₦airaland Forum

Leezah:
Where in India are you?

Haryana

NL1960:
Cannot find on the internet why this name "River Jamieson SPV" was chosen. Why not simply 'Edo State Bond' since Edo state is guaranteeing it from her revenue generation?.

I think this has to do with Edo State’s credit rating of BBB- by Agusto. To raise funds from the domestic PFAs, bonds must have a minimum rating of BBB. Since Edo state doesn’t, the SPV will issue the bonds and then on-lend the proceeds to Edo State, who will in turn issue an irrevocable guarantee backed by the ISPO to the SPV for this loan (or notes).

No matter what happens to Edo state, the FGN will be deducting the amount due to the SPV’s bond investors from Edo State’s allocation and paying into the sinking fund held by the SPV’s trustees. The Nigerian PFAs can invest in the SPV as it is rated BBB by Agusto.

DexterousOne:
This is NOT in doubt

Even though the man is not legally married to the mother of the child

emmanuelewumi:
Even though the man is not legally married to the mother of the child

Absolutely

That's why I said that culture is "quite interesting "

DexterousOne:
Absolutely

That's why I said that culture is "quite interesting "

Exactly

.

Lazyyouth4u:
Alhaji needs liquidity. If he wants to quickly buy another PJ or another house in Banana, he can easily sell a few shares. If he wasn’t listed, he would struggle to find a quick buyer at a fair valuation.

Haba, how much is a house that Alhaji will need to sell his shares. The man and his workers are even increasing their holdings.

Listing gives visibility to his business, it gives easy capital and most importantly used by Forbes for their ranking.

A man who gets dividends of about N250 billion from his listed companies ie Dangote Cement, Dangote Sugar and NASCON every year, not to talk of other Investments and unlisted businesses. Such a person doesn't need to sell his shares to buy a house of N10 billion or more

Lazyyouth4u:
I think this has to do that with Edo State’s credit rating of BBB- by Agusto. To raise funds from the domestic PFAs, bonds must have a minimum rating of BBB. Since Edo state doesn’t, the SPV will issue the bond and then on-lend to Edo State, who will in turn issue an irrevocable guarantee backed by the ISPO to the SPV for this loan.

No matter what happens to Edo state, the FGN will be deducting the amount due to SPV’s bond investors from Edo State’s allocation and paying into the sinking fund held by the SPV’s trustees. The PFAs can invest in the SPV as it is rated BBB by Agusto.

Interesting read, still don’t understand Nigerian governors’ obsession with debt

emmanuelewumi:
I was going for my regular exercise on Friday evening, walking from my house to and fro the International Airport a journey of 1hour 30 minutes. A young man told me Baba why you dey stress your sef with facemask, you never hear say Corona Don comot for Nigeria.

1.30 minute for both to n fro? You are strong oo, I do 20 minutes max running in my compound twice a week, wish I can do more.

Eddee:
Interesting read, still don’t understand Nigerian governors’ obsession with debt

We don't generate enough income, the few generated are mismanaged, our population is huge and also growing at a rate higher than our economic growth rate

Akin3891:
1.30 minute for both to n fro? You are strong oo, I do 20 minutes max running in my compound twice a week, wish I can do more.

90 minutes walk, 5 times in a week. Try it for 6 weeks and your weight will come under control, cholesterol level will reduce, blood pressure will come down by between 5% to 10%

XiaoLi:
This is exactly how Nigeria works, laws are made withouth using common sense, the first time i tried to bring my wife and kids to Nigeria the people at Nigeria embassy in my country of residence asked me to bring my statement of account to make sure i can take proper care of my family while in Nigeria, i asked them if it means i cannot take my family to Nigeria even if i'm broke..they couldn't answer this question but insisted that providing my statement of account is one of the requirements. There's no common sense on that.

True, on my way back from Nigeria, they asked me what job I was doing even with a western passport.

I was like wetin be your business , you dey feed me.

Try renewing your Nigerian passport abroad, you will know hell is different from heaven.

emmanuelewumi:
90 minutes walk, 5 times in a week. Try it for 6 weeks and your weight will come under control, cholesterol level will reduce, blood pressure will come down by between 5% to 10%

thanks I will try it ....

emmanuelewumi:
90 minutes walk, 5 times in a week. Try it for 6 weeks and your weight will come under control, cholesterol level will reduce, blood pressure will come down by between 5% to 10%

film trick. if u do all these without watching what you eat or drink, na waste of time. confirmed

tumababa:
film trick. if u do all these without watching what you eat or drink, na waste of time. confirmed

Correct, try to have cabbage, lettuce, carrots, garlic, cucumber sliced into your meals or take fruits with all meals.

