₦airaland Forum

Genuine implementation of electoral reforms to ensure free and fair elections to a greater degree in 2011. Nothing more, nothing less. I want to be given the opportunity to work tediously in campaigning to get this poor excuse of a President out of Aso rock come 2011, but I want to put in such ammount of work knowing that votes (ballots) are going to actually be counted and not just used to make bonfire for suya in Aso rock.

mikeansy:
people talk of Fashola as if he is some kind of Messiah

if only people remember that this guy was Tinubu's Chief of Staff before he became Governor, our expectations of him will be measured and everybody will be just fine.

The man did not fall from heaven, he is a Politician.

I am still a tad confused when people metion this "messiah view". A lot of the times instead of debating issues people just blame everything on a "messiah view" carried by those they are discussing with. I have always seen that as nothing short of snubberry under the guise of "interlectualism" and it gets quite irritating, really does. Where is this mass "worship" people speak off? Since when did commendation become "worshipping"? Gosh LOL. At the end of the day in most cases the so called "worshipping" is as a response to Issues going on in the state. New laws passed in the lagos legislature, infrastructure being built, projects that will create jobs, etc, people respond to this positively. Do you want them to cry about such news? And if people decide to do what you might see as "worshipping", what has that got to do with the issues? In this case it seems there is actually something to answer and instead of making it about that the supposed "educated" are turning it into petty squablles instead of pushing to get the ISSUE heard, how mature. People should please get a grip and stop telling others what to think or how to feel, what you can do instead is present a debate based on substance and issues.

If there is indeed a breach of law or question to answer then why don't we work to see how we can obtain some answers from the government? Won't that be better for creating better transparency, accountability and citizen involvement? Can't things ever go beyond people's ability to string words together in an agreeable manner? Or do such abilities end there without any backing due to actual convictions, morals and substance?

ElRazur:
Erm Fashola is the next best thing after Obama! Just ask around this forum.

I am sure those people are just haters of fashola.

?? ? ? ? ? ? ? ? ?
A tad dissappointing that all you saw fit to contribute was that. Did you even read the article?

good job, I have my copy.

Mai Suya:
I don't think there's anything illegal about it; however, given our nauseating penchant of bringing sentiments, tribal or otherwise, into anything and everything being done in this country, the president should try to be a little more sensitive when making such appointments.

According to the article the appointment was made by the minister not president. This just yet again seems to be shouting at a relatively non-issue while losing focus of driving for reforms. If people are so moved that they are willing to do something about it then fine and more power to them, if not it just seems to yet again result to nothing but noise making on an issue we aren't clear about to begin with. Such seems to continuously serve as a smoke screen to what is really needed in terms of development, by calling the legislature to order with regards to passing of useful bills. All this dealing in nothing but speculation without any drive to obtain information to solidify any position or any plans to actually act to change what is being complained about just gets a tad irritating and self indulgent at times.

bawomolo:
Actually the concept of having both positions is to have checks and balances.  The chance of checks and balances is little if a federal agency turns into a family business.

How does chairman and managing director automatically turn an agency into a 'family business'? The executive, judiciary and legislature acting as checks and balance on each other due to each having the relvant authority to do so? Sure. MD and chairman? How does that form a check and balance system? Isn't one subservient to the other?

bawomolo:
It isn't illegal but puzzling. Appointing a father and son team to head a federal agency doesn't seem ethical.

As long as they are both qualified and more than capable of doing the job, and they aren't breaking the law.

bawomolo:
they were appointed and not elected.

?? I am yet to see a portion of the constitution that makes such appointment illegal. The only thing that could be questionable is the selection process which we are not well informed about, so again, where is the illegality?

Just out of interest, where in the constitution does it prohibit members of thesame family working in thesame government agency? You see political families in the US, husband and wife MPs in UK, so what is the big deal? As long as the person is qualified and capable of doing the job right and the selection process was lawful, should the whole family affair be the main issue?

