₦airaland Forum

Africa’s Billionaires on the 2011 Forbes Rich List

Posted on March 10, 2011 under Editor's Choice ZeitGeist African Billionaires on the 2011 Forbes Rich List, Aliko Dangote forbes billionaire, Johann Rupert & family forbes billionaire, Mike Adenuga forbes billionaire, Mohamed Mansour forbes billionnaire, Nassef Sawiris forbes billionaire, Nicky Oppenheimer & family forbes billionaire, Onsi Sawiris forbes billionaires, Patrice Motsepe forbes billionnaire

Last year we brought you the comprehensive list of African Billionaires on the Forbes Billionaires List, with commentary on “The Wrongs and Rights of Africa’s Rich List.”

This year’s list broke records in size (1,210 billionaires) and total net worth ($4.5 trillion). China which had 50 billionaires on the list in 2010 doubled its number this year. Mexico’s Carlos Slim remain at No. 1. Africa’s total billionaires numbered 11 in 2010. This year there are 14 on the 2011 Forbes Rich list made up of two Nigerians, 4 South Africans and 8 Egyptians.

Our favourite billionaire for 2010 was the Sudanese, Mohamed Ibrahim a staunch advocate for Africa and a contributor to socio-political issues across the continent. Mohamed Ibrahim who also made it onto the MyWeku rainmakers list for 2010  did not make the cut for this year’s (2011) Forbes Rich List.

Profiles of the African Billionaires (Compiled from the Forbes Rich List 2011)

1 - Aliko Dangote

https://www.myweku.com/wp-content/uploads/2011/03/forbesdangote.jpg

$13.8 B

Net Worth Calculated March 2011

Age: 53

Source: sugar, flour, cement , inherited and growing

Residence: Lagos, Nigeria

Country of citizenship: Nigeria

Marital Status: Married

Children: 3

World’s Billionaires

#51 overall

#1 in Nigeria

The Nigerian businessman’s fortune surged 557% in the past year, making him the world’s biggest gainer in percentage terms and Africa’s richest individual for the first time. The catalyst was listing Dangote Cement, which integrated his investments across Africa with his previously public Benue Cement; it now accounts for a quarter of the Nigeria Stock Exchange’s total market cap. Already the continent’s biggest cement maker, he has plants under construction in Zambia, Tanzania, Congo and Ethiopa and is building cement terminals in Sierra Leone, Ivory Coast and Liberia, among other places. Dangote, who recently bought himself a $45 million Bombardier aircraft for his birthday, has been shuttling back and forth to London for months, in anticipation of a public offering there later this year. Dangote began his career as a commodities trader; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas.

2 - Nicky Oppenheimer & family

https://www.myweku.com/wp-content/uploads/2011/03/forbesoppenheimer1.jpg

$7 B

Net Worth Calculated March 2011

Age: 65

Source: De Beers, inherited

Residence: Johannesburg, South Africa

Country of citizenship: South Africa

Education: BA/BS, Oxford U Christ Church; MA, Oxford U Christ Church

Marital Status: Married

Children: 1

World’s Billionaires

#136 overall

#1 in South Africa

The ‘forever’ part of the diamonds story don’t seem to be rubbing off on the fortunes of De Beers. The world’s largest diamond producer, owned by Oppenheimer, has seen a choppy ride in the last couple of years. Buyers took flight in the aftermath of the 2008 financial crisis and are now slowly coming back led by developing countries such as India and China. The company cut costs aggressively last year and has been selling off some of its assets in 2010, a year that it said was better than expected.Oppenheimer quashed speculation in January that he was divesting the family’s 40% stake in De Beers to Anglo American, which already owns 45% in it. The Oppenheimer family, in turn, owns 2% in mining giant Anglo American, founded in 1917 by grandfather Ernest. Passionate conservationist, owns Tswalu Kalahari Reserve, largest private game reserve in South Africa.

3 - Nassef Sawiris

https://www.myweku.com/wp-content/uploads/2011/03/forbesnassef.jpg
$5.6 B

Net Worth Calculated March 2011

Age: 50

Source: construction, inherited and growing

Residence: Cairo, Egypt

Country of citizenship: Egypt

Education: BA/BS, University of Chicago

World’s Billionaires

#182 overall

#1 in Egypt

Youngest son of Orascom founder and billionaire Onsi Sawiris. Took over leadership of empire’s flagship construction and fertilizer division in 1998. In 2007, sold cement business in Algeria to French construction giant Lafarge. Owns 13.9% stake in Lafarge, and sits on board . Also largest shareholder in cement producer Texas Industries. Had berated management’s poor performance, but recently reached agreement to boost stake to no more than 20%. Shares of Orascom on London exchange plunged by more than one-third after uprising in Egypt.

4 - Johann Rupert & family

https://www.myweku.com/wp-content/uploads/2011/03/forbesrupert.jpg

$4.8 B

Net Worth Calculated March 2011

Age: 60

Source: luxury goods, inherited and growing

Residence: Stellenbosch, South Africa

Country of citizenship: South Africa

Education: BA/BS, University of Stellenbosch

Marital Status: Married

Children: 3

World’s Billionaires

#219 overall

#2 in South Africa

Owns publicly traded Swiss luxury group Richemont, which owns Cartier, Dunhill, makes Chloe bags and MontBlanc pens. Company has been doing better than analyst expectations on the back of accelerating sales in Asia-Pacific. Big on acquisitions: Richemont bought out online fashion portal Net-a-Porter 350 million pounds in April 2010 while his South African holding company, Remgro, bought out private South African investment outfit, VenFin, earlier. Appointed as Chancellor of the University of Stellenbosch,in South Africa where he has an office. With family relatives, owns two of South Africa’s best-known vineyards, Rupert & Rothschild and L’Ormarins; owns one of the country’s most exclusive golf clubs. Launched L’Ormarins 1200 car rally;has been pushed back from October 2010 to end-2011. Recently, he vowed to take on oil multinational Shell, opposing shale gas development in SA.

