₦airaland Forum

2011?

Whatever she is - She's no Turai (aka the Devil)

Protectionism?

Many countries around the world engage in such practises - covertly.

However this goes against the principles or free trade and the global economy.

It would be better for Nigeria to start playing the currency wars many countries are now embroiled in - covertly.

How about Nigeria threatening to sell its oil in Euro's rather than dollars?

MKO Junoir?

Or another silly person.

There will be some short term pains but long term gains for the people of Nigeria.

Oil has been a curse and distraction to our development.

Cant wait until the fields are dry,

Good governance will follow.

Who's profiting from all this?

Its becoming obvious.

African leaders will never learn - A fool and their money are soon parted!

The Egyptian constitution is worth less than toilet paper,

Mubarak just wiped his arrse with it,

Not even IBB could dribble like this,

He did some serious dribbling around the peoples demands,

The guy's too much,
Stubborn as a big 'stool'

Commercialization of religion gone mad.

Anyway i have no problem if it renders our crocked priests 'technologically unemployed'

Seems the people of Egypt have realised - The alternative to Mubarak may be worse.
His support has been displayed today!

Saudi, Libya, Algeria etc
Better start ordering military hardware from America now!

Are these events in the middle east really random events?
Who's pulling the strings behind the scenes?
America alawys profits when other countries are at war!

Israel / USA support Mubarak simply because he is seen as the lesser of the two evils,

It looks like he will prevail,

If there is a split in views between the older generation (Muslim Brotherhood Sympathisers) and younger generation (More westernised) then this will play into Mubaraks hands.

He's playing a game of chess and appears not to be reacting - Rather he is responding extremely shrewdly like a master of the art of war.

He is still very much in control - but if and when he is deposed hell may break loose. Possibly even civil war.

They may get change - But not the change they hoped for - And it will come at a price.

Mubarak is ex military (inhumane) so they should expect a lot of blood to flow.

The only recognised opposition group are the Muslim Brotherhood - who have had experience of government.

Sharia law beckons - Unless a moderate strongman emerges.

Some how I dont think those protesters who were out there in sunglasses and jeans are going to appreciate what they end up with.

Egyptians - Be careful for what you wish (protest) for, You might just get it!

The Girl is a disgrace, See the huge 'Love Machine' her mother found on her.

The most likely cause will be because of South Korea becoming to bold and provoking the North into action.

Look at the way they are behaving - American puppets.

The bottom line is the government can do what they want and you are all powerless to stop it!

Politicians are not there to serve the people - they are there to serve themselves.

If he take $5billion in cash - Nigeria will pay back in total $500billion in oil.

The curse of Nigeria is and has always been the so called politicians alledgedly representing our interests.

Ancient Egypt = Africa Without Slavery And Colonization.

From Onwuka Nzeshi in Abuja, 06.09.2010

http://www.thisdayonline.com/nview.php?id=175327

The World Bank yesterday blamed the increasing debt burden of most poor countries including Nigeria on poor debt management traditions. The apex global financial institution said developing countries could benefit maximally from the loans they obtain from both local and foreign lending institutions if only they put the funds to good use and adhere strictly to the terms and conditions upon which the loans were secured.


Country Director of the World Bank in Nigeria, Mr. Onno Ruhl disclosed this at the close of the National Workshop on the Processes and Procedures for Obtaining Loans by Federal and State Governments organised by the House of Representatives Ad Hoc Committee on Investigation into Foreign and local Loans.
In a paper titled: “Debt Management in Nigeria : Perspective of Lenders and International Development Partners”, Ruhl said many developing countries lack the requisite debt management capabilities that could have made the difference in their development process before and after they obtained loans.


However, Chairman, House of Representatives Committee on Business and Rules, Honourable Ita Enang has observed that most of the foreign loans obtained by Nigeria were approved in error. According to Enang, most of the foreign loans approved by the National Assembly could have been avoided if the lawmakers had taken the pains to srutinise the terms and conditions of such loans.


Enang who gave a legislative perspective on the issue of loans cited Section 21 of the Fiscal Responsibility Act to buttress his point, said part of the reasons why the nation’s economy is relatively backward is because most of these loans from the World Bank and other Financial Institutions, were mere poverty traps.


The lawmaker said that the National Assembly was also to blame partly for the problem of Nigeria’s indebtedness to financial institutions in and outside the Country, as none of the two arms of the National Assembly has ever been thorough in considering these proposals before approval.


“For example, if the National Assembly had read through the document of the latest proposal brought to us by the Executive to approve $915million loan from World Bank, we couldn’t have approved it. The Fiscal Responsibility Act, says the National Assembly should examine and approve the terms and conditions, but we don’t examine, before we approve, we just approve and it goes,” he said.

“50 per cent of these loans are marketed by people at the World Bank; they market these loans and take their percentages, sometime 1.5%, and so on. You hire their consultants and you pay them from the same loan you have taken and at the end of the day, you still pay them”, he said.

The lawmaker said what the Country needed was not loans for Human Capital Development but loans for Infrastructure Development, “reasons, he said “being that Human Capital Development loans, go for hotel bills, feeding and resource persons in the United States, Europe and other parts of the world”, and at the end of the day, you still pay the loan.


Director General, Debt Management Office, Dr. Abraham Nwankwo said that the way out of the problem of frivolous borrowing by Federal, State and Local Governments would be for the National Assembly to amend the Debt Management Office (DMO) and Fiscal Responsibility Act to restrict the amount of loans that each tier of government could take.
“Every country has a set medium performance level and the debt ratio should not exceed 30 percent of GDP in the next 5 years , and I believe that the National Assembly will set a threshold on loans these tiers of government can take” Nwankwo said.

Israeli Propaganda,

There is no justification for the evil being committed by Israel against the Palestinians.

Nigerian Royalty has been devalued.

A Nigerian King/Emir/Chief is no greater than a western street beggar.

And who is liable for all this debt - NIGERIANS?

Lets look forward to high taxation when the time to repay comes.

We all know there will be nothing tangible for these huge debts we incur - Apart from politicians bank accounts!

The Government (which frequently changes) is racking up these debts at the expense of the average Nigerian.

And how silly it was to employ an agent of 'Goldman Sachs (Notorius Financial Hitmen) to manange the finances of the country. Jonathan is not 'Sharp' at all.

This is just the start - Nigerians are secretly being sold out to the west!

Expect IMF intervention and sanctions soon as well as the consfication of all the oil and gas fields!

The government of the state needs to be audited from the start of its tenure.

Where is the EFCC?

Argue to much in comparison to who?

Crude oil's price falls - Whilst the price of the refined products from crude oil are on the rise (e.g Petrol).

Oh how foolish we have been.

We are unable to refine and sell the refined products to the international market.

Has the price of petrol, kerosene, oil etc dropped by the same percentage as crude oil?

Nigeria and other crude oil producers are being 'played' by international money men.

The major players in the industry are enjoying a windfall - at Nigeria's expence.

Soon the talk of Public Sector worker cuts will be announced and blamed on the price of crude oil.

OPEC dictates prices,

OPEC dictates production quota's,

Nigeria has little or no say in the matter.