Old news. Anything that gets citizens more involved in the government process and push for better governance is welcomed. If only they could take the march to Aso Rock. A shame there weren't more participants.

asha 80:
All these na theory.Create a situation where corruption becomes less attractive.When you are leader and you know you have to generate the resources to serve your people it is common sense that there is a likelyhood that corruption becomes less that it is now.

You seem to forget that the kind of system we are practising now actually encourages corruption.

There was corruption in the 60's however due to the competition of the different regions remarkeble developments took place.

To be honest I have never understood the resistance from supposedly well meaning Nigerians to resource control myself, especially when it doesn't appear to be done in sincerity. If the issue was, where is the money to fund other states going to come from and hence a fear of the unknown issue then fine, it is absolutely understandable. But to turn the issue into something it isn't about in order to justify the current arrangement right now just seems deceptive.

Fighting corruption and restructuring for a better system are not mutually exclusive, it doesn't have to be one or the other. The current system encourages the corruption we all castigate and to be honest encourages lazyness, it is part of what forms the weak foundation.

biina:
@sky blue
You seem to have broadened the discussion to the general issue of currency valuation. I had already cautioned that the discussion should be kept in context.
The strength of your analysis is conditioned on the economy in question. In the case of Nigeria, your analysis, like the butterfly effect, threads a trail of ifs and maybes and goes towards secondary contributors.

The value of the naira is primarily governed by oil revenue and I don't see how the appointment of a new CBN governor would (not could) lead to a hopeless drop in the Naira.

If you have a contrary opinion to my last statement, please share, else there is no point in the discussion.

No worries, I already concluded the discussion was futile as far back as yesterday. Only reason I posted anymore was because someone enquired. You asked how and I keep on giving reasons on how but you rather select what you want to take so there is not point.

The only reason I joined this discource was due to the postulation you made that the value of a currency is solely dependent on trade and that leadership as an issue pales in significance. I told you that such was a text book approach and not based in reality because leadership can in fact have an effect due to confidence that such might inspire. I explained that the increase in value of the dollar during the recession was in fact not due to ratio of imports to exports at all (something you choose to keep hammering on about as the sole factor the determines the value of a currency). I have used examples upon examples and illustrations and all you seem to come up with is that such is removed from reality or too contrived even when I have showed direct links via illustrations used. The issue which @naijaking highlighted was confidence, something that was obvious from his initial post. I again, directly illustrated that a change in leadership in Nigeria easily rattles confidence and perception (which is a very strong real world and perhaps not text book factor that easily affects a finance system based a lot of the time on speculation) due to the weak institutions in the country that does not guarantee continuity. So I will leave it there because it seems futile anyway. Have a nice day and don't be offended if I don't respond any further, I have lost interest  .

jimmysho:
@ sky blue,

honestly am gaining from this debate.

pls, what is butterfly effect analysis

LOL. I was just quoting a statement @binna used to explain how external factors can affect the markets. Please don't be fooled into thinking its anything complex because I chose to give it a name. Trade and the market isn't a closed system and you can't just be basing everything on what you read in text book because real life happens and most if not all of it is common sense when explained. A lot of external factors can affect trade and markets in general which is why the markets in New York obviously did badly after september 11 2001. For example gold has always been historically seen as valuable and hence a "sure thing" which is of substance and seen by people as valuable, as a result in a recession prices of gold always tend to go up because people invest money in gold due to the value attached to it as a means of bypassing fluctuating currency values and investing in something that can be traded in later to redeem invested money. There was actually a time in history when the dollar was backed by gold (i.e. it could be redeemed by its weight in gold if I am not mistaken).