5 - Naguib Sawiris

https://www.myweku.com/wp-content/uploads/2011/03/forbesnaguib.jpg

$3.5 B

Net Worth Calculated March 2011

Age: 56

Source: telecom, inherited and growing

Residence: Cairo, Egypt

Country of citizenship: Egypt

Education: BA/BS, Swiss Federal Polytechnical Institute; MS, Swiss Federal Polytechnical Institute

Marital Status: Married

Children: 4

World’s Billionaires

#310 overall

#2 in Egypt

Eldest son of Orascom founder Onsi Sawiris played a role in Egypt’s revolution, calling on Hosni Mubarak to step down and new government to be formed. Now seems to be distancing himself from politics. Heads Wind Telecom, which provides mobile services across Middle East, Africa, South Asia, Europe and Canada through Orascom Telecom, Italy’s Wind Telecomunicazioni and Greece’s Wind Hellas. Russian mobile operator Vimpelcom offered to buy Wind Telecom assets for $6.6 billion; Naguib is reportedly considering a revised offer. Failed earlier to sell his telecom assets to South African operator MTN Group.

6 - Patrice Motsepe

https://www.myweku.com/wp-content/uploads/2011/03/forbesmotsepe.jpg

$3.3 B

Net Worth Calculated March 2011

Age: 49

Source: Mining, self-made

Residence: Johannesburg, South Africa

Country of citizenship: South Africa

Marital Status: Married

Children: 3

World’s Billionaires

#336 overall

#3 in South Africa

Johannesburg mining magnate is South Africa’s first black billionaire. Net worth up this year by $1 billion as a result of rising stock prices. Born in the sprawling black township of Soweto and then trained as a lawyer, became first black partner at Bowman Gilfillan law firm in Johannesburg, before starting a contracting business doing mine scut work. Bought low-producing gold mine shafts in 1994, turned them profitable using lean, mean management style. Since then built $1.5 billion (sales) mining conglomerate, African Rainbow Minerals (ARM), with interests in platinum, nickel, chrome, iron, manganese, coal and gold. Benefited from South Africa’s Black Economic Empowerment (BEE) laws, which mandate that companies be at least 26% black-owned in order to get a government mining license. Also holds a stake in Sanlam, a publicly traded financial services company outside Cape Town where he sits on the board.

7 - Onsi Sawiris

https://www.myweku.com/wp-content/uploads/2011/03/forbesonsi.jpg

$2.9 B

Net Worth Calculated March 2011

Age: 81

Source: construction, self-made

Residence: Cairo, Egypt

Country of citizenship: Egypt

Marital Status: Married

Children: 3

World’s Billionaires

#393 overall

#3 in Egypt

Founding patriarch of Egypt’s most famous business dynasty. Onsi’s three sons Naguib, Samih and Nassef run separate Orascom telecom, hotels and construction divisions. Studied agriculture in college after father urged him to pursue farming. Found it boring, and instead opened a small contracting firm in Upper Egypt. Was forced to rebuild after Nasser nationalized company in 1960s.

8 - Mohamed Mansour

https://www.myweku.com/wp-content/uploads/2011/03/forbesmansour.jpg

$2 B

Net Worth Calculated March 2011

Age: 63

Source: cotton trading, inherited and growing

Residence: Cairo, Egypt

Country of citizenship: Egypt

Education: MBA, Auburn University

Marital Status: Married

Children: 2

World’s Billionaires

#595 overall

#4 in Egypt

Mansour and his two brothers debut on the billionaires list, each with their own billion-dollar fortune despite revolution raging in their native Egypt. The Mansours are the biggest sellers of GM vehicles worldwide, and their Mansour Group has other interests including the largest supermarket chain in Egypt and the country’s second largest real estate developer. Sustained little damage during the Egypt uprising; any long term impact remains unclear. Mohammed was the country’s Minister of Transportation from 2005 until 2009; his sprawling estate in Cairo overlooks the pyramids.

9 - Mike Adenuga

https://www.myweku.com/wp-content/uploads/2011/03/forbesadenuga.jpg

$2 B

Net Worth Calculated March 2011

Age: 57

Source: banking, self-made

Residence: Lagos, Nigeria

Country of citizenship: Nigeria

Education: MBA, Pace University New York

Marital Status: Married

World’s Billionaires New to the list

#595 overall

#2 in Nigeria

Nicknamed “the Guru” in his native Nigeria, Adenuga debuts on our billionaires list after making waves with mobile technology. His telecoms carrier Globacom recently launched a 4G network, and he’s invested $1 billion on a submarine cable connecting Nigeria to the rest of the world. He made his first million at age 26 selling lace and distributing Coca-Cola, then won a contract to build military barracks in the late 1980s. He owns a stake in the Equitorial Trust Bank and chairs Niger Delta oil exploration firm Conoil. Adenuga is a soccer devotee and sponsors a number of tournaments.

10 - Yasseen Mansour

https://www.myweku.com/wp-content/uploads/2011/03/forbesYasseen-Mansour.gif

$1.8 B

Net Worth Calculated March 2011

Age: 49

Source: Diversified, inherited and growing

Residence: Cairo, Egypt

Country of citizenship: Egypt

Education: BA/BS, George Washington University

Marital Status: Married

Children: 4

World’s Billionaires New to the list

#692 overall

#5 in Egypt

New on the list. Youngest brother of Mohamed Mansour, 49-year-old Yasseen heads Palm Hills Developments, Egypt’s second largest real estate developer. Builds luxury housing and resorts. Impact of Egypt’s revolution still unclear. Cousin who was Mubarak’s housing minister before ouster in cabinet shake-up, is a shareholder in Palm Hills and other Mansour holdings. He now faces allegations of corruption. Youssef is graduate of George Washington University.

