.
Not surprised it ended this way.
Buhari in his quest to rubbish everything Jonathan started took his hatred to international level but yet openly welcomed every dollar he he initiated the repatriation move.

Naira will take a swift dive again if care is not taken.
More economic woes as foreign investors will continue running.
What do we have?
Dangote and co?

bishopkay:
You couldn't have said it better! Every week in Nigeria I spend a minimum 20k to carry me not because I eat the whole 20k, I don't even ball but because I have a whole lot of dependants to take care of. Today it's school fees tomorrow it's pocket money and feeding money. These are not requests from my immediate family yet oo.

All this then some brain dead bastards come here and expect me to worship buhari! God punish all of them!

AngelicBeing:
So be it, anything to break up the useless entity is welcomed by me, tell me, what exactly are Nigerians enjoying since independence? No light, bad roads, dilapidated infrastructures nationwide, insecurity, kidnapping, cultism, ritualism, robbery, senseless killings, hunger, starvation etc so it is better to break the useless entity into 6 different countries and let all the individual countries pursue their God given potentials, enough of all this bulshit, the so called oil and gas in Nigeria is only benefiting few bastards, so let the contraption called Nigeria be balkanised or else Na continuous sufferings without hope of Eldorado, but watch as zombies and patriotic citizens will call me names now for saying the truth

sassysure:
We are enjoying yahoo yahoo, drug pushing, fulani herdsmen, bandits, skull mining, kidnapping, bribery and corruption in offices etc.
Pastorprenuer and imanprenuer.
Should I continue

itsene:
Stop linking Nigeria's economy to Europe's.
Govt. officials running to Europe to sign contracts on behalf of Nigeria have always been a problem.

Difrent:
And what would make the past government of PDP not pay the debt during period of high crude sale if not corruption which is PDP trademark...its not about blame game but putting things in the right perspective

Debaiz:
We don’t have access to the details of the contract so we don’t know where the contract was signed.

If the contract was signed in London, then a London court will have jurisdiction but if it was signed in Nigerian then like you said why will a Nigerian lawyer go and defend the case in London.

Also if the company is registered in UK and not Nigeria, then irrespective of where the contract is signed, the London court will have jurisdiction.

Whichever way it is, it is a bleeped up and mediocre situation for nigeria to be in.

I have problem with people dragging PMB into this nonsense. You can imagine someone claiming the previous government negotiated an $850m out of court settlement and blaming the PMB govt of not going with the settlement.


How will they go with the settlement? You agreed contract with someone, you refuse to honor the contract and you’re agreeing out of court settlement that is more than times 2 the initial investment without executing anything. It doesn’t make any sense.


If it’s not meant to embezzle money then why will you not honor a contract and you go ahead to approve such huge settlement?

Olominira:
Any African Nation still dealing with European and American companies is putting the lives and prosperity of her people in danger. Please, could someone tell me what the company did or supplied that we did not pay?
At least, this company must have rendered a service or products Nigerians are benefitting from by now that we did not pay.

See the Europeans have the system to cheat us any time any day, they are well established for decades. Sierra Leone canceled an airport project and China did not do anything, the same China the west is critizing on daily basis. UK at the moment has a blinking future until their brexit is formalized. They would do everything to steal, and destroy weaker nations.

I listened to Paul Kagame few days ago questioning the BBC and the UK for their belittling every thing about Africa and always seeing themselves as standard for human rights. I read about this story for the first time on South Africa news early this year. The author questioned why would the company going to court despite not rendering any service. African leaders must wake up and start making sound decisions because of coming generations and black people around the world.

Stop awarding contacts to western companies, at the moment the Chinese offer a better deal by not giving lones directly to the politicians but to the companies executing the projects which are their own.

Debaiz:
Oga invertedhammer you’re a forex trader.

wirinet:
I wonder why the contract details is being kept secret. It would afford Nigerians to know who, how and why the contract was signed.