Market confidence in a particular currency can also easily affect the value of that currency. It is quite straightforward really, if the currency is perceived to be valuable then that currency is obtained in bulk, making it a bit more difficult to obtain and hence more valuable. The dollar has been seen as a standard trading currency the world over, partly because America is the largest market in the world hence everybody trades with the country and uses its currency, and partly because of the stability of the country. As a result, most people prefer to trade in dollars, which is why the value of the dollar actually went up when the recession really set in, people invested in something they perceived as valuable and bought up the dollar hence making it more scarce. So when the value of the dollar increased was it directly as a result of ratio of imports to exports? See what I mean? There are a host of factors and maintaining an economy and a currency is a balancing act of a host of factors.

America has a stable democracy and more importantly are perceived to have a stable a stable democracy. In Nigeria and Africa in general, due to political unstability and perceptions, etc, whereby a change in power does not guarantee a continuation of fundamental policies (due to weak institutions), people are less willing to take such risks and trade in a country's currency. I mean, wasn't there a debate sometime last year when Soludo was thinking of asking the President to pay government officials in dollars?

biina:
I gave the example of the street hawker to show how unreasonable an argument can get when one start to apply butterfly effect principles. You should go back to the original post by naijaking1 (in which he predicted an hopeless drop in the naira simply on the appointment of the CBN governor) before you degenerate this into a discussion on 6 degrees of separation.

Nigeria is a one dimensional export country (with crude oil being our primary source of forex), with heavy importation (not surprising given the poor state of our economy), resulting in huge trade deficit and a weakened currency. This is the primary factor affecting the value of the naira (but if you disagree I am all ears). The policy of the CBN and other actions by the government (or its parastatals) bring secondary effects.

For example:

1. The unrest in the Niger delta will likely result in reduced oil production and export which will lead to less forex income for the nation and will likely weaken the naira. Should I then conclude that MEND will devalue the naira? 
2. The incumbent CBN governor moved from the old DAS, where the banks could only buy forex from the CBN based on expressed demands and prior cash commitment of their customers, to a more liberlized market where banks are now allowed to purchase foreign exchange based on their speculative estimates of their customers’ foreign exchange demands. This has likely led to an increase in the demand for forex and further weakened the Naira. This is a more direct effect as compared to the previous case.

We can go on analyzing how the actions in a part of the government, private sector, or foreign government, affects the value of the naira, but the truth is that the appointment of a CBN governor is far from the war front in its effect.

As to the FT article, I really don't see the relevance to the discussion, as it did not say anything as to the direct effect (positive or negative) of the appointment on the currency.

To predict the fall of the Naira simply on the appointment of a CBN governor is erroneous.

Sure its easy for any one to apply "butterfly effect" analysis, the question would simply be on the actual significance of such an effect on the wider scale and such can be a guide as to how 'reasonable' or 'unreasonable' such an analysis would be. Now if you want to apply such analysis to the point where you want to acess the impact a street hawker would have on the economy and more specifically forex then that is your prerogative. I don't think I actually need to add anything more to my post, I used the simple port example to explain how such things like trade and forex which actually effect the value of the naira can be influenced by leadership and I think all I wrote was adequate enough.

The value of a country's currency is primarily affected by trade (imports-exports) which can be easily influenced by leadership (i.e. change in policies, efficiency of the systems - e.g. the port example, management, etc) right or wrong? So as you can see though it is possible to argue that the currency value is based solely on trade, can you now see why such would be an inadequate statement considering a host of basic factors which affect trade in the first place?

I have nothing against the new guy sugested, infact he even seems like a choice candidate though I would not be able to vouch for him until I hear his perspective of things via an interview or whatever. However I think while you could argue that @naijaking's postulations might have been a tad contrived though valid, I think yours were way too simplistic and too text book.

texazzpete:
And how the hell do you ensure the state and local governments develop the state? Yar Adua has no power to remove an elected Governor. Only the people can, through the ballot box. And it's only when they recognise the need to heap the blame on their State and LG leaders that they can start making moves to force their leaders to do the right thing.
Instead all we have are 'elders' meeting to dole blame on others. Look at MEND threatening Northerners instead of the elected local government chairmen and governors who fail to build schools, repair roads and help create jobs.