11 - Youssef Mansour

https://www.myweku.com/wp-content/uploads/2011/03/forbesYasseen-Mansour.gif

$1.8 B

Net Worth Calculated March 2011

Age: 65

Source: Diversified, inherited and growing

Residence: Cairo, Egypt

Country of citizenship: Egypt

Education: MBA, Auburn University; North Carolina State University

Marital Status: Married

Children: 5

World’s Billionaires New to the list

#692 overall

#6 in Egypt

New to the list. Older brother of Mohamed Mansour, Youssef, 65, was instrumental in building the largest supermarket chain in Egypt, Metro. Stores spared looting during uprising; loyal employees stood guard daily to defend from theft and stay open for business. Now situation unclear. Devotes time to family foundation, with mission to eradicate illiteracy and promote education. With wife, enjoys collecting Louis XIV furniture and Renaissance paintings.

12 - Christoffel Wiese

https://www.myweku.com/wp-content/uploads/2011/03/forbesYasseen-Mansour.gif

$1.6 B

Net Worth Calculated March 2011

Age: 69

Source: consumer retail, self-made

Country of citizenship: South Africa

Education: BA/BS, University of Stellenbosch; LLB, University of Stellenbosch

Marital Status: Married

Children: 3

World’s Billionaires New to the list

#782 overall

#4 in South Africa

The South African makes the cut thanks to his stake in the continent’s biggest retailer, low-price supermarket chain Shoprite. Known as “Christo”, he also owns a stake in discount clothes, shoes and textiles chain Pepkor (slogan: “Making the desirable affordable.”) Restored a South African farm estate and remodeled it into a five-star hotel, Lanzerac Manor & Winery. Replanted the vineyards around it, created a modern cellar and has restarted brewing wine. Also owns wine producer Lourensford Estate and a private game reserve in the Kalahari.

13 - Samih Sawiris

https://www.myweku.com/wp-content/uploads/2011/03/forbessamih.jpg

$1.4 B

Net Worth Calculated March 2011

Age: 54

Source: hotels, inherited and growing

Residence: Cairo, Egypt

Country of citizenship: Egypt

Marital Status: Married

World’s Billionaires

#879 overall

#7 in Egypt

Middle son of Orascom founder and billionaire Onsi Sawiris. Samih runs real estate and hotel division which owns and operates hotels in eight countries, including Egypt, Jordan, Oman, UAE and Switzerland. Hotel properties in Egypt may take a hit, as tourists flee Egypt due to unrest. In 2010 partnered with French luxury goods company LVMH to develop two resorts in Oman and Egypt under Cheval Blanc brand. Also building luxury hotels and a golf course on a former Nazi supply route in Andermatt, Switzeland.

14 - Mohamed Al Fayed & family

https://www.myweku.com/wp-content/uploads/2011/03/forbesalfayed.jpg
$1.2 B

Net Worth Calculated March 2011

Age: 78

Source: Retail, self-made

Country of citizenship: Egypt

Marital Status: Married

Children: 5

World’s Billionaires New to the list

#993 overall

#8 in Egypt

Flamboyant Egyptian businessman, father of Dodi Al Fayed who died in a car crash along with Princess Diana in Paris in August 1997. A natural born salesman, began flogging homemade lemonade to his classmates during recess; said to have sold Pepsi in market stalls, worked as a sewing machine salesman. Became an associate of businessman and weapons dealer Adnan Khashoggi, whose sister he eventually married. Became a British resident in 1974. Acquired House of Fraser group in mid 1980s, including the venerable Harrod’s department store, which he revitalized and refurbished. Sold it to Qatar Holding for a reported $2.4 billion in May 2010; now honorary chairman. Owner of the Hôtel Ritz in Paris, the Fulham football club, and a castle in Scotland. Anglophile has yet to be granted British citizenship.

http://www.myweku.com/2011/03/africas-billionaires-on-the-2011-forbes-rich-list/

cap28:
why is libya on that list ?- they were the only african nation without a rothschild controlled central bank.

this is how they were able to grant interest free loans to their citizens and give their people a very high standard of living.

Your correct - Libya has fallen.

The countries that remain outside the control of the Rothschilds are - North Korea, Iran.

Time to wake up - and understand the story of your enslavement,

BIS is what they call the Bank for International Settlements. It is located in Basel, Switzerland. Into it pours the cream from the centralized world money whirlpool -- quadrillions of dollars skimmed from the people of the world by the world's Rothschild-owned central banks.

Who owns the world?

Evidently the Rothschilds do. Picture the nightly "international settlements" , money coming in from all corners and piling as high as the sky. All those interest payments on all those economic-hit-men-made impossible poor-country loans, all those credit card penalties and skyrocketing late fees, all those foreclosure clean-ups, all those income taxes , to say nothing of all of that general cleaning out of our piggybanks by non-stop inflating prices for every aspect of our existence. The Big Piggybank it all goes into at the end of the proverbial day is the BIS.

"Central" banks are actually privately owned banks foreign to the country they are in that have managed to strong-arm their way into most nations of the world over the past 300 or so years. Central banking was the brainchild of Mayer Amschel Bauer, born in Germany in 1744, who changed his name to "Rothschild" (red shield) to honor the occultic red hexagram above his father's money-lending enterprise.

The first central bank in America was created by the Rothschild family and Alexander Hamilton (and we thought Aaron Burr was the bad guy!) in 1791, only to result in huge nationwide inflation and government debt. America's second central bank was born in 1816, again with disastrous effects on the people, who elected Andrew Jackson to put an end to it. Jackson achieved this in 1836, and two years later actually paid off the national debt.

