₦airaland Forum

IconicR:
No be only content creator, I'll soon be off here once again

Thanks all the same

Pepper dem gang. Green is pepperoni

I agree. City boy wey dey Miss Road. Running Cataclysmic economic cum Chaotic Charade. Red 👀👀s every Korner.

IconicR:
No be only content creator, I'll soon be off here once again

Thanks all the same

👀Haaa......aaaah.

IconicR:
No one can

Noted. Content creator must be well protected here! Such is yours.

Sighted Blueberry.

Haaaaaaaaaaaaa. See Finishing. I need a Crude Laughing gas N²0.

👀👀👀👀👀👀

IconicR:
All barks
All of them are online horse

Little message, Neva allow anyone bully U. Be U .

Gadafii:
Niger delta people can not refine their own oil, it’s called oil bunkering, but zamfara people can mine their own gold privately 😂😂😂

This country na comedy

👀

udede:
Which of them can land a rocket on the moon. All of them are 6st worlds with zero say at the big boys table.

Haaaaa. U funny 👀

IconicR:
They should stop posting corpers to these zones

Pnk girl. Just dey pepper us with ur uncountable pics

Racoon:
Nostalgic moments I tell ya.

D Lion , egbon, Man in D Cacoon.

udede:
Which of them can land a rocket on the moon. All of them are 6st worlds with zero say at the big boys table.

Haaaaaaaaa. 👀👀☢️🚭

DonXavi:
BRICS rejects Nigeria, invites Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the UAE to join developing world bloc

The five BRICS developing nations have rejected Nigeria's application to join, announcing it will admit Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates, a move aimed at growing the strength of the bloc as it pushes to rebalance the world order dominated by the US and western countries.
BRICS - whose acronym was originally coined by an economist at Goldman Sachs, currently comprises Brazil, Russia, India, China, and South Africa.
BRICS has pledged to address the grievances of member countries over a world order they feel favours the US more than other emerging economies.
The expansion announced on Thursday, August 24, could also pave the way for other countries to seek admission.
Economic sanctions imposed by the West on Russia for its invasion of Ukraine and China's declining relations with the United States are spurring the bloc to turn BRICS into a strong counterweight to the West economically and politically.
"BRICS has embarked on a new chapter in its effort to build a world that is fair, a world that is just, a world that is also inclusive and prosperous," said South African President Cyril Ramaphosa, who is hosting a summit of BRICS leaders.
The six candidate countries will formally become members on Jan. 1, 2024. Ramaphosa and Brazilian President Luiz Inacio Lula da Silva left the door open to the possibility of admitting other countries in the future.
"We have consensus on the first phase of this expansion process and other phases will follow," Ramaphosa said at a media briefing.
Lula said globalisation's promises had failed, adding that it was time to revitalise cooperation with developing countries as "there is a risk of nuclear war",
United Arab Emirates President Mohammed bin Zayed, whose country is already a shareholder of the bloc's New Development Bank, said he appreciated the inclusion of his country in the expansion.
This membership expansion is historic,” said Chinese President Xi Jinping, whose nation is the most powerful in the group of non-Western states that represents a quarter of the world’s economy.
“The expansion is also a new starting point for BRICS cooperation. It will bring new vigour to the BRICS cooperation mechanism and further strengthen the force for world peace and development”.
Ethiopian Prime Minister Abiy Ahmed hailed what he called “a great moment” for his country, the second-most populous in Africa.
“Ethiopia stands ready to cooperate with all for an inclusive and prosperous global order,” he said on X, formerly known as Twitter.

https://www.lindaikejisblog.com/2023/8/brics-rejects-nigeria-invites-saudi-arabia-iran-ethiopia-egypt-argentina-and-the-uae-to-join-developing-world-bloc-2.html

Nigeria is under MINT Emerging powers. This is were we suppose focus on and build

Mexico
Indonesia
Nigeria and

Turkey.

Pierocash:
Make it 600k. Thieves.

Don't mind him. 2,5 Mi will be a fair price for d trip .

Erroneous storyline:

10,000 pounds is approximately 10 Mi Naira . This is not a bad money in Naija despite gross depreciation of our currency and poor purchasing power .

Naptu is the Egbon encyclopedia in Media space. Well grounded. The real OGeeee.

tnerro1:
.if they don’t want to cancel this NYSC, then let the northerners serve in the north and help their own people while the southerners does the same thing 😔😔😡

This motion was supported 100/100.

PART 2


21st August 2023


Credited Punching.com

Credited Tella Sheriffdeen


On legalising illegal oil refineries
21st August 2023


Sheriffdeen Tella
Sheriffdeen Tella

By
Sheriffdeen Tella
Kindly share this story:

It is not uncommon to read reports of the destruction of illegal refineries in the Niger Delta region. The appellation ‘illegal’ could have arisen from the fact that the crude oil being refined was stolen from the oil rigs or reserves; or probably because the refineries did not go through official company registration with the Corporate Affairs Commission. It could also be because the refineries are too small and the production processes are quite crude to bring out pure, refined fuel that would not be catastrophic to the operations of vehicles.