I repeat, the bayelsa state Govt was paying millitants N200 million monthly for 'peace'. It's an open secret that the Delta state govt pays out huge  sums to these miscreants too. How will the state get developed when such huge amounts are paid out to hoodlums instead of being used for development?

I agree with a significant part of what you have stated, governments should be held accountable, however what I find irritating is the arrogance attached to the impact the oil exploration has had on the people in the region. Who pretty much controls the oil industry? Is it not the federal government that pretty much runs the oil sector in order to get funding used to build abuja? So why on earth should state governments accountable or not, spend whatever limited resources they have on clearing oil spills and reversing the huge environmental impact the oil has brought with it? Why? Is accountability in government exclusively a Niger Delta issue? So why does it seem that the region is paying for blood while funding the nations spending habits? The oil companies have been stepping on the will of the people for so long and the federal government even with all the uproar has kept quiet on the issue because it hasn't been affecting them, till now.

With regards to the issue of resource control, it would be less patronising if people spoke of it in sincerity and stopped using bad governance as an excuse. There has always been bad governance in every part of the country hence why would that become the issue rather than practising federalism and letting states control their resources and choose what path they want to take? MEND and all the militant groups should be dealt with but it shouldn't be used as a way of placating the people or putting temporary plaster on the cancer, the issue needs to be addressed and we should push for a more federal structure which would be good in the long term because that will mean decentralisation of power, making government more grass root oriented and closer to the people instead of Abuja oriented.

biina:
The comparism is valid cos if the  northern states are also in a bad state, you cannot make the argument that the oil money is being spent by them. The money from oil has been ending up in the pocket of a few corrupt leaders.
Do you think the leaders care where the oil is from? Have they not tried, but failed, to find oil in substantial quantities in the chad basin region?
Nigerian leaders, if left unchecked, would loot the nation to bare bones, and they are not guided by regional boundaries as you seem to be.
Accountability and transparency should be the first step towards improve the lots of the people, and not wasted efforts on regional definitions.

The issue is the negative impact without any form off compensation whatsoever or any plans to reduce the impacts, hence you might want to re-read why the comparison might not be valid, its not necessarily about underdevelopment which is inherent in Nigeria anyway. The gas flaring deadline has come and gone, has gas flaring stopped? Is gas flaring allowed on mainland in any western country? This is getting a tad futile, so I am out : )

asha 80:
let me ask this question.what makes us think this will not develop into a full scale war?

I desperately hope it doesn't get to that stage but to be honest the federal government isn't helping matters. The simple truth is that MEND is the symptom of the problems plaguing the nation, underdevelopment, mismanagement, corruption, weak institutions, etc. If the Niger Delta region was developed I don't think MEND would have existed which is why I question their motives. Yes there are issues to be resolved, some of the issues are common nationwide, however what makes it more pronounced in the Niger Delta region is that the oil exploration which accounts for almost all exports out of the country has had a negative impact on the lives of the people. Rivers have been polluted, lands rendered useless with regards to farming, pollution, gas flaring, etc. These things affect people's livelihood and hence it is not just an issue of people making noise because they aren't getting more money. That is why comparing the situation of the Niger Delta to what is obtainable in the north seems ignorant. The federal government wants to continue obtaining revenue from oil but does not want to address the negative impact such has on the people in the region and therein lies the major problem and the cause for all the outrage.

biina:
The Kebbi rep can utter such as a consequence of democracy, and he is required to withdraw same and apologize as a consequence of same democracy.

People that do not contribute directly to the common purse, should get something as they are part of the nation. What fraction they get is a different debate.

At a point, Kainji and Shiroro accounted for a large fraction of electrical power in Nigeria, and the power was distributed across the nation with Lagos getting the lion share. I cant remember anyone arguing that the power should have been localized in Niger State.