It would be many decades (the next century) before the Rothschild cartel succeeded at forcing in a third central bank, which is with us today -- the Federal Reserve (born in 1913).

The Federal Reserve is not owned by the people of America. American money, marked "Federal Reserve Note," is rife with occultic symbols and meanings unknown to most Americans. The Federal Reserve prints American currency, lends it to the American government and charges interest, which is paid for by Americans giving up large portions of their earnings in the form of "income tax." But Americans are not alone ,

Here's a list of the Rothschild-owned central banks of the world:

Afghanistan: Bank of Afghanistan
Albania: Bank of Albania
Algeria: Bank of Algeria
Argentina: Central Bank of Argentina"
Armenia: Central Bank of Armenia
Aruba: Central Bank of Aruba
Australia: Reserve Bank of Australia
Austria: Austrian National Bank
Azerbaijan: Central Bank of Azerbaijan Republic
Bahamas: Central Bank of The Bahamas
Bahrain: Central Bank of Bahrain
Bangladesh: Bangladesh Bank
Barbados: Central Bank of Barbados

Belarus: National Bank of the Republic of Belarus
Belgium: National Bank of Belgium
Belize: Central Bank of Belize
Benin: Central Bank of West African States (BCEAO)
Bermuda: Bermuda Monetary Authority
Bhutan: Royal Monetary Authority of Bhutan
Bolivia: Central Bank of Bolivia
Bosnia: Central Bank of Bosnia and Herzegovina
Botswana: Bank of Botswana
Brazil: Central Bank of Brazil
Bulgaria: Bulgarian National Bank
Burkina Faso: Central Bank of West African States (BCEAO)
Burundi: Bank of the Republic of Burundi
Cambodia: National Bank of Cambodia
Cameroon: Bank of Central African States
Canada: Bank of Canada - Banque du Canada
Cayman Islands: Cayman Islands Monetary Authority
Central African Republic: Bank of Central African States
Chad: Bank of Central African States
Chile: Central Bank of Chile
China: The People’s Bank of China
Colombia: Bank of the Republic
Comoros: Central Bank of Comoros
Congo: Bank of Central African States
Costa Rica: Central Bank of Costa Rica
Côte d’Ivoire: Central Bank of West African States (BCEAO)
Croatia: Croatian National Bank
Cuba: Central Bank of Cuba
Cyprus: Central Bank of Cyprus
Czech Republic: Czech National Bank
Denmark: National Bank of Denmark
Dominican Republic: Central Bank of the Dominican Republic
East Caribbean area: Eastern Caribbean Central Bank
Ecuador: Central Bank of Ecuador
Egypt: Central Bank of Egypt
El Salvador: Central Reserve Bank of El Salvador
Equatorial Guinea: Bank of Central African States
Estonia: Bank of Estonia
Ethiopia: National Bank of Ethiopia
European Union: European Central Bank
Fiji: Reserve Bank of Fiji
Finland: Bank of Finland
France: Bank of France
Gabon: Bank of Central African States
The Gambia: Central Bank of The Gambia
Georgia: National Bank of Georgia
Germany: Deutsche Bundesbank
Ghana: Bank of Ghana
Greece: Bank of Greece
Guatemala: Bank of Guatemala
Guinea Bissau: Central Bank of West African States (BCEAO)
Guyana: Bank of Guyana
Haiti: Central Bank of Haiti
Honduras: Central Bank of Honduras
Hong Kong: Hong Kong Monetary Authority
Hungary: Magyar Nemzeti Bank
Iceland: Central Bank of Iceland
India: Reserve Bank of India
Indonesia: Bank Indonesia
Iran: The Central Bank of the Islamic Republic of Iran
Iraq: Central Bank of Iraq
Ireland: Central Bank and Financial Services Authority of Ireland
Israel: Bank of Israel
Italy: Bank of Italy
Jamaica: Bank of Jamaica
Japan: Bank of Japan
Jordan: Central Bank of Jordan
Kazakhstan: National Bank of Kazakhstan
Kenya: Central Bank of Kenya
Korea: Bank of Korea
Kuwait: Central Bank of Kuwait
Kyrgyzstan: National Bank of the Kyrgyz Republic
Latvia: Bank of Latvia
Lebanon: Central Bank of Lebanon
Lesotho: Central Bank of Lesotho
Libya: Central Bank of Libya
Lithuania: Bank of Lithuania
Luxembourg: Central Bank of Luxembourg
Macao: Monetary Authority of Macao
Macedonia: National Bank of the Republic of Macedonia
Madagascar: Central Bank of Madagascar
Malawi: Reserve Bank of Malawi
Malaysia: Central Bank of Malaysia
Mali: Central Bank of West African States (BCEAO)
Malta: Central Bank of Malta
Mauritius: Bank of Mauritius
Mexico: Bank of Mexico
Moldova: National Bank of Moldova
Mongolia: Bank of Mongolia
Montenegro: Central Bank of Montenegro
Morocco: Bank of Morocco
Mozambique: Bank of Mozambique
Namibia: Bank of Namibia
Nepal: Central Bank of Nepal
Netherlands: Netherlands Bank
Netherlands Antilles: Bank of the Netherlands Antilles
New Zealand: Reserve Bank of New Zealand
Nicaragua: Central Bank of Nicaragua
Niger: Central Bank of West African States (BCEAO)
Nigeria: Central Bank of Nigeria
Norway: Central Bank of Norway
Oman: Central Bank of Oman
Pakistan: State Bank of Pakistan
Papua New Guinea: Bank of Papua New Guinea
Paraguay: Central Bank of Paraguay
Peru: Central Reserve Bank of Peru
Philippines: Bangko Sentral ng Pilipinas
Poland: National Bank of Poland
Portugal: Bank of Portugal
Qatar: Qatar Central Bank
Romania: National Bank of Romania
Russia: Central Bank of Russia
Rwanda: National Bank of Rwanda
San Marino: Central Bank of the Republic of San Marino
Samoa: Central Bank of Samoa
Saudi Arabia: Saudi Arabian Monetary Agency
Senegal: Central Bank of West African States (BCEAO)
Serbia: National Bank of Serbia
Seychelles: Central Bank of Seychelles
Sierra Leone: Bank of Sierra Leone
Singapore: Monetary Authority of Singapore
Slovakia: National Bank of Slovakia
Slovenia: Bank of Slovenia
Solomon Islands: Central Bank of Solomon Islands
South Africa: South African Reserve Bank
Spain: Bank of Spain
Sri Lanka: Central Bank of Sri Lanka
Sudan: Bank of Sudan
Surinam: Central Bank of Suriname
Swaziland: The Central Bank of Swaziland
Sweden: Sveriges Riksbank
Switzerland: Swiss National Bank
Tajikistan: National Bank of Tajikistan
Tanzania: Bank of Tanzania
Thailand: Bank of Thailand
Togo: Central Bank of West African States (BCEAO)
Tonga: National Reserve Bank of Tonga
Trinidad and Tobago: Central Bank of Trinidad and Tobago
Tunisia: Central Bank of Tunisia
Turkey: Central Bank of the Republic of Turkey
Uganda: Bank of Uganda
Ukraine: National Bank of Ukraine
United Arab Emirates: Central Bank of United Arab Emirates
United Kingdom: Bank of England
United States: The Dirty Nasty Stinky Fed, Federal Reserve Bank of New York
Uruguay: Central Bank of Uruguay
Vanuatu: Reserve Bank of Vanuatu
Venezuela: Central Bank of Venezuela
Vietnam: The State Bank of Vietnam
Yemen: Central Bank of Yemen
Zambia: Bank of Zambia
Zimbabwe: Reserve Bank of Zimbabwe

