₦airaland Forum

Why Nations Fail is a must read. After reading that book, I realized that Nigeria's problems can ONLY be solved after a thorough ' political structural correction'. So far, only GEJ has called for a conference to discuss "Nigeria".

richeso:
[size=20pt]170 , wey we never rescue the 200 wey dey collect ?

9ja were we dey go na

where aunty obi dey ?[/size]

Abeg make i laugh first oh ... ! Bad thing nor good sha.

May God help Nigeria!

Adminisher:
Bloomberg did not write off Buhari at all. This conclusion is in the parochial mind of this IGNORANT OP who has been paid to write unreasonable thrash
APC is not a socialist party.
The first country Buhari visited was the US. He has constructive working relationships with all European leaders. The same people who blame him for being pro-western also ate now calling the government socialist.

Please get serious about the problem Nigeria has. The Naira has crashed with the oil market.The FG needs to attract investments whilst ensuring that the country does not get raped again. The only way we gain from incestments is when the companies come here, pay taxes as at when due, obey our laws and pay good salaries to Nigerians.
I nternational banks raped us when we were selling oil at $114 a barrel , we now have a debt of $70bn without an indication where the money went.

I never thought I will see the day when paid articles in Bloomberg become a rating scale for Nigerian governments. That is inferiority complex on a massive scale. They also write that trash about Russia, Iran and Venezuela . Never about debt ridden Greece, Brazil and UK. Well these countries are becoming stronger by the day due to sanctions.
Let us wait for Buhari's budget for 2016 and it's reflationary programs. Nigeria should also institute a comprehensive ban on products from countries that our currency is doing badly against lime the US.
Our anti corruption drive should continue because thst is the only way Nigeria will be efficient and prosperous , the view of some US institution is completely irrelevant.
We are going to need to take some loans and the money in the world now is realky in the hands of western banks. A few infrastructure deals financed from China, GCC countries are more likely the ones we should be concentrating on.

And when is this budget supposed to come....June 2016?

I thought PMB have stopped Oil/Product theft as from May 29th?

Another APC Joke!

OBJ is extremely PETTY!!!!

Just because GEJ mentioned the 3rd Term thing last week, he responded to a letter written to him over two months ago.

In Oshiomole's voice, OBJ should go and DIE!

He can even look for loot during Abdulsalami, Abacha, Shonekan, Babangida and Shehu Shagari era. I am sure he will find more money!

Nonsense!!!

Mogidi:
I didn't know Catholic priest were allowed to float businesses, this is not the Catholic I attend.

Oh they do, ask Father Emmanuel Edeh!

If 105 Soldiers can go missing...then one day, the 'defeated BH on Newspapers" may capture Our Command and Control Centre in Maiduguri.

PMB, APC, please WAKE UP! Secure Nigeria!!!

Mogidi:
Same people who made Buhari a deity before election, so he's mere mortal, big news to me, anyway let me enjoy Bubu's uninterrupted power supply in DARKNESS.

www.nairaland.com/attachments/3082739_iropo_jpeg12468bb83cd7b781e2f94a2cb86fc1e4

My brother, you dey see so?....These people are really unbelieving.

Just like they denied "My Covenant with Nigerians" months after winning the election.

Where is the power? In the area I live in Warri, there is serious load shedding and rationing....

In Osubi, near Warri this morning...it is 140/L. At Shaguolo too...140/L

@Laudate

Please, I want to be your friend. I like following intelligent guys. What's your twitter handle? Can I like you on FB?

Just like saying that there is no need for Communications Ministry since we have the NBC as a regulator and Private TV/Radio Stations.

Watching....

Lai Mohammed of APC...please note, there is something called "Supplementary Budget".

There is something called "Supplementary Budget".

This is strange oh!

PMB theatertricks! Always talking trash in a foreign land.

APC....Scam!

Yet, his boss while speaking to Nigerians in India, said the country is broke as the ministries will be pruned to pay salaries. Why all these confusion from APC?

It seems to me the Buhari/Idiagbon episode is repeating itself. This administration will be kicked out.

