₦airaland Forum

greateros:
Naira badly depreciating!
Subsidy to be removed on fuel without plans for sustainable alternative means of transportation
Terrorism on the increase
Unemployment on the increase
Banks dying in the name of capitalization
Businesses closing down due to high cost of operation and very low profit margin



Damn! Heavy dark cloud ahead for Nigerians - Obviously this good luck is not rubbing off on us

This Fresh Air is quickly turning to VERY HOT DESERT WIND!

Okonja were art thou so-called magic wand??

Well summarized,

Na oyibo juju she dey use . . . . .

We are being liquidated - World Bank Style

[img]http://mairedubhtx.files./2011/09/revolution_with_fist.jpeg[/img]

. . . . . Coming soon - 

Beaf:
Unfortunately, such things come with development. Any country thats serious about tackling crime in the information age would need to develop capacities to monitor phone networks and the internet. Its the only way to keep a step ahead of modern gangs, dissidents and subversives.

Beaf,

Respectfully I ask you to pull your tongue out of this 'Govt's Ar.ssse'.

Your biased reasoning is starting to sound a little pathetic.

People around the world are crying out for freedom - not for their corrupt govts to stiffle freedom and intrude even further on their lives.

Problem, Reaction, Solution,

Hahahahaha

Listen,


[flash=400,400]
https://www.youtube.com/watch?v=9RbqLJ1C_VU&feature=related[/flash]

arsenefc:
Hows GEJ the center of attention

There are two people in the center and rightfully, OBJ, a Yoruba man, is the center of attention

Get away,

Geometrically GEJ is centre of attention.

(Also politically)

emiye:
kill  8 of them; all at once?   Abeg o.

Another "Hotel Rwanda" in Nigeria might just start

Your right,

Where is a 'Sniper' when you need one. . . . .

With a minimum of 6 bullets.

Beaf:
The pic says:

[list]
[li]There are 5 Northern ex-Heads of State (4 of whom were coup plotters)[/li]
[li]There are 2 Southern ex-leaders (1 was a coup plotter and the other lasted a couple of months)[/li]
[li]The President is dressed in SS style, because he is the first from the SS which provides the countries wealth and has suffered numerous episodes of bloodshed to the extent that Hilary Clinton once described it as a place under occupation from the rest of Nigeria[/li]
[/list]

On the frivolous side :
[list]
[li]Somebody should have told the man in the background to buzz off, since he has never sat on the highest seat[/li]
[li]Gowon and Shonekan look exceedingly happy[/li]
[li]Buhari is the tallest, followed by Shonekan and GEJ[/li]
[li]IBB looks very very frightened of Obj [/li]
[li]GEJ and Abubakar have the largest feet (babes, please analyse this) [/li]
[/list]

LOL,

See how OBJ has his eye on IBB 24/7 -  

Watching him like a hawk -  

Its like - 'the evil genius' vs 'the evil genius' -

And rightfully, GEJ is the centre of attention - But he needs to invest in a new hat!

Where is a suicide bomber when you need one?

An obvious consequence of Sharia law . . . . .

Why cant those states be detached from Nigeria and merged with Niger?

They make me feel ashamed to claim Nigeria.

Goodluck,

Where did all this 'Badluck' come from?

By Goddy Egene

The value of equities listed on the Nigerian Stock Exchange (NSE) plunged by N1.417 trillion in the nine months ended September 30, 2011; indicating a dip of 18 per cent from N7.914 trillion to N6.497 trillion.

Similarly, the NSE All-Share Index fell by 18 per cent from 24,770.52 at the beginning of the year to close at 20,373.00 last Friday.

The value of equities, had this time last year, recorded a growth of N659 billion or 13 per cent, while the index had appreciated by 11 per cent within the nine months period.

However, waned investors’ confidence, attractive yield in fixed income securities, and general investor apathy on the side of retail investors have so far slow the expected recovery in the market this year.