http://www.911weknow.com/the-rabbit-hole/334-central-banking-swindlers-list

When you dine with the devil . . . . . . know its poison your being served.

https://korreport.com/wp-content/uploads/2011/06/obama-africax-inset-community.jpg

N18,000 - minus tax = ?

So the whole N18,000 minimum wage saga was just a gimmick,

As the govt are the ones paying the salary its even easier to deduct the tax.

How much tax do politicians pay currently? Are the exempt from paying taxes?

Wicked people -

Nigeria has not learnt anything from its history therefore we are bound to make even bigger mistakes:


https://specials-images.forbes.com/imageserve/00OngMq8972Y9/620x434.jpg?fit=scale&background=000000

Nigeria has not failed, says Obasanjo

. . . . .and my y'nash is not black.

1025:
why are we wasting our time claiming one nigeria when we all know this jungle(nigeria) is not working? pls joe divide this poo we call a country. where else in this world is govt spending 70% of her income in salaries?

Sleeping Nigerians - I command you to wake up!

WTF

https://www.africareview.com/image/view/-/1195466/highRes/276242/-/maxw/600/-/127e22k/-/Ngozi.jpg

Sleeping Nigerians - I command you to wake up!

WTF

https://www.africareview.com/image/view/-/1195466/highRes/276242/-/maxw/600/-/127e22k/-/Ngozi.jpg

Still enslaved . . . . .

Courtesy of our politicians.


https://www.thenewblackmagazine.com/Photofiles/clinton-iweala.jpg

One day it will dawn on us whats happening . . . .

[img]http://www2.pictures.zimbio.com/gi/G+20+Finance+Ministers+Central+Bank+Governors+uLqTd-5uWCMm.jpg[/img]

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https://www.youtube.com/watch?v=ELEwjVRxxGE&feature=feedlik[/flash]


https://www.youtube.com/watch?v=ELEwjVRxxGE&feature=feedlik

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https://www.youtube.com/watch?v=ELEwjVRxxGE&feature=feedlik

werepeLeri:
^^^

Try reason before you talk sometimes. It makes you a wise man.

So Lagos State where the government is making everyone pay tax- what will you call the government?

UK where almost half of what you earn goes into tax, what will you call those government?

Abeg- all these insult on government officers at every slight opportunity is becoming extremely boring.

When you sit down and think before you talk, then you will gradually become a wise man.

Your either insane or a politician.

Either way your head needs examining.

Retarded slowpoke

werepeLeri:
See how someone talks. Go and sit down. You make no sense.

What will u tell Fashola who is collecting tax from Lagosians. Tax is not a punishment- it is a civic duty.

Be objective for once.

Tax ia a civic duty?

Spoken like the true illiterate that you are.

From James Emejo in Abuja

•Okonjo-Iweala: It’s now “life and death" issue

President Goodluck Jonathan   yesterday said  an effective and efficient tax system was critical to achieving his administration's national transformation agenda.

He said taxation would provide the much needed funds for good governance and bring sustainable growth to the current and future generations.

To this end, the president assured Nigerians that the Personal Income Tax (Amendment) Bill, 2011 currently before him, would be given expedited action so that it could become operational.

Speaking in Abuja at the opening of the 2nd International Tax Conference and 50th anniversary of the Joint Tax Board (JTB) with the theme: “Taxation and Good Governance - A recipe for Sustainable Growth”, Jonathan, however, stressed the need to mitigate the impact of personal income tax on workers with regards to the enhanced national minimum wage "to ensure the maximum benefit of the improved wages accrues to our workers."

Represented by the Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, Jonathan said it was important to ensure that laws were implemented in a complementary manner that would empower states to pay the wages to workers while workers pay what was due to government as tax .

Assuring the JTB of government's support in achieving its major objectives, he tasked the board to ensure harmony and uniformity in the application of the tax laws in the states to aid the proper implementation of the Personal Income Tax (Amendment) Bill, 2011 once it was signed into law.

