₦airaland Forum

What a bloodied government this useless APC-led government is, blood is what I see everywhere and yet some despicable lots in here keeps defending this Satanic government of no direction

greatiyk4u:
You term him worst simply because you are Ignorant......................


Fashola is the first Minister of Power that is. Saddled with just the duty of Transmission and regulation of the activities of the already PRIVATIZED generation and distribution arms of electricity supply to the consumers


FG have no direct responsibility of providing you with power since it is now partially a private owned Business just like in Communication Ministry,......I hardly see one blame Minister of communication for lack of MTN masts in his area


The unfortunate thing is that the investors that were dashed the distribution company's for instance lack the technical cum financial capabilities to deliver


The undisclosed secret is that power generation in Nigeria has risen to above 6000mw. Kudos to the private own GENCOS but most of the DISCOS don't have the healthy network facilities that can successfully distribute this quantum of power without break down


There is urgent need for the investors NOT FASHOLA to wake up from slumber, pump money into the system and update their dilapidated network facilities.


Hope your. Ignorance is cleared a bit?

Check it you are a certified drug addict for spewing this gross emptiness. Must you defend failure? It makes you appear somehow to sane humans. Stop taking HARD DRUGS. Fashola is the worst ever liveth.

farem:
Someone should tell me how the souls of our politicians will still remain in PDP against 2019 with this new 'National Cake'?

You still think APC is the in thing right? Please smell the coffee, the people are fed up already with this government.

August 26, 2017

By Chineme Okafor in Abuja

The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that the federal government would soon open bids to concession 30 marginal oil fields in the country.

The corporation stated this in a statement from its Group General Manager, Public Affairs, Mr. Ndu Ughamadu in Abuja.



The statement noted that NNPC’s Group Managing Director, Dr. Maikanti Baru, spoke on the marginal fields while hosting members of the Independent Petroleum Producers Group (IPPG) led by its chairman, Ademola Adeyemi-Bero, at the NNPC Towers.

At the meeting, Baru urged members of the IPPG to participate in the forthcoming bid rounds for the 30 marginal oil fields. He also urged them to take advantage of the low crude oil price regime to develop their capacity and acquire technology in the oil industry.

Baru, stated that there was a lot of opportunities in the marginal fields which would soon be available, urging the IPPG to work hand-in-hand with the Department of Petroleum Resources (DPR) to ensure that they met the conditions that would be required from bidders.

“The marginal oil field lease renewal is an opportunity for your group. You will need to engage the DPR early in discussion to find out the conditions that the federal government is interested in. For example, the supply of gas to power plants and fertilizer plants and I think your group will be successful,” said Baru.

He also tasked the IPPG members to ramp up their collective production from 10 per cent of national production to 50 per cent in the next 10 years in order to increase the footprint of indigenous companies in the upstream sub-sector as is the case in the downstream sector.

According to him, the corporation was passionate about collaborating with the indigenous producers in order to grow their capacity and participation in the exploration and production sub-sector in line with government’s local content policy.

NNPC, he added, was very proud of them and was looking forward to a time when about 90 per cent of upstream operations in the country would be controlled by them.

Baru, applauded members of the group for their productive community engagement which had stemmed the incidence of pipeline sabotage along the Trans Forcados Pipeline and enjoined them to extend similar gesture to the communities around the other crude oil lines to help stabilise national production.

According the statement, Adeyemi-Bero, in his earlier remarks, said the group was made up of 25 active indigenous producers.

He noted that they were driven to support the 12 Business Focus Areas (BUFA) of the current management of NNPC and the Seven Big Wins of the government.

Adeyemi-Bero lauded the government for initiating the Joint Venture cash call exit programme, stressing that the move would bolster their activities in the upstream sub-sector.

