₦airaland Forum

mmsen:
She is doing something very wrong. It's only because the citizenry are so stupid that most cannot see it.

A condition of being in government should be that you use public facilities so that you are forced to see what the true state of the nation is. If you cannot do that don't enter government. Then you'll soon see who the real 'public servants' are and who exists to line their own pocket.

Govt officials should do more to demonstrate their love for this country. However if we are to condemn, let it be across board. Ngozi Okonjo-Iweala has a US passport, Gov Obiano will go back to the US after his tenure, Gov-elect Prof Soludo has his family abroad and I can cite many more examples. To be clear, I see nothing wrong in it as long as we can see the commitment to Nigeria through their service.

vedaxcool:
Isn't it the same woman that got married to Buhari? The madness of the Nigeria media especially social media lunatics is unparalleled!

This is what came to my mind when I read this piece. Social media went overdrive last year over her planned wedding to Buhari and how Aisha had to rush back to stop the wedding bla bla bla...

Nigeria did not break up in the 16 yrs of PDP being in power, why will it now break up in 2023? There will be an election in 2023 and a new President from the winning party sworn in. Nothing else will happen. Politicians are divisive, they will do anything to get to power. All we want is a transparent electoral process that enables the people to choose their leaders. All need to get involved

omowolewa:
How will they execute this? Not even subsidized Mass Trans.


FG should better work with Dangote Refinery on how to speed up commencement of business. What happened to Crude oil swap arrangement!

I'm with you here. Working with Dangote to ensure that refinery comes on stream next year is still the best solution to all of this. Importation will reduce dramatically and cost of petrol from Dangote refinery will be in the region of N200- N250 per litre so still reasonable. Diesel, kerosene and jet fuel prices will also come down

How can Tundun place his father in the same bucket as Nnamdi Kanu? I can't understand it. Best she can do is to campaign for proper justice to be delivered or join groups that are seeking for a political solution

2mNaira:
The bolded happened after the massacre.

Attempted jailbreak at Ikoyi prisons, burning of police stations and killing of policemen amongst others were before the Lekki incident. What do you think led the Governor to declare a curfew that day?

BafanaBafana:
Illegal protest. There was a curfew in place.
Secondly, the military can be called in when the police are overwhelmed

Which is what was done. The police were already overwhelmed with their stations, cars burnt and some of them being killed. They were running for their dear lives. Recall Lagos was already in crisis with attacks on public and private businesses, attempted jail breaks and chaos. It is disingenuous to keep saying the protesters were unarmed and harmless. All the crises around were in #EndSARS' name, rightly or wrong. The first few days of protest was well supported by all, even the state govt came out in support, the FG acceded to all the demands. When it persisted despite wise calls to dialogue and it turned into a movement calling for govt overthrow, it will be difficult for govt not to seize back control.

maridrug:
GEJ would have been the best if we allowed him to remove the subsidy.
Alas, we preferred a primary six certificate holder to a PhD holder, why won't we retrograde?

While I agree that we should have allowed GEJ remove fuel subsidy in 2012, I do not necessarily concur with the opinion expressed subsequently. Recall GEJ earned the highest revenues as President but what happened? Didn't result in infrastructure as we are now witnessing, in fact that govt started borrowing towards the end to pay salaries. Many of those who looted massively at the time are still being pursued.

On the IMF advice regarding removal of fuel and electricity subsidies, my take is to focus on completing the refineries and putting the power infrastructure in place. On refineries, the cost of fuel will marginally go up in a way that won't cause debilitating inflation. Refineries themselves will be operating at a profit as shipping, demurrage and other ancillary costs associated with importation will be eliminated from the cost structure. It will also boost local jobs as thousands will be sustainably employed either directly or indirectly. Furthermore, we won't be constrained by opec quota as we can refine as much crude as we want locally thereby satisfying local consumption cheaply and even having enough to export to our African neighbours and make forex revenue. Our neighbours will be glad to import from us because it will be cheaper than importing from Europe, America or from elsewhere.