He said: "Each sector of the Nigerian economy will be given equal opportunity and support to contribute its own quota to national development, especially taxation at this stage of our economic development, when we are focused on developing sustainable sources of revenue and moving our economy away from over-dependence on oil revenues."

Meanwhile, the Minister of Finance, in her own capacity, said transforming the nation's economy had become a matter of "real life and death" for the current administration.

She said: "We’ve got to change the structure of the economy; we’ve got to change and improve the base for our taxation because non-oil taxation in this country is one of the lowest in terms of percentage of GDP in the world."

The minister also said Nigeria could not afford to continue to rely "too much" on the outside world because of the immense uncertainties on the global scene.
She said the country must search for better options on how to manage resources to improve her development process.

Okonjo-Iweala said at present, there was no panacea to the current debt crisis in Europe, adding that Nigeria's dependence on oil export as her sole source of revenue would make it vulnerable in view of the declining price of oil occasioned by the debt crisis.


She said: "The global environment is really changing; it is very uncertain.  As I finished from the meeting of the World Bank and International Monetary Fund last week; and with all the finance ministers all over the world - I have never seen so much uncertainty in the room as we met together. For once, I noticed that nobody really has the answer.

"Finance ministers from Europe-where Europe is now in very big trouble in terms of the sovereign debt crisis in Greece and other countries didn’t seem to have the answer on how this is going to be finally resolved.

The US, the same situation, and Japan, we look at the emerging countries like China and India-they are doing much better but even then there are vulnerability that need to be looked into."

According to the Minister: "It means that for a country like Nigeria, we are particularly vulnerable because we have one export: the demand of which depends on what happens in the outside world.

And with that kind of uncertainty, that means we are also vulnerable in terms of lower demand outside-and we are seeing the impact of that in the declining price of oil."


Consequently, she said the country must pay particular attention to diversifying the economy as well as tax base. The minister further tasked the JTB to intensify efforts to dialogue and educate the public on taxation.

This, she noted, would enable the citizens to demand accountability in the use of  public resource from their leaders.

"We need the public to be more demanding," she said.

Chairman, Joint Tax Board, Ifueko Omoigui Okauru noted that multiple taxation remained an issue in all tiers of government.

She said the current decline in tax revenue since the late 60s posed an issue in building the nation's competitiveness and the capacity to compete with the rest of the world adding that it has become a challenge to create jobs and make products as cost competitive as possible.

http://www.thisdaylive.com/articles/taxation-critical-to-national-transformation-says-fg/99973/

Northerners taking the initiative. . . . . . 

Boko Haram may soon enter the equation.

Abuja — Members of the National Assembly from the north are mobilizing to stop moves by Federal Government to remove fuel subsidy from January 2012.

The lawmakers were said to have met in Abuja to adopt a common ground on how to approach the battle.

The lawmakers expressed dissatisfaction with government decision to remove subsidy, saying "we will never support any step to be taken by the federal government to make things difficult for the Nigerian people".

Daily Champion recalled that Nigeria Labour Congress besieged National Assembly to register their displeasure over the proposed deregulation of the downstream. Labour leaders vowed to embark on strike if the government try to remove subsidy from oil sector.

Speaking to our correspondent, Senator Ali Ndume stated categorically that he was is against the removal of subsidy without a palliative plan, adding that there is nothing on ground to show that the price of fuel would not go up.

In his words "I'm already lobbying my colleagues in the senate to make sure that the bill does not sail through, the timing is very wrong and also an anti party, though the issue has nothing to do with political party, but that of the government, the subsidy matter is sabotage by some people who the government knows so well.

However, the Chairman, Senate Committee on downstream, Magnus Abbe said that Nigeria should look beyond the issue of subsidy because there are lot of things that needed to be looked into rather than the issue of subsidy.

He argued that the nation stands to gain from the removal of subsidy contrary to the current campaign that it would further impoverish the people.

Speaking on the issue Senator Sulaiman Adokwe said: "In the Sixth Senate, I served on the Downstream Petroleum Committee and I had a position which was that the major issues were how to manage the subsidy. There were speculations here and there that the subsidy was getting into the wrong hands; it wasn't getting to the real people who actually needed the subsidy that were being subsidized.

"We tried to ask so many questions, to find out why and what was happening. My biggest grouse then was that NNPC account is shrouded in so much secrecy and nobody knew what was going on there. It's a fundamental error that a major organization like that, which is responsible for our wealth, its activities are shrouded in secrecy, its budget is not subjected to scrutiny by the National Assembly.

"The military made the NNPC Act in such a way that they are answerable only to Mr President. It's budget needs to be properly scrutinized so that we would know how they are managing the subsidy.

"In spite of the fact that we are paying trillions of naira for oil subsidy, the pump price is still very high in the north; particularly in the north east and the North west. There's still continued shortage of petroleum products in that part of the country and we wonder really who is being subsidized.

"We really need to know how the subsidy is being managed. If we know how it's being managed, probably there may be no need to take it off, If we know how it's being managed, probably there may be need to take it off. So, it's not a straightforward answer I can give. I cannot give a straightforward answer until I get the facts concerning the subsidy."

"After all for the past 10 years, only about 10 percent of the budget has been implemented, in as much as i want to agree with deregulation, there has to be a process, government should have addressed the Petroleum I Bill first before talking about subsidy, government has not been serious about building refineries".

Meanwhile Governor Rotimi Amaechi of Rivers State has said Governors of the 36 States of the federation endorsed federal government 's plans to remove subsidy on fuel,saying the measure is in the interest of the nation

He called on government to engage those against the move in a dialogue .The Governor was accompanied at the briefing by Peter Obi of Anambra and deputy Chairman of Governors' Forum, Abdullaziz Yari of Zamfara, Segun Mimiko of Ondo, Murtala Nyako of Adamawa, Lyel Imoke of Cross River as well as Dr. Shamsudeen Usman, Minister of National Planning.

