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Politics / Re: Top Ten Books Every Nigerian Revolutionary Must Read(photos)! by rolchi(m): 1:11pm On Dec 01, 2015 |
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". |
Politics / Re: Boko Haram Abducts Over 170 Teenage Girls From Bam 7km From Buratai's Hometown by rolchi(m): 12:43pm On Nov 30, 2015 |
richeso: Abeg make i laugh first oh ... ! Bad thing nor good sha. May God help Nigeria! |
Politics / Re: Bloomberg Writes Off Buhari: “he Has No Capacity To Run Nigeria” by rolchi(m): 9:37am On Nov 28, 2015 |
Adminisher: And when is this budget supposed to come....June 2016? |
Politics / Re: We Lost N50bn To Oil Thieves In 9 Months – NNPC by rolchi(m): 7:40am On Nov 27, 2015 |
I thought PMB have stopped Oil/Product theft as from May 29th? 2 Likes 1 Share |
Politics / Re: “The Budget Of N8tr Is Doable” – FIRS Boss by rolchi(m): 8:00am On Nov 26, 2015 |
Another APC Joke! |
Politics / Re: Obasanjo Tells Jonathan To Show Remorse by rolchi(m): 7:59am On Nov 26, 2015 |
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! 1 Like |
Politics / Re: Buhari Extends Loot Recovery To Yar'adua, Obasanjo Era by rolchi(m): 3:32pm On Nov 25, 2015 |
He can even look for loot during Abdulsalami, Abacha, Shonekan, Babangida and Shehu Shagari era. I am sure he will find more money! Nonsense!!! |
Politics / Re: Mbaka Launches New Product Lines For His Company Aqua Rapha Investments Limited by rolchi(m): 7:44pm On Nov 19, 2015 |
Mogidi: Oh they do, ask Father Emmanuel Edeh! |
Politics / Re: 105 Nigerian Soldiers Missing After Fierce Gun Battle With Boko Haram by rolchi(m): 12:24pm On Nov 19, 2015 |
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!!! |
Politics / Re: FOR THE RECORDS: Buhari Failures And Misdeeds In Words And Pictures by rolchi(m): 12:20pm On Nov 19, 2015 |
Mogidi: My brother, you dey see so?....These people are really unbelieving. Just like they denied "My Covenant with Nigerians" months after winning the election. 4 Likes 2 Shares |
Politics / Re: Buhari’s Integrity Increases Power Supply, Says APC: Punch by rolchi(m): 7:23am On Nov 19, 2015 |
Where is the power? In the area I live in Warri, there is serious load shedding and rationing.... |
Politics / Re: How Much Is Fuel In Your Area? by rolchi(m): 9:03am On Nov 14, 2015 |
In Osubi, near Warri this morning...it is 140/L. At Shaguolo too...140/L |
Politics / Re: How Dino Melaye Misled The Senate On TSA, Remita by rolchi(m): 3:59pm On Nov 13, 2015 |
@Laudate Please, I want to be your friend. I like following intelligent guys. What's your twitter handle? Can I like you on FB? |
Politics / Re: Buhari Scraps ‘Ministry’ Of Power - TheCable by rolchi(m): 11:20am On Nov 11, 2015 |
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.... 20 Likes 2 Shares |
Politics / Buhari Scraps ‘Ministry’ Of Power - TheCable by rolchi(m): 11:09am On Nov 11, 2015 |
There will be no minister of power in the cabinet inaugurated by President Muhammadu Buhari on Wednesday, TheCable understands. Although Louis Edozien, former executive director of Niger Delta Power Holding Company, was named as the permanent secretary of power on Tuesday, he may turn out to be the most senior officer in the ministry. A special adviser on power, who will co-ordinate the sector, is expected to be named by Buhari. https://www.thecable.ng/exclusive-buhari-scraps-ministry-power 5 Likes 1 Share |
Politics / Re: We Will Pay Social Security To 25 Million Vulnerable Nigerians - APC by rolchi(m): 9:21am On Nov 06, 2015 |
Lai Mohammed of APC...please note, there is something called "Supplementary Budget". |
Politics / Re: No Going Back On N5,000 Allowance To Jobless Youths – Lai Mohammed by rolchi(m): 9:15am On Nov 06, 2015 |
There is something called "Supplementary Budget". |
Politics / Re: Buhari: Not All Nominees Will Be Ministers by rolchi(m): 8:14am On Oct 31, 2015 |
This is strange oh! PMB theatertricks! Always talking trash in a foreign land. 39 Likes 2 Shares |
Politics / Re: We Won’t Declare Assets Publicly, Say Ministers-designate by rolchi(m): 8:12am On Oct 31, 2015 |
APC....Scam! |
Politics / Re: We Are Planning For Nigeria's Poor In 2016 Budget ' VP Osinbajo by rolchi(m): 7:52am On Oct 31, 2015 |
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! 1 Like |
Politics / Re: Not All Nominees Will Be Ministers - Buhari by rolchi(m): 7:36am On Oct 31, 2015 |
This is strange oh! |
Politics / Sanusi And The First Law Of Holes by rolchi(m): 8:30am On Oct 29, 2015 |
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/ |
Politics / Re: Happy Birthday To You Tonyebarcanista! by rolchi(m): 11:47am On Oct 24, 2015 |
Happy Birthday Bro! May your days be long! PDP will rise again! PDP...Power to the People!!!!!!!! 1 Like |
Politics / Re: El-rufai...I Only Said "You Can Climb Kufena Hills And Jump.” by rolchi(m): 4:00pm On Oct 21, 2015 |
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. |
Politics / Re: Buhari Launches Calabar-Kastina-Ala Super Highway Project by rolchi(m): 7:57am On Oct 21, 2015 |
Valstresser: Bad road factor. Ordinarily, from Calabar to Obudu is good 6H! Also, consider from Suleja to Kontagora....one state! 1 Like |
Politics / Re: Buhari Launches Calabar-Kastina-Ala Super Highway Project by rolchi(m): 7:55am On Oct 21, 2015 |
PHfinest: Exactly, Ayade over exaggerated....Politicans and lies! |
Politics / Re: Buhari Launches Calabar-Kastina-Ala Super Highway Project by rolchi(m): 7:53am On Oct 21, 2015 |
400billionman: 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! |
Politics / Re: Buhari Launches Calabar-Kastina-Ala Super Highway Project by rolchi(m): 7:50am On Oct 21, 2015 |
IbokUtoroh: 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. |
Politics / EFCC Quizzes Abba Moro, Ex-interior Minister, Over NIS Recruitment Saga by rolchi(m): 11:14am On Oct 20, 2015 |
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. Source: https://www.thecable.ng/just-efcc-quizzes-abba-moro-ex-interior-minister-nis-recruitment-saga 2 Likes 1 Share |
Politics / I Won’t Resign Even If I Don’t Defeat Boko Haram By December, Says Buhari by rolchi(m): 3:13pm On Oct 16, 2015 |
President Muhammadu Buhari says he “will not resign” if he is unable to fulfill his promise of defeating Boko Haram by December. https://www.thecable.ng/wont-resign-even-dont-defeat-boko-haram-december-says-buhari 1 Like |
Politics / Re: NNPC Records N378bn Loss In 8 Months by rolchi(m): 11:07pm On Oct 12, 2015 |
obailala: 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! |
Politics / Re: BREAKING: Tony Okocha Looses,as Tribunal Uphelds OK Chindah's Election by rolchi(m): 12:44pm On Oct 12, 2015 |
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... 2 Likes |
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