In the days of the western region, despite all the cocoa farms in Ondo, the bulk of development ended up in Ibadan. So I don't see the solution in the proposed regional government.

Resources should be used to improve the standard of living of all Nigerians, irrespective of where said resources were from. Each area should be applied to their best use. Even if kebbi is not suitable for agriculture, it might turn out a viable region for military exercises, which would contribute to the strength of the nation.

I am well aware of the entrenched nature of tribal sentiments, but that does not mean we should encourage it. Tribal lines has gotten us nowhere, in the past, and I am sure it will get us nowhere in the future. After all was it not the same tribal eyes, that saw the tribes of ifeajuna, nzeogwu and co first, and never gave consideration that they could have possibly acted independent of their tribe? Yet those events led us into a civil war that was again delineated along tribal lines.

I have spent considerable time in the Niger delta and in the oil and gas industry. I have also lived in the North and visited most states in Nigeria. The ND is in a bad state, and so are the northern states. The problem we need to tackle is our corrupt leaders, and not waste our efforts on tribal sentiments and superiority complexes.

The sad truth is that there is no tribalism among the corrupt elites. They all live and embezzle like sibling of the same womb. It is only the masses (misguided by same corrupt leaders and their foreign cohorts) that waste their energy bickering over irrelevant tribal differences. To put it in context, one should interact with a Caucasian who sees all of African as black people. Be a Nigerian first and a member of your tribe second. Even the the black people in the US can argue about if they are black Americans or African Americans, they never question being Americans.

We can only become a true federation  when we see our selves as different parts of one body, with each serving its purpose.

Apologies but your post seems to contradict itself. If anything you seem to be the person making the issue about tribes. Nigeria is a federation made up off states, right? Should states be allowed to control their own resource and development hence actually making the arrangement a proper federation? So where does tribalism come into play? A lot o states have multiple ethnic groups so again, where does tribalism come into play?

You advocate each part of the country developing its own industry in order to have something to present in the 'national pot' (for lack of a better phrase) yet you are against resource control which is more likely to bring such into fruition more quickly?

You seem to advocate patriotism but it seems you do not realise that you can't force people to be patriotic and that forcing people against their will while showing disdain for their rights and their own thoughts on their own development (like the federal government seems to be doing) is definately not a good way to incite patriotism.

biina:
and what is 'true federalism'?

The word "true" had to be put in there because what Nigeria is practising has k leg. The whole point of having a federation is that groups (states) have sovereignty (not just limited to governance but also economically) and hence are self existing units that can decide on the course of their development with a general head that links these self sufficient groups together.

Such a system allows states to take the path they want to. Now is this the case in Nigeria? A country that cannot even allow states run their own police force? What if the Niger Delta region for some reason did not want the oil to be drilled again? Ask yourself that question, what if the region thought the oil was more a curse than a blessing and wanted to leave oil reserves untapped, would the federal government allow it? The asnwer to that question will highlight the degree of freedom states are allowed to operate within. This isn't federalism, it is being run like a one state nation with the federal government deciding how every single thing is done, even with the record of mismanagement, innefficiency and corruption the federal government is notorious for. Is oil the only resource in Nigeria?

biina:
Typical of the average NL tribalist. You gunned for the tribal angle and assumed I was a northerner. Simply pathetic. You speak of the northern mindset without being a northerner yourself. Makes one wonder where you got your ideas from. The average northerner could care less about the oil from the ND area (that even if he knows what you are talking about)

The ND seceding would not solve the problem as long as they fail to hold their leaders accountable and the greedy developed countries are still around to exploit them. MEND has achieved nothing in terms of improving the standard of living of the ND people, worse they have put innocent lives at risk. Its is futile to pursue a just argument by unjust means against a stronger opponent.

@JJYOU
The majority of leaders are corrupt leading to poor development of most part of Nigeria, but only MEND is seeking redress by criminal means. Do you feel MEND should be left alone or the FG should succumb to the demand of any and all militant groups?