Governor Ameachi stated this while briefing State House Journalists at the end of the National Economic Council (NEC), chaired by Vice President Namadi Sambo at the Presidential Villa.

He said "All of us have just finished meeting of National Economic Council and several decisions were reached. Various views were canvassed and decisions reached. One of the most important issues that we canvassed and took decision on was that of fuel subsidy removal and governors supported the federal government's move to remove subsidy because we believe it is to the interest of this country" .

He added "We will save money for the development of the economy and at the end of the day, we will provide opportunity for the greater number of people"

Other issues discussed according to Governor Ameachi who is also chairman of Governors' Forum include education and agriculture, explaining that the need to develop agriculture at the state level was looked at.

The meeting was also used to discuss the issue of ETF and UBEC and how to get them to support education in the different states.

He said "We also accepted the need for the setting up of the planning and research and statistics department aimed at capacity building is included in that development. And we are to work with the federal government and the national planning commission in that regard so that we will have our people trained and their abilities improved upon"

The Governors also discussed the sovereign wealth fund, although decision on the matter was deferred

Ameachi who also stated that they will continue to dialogue with the federal government on the issue, said they are satisfied with what is going on so far.

The Governor said "It is a conversation and we don't want to escalate. Let's look at all the issues and when all the issues are on the table and the governors are convinced, we will take a decision. But as of whether a decision has been reached, no decision has been made".

Speaking on the opposition to the removal of subsidy, he disclosed that government will not shy away from engaging in dialogue with those opposing the plans.

"I think that at the end of the day, I don't think the federal government or the governors are shying away from the conversation that will emanate from it",he said

Adding "This policy, at the end of the day, I don't think the governors or the FG can be insensitive to the people that have elected us and put us in office"

He maintained "Don't forget that this is a civilian government, it is a democratic government that we seek for votes four years after. We must learn to take very difficult decisions. That is what we were elected to do and that decision is to improve on the welfare of our people"

He stated that whichever discussion that will escalate the conversation, the Governors are ready for discussion.

"We are open to discussions and we are open to the fact that there are social safety nets that the federal government is trying to put in place to cushion the effect. But beyond the fact that the FG is putting up safety nets to cushion the effect, there is also the argument that only a few Nigerians are just gathering money and we are hearing of subsidy" he said

He stressed "outside the few state capitals in Nigeria, which other place do you have this subsidy operating.

"I hear some states in the South East are selling fuel for as high as over N100 per litre. Fuel is being smuggled out of the country and the people of Nigeria are suffering and then some elites then pick up the conversation that we are insensitive to the people. Do you think that politicians who will go four years after with this new electoral process will become insensitive to Nigerians?

He disclosed that federal government and the governor's forum are ready to engage them in that discussion.

He contended "Any day and anywhere anybody comes up with that, because there are so many benefits that will accrue to the people. Nigerians are dying of hunger on the streets when we can liberalise or deregulate the oil industry and create more employment opportunities and at the end"

According to the Governor "Most people do not know that from crude oil, you can get a number other products that can emanate from there and that is part of other aspects of economic development and nobody has addressed that. When you talk about sensitivity, you must talk realise that this is informing our decision.

On the issue UBEC, he disclosed that a new law was in the offering that will make it possible for Governors to access the fund.

"I think we must comply with the law first and foremost and secondly is the fact that the committee said that there was need to set up processes that will assist the states access this fund on quarterly basis. By which time we would drawn up the plan for social development and then looking at the possibility of amending the law to allow us access the fund" he said

http://allafrica.com/stories/201110070258.html

Punishment for wanting a minimum wage of N18,000?

When will Nigerians wake up.

See the way these rogue politicians dictate your lives.

Numerous hardships are coming the way of the man in the street.

Its not enough that they sqander the natural resources and share the money amongst themselves

Now the are going for the man in the streets income.

GEJ/Ngozi/Sanusi/Worldbank/IMF etc - Thanks (Devils)

President Goodluck Jonathan has assured of his readiness to assent into law the new income tax bill in order to make it operational soon.

Jonathan made this known at the 2nd International Tax Conference and 50th anniversary of the Joint Tax Board (JTB), held in Abuja, yesterday.

The new income tax (amendment) bill was passed by both chambers of the National Assembly in May, this year and transmitted to Mr. President for assent in June.

The bill seeks to resolve issues that affect tax administration in the country.

It will also introduce a more equitable system of personal income tax administration,improve and simplify tax compliance for all taxpayers amongst others.

Jonathan, who was represented by the Minister of Finance, Dr. Ngozi Okonjo-Iweala, said the signing of the bill would demonstrate his administrations commitment at strengthening the regulatory framework of tax administration in the country.

In his words, " the personal income tax (amendment) bill, 2011 is currently before me for assent into law and I want to assure the JTB that the bill will receive expedited action so that it can become operational shortly".

On the challenges of tax administration in the country, he said, " I am not unaware of the various challenges, which are currently being faced especially in the states, with respect to the administration of personal income tax. The bill when passed into law will impact on the revenue collection at the state and federal level and also its impact on the wages of our workers".

He noted that the bill has become more significant owing to the recent introduction of the enhanced national minimum wage and the need to ensure that the maximum benefit of improved wages accrues to the workers.

Jonathan urged the board to ensure continuous deliberations on issues that affect the nation's tax system, and its ability to be a tool for good governance and sustainable growth.

While commending the board for organising the event, he stated that with the theme 'Taxation and Good Governance: A Recipe For Sustainable Growth', the board was concious of the role, which it is expected to play in national development and the expectations of government in this regard.