But 90 minutes of walk 5 times a week will reduce your weight, in 6 weeks. The problem is how to find time for it. You will lose up to 5kg.

emmanuelewumi:
We don't generate enough income, the few generated are mismanaged, our population is huge and also growing at a rate higher than our economic growth rate

Chief, this is debatable. You’re right about mismanagement or should we use misappropriation/misapplication of hard earned IGR on recurrent/white elephant expenditures?

Anyhow you look at it, I don tire for this country!

Eddee:
Chief, this is debatable. You’re right about mismanagement or should we use misappropriation/misapplication of hard earned IGR on recurrent/white elephant expenditures?

Anyhow you look at it, I don tire for this country!

There is nothing to debate, Nigeria is a poor country about 80% of the states are not economically viable and sustainable.

Lagos has a budget of about N1.1 Trillion for 20 million Lagosians, that is just N55,000 per citizen of the state

emmanuelewumi:
Haba, how much is a house that Alhaji will need to sell his shares. The man and his workers are even increasing their holdings.

Listing gives visibility to his business, it gives easy capital and most importantly used by Forbes for their ranking.

A man who gets dividends of about N250 billion from his listed companies ie Dangote Cement, Dangote Sugar and NASCON every year, not to talk of other Investments and unlisted businesses. Such a person doesn't need to sell his shares to buy a house of N10 billion or more

Walahi I was waiting for this response from you .

Some big businesses are not listed and are still very visible. The wahala involved in being a listed company is too much just for the sake of visibility. Virgin comes to mind.

A business like Dangote’s doesn’t need to be listed to raise money. He can always raise money as a private company via private placements provided the investors are willing to be locked in for long.

Forbes ranking is the last thing on the mind of any sane business man.

Buying a house on Banana Island may not be a good example but there are a lot of things he may need easy access to liquid funds for. Eg investing in new businesses, private jets are not cheap, apartments in those Hyde Park buildings or Trump Towers are very expensive, charitable foundations, Trust funds for his kids, etc

Also, if things start going south anytime, he can easily dump some shares in the secondary market and japa

Lazyyouth4u:
Sir, Walahi I was waiting for this response from you .

Some big businesses are not listed and are still very visible. The wahala involved in being a listed company is too much just for the sake of visibility. Virgin comes to mind.

A business like Dangote’s doesn’t need to be listed to raise money. He can always raise money as a private company via private placements provided the investors are willing to be locked in for long.

Forbes ranking is the last thing on the mind of any sane business man.

Buying a house on Banana Island may not be a good example but there are a lot of things he may need easy access to liquid funds for. Eg investing in new businesses, private jets are not cheap, an apartment in one of those Hyde Park buildings or Trump Towers, charitable foundations, Trust funds for his kids, etc

Also, if things start going south anytime, he can easily dump some shares in the secondary market and japa

Private jet at $60 million is just N24 billion. He has private jets which he leased to his companies for the use of his management staff and he makes profit from the arrangement

emmanuelewumi:
There is nothing to debate, Nigeria is a poor country about 80% of the states are not economically viable and sustainable.

Again this is very subjective. The economic matrices/indices government agencies base their poverty lies upon are geared towards creating the perception that we are poor - Nigeria just like Congo is not poor, only poorly run! Would love to discuss this over a drink or two and not argue online seeing the tone your response has taken!

Lazyyouth4u:
I think this has to do with Edo State’s credit rating of BBB- by Agusto. To raise funds from the domestic PFAs, bonds must have a minimum rating of BBB. Since Edo state doesn’t, the SPV will issue the bond and then on-lend to Edo State, who will in turn issue an irrevocable guarantee backed by the ISPO to the SPV for this loan.

No matter what happens to Edo state, the FGN will be deducting the amount due to SPV’s bond investors from Edo State’s allocation and paying into the sinking fund held by the SPV’s trustees. The PFAs can invest in the SPV as it is rated BBB by Agusto.

Fantastic

Eddee:
Again this is very subjective. The economic matrices/indices government agencies base their poverty lies upon are geared towards creating the perception that we are poor - Nigeria just like Congo is not poor, only poor run! Would love to discuss this over a drink or two and not argue online seeing the tone your response has taken!

Okay sorry about the tone. Can you give your reasons why you think Nigeria is not a poor country

Lazyyouth4u:
Alhaji needs liquidity. If he wants to quickly buy another PJ or another house in Banana, he can easily sell a few shares. If he wasn’t listed, he would struggle to find a quick buyer at a fair valuation.