On Power as a whole, once the generating and transmission capacity is built, everything else will fall in place. We have abundant gas reserves to run gas fired power plants and generate no less than 25 GW in say 3-4 years' time. I will encourage govt to fund gas supply projects and power plants to build this capacity. Once that is done, it will be easy to convince consumers to pay more for electricity as it will be abundantly available. To be practical, you focus on charging high tariffs to rich neighbourhoods and businesses (some of that is happening now but not sustainably as power is still being rationed). The rich folks will not mind paying higher tariffs as this will still be cheaper than what most of them pay on electricity today. Govt can then use those higher tariffs to compensate the poorer areas who can't yet afford the high tariffs until such a time when there is a general uplift in standard of living to support higher tariffs by this set of our population. The solutions above are practical if a sincere govt cares about leaving a legacy than winning the next election as some of these may be long term in nature with no immediate gains.

Poanan:
There u go again. So do u buy equity in a firm forcefully? Why cant u say u and I should be free to buy into the electricity companies? Do u think they dont have subsidized things abroad? IMF is only saying that cos they are tired of giving out loans. When they go to take those loans we dont know what is in the proposal.

You subsidize what gives you value i.e. if it will create lots of jobs or makes your exports more competitive than your competitors. Certainly shouldn't be subsidising consumption like we are doing with petrol

Subsidy will not be removed until Dangote refinery comes on stream. It is just too risky for PMB and APC to pull off ahead of an election in less than 2 years' time.

backbencher:
I think we should privatise the railways

But that means ticket prices will go up well well

See British railways . In the 1970s when it was goverment run, tickets were very cheap. Now as a private enterprise tickets are very expensive.

Nigerians won't agree. And no private company is going to come in and manage the railways and keep prices low. They won't recoup their investment and make enough profit to expand the railways

Good point. If we don't privatise, there can't be competitive services and further investments. There is a limit to what govt can do. To stop corruption and ineptitude, you have to let market forces determine prices. See the telecoms sector which is privatised and compare with NRC. We want good services and good pay but are not prepared to pay for them. We want subsidized prices for everything, so make do with subsidized salary. We want to make omelette but do not want to break eggs

I sincerely sympathise with the workers and govt should try to meet them halfway. However, I dont believe train drivers earn 30k per month. That is FG's minimum wage which they pay religiously, only some states have problems paying. I even heard 26k per month on Arise TV this morning. Are they saying train drivers are the least paid in NRC? Not cleaners, office assistants and other lower jobs in that same organisation? They also said the last review of service conditions was in 1983, haba.

Can we think of privatising the railways. Govt has put rail infrastructure in place. Time now for private professionals to manage them. You will find out that NRC staff are bloated in numbers and not very efficient, yet they want 350% raise. We don't need to increase our wage bills and keep crying about bloated recurrent expenditure. Let private hands take over. They will bring down cost of operations, maintain only required staff who are well paid and motivated.

PDP in Lagos....hmnnnnn. They need a blueprint to overcome

Empty rhetoric with no specific measurable action to achieve the objective.

Buhari should hurry and sign that bill into law. While not solving all problems, it helps to reduce influence of overbearing governors and moneybags in the parties. Little steps in the right direction are required

Omicron007:
This signature curses and wailing has been your only means of consoling yourself.
The curses is rubbish. You have been laying curses and spewing trash for years on this forum.
How many Nairalander's obituary have you seen?

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Have you prepared your tasteless barbecue at any Nairalander's funeral?
During the last attacks by these terrorists, a One-Star General and other gallant soldiers paid the supreme sacrifice.
We saw their pictures. We prayed for the repose of their souls.

Now, they claim more than 30 terrorists have been killed.
Where are the pictures? No evidence.

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This is what they have been saying for years, yet the war has not been won. Even though your APC spokesman, the shameless Liar Muhammed said they have been technically defeated.

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You can't bully or intimidate anyone on this forum. We shall continue to speak our minds and stand against tyranny, corruption, fake journalism and Zombie Work.

Greet your other monikers, and NLPolicewoman for me.

I assume your phone is slow and cannot multi-task, that's why you cannot login the three monikers all at once

So keep praying for the success of our gallant troops regardless of reporting biases. The duty of citizens is to support those who lay down their lives to protect them. Fighting terrorism and insurgency anywhere in the world is not easy. US was in Afghanistan for 20 years yet the Taliban is now back in power. Despite best efforts, terrorists still inflict damage on soft targets. Our troops are fighting on multiple fronts and the least we can do is support and keep their morale high. At least weaponry to fight have steadily been delivered to our troops thereby increasing their chance of success.

adioolayi:
Has Naira gained against USD since then?

