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Politics › Re: South-East Leaders Endorse Jonathan For Second Term by taharqa: 2:41pm On Aug 31, 2012

Y do u guys like friviolities? Instead of focusing on d conclusion of d Power Reforms, Passage of PIB, Appointment of Special Judges 4 corruptn cases(dat d CJN has promisd but has not fulfilld), d completn of d Resuscitatn of d railways, the completn of d ongoing remodeling of airports, more repairs of d bad roads across d coun3, beta implementatn of budgets and of course d defeat of BH etc etc, sm of u re here arguing about an event dat wud tk place nx 3 yrs...FOCUS kids

1 Like

Politics › Re: Navy Intercepts 200 Illegal Oil Vessels by taharqa: 11:31am On Aug 31, 2012

How much has these reducd d shameful theft of crude oil in 9ja? Do we hv any such statistics?

Politics › Re: Price Of Bread In Lagos To Be Increased By 20% by taharqa: 11:20am On Aug 31, 2012

This 20% increase means a #50 bread becomes #60, a #100 bread becomes #120 and so on(like it has happend in many parts of d coun3). I dont why it shld increase at all cos d govt in additn to raising tariffs on importd wheat also concormitedly provided sm form of tax relief 4 dose companies dat wud blend wheat flour wit High Quality Cassava Flour(HQCF). Anyways, we shld put up wit dis marginal increases 4 now(cos it wud certainly go down) if it wud achieve its aim- reductn of d #630billion usd to presently import wheat 4rm d USA, creating wealth 4 cassava farmers nd jobs 4 processors, millers nd transporters of HQCF. We now produce almost 20million MT of cement 4rm 2million MT sm 6 yrs ago cos of dis kind of import substitution. We shld continue on dis path(and extend it to Fertilizers, Vegetable oil, Rice, Fish etc) as long as we stay on d course. We ought to be a Producing nation and less a Consuming one

1 Like

Politics › Re: The Scramble For Nigeria's Power Sector- Opportunities And Challenges by taharqa(op): 10:47am On Aug 31, 2012

esere826: @taharqa
You said: "let's make sure this works plz"

Just curious, why do you sound so concerned?

Your post sounds more like you're coming more from an investors perspective.

Politics › Re: The Scramble For Nigeria's Power Sector- Opportunities And Challenges by taharqa(op): 10:47am On Aug 31, 2012*

esere826: @taharqa
You said: "let's make sure this works plz"

Just curious, why do you sound so concerned?

Your post sounds more like you're coming more from an investors perspective.

Investors perspective ke?guy am just a youth in my 20's..why do I care much? ehmm, wot a questn! Well I care much cos am 9jerian nd cos dis is d only way dat 9ja can generate enough power in d tens of thousands of MWs necessary to tk us to d top of d world's economy. I dont criticize stupidly, I try to understand d situatn and choose my fight. There are oda tins i hv strongly advocatd we shld focus on on dis forum: passage of PIB, appointment of Special judges 4 corruptn and terroism cases, d release of d White Paper on d Oronsaye Panel on lean govt, monitoring d completn of railways and infact oda projects, formulatn of a new cost effective Contract Framework etc. Instead of us to be shouting and throwing banters at ourselves we shld focus on d important tins nd mk it happen

Politics › Re: The Scramble For Nigeria's Power Sector- Opportunities And Challenges by taharqa(op): 10:29pm On Aug 30, 2012*

This is part of a comment I made last month on the Privatiztion process and my plea that we ought to closely watch the process and keep every person involved on their toes cos belief me, there are people who would do anything to derail this process that started about 2 years ago from concluding within the next 2 months:

...The really significant thing for me though is that the Power Reform Process seem to been going according to plan this time around and it seem very likely now that we would see the end of the Privatization Process before the end of October. Below is a sketch of some of the steps already taken 1. The passage of d Power Reform Bill some years ago(which laid the legal framework for the actors in the Power Sector) 2. The unbundling of PHCN into 18 holding companies last year. 3. The start of d new investment-leaning Tariff Structure this July(This honestly was the first REAL sign for me that the government was now serious in privatizing the sector). 4. The almost complete conclusion of the termination process of the current 'PHCN' workers prior to their selective re-absorption by the proposed new owners( though there seem to be some problems with the workers' Pensions at the moment). 5. The take-over of the Transmission Company by a well-known international company(MHI) so as to reorganized and manage it before handing it back to the govt(PS: Probably so that there will be less saboteurs in the system going forward, the minister insisted that MHI bring 8 senior staff who will take over the management of the company while current Nigerian management staff act as their assistants for the 3-year period) 6. The close of the submission of d bidding process for sale of d 17 Generation holding companies two weeks ago. 7. And just yesterday, the close of the submission of bids for the Distribution companies, again on schedule.

Just yesterday the govt insisted that the time-line WILL be followed(as they seem to have been doing) and have re-started the important dates again:

"Briefing newsmen at the end of the NCP meeting on Monday, the Director General for Bureau for Public Enterprises (BPE), Ms Bolanle Onagorowa, said that the July 31 deadline for the submission of the bids for the Distribution Company of the PHCN remained sacrosanct as the Council vowed to strictly adhere to its timeline on the exercise...BPE boss also stated that the Council would meet on August 24 to reveal the bidders that passed the technical evaluation for the Generation companies’ bidders. She also disclosed that the Council would meet on September 11 to reveal the list of bidders that passed technical evaluation for the Distribution Companies.
Onagoruwa also stated that the financial bids opening for the Generation companies will be on September 25, while financial bid opening for the Distribution companies will be on October, 8. She also added that the Council would give final approval for the commercial bids for Distribution Companies on October, 22.
SOURCE: http://www.worldstagegroup.com/worldstagenew/index.php?active=news&newscid=5519&catid=26

One can imagine what will happen if this process concludes and Power generation and Distribution is privatized. It is also great that States have finally been granted approvals to distribute the Power it generates directly to its citizens- this is not just great news for states like Rivers, Bayelsa and Akwa Ibom but will hopefully also create some sought of competition amongst other states who would then be 'blackmailed' into generating Power for their own people(either solely or more likely in conjunction with Private Investors).