It would not make sense for government officials to go all the way to London to sign a contract. The usual procedure for awarding of contract is that proposals are made made through the budget office and bids sent to prospective contractors. The bids must past through Bureau of Public Procurement (BPP), otherwise known as the Due Process Office before the contract is awarded. The whole project must be forwarded to the national assembly for imput into the next budget or approved a supplementary budget if it's urgent. Now, did this contract pass through due process?

Before a contract can be awarded the foreign firm must be registered in Nigeria or be partnered with a company registered in Nigeria. The government cannot just award contract to companies with no presence whatsoever in the country.

You raised a salient point. Why would the Jonathan administration agree to pay $850 million just 3 years after signing the contract, when the amount could easily have been used to execute it's share of the agreement? After all the amount is more than enough to lay the gas pipeline to the proposed production site.

Finally, the contract looks very illogical. The company is to take liquid gas from the government, refine it to wet natural gas to be used to power gas stations, and then keep the bye products.
Where are the gas powered stations, are the gas stations to be powered existing ones or new ones to be built?

What of the pipes to the new or existing gas powered stations, should they not be built first?

If their were plans to built more power stations, what of the transmission and distribution stations to be able to evacuate the power into the national grid? Our transmission lines had never been able to handle 5000MW.

What was the over all plan for the project?

arazanbal:
blame game continues,is it not the reason why pdp was voted out so that apc can repair the damand done? but instead they allow it to worsen to the point of no return,all the money efcc don recover e go rich take pay them, but ur uncles relooted them again, when somebody say naija is a shithole sometimes i dont blame them

wirinet:
I wonder why the contract details is being kept secret. It would afford Nigerians to know who, how and why the contract was signed.

It would not make sense for government officials to go all the way to London to sign a contract. The usual procedure for awarding of contract is that proposals are made made through the budget office and bids sent to prospective contractors. The bids must past through Bureau of Public Procurement (BPP), otherwise known as the Due Process Office before the contract is awarded. The whole project must be forwarded to the national assembly for imput into the next budget or approved a supplementary budget if it's urgent. Now, did this contract pass through due process?

Before a contract can be awarded the foreign firm must be registered in Nigeria or be partnered with a company registered in Nigeria. The government cannot just award contract to companies with no presence whatsoever in the country.

You raised a salient point. Why would the Jonathan administration agree to pay $850 million just 3 years after signing the contract, when the amount could easily have been used to execute it's share of the agreement? After all the amount is more than enough to lay the gas pipeline to the proposed production site.

Finally, the contract looks very illogical. The company is to take liquid gas from the government, refine it to wet natural gas to be used to power gas stations, and then keep the bye products.
Where are the gas powered stations, are the gas stations to be powered existing ones or new ones to be built?

What of the pipes to the new or existing gas powered stations, should they not be built first?

If their were plans to built more power stations, what of the transmission and distribution stations to be able to evacuate the power into the national grid? Our transmission lines had never been able to handle 5000MW.

What was the over all plan for the project?

InvertedHammer:
/
This part got me laughing.
Nice try though. But I am not a forex trader.

/

Difrent:
The bolded does not mean PDP didn't cause the rot and that they should not be told they caused it because that is the truth, whether you decide to call it blame game it's your cup of tea, it's putting things in the right perspective,..... All the money EFCC has recovered no reach 9billion dollars bros, easy on yourself with your lies.....the fool that calls Nigeria a shithole is full of poo himself and you chose to believe him over your country, that's your cup of tea

wirinet:
I wonder why the contract details is being kept secret. It would afford Nigerians to know who, how and why the contract was signed.

It would not make sense for government officials to go all the way to London to sign a contract. The usual procedure for awarding of contract is that proposals are made made through the budget office and bids sent to prospective contractors. The bids must past through Bureau of Public Procurement (BPP), otherwise known as the Due Process Office before the contract is awarded. The whole project must be forwarded to the national assembly for imput into the next budget or approved a supplementary budget if it's urgent. Now, did this contract pass through due process?