Very funny

emmanuelewumi:
Okay sorry about the tone. Can you give your reasons why you think Nigeria is not a poor country

Nigeria is likely the second or third wealthiest country in Africa. We have great human resources (mostly tapped already), great swathes of arable land for agriculture of whatever nature. Petroleum/Natural gas reserves in quantities and quality that other countries will envy, we have zinc, bitumen, limestones, gold, coal and a host of other natural resources in commercial quantities. Like I said earlier and still insist respectfully, our problems are in no particular order; corruption, bad leadership and inequitable distribution of wealth.

ukay2:
Very funny

Na so o

Eddee:
Nigeria is likely the second or third wealthiest country in Africa. We have great human resources (mostly tapped already), great swathes of arable land for agriculture of whatever nature. Petroleum/Natural gas reserves in quantities and quality that other countries will envy, we have zinc, bitumen, limestones, gold, coal and a host of other natural resources in commercial quantities. Like I said earlier and still insist respectfully, our problems are in no particular order; corruption, bad leadership and inequitable distribution of wealth.

How can we put this or convert to Naira, dollars or pounds. Major economies have gone beyond mineral resources, what are the mineral resources in Japan?


What is the size of the total wealth in Nigeria that needs to be redistributed

emmanuelewumi:
How can we put this or convert to Naira, dollars or pounds. Major economies have gone beyond mineral resources, what are the mineral resources in Japan?


What is the size of the total wealth in Nigeria that needs to be redistributed

Hmmm...

emmanuelewumi:
How can put this to Naira, dollars or pounds. Major economies have gone beyond mineral resources, what are the mineral resources in Japan?

I’ll like to clarify one thing, the initial conversation revolved around whether Nigeria was poor or not and not how well we compete with developed nations that have a fraction of our population.

What is the Naira, Dollars or Yen since you mentioned Japan? Okay I’ll answer that. First and foremost, a unit of measure for payment of goods and services. Essentially an advanced barter system! I guess you’re looking at exchange rate which has to do with economic health and standard of living. And I mentioned the fact that one of our biggest problem is ‘inequitable distribution of wealth’ - I don’t want to get started on corruption and nepotism.

As for comparing, what mineral resources a country like Japan has to Nigeria, they have the same Number 1 resource as we do - HUMAN. You must have read a lot about capital flight in the 70s, 80s and even 90s. But how about ‘human capital flight’ by our brothers and sisters over the same period and even now?

Eddee:
I’ll like to clarify one thing, the initial conversation revolved around whether Nigeria was poor or not and not how well we compete with developed nations that have a fraction of our population.

What is the Naira, Dollars or Yen since you mentioned Japan? Okay I’ll answer that. First and foremost, a unit of measure for payment of goods and services. Essentially an advanced barter system! I guess you’re looking at exchange rate which has to do with economic health and standard of living. And I mentioned the fact that one of our biggest problem is ‘inequitable distribution of wealth’ - I don’t want to get started on corruption and nepotism.

As for comparing, what mineral resources a country like Japan has to Nigeria, they have the same Number 1 resource as we do - HUMAN. You must have read a lot about capital flight in the 70s, 80s and even 90s. But how about ‘human capital flight’ by our brothers and sisters over the same period and even now?

Japan has human resources. What is the quality of our education? How functional is our education? How many researches are our universities carrying out every year? We produce graduates of engineering and science every year, how have they been able to use their knowledge to solve our problems? How many children are out of school?

What about health care? How many Nigerians live in a decent accommodation? How many of us have access to clean water? How many of us have toilets at home? Come to Lagos early in the morning and see open defecation by Lagosians who are homeless.

We will continue to be poor if we don't produce what we consume and even produce more for sale, control the explosive population growth and change our values

emmanuelewumi:
Japan has human resources. What is the quality of our education? How functional is our education? How many researches are our universities carrying out every year? We produce graduates of engineering and science every year, how have they been able to use their knowledge to solve our problems? How many children are out of school?

What about health care? How many Nigerians live in a decent accommodation? How many of us have access to clean water? How many of us have toilets at home? Come to Lagos early in the morning and see open defecation by Lagosians who are homeless.

I’d love to stay here and engage with you but you’re obviously angrier at the state of affairs of our beloved country than I am. And this may degenerate from a purely fun-based interaction to a sentimental based conversation. Hopefully, we birth in the country of our dreams but I go still japa!!!

It’s been nice comparing notes, So long brother