@ono
Nigeria is heavily dependent on oil revenue with it accounting  for 75% of the countries export value. Nobody can deny that. I am sure that some states don't even contribute to the federal revenue.
Do I feel the ND area deserves a larger share: yes. Should they be given a larger share: Not until there is less likelihood it will not just end up in the pockets of a few corrupt office holders. I see no point in making changes, if it wont improve the lot of the ND people.

All this issues should be addressed via proper channels, and not some militant groups holding the rest of the nation to ransom.

One of our failing is not being able to see beyond the tribal lines. It was same short coming that was exploited by the british in their divide and rule campaign.

Why set those conditions to begin with in the first place like some reward for good behaviour. Is bad governance a Niger Delta thing? The money being shared at the moment, is it being out to better use elsewhere? Why don't we just stick with the basics, should Nigeria practise true federalism?

biina:
There is nothing wrong with the land use act, which essentially allocates the supreme land rights to the federal government, as it is in almost every country. The alternative is to have the federal government being subject to the state, a recipe for chaos and disintegration.

As long as the ND is part of Nigeria, they would have to haggle and debate for proceeds from oil or any other income to the federation. This is applicable to every part of Nigeria. A region should not be allowed to pursue its own selfish interests without the consent of the majority of the nation.

Those that feel the average northerner is spending the oil revenue have never been to the north. One cannot say which is in a worse state of development, the north or the ND.

The question of getting a fair share should be determined by the legislature. We are no longer under military rule, and the reps from the ND are free to make their case. They should be prepared to provide a justification for needing more funds, given that their is no evident improvement since the last increase.

The problem has always been corrupt leaders, and misguided masses. The problem will persist until ND is ready to hold to account, people trusted with responsibility.

I have always been against MEND in any thread where the subject is brought up because the main issue being spoken off earlier on was development, an issue I think should be blamed largely at the past govenor of the states in that region (Odilli, Ibori, etc). I always asked why MEND wasn't going after the ex govenors to ensure the new guy gets that its all about development and also lead the way in getting some form of justice which seems to be lacking in Nigeria.

Now with regard to the land use decree, why does it have to be the case that Nigeria seems to borrow idealogies from everywhere and then only implements the worst part of such systems or idealogies in some cases even turning them on their head? The country is supposed to be practising capitalism and free market yet the Federal government wants to control the industries and economic institutions; the county is supposed to be practising Democracy, it takes the idea of a huge government which means more people being overpayed, yet fails to implement the fundamental issue of a fair selection process; the country is meant to be practising federalism yet it is pretty much the opposite. Why can't true federalism be practised and why can't it just then be a simple issue of the federal government collecting taxes as a means of raising revenue? What is this fear of practising true federalism? Isn't the fear as a result of uncertainties and doubts with regards to where funding for other areas of the country is going to come from?

Now if this fear was admitted openly then that is a start, but asking a people to be reduced to begging for a bigger share of resources obtained from their land is nothing short of pathetic. The Nigerian government is indeed arrogant and this whole idea of speaking from high horses and a position of strength obtained from nothing more than military might is quite irritating.

biina:
At the core, the value of a currency is simply a case of demand and supply. How much do you export and are paid in forex for it, vs how much do you import and need to pay for it in forex.
The issue is not being addressed in a vacuum, else even the contribution of the average street hawker could be said to influence the exchange rate.
I advise you to check historical data on the value of the naira, and correlate it to the price and sale of crude oil.