HISTORY REPEATS ITSELF!

This is strange oh!

The Verdict By Olusegun Adeniyi Email;olusegun.adeniyi@thisdaylive.com

If you encounter one of Nigeria’s numerous street economists and you want to discuss the state of the nation, you are likely to be told that our country is so rich that it can afford free education, free health services and free housing for every citizen, if only we can eradicate corruption. While corruption is indeed a serious issue, the bottomline is that Nigeria is not a rich country and has never been one. Yes, we had (and still have) the potentials to be a prosperous nation but that will not happen until we stop squandering our opportunities.

The challenge of the moment is that we don’t seem to have learnt useful lessons from our past as we continue to make the same choices that have led us to where we are today. And as conventional wisdom teaches, you don’t continue to do the same thing while expecting different results. That essentially was the kernel of the recent intervention by the Emir of Kano and a former Central Bank of Nigeria (CBN) Governor, Mallam Muhammad Sanusi II. The message from him is simple: In the unfortunate economic situation Nigeria is in today, the administration of President Muhammadu Buhari should apply the first law of holes which says that when you find yourself in one, you stop digging.

Speaking at a ceremony in Lagos last Thursday night, Emir Sanusi asked: “Does it make sense at this time for the government to continue paying petroleum subsidies? It does not! When you are not earning because oil prices are down, you have to shut down those expense lines that had been known historically to be the site of rent-seeking. Fuel subsidy has to go, our tax base has to expand, value added tax (VAT) has to go up. We can’t continue having an economy in which we collect tax from oil, collect tax from telecoms companies, and then 60-70 per cent of the Gross Domestic Product (GDP) does not pay taxes. This is something that has to be looked at.”


The E‎mir continued: “I know that the government has announced its position on exchange rate, subsidy and as you all know, I am a very strong supporter of this administration. I would like this administration to succeed. But a friend does not tell the government what it wants to hear. A friend tells the government when he feels it is wrong. So, it is wrong to continue with the fuel subsidy. It is wrong to continue to pretend that you can keep the naira at a certain level, when the price of oil is falling, without depleting your reserves. You have to make a choice.”


And then the warning: “If we continue along this trajectory, with the weak balance sheet of government and a tight monetary policy, in the face of falling oil prices, we are setting the economy up for a long period of very low growth and we cannot afford that given our population and given our growth rate...The president needs help on the economy and it is extremely important to understand that even if you have security, even if you fight corruption, you still need to have jobs, power, you still need to build agriculture, attract investments and that cannot be done if we continue dismissing the view of investors and foreigners who want to bring money into this country.”

Quite naturally, Emir Sanusi’s intervention has become a subject of an interesting national debate from which four broad schools of thought have emerged. The first one belongs to those who believe that the Emir is taking a dig at the CBN and his successor, Mr. Godwin Emefiele. That for me is a wrong reading of his thesis. I happen to belong to an exclusive online forum comprising a few Nigerians to which Emir Sanusi also belongs so I am aware of how defensive he is about the CBN and the sympathy he has for his successor whom he believes is managing a very difficult situation all by himself and practically alone in the absence of any economic team from the administration’s side.

While the Emir's position on devaluation of Naira is open to debate, the point that should also not be missed is that if things continue the way they are (oil price slumps, dwindling tax returns, subsidy payments, unsustainable state interventions etc.), the matter of the proper value of the Naira could soon be taken out of the hands of the CBN and the administration. If that happens, the consequences would be very severe for everyone.

The second school of thought belongs to the opponents of President Buhari who are gloating that the Emir has merely validated their own assumption that Nigerians have at the helm a man who has no understanding of the challenges at hand and so not in a position to offer practical solutions. Members of this school have been celebrating, interpreting, interpolating and extrapolating Emir Sanusi’s statement to justify their own position. For this crowd, the only thing they can see in the intervention is that “Buhari is already coming under fire from his own people.”