What's the impact of the policy on the price of food items and common commodities

Policy that has no positive effect on the economy and well being of average Nigerian , to me is just a paper policy.

Make una continue to put out statistics that we don't feel the impacts in the real sense of it..

Price of cooking gas is now out of reach of average individuals.

Nonsense!

When you are in a hole and sinking, the first thing to do is to stop digging. Next is to work your way back up. There is logic to these things

The topic of the side conference session was global infrastructure. Buhari had every right to bring up the topic at that forum. Nigeria has a huge infrastructure gap of $150bln per year for 10 years, hence the $1.5trillion figure. If he doesn't say it, who else will?

From what I read, he is asking for investments. I didn't see where he was begging for loans. Even on the subject of loans, we have not defaulted in paying our loans these past 6 years hence the appetite for multilateral institutions to provide more. Our bonds are usually oversubscribed, giving an indication of confidence though at a high interest rate which is a function of perceived country risk.

Infrastructure is required and it is only a bold govt that invests in it because the dividends don't show till years after investments are made. The typical politician doesn't think beyond 4-8 years and therefore will not focus on long term benefits of solid infrastructure. Buhari should bear the current burden and criticisms in good faith and see it as his own contribution to Nigeria's development. I believe history will be kind to him in years to come.

The NNPC said road choices were made based on importance to haulage of Petroleum products across the country and is part of agreement reached with NUPENG that led to the shelving of its planned strike.

It is debatable if Niger State alone has the most important roads for Petroleum haulage but it is better to still fix roads irrespective of where they are in the country rather than politicians looting the money. Eventually, most roads across the country will get fixed.

Within the North, I haven't heard people screaming why Niger State alone got the lion share. It is a sign of political maturity that we should all try to imbibe. PHC and Warri refineries are being upgraded at over $2bln, Lagos-Calabar coastal rail is planned to be awarded at over $11bln. Most private firms who take advantage of this executive order to use tax credits for infrastructure site their projects in the South. There are other numerous multi billion dollar projects going on in the South. If NDDC judiciously uses its funds for infrastructural development in oil producing states, those places would have long turned to Dubai. Why do we scream Southern marginalisation every time? I support use of tax credits for infrastructure as it side steps use of corrupt govt machinery to execute contracts which are often poorly done if ever done, with most of the monies entering private pockets. Private firms will do better quality jobs at less the price with more transparent tendering processes that deliver timely.

My point is, let us see the bigger picture than this myopic ethnicisation and castigation of efforts at developing every part of our country.

PDP should present a relatively young, vibrant and performing presidential candidate otherwise they stand no chance of winning the Presidency. They have not demonstrated why they deserve to be voted back into office after the largely wasted and corrupted 16 yrs in power.

APC seriously dropped the ball but I imagine they will commission so many projects in the next 2 yrs ahead of elections that will be difficult to ignore.

The credibility of her call in my opinion could have been boosted if she also talked about those who were severely impacted by the fallout of the protests. Close to 40 security people lost their lives while thousands lost their means of livelihoods (close to N2trn in economic losses). That balance is often lacking with many commentors on the EndSARS issue

isuomo:
Punch newspaper in the time of Buhari, has moved from being a respectable newspaper decidedly to become a news rag that now peddles falsehood and amplifies fake stories picked on social media. I no longer take you guys serious the likes of Lekan Are, Aboderin will be turning in their graves whilst baba Ogunsola will not recognize the newspaper he thought he left in competent hands.

Biased editorial. Responsible journalism demands a balanced view. Looks like Punch Newspapers is the mouthpiece of Afenifere

El Rufai said he jokes about size with his SE governor colleagues. He could have made the point without referencing 'all' the SE states knowing how sensitive that is. I guess he added Lagos to balance the narrative.