And I think you might be failing to see the issue in the wider spectrum others might see it. There have been many project that seem to have gone into limbo since Yar Adua came into power, projects either suspended, uncompleted, not running at optimum or simply abandoned. The power issue remains a simple example. What happened to the reported steel mills which would have ensured we not only provide steel for domestic consumption but also produce some for exports. The Lagos port is more efficient than it used to be thanks to restructuring that occured during the last administration due to a change in the 'ownership' and hence a change in leadership of the group running the port (something they are also trying to achieve in Port Harcourt). The Lagos port was so inefficient before that it used to take at least two weeks for ships to dock and offload goods, a situation that caused a lot of importers to use ports outside the country to off-load goods and then transport the goods via roads into lagos from benin. As a result of the inefficiency, the rate at which goods were traded was affected significantly to put it mildly. Just think about it for a sec, Lagos is the main port in the country through which mosts of the goods brought into the countmry comes through.

I won't continue to bore you with things you already know, but as you can see, considering the federal government has put its hands in so many pies and was therefore needed for something as simple as port restructuring, how on earth can you then compare the influence a common street hawker would have with things like efficiency in trade or ratio of exports to imports, with the influence the federal government would have on similiar areas?? Doesn't the federal government run NNPC? We could start with something as simple as that before branching into the issue of how much crude oil is sold, go into the whole issue of Nigerians spending billions importing fuel from other countries because of the state of refineries in the country. Would these issues affect foreign exchange?

Economic activity is governed by the institutions and industries of a country, such factors the Nigerian government has had a history of controlling even with the long history of innefficieny and corruption that has plagued such a decision.

biina:
ROTFLMAO.  I advice you go and learn basic economics before you venture into the topic of currency valuation.
FYI the naira is sliding.

A government can indeed have an effect on the economy and value of a country's currency. It is easy to throw around economic jargons around but at the end of the day when brought down to its basics the issue is investor confidence. No need to take my word for it, wall street is a perfect example and testament to the shaky foundations the financial system is built on, a foundation which cannot be completely overhauled even with reforms. During the period of uncertainty when the credit crunch was about a year or so old and banks were failing left and right, a lot of banks collapsed based on mere speculation, speculation which is what at the end of the day a huge chunk of investor confidence and the financial market is based on in the first place. You might think the economics and finance of text books apply all the time but honestly speaking you might be shocked at how paper thin the foundations actually are.

How can such apply to Nigeria with regards to @naijaking's postulation? Continuity in government and hence continuity in policies and direction is an issue in african countries. Nigeria has very weak institutions which means whenever a new man gets into a post, a lot of the times there is hardly ever any continuity in economic policies, these affects markets quite easily due to the volatile foundations I highlighted earlier. I personally believe Yar Adua being president and the complete headlessness and lack of direction of his government has strongly affected the economic situation and even the value of the Naira. Some people might argue that the Naira falling is simply a result of the credit crunch but I beg to disagree. Nigeria has a very huge market and investors can get HUGE returns, just ask the guys who run the Palms shopping Mall. So why isn't buiness booming then and why aren't investors rushing in? The issue is RISK. It is a potentially good market with regards to return in investment but it is also very highrisk due to some of the issues I highlighted (lack of institutions, etc) and other factors ranging from infrastructure, insecurity, etc. Things investors won't mind overlooking and simply including as extra costs if there was investor confidence in the first place.

[quote author=Aloy.Emeka link=topic=275040.msg3904515#msg3904515 date=1242946712]You are right but do you also know the military will settle this judgment with tax payers money?[/quote]That is why I said a jail sentence would have sealed the deal. The precendence of actually doling out punishment is good but the sentencing could have been a bit more clever. Nevertheless, the citizens are getting compensation.

[quote author=Aloy.Emeka link=topic=275040.msg3904491#msg3904491 date=1242946358]Guy, I'm not sure these people will see N1M in 10 years time. No be Naija?[/quote]Sorry but that arguement of "no be naija?" has long grown stale with me and does not serve as a valid excuse to me anymore. There was news today of a LASTMA offical being given a jail sentence for collecting bribe, how on earth could that have happened . . . .  . I mean, "no be naija?". Let us stop using such excuses to justify lack of work on our path as citizens. You see something that bothers you so much that you are willing to whine about it online? Ask yourself what you are doing to change it?