There may be many more reasons to justify the term illegality. However, my interest is not the illegality of these businesses but that they are referred to as ‘refineries.’ They produce crudely refined petroleum from crude oil. They do so and are able to sell the output because the existing refineries cannot meet domestic demand, having been producing below the required capacity over the years. The discrepancy gives room for the importation of refined oil in an oil-producing country! The sub-optimal operations of the legal refineries gave birth to payment of illegal subsidy that grew at a rate over and above the crude being legally exported.

In April 2022, I wrote that just because Shell moved out or stopped production we could not meet up with oil production as required and just because Dunlop stopped producing tires, we have to depend on importation of the products. After over 50 years of oil production, we cannot take over or indigenise oil production to fill the gap created! We cannot refine our oil and take advantage of all the by-products attached to the crude oil. Those who use crude methods to get what they need from the crude oil are tagged as illegal refiners! Instead of helping them to standardise and modernise we pursue them to the bush, just because the corrupt officials will not get anything out of such operations.

It took the late irrepressible Tai Solarin lots of efforts over some years to get our locally prepared ogogoro (akin to imported dry gin) to be officially and legally recognised. Many people were arrested and prosecuted for producing the so-called illicit gin. The ogogoro was derided and demonised for being produced by ‘illiterates.’ Tai was relentless in fighting for the recognition of the product until it was eventually approved and allowed to be sold publicly. Today, some Nigerians export the same ogogoro abroad, earning foreign exchange in the process. That was possible because studies were carried out openly on how to improve the quality in terms of production and marketing. The tag of illegality would not have made this possible and Nigeria is better for those singular actions today.



How Removal Of Fuel Subsidy Pushed Me Into...
The illegal refineries have been subjected to destruction many times and for many years. Yet, they continue to spring up because that is the source of living for the owners and there is a demand for their products. They are better than those who lift crude oil illegally for sale outside the country causing great losses and pains to the Nigerian economy. They are even better than the Nigerian government who sell crude oil, make money and steal the fund for personal and family use at the expense of the citizens and the economy generally. Their activities may be illegal but they also want to live and need help. If the government had helped them, it would have also helped the country. Let us digress.

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Chief Obafemi Awolowo remembered the existence of money lenders and the havoc they were inflicting on poor folks who had to borrow from that source, having himself been a victim. When he had the opportunity as the Premier of the Western Region, he did not tag their business as illegal financial services; he categorised them as financial operators in the informal sector and put in place an alternative source of finance for the poor citizens. He harvested some of the Yoruba traditional financing methods by encouraging cooperative societies where people would come together to contribute their small funds and lend to members in return. Eventually, his government created the Cooperative Bank where all the different cooperative societies could keep their funds and borrow individually or collectively at moderate interest rates. It was a reform that took the shine off money lenders and promoted banking habits for the benefit of the citizens and the region. It was one of the many legacies of the great man that turned the Western region into the commercial hub of Nigeria today.

What lesson can we learn from this? The government should legalise the so-called illegal refinery operators and get them registered as petroleum product cooperative producers. Their activities can be integrated into the curriculum of the petroleum institute to give them free training on how to improve on different stages of crude oil refining on a small scale. The recognition will immediately stop bunkering and the attendant environmental pollution in their areas of operation. At the initial stage and for the next two years, they can be supplied crude oil freely but they will pay tax on sales and income tax by their staff. They could be saddled with the task of preventing crude oil theft in their areas of operation as their contribution to the national reforms in that sector. More important is the fact that supply from their operations will be part of the domestic output that will reduce importation and the attendant capital outflow; more so, when the Dangote refinery supply has become unreliable.

In the article of April 2022, I asked a number of questions, including whether the Nigerian National Petroleum Company Limited has accurate data on the daily production of crude oil. I also asked if the country had oil monitoring equipment controlled by Nigerians. Recent revelation has shown that we do have monitoring equipment but not in use or used discretely for the benefit of the oil thieves and their collaborators as against being used for the nation. Furthermore, I asked, “Do we have intelligence units of maritime and security manned by Nigerians?” I then suggested that the country needed to look at how to improve the conditions of those who engage in ‘illegal’ refinery through training, capital empowerment and refinement support rather than pushing them further into the sea and invariably causing deep sea oil spillage and environmental degradation. Once these crops of people are recognised and assisted, they become part of the unofficial security outfit in the protection of their source of living.

Since President Bola Tinubu has decided to follow in the footsteps of some of his predecessors by taking the portfolio of the Minister of Petroleum Resources, he needs to act differently. Those predecessors acted as absentee ministers, carrying the title without responsibility. A petroleum minister must be deeply interested in what is going on in the petroleum sector. Why are the refineries not working after so many turn-around payments? With available records earlier, the Warri refinery should be working by now but it’s not. And the President has assured Nigerians that the Port Harcourt refinery will add to the domestic supply by December 2023. Will it?