The market had opened the year on a positive note closing the month of January with a growth of about 8.3 per cent. But efforts to attract investors back to the market have been thwarted by uncertainty over the recapitalisation of the rescued banks and insecurity engendered by the spate of bombings in some part of the country.

Also, the sovereign debt crisis in Europe and the United States, which sparked massive sell-offs by foreign investors, contributed to the dismal nine month performance the Nigerian equities market witnessed.

Besides, the delisting of leading bottling firm, Nigerian Bottling Company Plc and Nampak Plc reduced the value of the listed equities.

Market analysts said that but for the price gains witnessed in the last three days of last week, following shareholders’ endorsement of recapitalisation plans of the five rescued banks, the dip in value would have been worse.

Majority of the stocks are trading below their year’s opening value with many in the insurance sub-sector selling at their par value. However, analysts at Afrinvest West Africa Limited said that the market valuation of many listed stocks implied deep discounts from fundamental valuation perspective.

According to them the depth of the under-valuation is even more pronounced for Nigerian banks, whose valuation multiples have traded down significantly, from 14.8x and 1.4x for price earnings (P/E) ratio and price to book (P/B) value ratios between May 31 and September 28, 2011 to 8.8x and 0.9x respectively over the same horizon.

Afrinvest, therefore, called on domestic investors to take advantage of the low valuations. “We see this as an incentive for investors who stand to gain from the effects of a potential rally on portfolio performance. The upsurge may deliver stock returns in excess of fixed income and money market instruments and erode previous losses recorded by equity market instruments,” they said

http://www.thisdaylive.com/articles/nigerian-equities-lose-n1-4trn-in-9-months/99832/

Go and ask the Boko Haramist.

There exists a 'false religion' in Nigeria that does not know the meaning if the word harmony.

To them its all about jihad and the murder of so called infidels.

Also add the fact that the US/West seemed to have gained control of Libyan oil fields.

Therefore demand for our oil is bound to drop once they up production levels in Libya.

There is no more 'Ghaddafi' to do 'Guy Man' with them and drip feed the oil in the most beneficial manner to the country.

I think the powers that be dont want to unleash the electric cars yet even though the technology is there.

Worldwide consumption is falling including the demand for oil.

This should have been forseen and factor into future budgets.

Soludo - Nigeria To Face Harsh Economic Times

The Former Governor of Central Bank of Nigeria (CBN), Prof. Charles Soludo, has warned the managers of the Nigerian economy to prepare for stiff economic times.

Soludo gave the charge during the 14th Annual Conference of the Nigerian Association of Industrial Pharmacists (NAIP) explained that there were grave uncertainties and risks, with threats of another global recession.

He explained that according to the World Bank and the International Monetary Fund (IMF), the world's economy is entering a dangerous phase with a darkening outlook.

"This is only a probability not that it is inevitable but they are only saying that if the world fails to do something now, we will probably end up that way. I just hope that the major industrial countries of the world especially the G20 will hasten up coordinate their resources to make sure that the world does not go into another recession. It will be a terrible thing if the world gets into that again.

According to him, Nigeria is not an island, stressing that if the world goes into recession it would definitely affect oil prices. "If oil prices come down, the economy comes down. It just tells us that we have to be prepared and strategise for alternative responses, should it happen," he stressed.

"We are also in a world in which the old order is fast disintegrating, and there is a rapid structural rebalancing of economic power away from the Euro-American beltway to the Asia-Pacific and emerging markets," he said.

He said the rebalancing of economic power would inevitably entail a rebalancing of geo-political and perhaps even military power.

"I see a world economy in the near future with three dominant reserve currencies (US$, Euro and Chinese Yuan/Renminbi) with all the instabilities it would entail and a world economy with increasing turbulence where only those who are constantly ahead of the curve will continue to prosper," he added.

He noted that the global pharmaceutical industry is an oligopolistic $900 billion market, consolidated mainly in the US, Europe and with the Asia-Pacific as the new frontiers and dominated by 15 global conglomerates.