Before a contract can be awarded the foreign firm must be registered in Nigeria or be partnered with a company registered in Nigeria. The government cannot just award contract to companies with no presence whatsoever in the country.

You raised a salient point. Why would the Jonathan administration agree to pay $850 million just 3 years after signing the contract, when the amount could easily have been used to execute it's share of the agreement? After all the amount is more than enough to lay the gas pipeline to the proposed production site.

Finally, the contract looks very illogical. The company is to take liquid gas from the government, refine it to wet natural gas to be used to power gas stations, and then keep the bye products.
Where are the gas powered stations, are the gas stations to be powered existing ones or new ones to be built?

What of the pipes to the new or existing gas powered stations, should they not be built first?

If their were plans to built more power stations, what of the transmission and distribution stations to be able to evacuate the power into the national grid? Our transmission lines had never been able to handle 5000MW.

What was the over all plan for the project?

bishopkay:
I remember this case and the GEJ's government then opted for an out of court settlement. The arrogant bastard rigging rugarist came in and as usual threw everything he didn't understand away without asking for details forgetting government is continuum

Now Nigeria would pay for his foolishness very heavily! Imagine an out of court settlement which would have seen us pay $850m in tranches now a judgement debt worth $9b in whole payment. And to imagine one very uneducated fool went there with the APC blame game manuscript!

Does he think the UK'S judicial system is like ours here which lack merit and can throw away a case with substance for a filing technicality? They think because they win cases here using the we vs them syndrome they can go replicate that outside the country? Bunch of inept fools!

Debaiz:
Bro I don’t know if you’re on twitter but you need to read this.

https://twitter.com/sarnchos/status/1139932904040124417?s=21[/quote]God bless you my brother. The whole thing is beginning to make sense now. You don't need to be a genius to know that the whole "contract" is a scam.

Even though I am no longer a fan of Buhari, I cannot wish evil and destruction on my country because of hatred for one man. It does not make sense. If the country perish, we all perish with it.
It is beyond imagination that some Nigerians want Buhari to just dash an anonymous Irish company $850 million without the supply of any goods or services. It is even insane that some Nigerians are celebrating the award of a $9 billion penalty against the country by a foreign court without any justification. Any attempt to seize Nigeria's assets abroad is an act of aggression.

ahiboilandgas:
u an idoit 850m dollars is small money monkey

bishopkay:
Your father is a bastard! Nigeria was wrong on this one and that was why we chose to settle out of court. Now that the judgement debt is $9b, perhaps you can borrow your tin god the money to pay abi? Foolish fool!

ahiboilandgas:
pig why would a bristish court have juristication over bussiness in Nigeria ..is Nigeria a colony,but refuse to hear 15 bn dollar claim against shell vs ogoni...but as a monkey u can't comprehend......and a pig u brain anit working

bishopkay:
Your father is the vile pig! Your mother is the ho,e your father used as a cum bucket to produce you! Reason I called you a bastard from the beginning because it's written all over you and coded deeply in your DNA.

Bastard! Go to Abuja to weep. Go to ecowas and even world court to cry too you hear? You This useless stupid arsse pig. What do you know about jurisdiction? If the court didn't have jurisdiction would Nigeria ever have honored the suit being a sovereignty?

I'm done educating pigs like you whose parents didn't give home training and still won't read to develop themselves! YOU ARE A BASTARD for ever quoting me in the first place!

bishopkay:
Your father is the vile pig! Your mother is the ho,e your father used as a cum bucket to produce you! Reason I called you a bastard from the beginning because it's written all over you and coded deeply in your DNA.

Bastard! Go to Abuja to weep. Go to ecowas and even world court to cry too you hear? You This useless stupid arsse pig. What do you know about jurisdiction? If the court didn't have jurisdiction would Nigeria ever have honored the suit being a sovereignty?

I'm done educating pigs like you whose parents didn't give home training and still won't read to develop themselves! YOU ARE A BASTARD for ever quoting me in the first place!