The IPPG was formed a year ago with the mandate to promote and advance the collective interest of members in a coordinated manner as a unified advocacy platform for government policies in the upstream sub-sector of the oil and gas industry.

https://www.thisdaylive.com/index.php/2017/08/26/fg-to-open-bid-rounds-for-30-marginal-oil-fields-invites-local-players/

Cc:Lalasticlala

What a fight. Respect to McGregor an amateur boxer to last 10 rounds in the ring with a professional boxer!

Nothing but sheer waste of time by this useless government

louqas:
You must be a kid and new to nigeria politics.......im even sure you didn't witness the obasanjo regime .pdp hated criticism more than Apc and always tried to destroy any opposition both within and outside the party

I put it to you that you are an unrepentant APC clown that has refused to change to realities. This is the worst government ever in the political history of this Country in the areas of resisting criticism in a mindless and crude way. Read your history please and stop defending nonsense

Obviously Buhari has lost it all in its bid to keep a failed and divided Nation as one! Going after Nnamdi Kanu at this point in time portends serious danger to this unpopular government and could snowballed into a chaotic atmosphere never before seen in the history of this Country! Nigerians are angry and hungry, hence, a listening President who is ready to fix the immediate needs of the Country is needed and not what will plunge Nigeria into another bloodshed is needed. Definitely, the Fulani Herdsmen, Boko Haram, and other pressing challenges that borders on the state of the economy have been neglected for what is not necessary. The Country is already divided!

femolacqua:
It's painful, someone's time and resources just put to waste.

Nigeria's lack of proper handling of her educational sector is the major reason for the unprecedented rate of massive exodus of Migeria's brightest minds abroad.

While going through my Facebook page I stumbled on this picture of tons of project handbooks many of us who graduated from higher institutions are familiar with, abandoned in the open and probably dumped to be burnt later.

I looked at the handbooks and few flashes of reminiscence flickers through my mind what I went through when I was preparing to write my project work, starting from picking a title which was rejected many times before my supervisor finally agreed with me after several attempts and the next sojourn, which is; sourcing for materials in order to have a befitting project worthy of note to prove my 4 years was not a waste.

I remembered leaving my alma mater (OAU, Ile Ife) to travel down to Lagos to the library of a corporate organization just to equip myself with the best tools and materials and getting annual reports journals of few corporate entities just to make up a rich project work worth 6 units. This is one area of our sourcing for materials that cost many innocent student their lives (when moving from one state to another just to source for funds and materials).

In saner climes where people who appreciate education lives, project work of this magnitude that involves real cerebral tasking and efforts are properly archived for future consuotations and uplifting of corporate organizations and Country of abode which have been helpful times without numbers. Looking at this "pile of rubbish" (forgive my comparison and choice of words here) probably allowed by a supposed custodian "Mr Lecturer" I can only weep for the future of this Country that thrives in "Celebrating Mediocrity" in almost all spheres. I am of the candid opinion that Nigeria's current level of development is never a mistake but a stark reality to how we value or permit me to say undervalue education and mind training.

I end this piece by coming to a logical conclusion that, we have all failed as a people and Nation but deep down within me, a strong thought keeps tugging hard at the walls of my heart that, "it's not too late to start getting it right and back on the promising track of Independence Day Dream of 1960s", Education is the bedrock of any meaningful developments in a Country. Nigeria needs reawakening now in this sector!

From The Desk of Ratello
Peace!

Cc: Lalasticlala

Only restructuring can manage Nigeria out of her present and delicate crises, because information is now more open than ever before people now know who gets what and who gets that. Only restructuring birthed in true federalism can "unite us" and prevent a future break-up!

Well written and a real pointer to the "darkness and blindness" within our bogus politics of no reasonable substance. Only in Nigeria will the Emporium and mega city of a Country will parade miserable roads fit for jungles as Lagos. Mumu people in government.

Hmmnnnn, this is serious! Buhari has really lost so much weight and I don't see him keeping up with the rigour of governance with this physique Buhari should resign and attend to his health for the love of the land.