He pointed out that Nigeria has neither a comparative nor a competitive advantage in pharmaceuticals, saying that to deliberately create a competitive advantage for the industry would require serious strategising and efforts. He stated that on cost considerations, Nigerian firms cannot compete

In his words, "The risk-adjusted rate of return on investment in the industry is comparatively very low. It is not surprising that the global majors in the industry are not pouring in capital."

He said the pharmaceutical sector estimated at about $1, which is less than 0.5 per cent of the country's Gross Domestic Product (GDP), represents the size of a medium-sized pharmaceutical company abroad and said that the share of Nigeria's pharmaceutical industry in the global industry was basically zero.

"Local manufacturers have been consistently losing market shares in the local market, let alone being competitive in the international market. I understand that to date, none of the pharmaceutical companies in Nigeria is WHO-certified," he said.

He said the fate of the pharmaceutical industry was tied to the Nigeria paradox: a rich country with poor firms and poor people. He added that the global economy was decoupling and recoupling in a manner no one foresaw a decade ago, nor does anyone know exactly what the future portends.

"Two things are however certain: only the rugged and dynamically self-regenerating economies will continue to emerge winners and the future belongs to societies with cutting edge labour skills and technology. Nigeria has all the potentials to be great, but its self-inflicted chains hold it down," he said.

"If you adjust for the outsourced production to foreign firms, the 100 or so largely small and fragmented companies in the industry account for about 20 per cent of domestic drug consumption. It is a struggling industry," he added.

He said Nigeria, one of the world's fastest growing populations, evidently has a potential huge domestic demand that can support a vibrant pharmaceutical industry.


"Translating potentials into reality is yet another matter. With pervasive poverty and extreme inequality, only a small percentage of the population can afford quality health care and quality drugs," he said.

Also speaking at the event, the National Chairman, NAIP, Mr. Lolu Ojo, said the association was not satisfied with its current position and had at various fora highlighted the need for the Federal Government to pay attention to the development and growth of the pharmaceutical sector.

"We are determined to continue to press for this attention until our goals are achieved. This conference, with the theme: Improving the pharmaceutical sector as a catalyst for national development is part of the efforts exerted in this direction," he said.

http://allafrica.com/stories/201110041329.html

Is Nigeria's demise being orchestrated?

Nigerian bank Says May Allow Naira To Depreciate -

ABUJA (Reuters) - Nigeria's naira could be allowed to devalue if oil prices and foreign exchange reserves continue to fall and monetary intervention attempts are exhausted, the central bank said on Wednesday.

The Central Bank of Nigeria (CBN) has been pumping U.S. dollars into the market at bi-weekly auctions to help support the local currency but without any sustained success.

CBN Governor Lamido Sanusi said there was no change in the foreign exchange stability stance for now but the bank would not support the naira at all costs.

"Certainly if we do continue to see threats to oil price, if we do continue to see threats to the reserve position and if we think we have exhausted the limits of monetary intervention, we will have to do that and we will have to announce but if there's going to be a depreciation, its something we want to be in control of and we want to be the ones that will announce it," Sanusi said on CNBC Africa television.

"At the moment, the pressure is coming from a number of sources. There are questions about security, there are questions about the expansionary fiscal position for 2012 and of course there are the international issues."

The CBN broke its own target of keeping the naira within 3 percent above or below 150 to the U.S. dollar again on Wednesday, after breaching the band for the first time last week, furthe deepening the naira's decline.

CBN sold $400 million at 155.40 at the bi-weekly auction on Wednesday, short of the $685.37 million demand. The local currency was trading at 162.25 to the dollar in the interbank market, it weakest ever, following Sanusi's comments.

By pumping dollars into the system the CBN is dipping into Nigeria's foreign reserves, which are built up through the sale of its crude oil. Any dip in oil prices due to a slowdown in global economic growth could put pressure on the CBN to stop using oil savings to support the naira.   

http://af.reuters.com/article/investingNews/idAFJOE7940FA20111005?rpc=401&feedType=RSS&feedName=investingNews&rpc=401

Nigeria cbank won't defend naira at all costs

ABUJA (Reuters) - The Central Bank of Nigeria (CBN) has not changed its policy of defending the naira despite failing to prevent the local currency hitting its weakest point ever last week.