The President should be able to know and tell us how much crude oil is being sold in the international market by looking at international data at the end port, not the figure being branded locally here. The international figures at the port of entry into the international markets are more reliable and the data can tell us the amount of illegal shipment of crude, the amount of money we should expect from oil exports, and how close we are to meeting the OPEC allocations. The President should be able to visit the refineries aside from pressing a button on his computer to get appropriate information. Of course, the work of the petroleum minister is a big task and that is why a Minister of State is desirable and available. But the Minister of Petroleum must equally be active in the office and on the field. Fortunately, if fuel prices are rising, the way it has been in recent time, the President cannot claim ignorance. He will be held responsible. If domestic production of crude oil and refined petroleum isn’t meeting the required figures, the President/minister will be held responsible, not the Minister of State.

Kindly share this story:

BennyDGreat:
Lool it doesn't work that way. If you like redoniminate 1dollar to 50 kobo....if you don't address the root cause(s) of our naira instability, the redenomination will only make things worse

Say no More, I agree with you.

imbless:
Bro stop capping bullsh!t!!

Re-denomination is never the answer, re-denomination is like a very ugly lady making up, deep down, the lady worwor be say she worwor,
Nigeria economy can't be fixed with all these textbook trial and error policies, for naira can only rise , if Nigeria becomes an exporting economy, favourable government policies that will encourage local producers, attracting more international companies to do business in Nigeria, reducing our debt profile and supporting industrialization.
Any shortcuts policies will be counterproductive.

Hmmmm. Nice one.

vowiski:
There are tons of professors that have made mistakes in life ..

To based your life existence and wisdom on a title is the climax of foolishness ..

Why do you think curriculum are changed ?

Because old syllabus will fail the test of time if they are not reviewed..

It’s the same reason you press update on our phone to get new upgrade..

Continue living off a man who is failing in Anambra , Just because he Carries the title professor.

Mr Crustacean. Despite the opportunity to at least forward your own model , your empty barrel deliver little to desire and expectedly warranted from the lowest of species you belong to. Next time argue with your brain not emotions, if you disagree with a line of thought be civil to expound a better alternative rather than salivates to discredit idealism.

BoldBrainz:
What do you mean by "five words economic model"?

I gave the Messr the opportunity to string an economic philosophy in a sentence that is not more than five words and his also at liberty to extend it as an abstract if he has facts at his proposal. Once in a while Crustaceans deserve to be crushed wholeheartedly on this forum.

vowiski:
Stop exposing your foolishness

Really. If Professor Chukuma Soludo is foolish for projecting this idea and I support his foolishness, so be it . It's only a fool that will dream of flying a car to the moon as satellite. Elon musk too is a fool .

Now , back to a Nonetity like you, with your overwise, kindly project a five words economic model that can turn Nigeria around . Am waiting for your wise reply . Mr Wise.

starstaz:
Only option now. I wlcm it with all my heart.

Imagine someone with 1000 USD in Nashville/ turning Millionaire in Zungeru due to Mal parity. If the west can manipulate us to turn our old currency to yoyo, we too must be wise to manipulate it back to the 1970s era where 1Usd = 60k or N 0.60

Have equally written on this in the past. It's not a new invention but an idea that is reputably driven by Mr Soludo while he was the CBN chief but was shot down by the BDC sponsors.

Only option now. I wlcm it with all my heart.

Imagine someone with 1000 USD in Nashville/ turning Millionaire in Zungeru due to Mal parity. If the west can manipulate us to turn our old currency to yoyo, we too must be wise to manipulate it back to the 1970s era where 1Usd = 60k or N 0.60

Am pro CNG. CNG news is not a new stories in Nigerian airwaves . Buhari and Osibanjo's Aides mouthed this in the early phase of their second tenure in 2019. Nothing come out of it. Trust deficit is very low . Why put CNG utilization date to last quarter of 2024. Dey whyne us. Why not Now .

CNG should be now with all our resources.

Boni and Clyde: premier2

see primitive politics. Destroy peoples livelihood and hand them palliative handout that comprises Mudu o rice, cup of oil and handful of sugar thereafter and cry few months down the line that investors are not coming to Imo state.

na so so hostility to competition, u despise military but hostile to competition and the political class will be mouthing democracy. vagabonds in power.

DeLaRue:
If true, that'll rightly set a precedence that the FCT role is not the preserve of northerners, and confirm Tinubu as the boldest President ever from the South.

The first Abuja Fct Minister is a Yoruba Man. History****

Never mind our prodigal politicians.

Goke7:
Nigerians are funny sha, we all agreed that subsidy was a fraud and now we want it back

Quick reason. The people accept initially that subsidy must go only to realize that the politicians are sharing palliative, a fall out of subsidy removal, in Billions of naira and Holiday allowances in their mail boxes meanwhile the masses were told to wail or wait till 4th quarter of 2024 for their own, CNG etc.
If it's like that, make we dissolve everything.

Akpabio x 3. !!!

Eventhough Nigerians are jokers for ignoring your antecedents, Do not escalate our frustration on your 'Ways and Means' of Looting anything at sight with reckless abandon.

I presumed u are a very rich man, extremely comfortable, and I don't understand why an element like you will ignore governance and insatiate yourself to Filthy Lucre. Ludicrous gluttons in the midst of this national pepperoni APC Govament.