Omooba77:
Be mindful of hate speech...Leave everyman to God's judgement

But the hate speech is allowed during Jonathan's time abi

Blue3k:
This is well balanced article. Most people won't have attention span to read through this. What was the legal arguement for calling ECA illegal. The government did fight Jonathan on reasonable propasals to deregulate downstream oil is dumb.

You really read through the article my brother. I love this part, Nevertheless Jonathan’s policy achievements were important-the establishment of the Nigerian Sovereign Investment Authority (NSIA); the revival and substantial completion of the power sector reforms; successful reforms in agriculture and trade; GDP rebasing and growth resulting in Nigeria becoming the largest economy in Africa at $510bn; and the exponential increase in FDI crossing $20bn in 2013 and 2014! Politically Jonathan enacted the Freedom of Information Act and ensured free and fair elections including the one that saw to his displacement in 2015! His main failing was his weak leadership which manifested in a festering Boko Haram insurrection and large scale corruption in his government.

hardywaltz:
Obasanjo did not inherit an economy that was already basing its budgets on 3x the price of crude barrel before he was swung in as President.
When he came in all our budgets were prepared with $ 17 per barrel and therefore our recurrent and capital expenditures were tailored to suit our projected income.
Same with states.
When PMB took over in May 2015 the budgets of 2007 - 2015 had all been operated with crude prices of over $85 per barrel with a recurrent expenditure that was hell over roof and 26 states were bankrupt due to excessive borrowing when the allocations were high.

Where would he get the money to maintain such high expenditure when the income has reduces less by over 500%.

Why can't you read silently and leave quietly before exposing yourself unnecessarily if only you know what Obasanjo inherited you won't be comparing orange to apple in your baseless analysis. It is very clear from that beautiful thread (that is if you read it at all) that Jonathan left some blueprint policies before he left that future administrations can leverage on yet you are analysing bullshyte on 2015 budget you can't even prove. Where did you see $85 ?

hardywaltz:
Hahaha
All yee Jonathanians keep lying to urself

Even when the facts are painted in white you still can't see them. How come you missed the Obasanjo part where he inherited $17 per barrel in oil yet was not blaming the military but swung to action. Receive brain in Jesus Name

Nigerian economy since 1999: Myths, lies and data

The average oil price in 1999 when President Olusegun Obasanjo returned as Nigeria’s civilian president was $17.80 per barrel. Our official foreign reserves that year amounted to just $5.4bn. GDP size was $50.48bn which at then exchange rate of N92.69/$ was only N4.6trillion. Throughout Obasanjo’s first term, the highest oil price was $26.10 in 2000, with slight declines to $24.50 and $25.40 in 2001 and 2002. In spite of relatively low oil prices, Obasanjo grew FX reserves to over $10bn in 2001 before falling to around $7.5bn in 2002 and 2003. The exchange rate depreciated by 30% by 2002 falling to N120.97. On the policy front, the main economic achievement of Obasanjo’s first term was telecommunications sector deregulation which transformed Nigeria’s telephony and later internet/data sectors. No rational person will deny Obasanjo the credit for the over 150 million active lines in Nigeria today. He also established the EFCC and ICPC. Obasanjo’s main political achievements in his first term were stabilizing our democracy and re-establishing Nigeria in the global community.

Obasanjo recorded more significant economic achievements in his second term, enabled by the arrival of Ngozi Okonjo-Iweala, Charles Soludo, Fola Adeola and others into economic positions. The most important milestones were pension reforms, banking consolidation and the revolutionary Paris Club Debt Write-off. Okonjo-Iweala introduced the oil price rule that enabled the accumulation of “excess crude” savings in addition to our foreign reserves. The “Excess Crude Account” (ECA) starting from nil in 2003 was $24.36bn by December 2006 while foreign reserves were over $42billion totaling over $66billion of sovereign savings. In 2003 average oil prices were still below $30 per barrel and GDP size was only $76.64! It was only in 2006 and 2007 that oil crossed $60 per barrel. The effect of Obasanjo’s reform cabinet on FDI manifested for the first time in 2005 (not surprisingly AFTER (!) the Paris Club Debt Write-off as foreign investment jumped to $5.1bn and $7.7bn in 2005 and 2006 respectively.