"The problem with changing policy is that if the present problem turns out to be temporary it will be a knee jerk reaction and you are stuck," Central Bank Governor Lamido Sanusi said on local television.

Sanusi said the central bank won't defend the naira at all costs.

The CBN uses Nigeria's foreign reserves to support the naira at bi-weekly auctions. Reserves fell to $31.7 billion by end-September, the lowest in 13 weeks.

http://af.reuters.com/article/investingNews/idAFJOE7940F320111005?rpc=401&feedType=RSS&feedName=investingNews&rpc=401

Benin, Oct 05, 2011 (Daily Trust/All Africa Global Media via COMTEX) -- Edo State Governor Adams Oshiomhole yesterday launched the Edo State Traffic Management Agency (EDSTMA) to help reduce the carnage caused by reckless driving in the state.

http://www.menafn.com/qn_news_story.asp?storyid=%7B3b1aaf0d-70da-4eb5-ac86-09f3ca16777c%7D

Good development,

Does it have 'Boko Haramists' face recognition capabilities?

Good news. . . .

The breakup of Nigeria is on schedule.

Role on 2015

[quote author=aloy/emeka link=topic=775013.msg9277367#msg9277367 date=1317766816]No they are not; Lagos govt has the authority to jack up their local taxes and reduce their profits considerably.[/quote]If Lagos govt feel they can do that then let them attempt it.

Once the company becomes unprofitable they exit the state - and maybe relocate to another state with the remaning staff.

But lets not enter into a hypothetical argument.

Airtel has flexed their muscles and have shown they dont give a damn about anyone or anything accept the 'bottom line' aka profits.

Afterall, thats what capitalsim is about.

Lagos Govt - Silly people.

Its a private company - you cant dictate how they operate.

What law have they broken?

In fact, does Nigeria actually have any laws?

Capitalism . . . . we dont understand the game yet.

More bloody 'Potential Kidnappers' to worry about . . . .Ohh well

That's capitalism for you . . . . . . .

Op - Dont worry,

I'm developing a software program that will automate all Airtels services that will also render those Indians unemployed.

In fact, I want to automate the world and render all human labour obsolete but get rich at the same time.

That's capitalism for you. . . . . 

That's capitalism for you. . . .



(Ethics is an obsolete discipline)

False alarm - my mental arithmetic temporarily let me down.

111 -

Take d last two digits of the yr in which u were born & add d age u wl be this yr, & d result wl be 111 for everyone

My own came to 112 - what does this mean?

Am I going to loose my money?

I'm panicking

danjohn:
Dude, we are discussing a hypothesis on how Oga Fashola can effectively become a progressive compassionate dictator.  That is the context of my argument.  Don't call my argument s.hit and don't imply that I am insane.  That hurts my feelings .

On a side note I think that I should have arranged the paragraphs differently.  What the last paragraph was saying is "if this is to ever happen, this is how it could happen".  The paragraph before it offered my opinion on why an arrangement like this will be hard to make successful.  I have changed the arrangement of the paragraphs to improve the flow of my argument.

Name one living 'Compassionate dictator' in the mould Nigeria would want.

I'm intrigued to know the sort of character we Nigerians want to dictate us.

Thanks,

Up until this point I thought you were sane:

Outside of a civil war that brings in a progressive crop of leaders, moments that lead to progressive governments do not present themselves very often.  They usually happen when there is a small window of opportunity.  Given how bloody a civil war will be, a progressive coup d'état may be a more realistic option.  This time it can be made up of an upright Ceremonial Military President (with towering integrity like Idiagbon) with a Civilian Prime Minister like Fashola who forms a government.  The Military can serve as an anti-corruption watchdog and certain rules can be put in place e.g. term limits, succession plan, etc.

Please review the history of Nigeria - As the definition of insanity is doing things the same way but expecting different results.

All that s.hit you posted in the last paragraph has already been tried and failed . . .  . .