[quote author=Aloy.Emeka link=topic=275040.msg3904457#msg3904457 date=1242946013]Will the military pay?[/quote]The AGF was mentioned. If the money isn't paid then it is up to the people to pursue it further and sue the party involved be it the AGF or military. All that is needed is a precedence and by the time Nigerian's begin to get it into their head that they don't have to take such rubbish and they can sue, the military and other bodies might be forced to behave themselves when they have to fork out billions a year for settlement cases. If only the officer was given a jail sentence to go along with the fine, that would have really sealed the deal.

Another good precedence. I hope the story is being massively publicised in the Nigerian media.

PurestBoy:
They should kill him joo so that his successor will learn how not to switch off power.

I hope and believe you are joking with such insinuations. We all hopefully know that the problem with power supply is that there is no power to supply in the first place, period. It is pretty much ludacris for anyone to expect every part of the country to have light at thesame time. Kidnapping the PHCN director won't magically particulate more power plants.

Again here we have a problem and it is greeted with more lip service and debate. Things do not have to be the way they are. If people want to be proactive with their time, go to the National Assembly website and obtain contact details of as many reps as you can and start a lobby for a push for the abolishment of the bill that denies states the right to develop power for their consumption or better yet even propose a bill. All these "debates" have been done time without number.

JJYOU:
so we shouldnt do anything at all?

Where on earth did you get that from?

JJYOU:
we can start by embarrasing them big time. enough of this do nothing mentality. romanians sorted out theri Nicolae Ceauşescu, the phillipinos Ferdinand Emmanuel Edralin Marcos

when will nigeria lead africa in sanitising politics and governance?

I hope you will follow suggestions and ideas with some form of action instead of yet again another case of debating ideas and letting them die online. When people post stories or make postulations with regards to the situation in Nigeria they should ask themselves what they can do about it more often instead of yet another post for the simple purpose of yet another debate (personal view).

fyneguy:
I support the idea behind this move. However, some sundry issues may crop up and we may have landlord-tenant shouting matches all over the place. I'll suggest a quarterly or bi-annual rents with a month security deposit. Tenants must renew their rents a month before expiration.


I also believe this policy will reduce property value, as it'll be difficult to recoup one's investment pretty fast.

If it achieves the effect in bold then about time, property value in lagos is ridiculously overvalued and overpriced, only getting to such levels due to simple supply and demand. Anything that can begin to reduce prices of property can't be a bad idea as it might help mitigate the effects of the seemingly inevitable property bubble burst in lagos which has been long overdue. I am yet to see what I might deem a genuine negative implication of the proposed bill.

ElRazur:
I see your point. The ultimate problem that would happened in my opinion are what I already raised.  Landlord can ask what they want, it is their property and as such can do and undo. Fashola stepping in amounts to some form of control.

Again I cited forces of demand and supply. Landlord can charge what they want, however are people willing to pay for it?

Landlords can still charge what they want, that right is not being stepped on, they just simply wouldn't be able to ask for five years advance which is simply ludacris and has gone on for too long. Whether people can afford prices or not isn't the issue. If prices are too high nobody will rent and supply and demand will simply adjust the scenario. Again, this is not about inteferring with rent prices, it is about ludacris pay advances. We read same article so where are you getting your maggi and pepper from? 

Anyway, won't argue much longer, I support the move and its about time. The bill will give relief to ordinary citizens and protect them from predatory landlords.

Read the article and I am yet to see what the problem is. How is interferring with advanced payments inteferring with setting price? Price interferance is fixing prices of rent, which was not at all mentioned in the article. What was however mentioned was stopping the act of landlords asking for years in payment of rent upfront, it is basically regulating on such a henious act that gave landlords so much power to prey on the innocent. So how does supply and demand factor into such an act which is nothing short of bullying? Supply and demand affects prices of rents, if landlords want to put up their rent nothing is stopping them. Good move and about time too. It would put some power in the hands of ordinary citizens.