Obasanjo’s policy failures were the neglect of the social sector as poverty and unemployment began to rise, and crony capitalism began to entrench its roots. Boko Haram and “Political Sharia” were also birthed under Obasanjo and the public sector began to expand in that era. The signal failure of Obasanjo was not to transform the power sector in eight years; but the irony (and redemption perhaps) was that he laid the foundations for reform through enactment of the Electric Power Sector Reform Act. On the political side, Obasanjo diminished the quality of our democracy with scandalous elections in 2003 and 2007, and his third term bid.

Late President Umaru Yar’adua was in office from 2007 to 2010. His reign was dogged by poor health and eventually cut short by his demise. He also had an economic challenge in the global financial crisis and great recession of 2008-2009. Yet average oil prices ranged between $60-100 per barrel during Yar’adua’s time in power, higher than under Obasanjo. Yar’adua drew down significantly on both the ECA and foreign reserves falling to $6.5bn and $42.3bn by 2009 (having risen to $20bn and $53bn respectively by 2008 a legacy of the Obasanjo cabinet). This depletion of reserves was part-justified as a result of the decline in oil prices during the global recession and part-unjustified because the Yar’adua government wasted substantial time reversing pro-market initiatives of his predecessor and stalling the power sector reforms in favour of an unrealistic $85billion government spending programme pushed by Rilwanu Lukman. Under Yar’adua and as a result of the global recession-induced oil price decline, the Naira was devalued from around N120/$ to about N150/$.

Yar’adua’s most important achievement was the Niger-Delta amnesty which restored oil production after the regime’s attempt to deploy military force failed.

President Goodluck Jonathan enjoyed the bounty of high oil prices ranging from about $80 in 2010 to over $100 per barrel between 2011 and 2014, when oil prices fell again. He initially built-up foreign reserves from $32bn in 2010 to over $43.8bn by 2012 before it began to decline to approximately $30bn by the time he left office in 2015. The ECA also fell to $2bn. As president, Jonathan bore ultimate responsibility for the non-accumulation of reserves during a period of high oil prices, but he can plead some extenuation-first he indeed tried to do so, in fact setting up a sovereign wealth fund to institutionalise same instead of Obasanjo’s illegal ECA, but governors stalled the process in court; the CBN refused to countenance even minor adjustments in currency value as imported consumption (and export of capital by corrupt officials rose); governors (again!) insisted on sharing the illegal excess crude account and persistently used it as political blackmail against the hapless president; and Jonathan and Okonjo-Iweala (who had returned as finance minister in 2011 under less-auspicious circumstances as I presciently warned back then) can argue correctly that they also tried to force savings through conservative budget oil price benchmarks, which the National Assembly consistently raised. Jonathan also bears, more directly, liability for the escalation in corruption, which will also have contributed to decrease in reserves. The biggest embarrassment to Jonathan was seeing fuel subsidies rise from an average of N1trillion to over N2trillion in 2011. In this case as well he tried to fix the problem once and for all through deregulating the downstream in January 2012 but political opponents opposed deregulation, which we have now being forced to adopt under worse economic circumstances.

Nevertheless Jonathan’s policy achievements were important-the establishment of the Nigerian Sovereign Investment Authority (NSIA); the revival and substantial completion of the power sector reforms; successful reforms in agriculture and trade; GDP rebasing and growth resulting in Nigeria becoming the largest economy in Africa at $510bn; and the exponential increase in FDI crossing $20bn in 2013 and 2014! Politically Jonathan enacted the Freedom of Information Act and ensured free and fair elections including the one that saw to his displacement in 2015! His main failing was his weak leadership which manifested in a festering Boko Haram insurrection and large scale corruption in his government.