Earlier, the chairman of the board, Mrs. Ifueko Omoigui-Okauru, maintained that the bill will greatly enable the three tiers of government to enhance the ability of tax authorities to effectively play their roles of raising revenue for government and properly utilising these revenues for developmental purposes.

She noted that the establishment of the JTB was informed by the need to put together the income tax.

Insisting on the need to stop multiple taxation in the country, she said: "multiple taxation remains an issue. It has grown more than it was in 1961 when the JTB was established. Multiple taxation has remained an issue in building our competitiveness and ability to utilise our revenue and create jobs just like other nations do", she said.

Okauru said that despite the challenges facing the board, it calls for celebration that the body has existed for fifty unbroken years.

Meanwhile, co-ordinating minister for the economy of the country and finance minister, Dr Ngozi Okonjo-Iweala, has said that the dynamic nature of the global economy as well as the uncertainties in the international oil market, has made the country's economy more vulnerable.

Okonjo-Iweala made this known in Abuja yesterday, during the ongoing 2nd international tax conference of the Joint Tax Board.

The minister pointed out that the current crisis rocking the United States and Europe is a pointer to the fact that no country was insulated from the economic crisis.

She noted that the significant drop in international oil prices was a pointer to the fact that the country still needed to diversify its revenue from oil.

According to her, "like you all know, events in the United States and Europe have direct effect on

"In US and Europe, they are speaking about the imminence of another recession. We are witnesses to the Greek debt problem and its effect on Europe. Japan, China and other developing economies are not in good shape.

"A country Like Nigeria is particularly vulnerable because our economy is dependent on one product: oil.

"We are vulnerable. We have to diversify our economy. For us, it has become a real life and death situation.

Continuing, she said, "We have to grow our taxes. Our non oil taxes is one of the

lowest in the world in terms of percentage To Gross Domestic Product.

"We all have to think of how we harness our non oil taxes to obtain more revenue for sustainable funding of our economy.

"So as you deliberate, think of the larger global context in which this country is operating and what that means for us as a country, our states and local governments

http://allafrica.com/stories/201110070331.html

By the time this woman has finished with us ehhh . . . . . . .

Nigeria's economy like all other economies of the world is vulnerable to crisis and nobody seems to have answer to the problems, Minister of Finance Dr. Ngozi Okonjo-Iweala has said.

She said the nation's economy is particularly vulnerable because it is based on a single commodity (crude oil) through which it earns foreign exchange.

Okonjo-Iweala, who is also the Coordinating Minister for the Economy, spoke yesterday in Abuja at the opening of an International Tax Conference tagged "Taxation and Good Governance - A Recipe for Sustainable Growth," organized by the Joint Tax Board (JTB).

Referring to the crisis in Europe, America and Asia, the Minister said Nigeria must change its economic structure and reform its tax base for it to develop because it cannot continue to depend on outside world.


"As I came back from the IMF/World Bank meeting last week, all the Finance Ministers recognized that global environment is very uncertain and I noticed that nobody has the answer. What does these mean?" the Minister asked.

"It means that country like Nigeria that have one export and one commodity, the demand which depends on what happens on the outside world and with that kind of uncertainty, it means that we are also vulnerable in terms of lower demands and we are seeing the impact of that with the declining price of oil," she said.

She said that the need to diversify the economy is not an academic issue but a concrete one.

"For us it is becoming the real life and death issues as a nation and we need a change in the structure of the economy, improve the base of taxation because non-oil taxation in this country is one of the lowest in the world," the Minister said.

As a way of ensuring more money to the government, Federal Government announced on Tuesday the removal of oil subsidy, saying it cannot sustain about N1.3 trillion it pays on subsidy annually, this has attracted condemnation from stakeholders and the organized labour.

On Wednesday, the governor of the Central Bank of Nigeria (CBN) Sanusi Lamido Sanusi said they may allow the naira to depreciate if oil prices and foreign reserves continue to fall.

Nigeria's foreign reserves are now down to $31.7 billion as against $33 billion a month ago.

The CBN has been drawing from the reserves to protect the naira, a condition that International Monetary Fund (IMF), had considered inappropriate

http://allafrica.com/stories/201110070450.html

Double sentencing - 

Is this not against their human rights - to be caged in the UK rather than Naija?

Nigeria's lower house of parliament has approved a deal in which offenders convicted in Britain will serve out their jail terms in their home country.

The agreement still requires approval from the Senate, where it is likely to pass soon.

About 600 Nigerian inmates are being held in British jails, but it is not clear how many will face deportation.

The decision follows a visit by British Prime Minister David Cameron to Nigeria in July.

The UK Ministry of Justice said foreigners who "abuse our hospitality" and have no legal right to stay should be deported "at the earliest opportunity".

"Where possible those foreign nationals who receive a prison sentence should serve their sentences in their own countries," the ministry said.

The ministry said the British government had a number of transfer agreements, but most required the consent of the prisoner.

It was now working on transfer agreements that did not require that consent, it said.

Nigerian prisons are already overcrowded but Nigerian MP Jerry Manwe said that they could accommodate the influx of new inmates.

http://www.bbc.co.uk/news/world-africa-15221954

Last year when he commtted how many zillions to indepence celebrations people were complaining,

Now he says no celebrations and people are again complaining.

GEJ - dont mind them,

The money saved on these ye-ye celebrations is best diverted to your offshore account to accrue interest before being frozen.

Stash the cash and ignore these fools on NL ,

PS:

- You suspended the national football team,
- You suspended indepencdence day celebrations.
- How about you suspend looting - at least temporarily,

Cheers,

via text message,

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https://www.youtube.com/watch?v=cG_TKAJyV6k[/flash]

Sanusi + Boko = -N1.4 trn lost in 9 months.