I can see his point, knowing the penchant for people to denigrate his efforts at securing his state. He is saying guys, it is not as straightforward as you all think. There are loads of ungoverned spaces in Kaduna State and the number of security forces on ground is just not enough to secure every inch of ground. It doesn't mean the entire state is insecure. He made no reference to economic viability or status. If he did, he would have reminded us that his state generated IGR way above many other states (only behind Lagos, Rivers, Delta and Ogun i think), certainly ahead of states that like to poke fun at him. He has harnessed human talent and put them to work irrespective of where they come from or their religion. This is yielding economic results that other states should copy. Regardless of El Rufai's gaffes and aggressive attitude, he is doing very well in Kaduna. A visit there will open people's eyes.

alizma:
Do you know the difference between official and black market rate, which of the two did CBN accused abokifx of I'll practice on? if yes, what was the rate when abokifx was stopped and what is the current rate?
Though a little, the rate has since dropped from what it was when abokifx was stopped and I don't know what you are blabbing about. I also tell you that prices of goods that have direct link with the dollar has reduced since. CBN decision on abokifx has yield result positively. Is only people like you who don't know what the subject of discussion is that are busy jumping around talking nonsense. Go and read the link you personally referred me to, one of the link clearly stated that naira has recovered a little on the market where abokifx carried out it's activities.

I agree with what you and AntiWailer have been saying. Clearly govt forex policy flip flops over the years brought the naira to its present state. But on the issue of abokifx, CBN did the right thing. I suspect the trust people had for abokifx since 2016 was abused in the past few months. The question many people have not answered is why the steep decline of the naira was halted once abokifx was forced to stop publishing parallel market rates which in itself runs foul of CBN laws?

In the short term, we need to refine locally and save 40% of current forex demand for petroleum products importation. Next, we need to float the naira and remove the arbitrage that is so conducive for speculators within and out of govt. Longer term, we need to improve productivity, export more and import less and consume what we produce

adonainana:
Lol hope you haven’t realized or seen sentiments in the post you just posted “osibnajo said and markets started reacting, Aboki Fx, etc I pray you will be able to survive the next phase of inflation coming Nigeria’s way

I really pray you do

It is a dilemma. Rigidly sticking to an official exchange rate is artificial at best. It works if you are generating enough to support the official rates but it is not so at the moment. Arbitrage is the bane of our forex woes at least for now. Raising productivity and exporting to generate more is the next step

Tpharell:
You my friend are out of touch with reality

Pls share why you think so. I stated what I thought was happening and the best way forward. Having different rates gives room for arbitrage which is the key problem. Most people buy forex at the black market price not at the official exchange. Think about that for a sec

I see it differently. When abokifx was shut down, parallel market rate was N570-580 to the dollar. Since then, the slide has halted and gradually being reversed as parallel market rate is about N565 to the dollar today. The exchange rate at the NAFEX window is what is weakening and rightly so. It is as VP Osinbajo suggested - the official and parallel rates should collapse and meet in the middle somewhere, determined by market forces and the supply of forex to the economy will greatly improve. Patience guys, it is a matter of time

Does anyone have more pictures that comprehensively tell the story of the upgraded Akanu Ibiam Intl airport Enugu? Keen to appreciate what is on ground and what may still be outstanding.

And this is the sort of person Dele Momodu supports. Been listening to his utterances, thought process and plans. Nothing inspiring, very owambe-like thinking and frankly quite shallow. I urge the people of Osun to choose wisely

Difrent:
Diesel had been deregulated....why are you expecting government to still have a hand in it....so tomorrow you can call the deregulation a scam

Its the usual forces of demand thats at play....and deregulation proponents have always said the price will be dictated by forces of demand and supply ....so why all this fuss

You now see the reluctance of government to fully deregulate petrol....until we have sufficient local capacity....it will be suicide as petrol may reach 500naira per litre

I agree. Many countries with deregulated product prices are going through the same thing. Just google price increases in the UK and US for example. Once oil price goes up, expect fuel and diesel prices to increase, it is the forces of demand and supply.

As you said, petrol price deregulation should only be done when local refining capacity is adequate for our needs

Ezewuzie01:
Andy Uba the APC candidate was mentioned in the Panama and Pandora papers for massive fraud but instead of AG Malami to prosecute him, they are trying to force him into Government House Awka. APC are enablers of corruption.

I'm not sure APC is fully supporting its own candidate in Anambra elections, Andy Uba. He has been grumbling about how PMB and VP are not committed to campaigning for him. In my opinion, PMB secretly supports Soludo and upon his possible victory, will work for him to decamp to the APC.

Nigeria will exist beyond 2030 for sure. There is nothing new in these doomsday predictions. The almighty US predicted Nigeria's demise on or before 2015, we all know how that went.

Suswan and all these old politicians that have looted our collective heritage should shift to one side. The youths definitely don't need their mentoring.