By 2015, Obasanjo, Yar’adua and Jonathan all bore varying levels of responsibility for worsening poverty and unemployment as policy pandered to crony capitalists at the expense of the mass, even though Jonathan made modest efforts through Almajiri schools, “You-Win” and SURE-P programmes and investments in the education sector. The cost of governance also escalated with both the executive and legislature to blame.

Opeyemi Agbaje

https://trwstockbrokers./2016/08/24/nigerian-economy-since-1999-myths-lies-and-data-businessday-news-you-can-trust/

ShyCypher:
Isn't that a Raccoon you are callin' "cat"?

It's a civet cat from the viveridae family

ProWalker:
I don't do that sort of tribalism shitt!! You are sounding like those ipob shittyte guys by using such derogatory words.

Do you ever get tired of celebrating mediocrity at all? Funky Mallam is now derogatory to you abi?

ProWalker:
Educate yourself, serech for his bio on the internet

You are still not getting it, enjoy whatever suits you because another Funky Mallam is coming on board I really pity the youths.

The only chance this useless party called APC had to fix Nigeria they just bungled it I can confirm that Nigeria is under a demonic spell because right from 1960 previous administrations are always appreciated more than the succeeding ones now that's a demonic influence. Things are practically getting worse

ProWalker:
He is a highly educated person
An FCA

What is highly in being a Chartered Accountant biko, you guys can be funny attimes I only need a vibrant reasonable leader and not anointed candidate from the spoilers of this Country.

APC goons can choke on this for all I care...

jcmaiah:
25million.

Definitely for Lagos what about for Akure. I am talking of the total rough estimates for the two.

DJInfluence:
You might get discourage when the expert start giving you quote. What i am doing with mine, is to get a quote for each phase of the house. and focus on that. I did the foundation and raised it to decking level as first phase. then i deck it (2nd phase), now am currently raising it to roofing level. Once comeplete, i will get quotation for the roofing and see if i can do it now or wait a few months.

So start with what you have, and don´t wait for any quote, unless you have the whole budget at hand now then you can ask for the quatation.

God bless you real good for this candid advice and I must confess you did justice. However from your experience can you give me rough estimate it will cost for these two duplexes please.

awoban:
Building This day it is subject to many parameters. The Quality of what you are putting in.
To cost for You I will say #27m, I will put u throu, u prochure all the msterials urself and pay labour. I will handle the Project but my Charges is #3m not negosable please.
If u want us to have further discussion call me on 08085788626 -Yinka

With your charges are you saying N30 m?

NotComplaining:
Any house that cost more than 30mil to build and furnish is a mansion built for a king.

The spec is an average/sophisticated house. I guesstimate 30mill. 30 mill will build an attractive duplex with open space and scenic views of an opulent garden.

100mill is just squander.

This is exactly my point. Thanks bro

scorpio2013:
26m will complete the project.

My thought and estimation hovers around that (N26m - N30m)! You really narrowed it down.

dakeskese:
...

I pray I find mysef in the OP's shoes soonest... asking how much a building project costs.

God bless all our hustle. Best wishes OP

Amen and Amen your prayers are answered in Jesus Name my brother.

EgunMogaji:
Here is what I'll do at this stage of the game.

Partner with one of the builders on here that works in your arena, AbdulWastecx, Darenyx, KolaShangOne, Aventures, Skimanski, etc

Negotiate a consultation fee. This fee is for potential site visit if a site exists, go over the plans with you to make sure it's buildable in a cost effective manner and try to do some rough calculations for you on potential costs in stages. I don't personally subscribe to Quantity Surveyors but that will eb your individual decision.

With this method, you will get honest and close enough budget for your theatre of operations. With this consultation fee paid then there is no obligation past that and you can go to your local Baba Lati if you choose to without any one feeling that they have wasted their time and effort.

Good luck.

Thanks my bro I really appreciate can you give a rough estimate of the consultation fee? Can I also get the estimation for the duplex as explained above at least let me know how much to work towards.