The third school belongs to supporters of President Buhari who share the position of the Emir on the looming economic danger but believe that to whom you can whisper, you don’t have to shout. For them, since the Emir presumably has access to Aso Rock, he should have gone for a quiet discussion with the president to explain to him the implications of some of the choices he is making. So to this school, the pain for them is that the Emir's intervention, however well-intentioned, has only strengthened the hands of the president’s opponents.

Finally, the fourth school belongs to those who believe--and I am a member of this school--that what Emir Sanusi did is purely a public service by helping to start a conversation on the choices we have to make at a very critical time in the life of our nation. And I believe that in so doing, the Emir has actually been of much help to President Buhari and his administration. What the Emir is saying in essence is that we can no longer afford wasteful spending but it would seem that this administration, based on the philosophy of President Buhari on state intervention, does not share this view. There is no area of our national life where this much is evident than in the oil and gas sector that is in dire need of critical reforms.

I am quite aware, as the Emir of Kano is, that the position being canvassed on the mismanaged downstream sector of our petroleum industry is not one that would earn him public acclamation. But we have reached a stage where those who love our country and believe in its future must be able to come out and make their positions clear on critical issues, however unpopular such may seem.

Subsidy, according to the NNPC Group Managing Director, Dr Emmanuel Kachikwu, “creates distortion in government revenue distribution as a result of round-tripping and unnecessary carryover of expenditures every year in a way that is difficult for government to control or sustain.” Yet Kachikwu sustains the subsidy regime because that is what the president wants despite the fact that you cannot even begin to fight corruption in Nigeria if you retain the number one rent enabler in the economy. And recording a loss of N38 billion within six months on three obsolete refineries whose total output does not even give us 20 percent of national fuel need makes no sense.

On the value of the Naira, common sense dictates even for laymen in economics like me that something is going wrong somewhere. Against the background that the difference between the black market rate of the Naira and the official rate is very wide, it stands to reason that there is indeed a serious distortion in the value of our national currency that is open to much abuse and does not lend itself to good economics. But as is typical in Nigeria where people leave the ball to kick the leg, all manner of ridiculous insinuations is now being given to Emir Sanusi’s well-meaning intervention on the precarious state of our economy.

It is exactly five months today that President Buhari was sworn-in yet if you speak to many business people, including the most ardent supporters of the president, what you hear are concerns about some of his policy choices even if they don’t say so publicly like the Emir of Kano has done. It will thereforeserve President Buhari well to understand that we are at a very critical moment where the choices he makes (or refuses to make) would have consequences that could last several decades.

The point here is that Emir Sanusi is not fundamentally opposed to President Buhari. He in fact seeks to strengthen the president by reminding him that he cannot hope to appease his populist base with policies that do not in reality help the poor and may ultimately hurt the economy in the long run. In other words, I understand Emir Sanusi to be saying to the President: social welfare can only be funded by a free market that is freed of subsidies and unrealistic concessions.

What makes his intervention more significant is the indication that Emir Sanusi is one of the few people the president would listen to.

Source: http://www.thisdaylive.com/articles/sanusi-and-the-first-law-of-holes/224029/

Happy Birthday Bro!

May your days be long!

PDP will rise again!

PDP...Power to the People!!!!!!!!

So when you climb Kufena Hills and jump; what is expected to happen? In my mind oh, it is expected that you will DIE. It is one and the same. Conclusion, El-Rufai said..."You can Climb Kufena Hills and Jump"...and DIE.

Valstresser:
10hrs? Within a state?. I comment my reserve

Bad road factor.

Ordinarily, from Calabar to Obudu is good 6H!

Also, consider from Suleja to Kontagora....one state!

PHfinest:
260km in 1hr 30mins? You have to go at 173km/hr non stop. People no sabi reason?

Exactly, Ayade over exaggerated....Politicans and lies!

400billionman:
What is the present economic relevance of this road when Enugu - Ph is not motorable, Ikot Ekpene - Calabar is not motorable ?

Check Ikot Ekpene - Aba. Ikot Ekpene - Umuahia, Owerri - Ph, Enugu - Onitsha...

My only Joy is that Calabar will rise again like in the days of Donald Duke the performer. The last governor was a waste. So dormant and without effect.

Since these sort of projects are possible, it is evident that some state govenors are just a waste of space if actually states can partner with foreign investors to build us federal roads which the federal government abandoned. Why then cant we have good roads ? Rather let these foreign partners collect tolls on these roads for 5 to 10 years before handing them over to FG. We will pay with all happiness.

Most interesting is a Deep sea port in Calabar.

I may not agree that the last governor of CR was a huge failure. Donald Duke borrowed so much money. Someone will have to pay back the debt. And I am sure Ayade will still have the challenge to paying up. Again, it was during Liyel Imoke's that CR lost out on the Oil table of honours. With the dwindling resources from the centre, Ayade will really really sweat. Except, if Liyel was able to pay-off debts owed banks on the TINAPA and Obudu racket...you know Nigerian Banks are not smiling oh!

IbokUtoroh:
bros howfar?
Make i put mouth small for your tory, ayade dey lie big time. I was opportuned to tour atleast 60percent of cross river state, i climaxed at obudu which share boundary with benue state, from calabar to obudu it took us more than 10hrs, dont knw how that road design is that will cut a whooping 9hrs from a journey of more than 10hrs. Cross river state is big and that road is passing thru more than 7 local govt areas.
And for the time duration, make i reserve my comment.

I wish to agree with you. It is a big big project. We pray that they have done their homework properly. Learnt from the failed TINAPA and other projects and have decided to do it right. It is obvious that the investors must recoup their money from tolls. The tolls will be heavy. What is challenging for me to understand is the fact that Benue is not represented here. Is it still the rivalry of APC/PDP playing out from their side? Well, like someone said, we hope to receive more clarifications in the coming days.

Goodluck to Cross River State.

Abba Moro, former minister of interior, is being interrogated by the Economic and Financial Crimes Commission (EFCC) over the recruitment tragedy that rocked the Nigeria Immigration Service in 2014.

TheCable understands that he arrived the Abuja office of the anti-graft agency on Monday morning following an invitation to respond to allegations of fraud in the recruitment process which ended tragically with 16 deaths.

The recruitment test, written on March 15, 2014, attracted 6.5 million applicants, 700,772 of whom paid N1000 each as online registration fee. Only 4,000 vacancies were available.

Questions were raised over the N700 million generated by the consultant through online registration fee and why adequate measures were not taken to prevent overcrowding and stampede at the test centres. Moro initially blamed the applicants for being “disorderly”, but later took responsibility, expressing regrets that his desire to eliminate favouritism through a competitive recruitment process had ended in a tragedy.

Former President Goodluck Jonathan rejected calls to sack Moro but offered jobs to families of the victims close to the March 28, 2015 presidential election, which he lost. David Parradang was removed as comptroller-general of NIS by President Muhammadu Buhari in August. He was also quizzed in September by EFCC over the saga.

Source: https://www.thecable.ng/just-efcc-quizzes-abba-moro-ex-interior-minister-nis-recruitment-saga

obailala:
I suppose you shoud also ask me a question like "so you believe muhamadu buhari is the president of nigeria?"

Just in case you were living in a cave all these while without any access to outside information, the 400,000 barrel/day figure was raised by nnpc, GEJ, diezani an okonjo iweala themselves. Shell, the biggest multi national in Nigeria had to close down their entire western division operations (delta state axis) because of this staggering figure.
http://www.vanguardngr.com/2013/08/oil-the-conspiracy-that-robs-nigeria-of-billions-of-dollars/
http://www.mynewswatchtimesng.com/uk-others-urge-fg-tackle-oil-theft/
http://www.theguardian.com/global-development/2013/oct/06/oil-theft-costs-nigeria

And Seplat is operating profitably some of these field left by Shell? Shell left for economic reasons and not any thing related to 400BPD Conspiracy theory!

Good News! We expect more. Rivers is PDP and for anyone who cares to know. The Elections in Rivers was free, fair and credible. So says the Tribunal. The APC can go to the Appeal Court for the final assessment!!!

Once again, congratulations to all Rivers PDP Members...