IT IS EXTREMELY IMPORTANT THAT THIS PROCESS IS SEEN TO ITS LOGICAL CONCLUSION AS THIS MAY BE THE MOST IMPORTANT PROCESS THE NIGERIAN GOVERNMENT HAVE EVER TAKEN , AND IT IS HAPPENING BEFORE OUR VERY EYES. We should not forget these dates(August24, September 11, September 25, October 8, October 22) and should insist that they are followed through please. This is where we need the Critics the most.

PLEASE SHARE. Thanks

In the last 2 years,the govt team(lead by Barth Nnaji of course) has actually done all the work needed to liberalize the Power Market(except perhaps concluding Agreements with workers and of course announcing the winners)- Constitution of NERC Board and subsequently addressing concerns about the licensing regime for power generation and power distribution companies; Formation of the Bulk Trader; Formation of Gas Aggregator; Provision of Guarantees for the the proposed companies; Formulation of a new Investment-savvy Tariff Structure; Unbudling of PHCN to its daughter companies; Contracting out the management of the Transmission Company of Nigeria (TCN); Operationalising the Nigerian Electricity Liability Management Company (NELMCO) etc. Most of the hard work has already been done, what is needed now is a conclusion of the process.

Please note those dates again(August24, September 11, September 25, October 8, October 22)- already the August 24 date was kept.Looking forward to Sept 11 and others. We MUST all ensure that this process concludes on schedule especially now that the man that was overseeing the process has resigned(or is it sacked?). Perhaps the most important INFRASTRUCTURAL Undertaking of this country- one which which is required to take our economy to the top of the world's is just within view. Lets make sure that this time around we get it right.

MAY GOD BLESS NIGERIA

Politics › The Scramble For Nigeria's Power Sector- Opportunities And Challenges by taharqa(op): 10:17pm On Aug 30, 2012

[b]In 2001, Chief Executive Officer (CEO) of Vodacom, Alan Knott-Craig, infamously said-when GSM licences were being auctioned in Nigeria- that he would not bid because he did not like doing business with those who are “smarter than we are” - a veiled reference to the stereotypical view of Nigerians as scammers.

Barely four years later in 2005 Knott-Craig was singing a different tune, when he said in an interview that “losing the investment opportunity in Nigeria was a real disappointment for us as a management team.”

Rival MTN had no such qualms, and today it is Nigeria’s leading operator with 43 million subscribers as at June 2012 and making $2.5 billion in core profit in 2010 and again in 2011.

The lesson learnt (by prospective investors) from Vodacom’s bad judgment of not investing in Nigeria is a reason for the current scramble for a piece of Nigeria’s power sector.

In spite of the difficult operating environment and numerous risks, investors clearly see the upside for gain in Nigeria’s power sector, which has the potential to dwarf the revenues made in the telecommunication sector.

Nigeria is currently the largest telecoms market in Africa.

The country’s four GSM operators MTN, Globacom, Airtel and Etisalat had a combined subscriber base of 90.3 million at the end of 2011.

With Average Revenues per User (ARPU) per month in Nigeria, hovering in the $10 range, it means the four operators had revenues of about $10.8 billion (N1.7 trillion) in 2011.

Telecoms contribution to Nigeria’s Gross Domestic Product (GDP), has increased from a negligible 0.5 percent in 2001 to 3.6 percent by 2009, according to data from the Nigerian Communications Commission (NCC), website.

Analysts say the telecoms success has raised hopes for Nigeria’s moribund power sector, if the government manages to successfully privatise it.

“Nigeria has often surprised on the upside, and the success in telecoms is a classic example. People are looking at power in the same way,” said Fola Fagbule, Vice President of Origination and Coverage at Africa Finance Corporation (AFC), a Lagos based investment bank.

Nigeria, with a population of 160 million people, is estimated to need about 40,000 Mega Watts (MW) of electricity over the next decade, but currently has less than 6,000 mega watts (MW) of available capacity, leading to costly blackouts that have kept the Nigerian economy from growing at its full potential for decades.

Nigeria needs $10 billion a year, or up to $100 billion of new capital investments over the next ten years to meet its power sector needs and it is hoped that privatisation will greatly improve service and output, with the government targeting 18,000 MW output by 2016.

The opportunity in the sector is what is leading to a scramble by local and international investors for a piece of Nigeria’s power assets.

Nigeria is working to sell off 11 distribution and six generation companies, as part of plans to privatise the power sector.

The Bureau of Public Enterprises (BPE) on Tuesday, July 31, 2012 received technical and financial proposals from 54 potential investors interested in the privatisation exercise of Nigeria’s electricity distribution companies.

Oando Gas and Power, Honeywell, and Gumco were among local and international firms to submit bids for the acquisition of the eleven electricity distribution companies scattered across the country.

Preferred bidders for the 17 successor companies are due to be announced on October 23, the BPE has said.

“Anybody who doesn’t invest in Nigeria has only himself to blame, going forward, if he misses out,” said Aliko Dangote (Africa’s richest man) in an interview last month.

“I don’t really know of any place where you can make as much money as you make in Nigeria.”[/b]
http://www.businessdayonline.com/NG/index.php/news/76-hot-topic/43631-the-scramble-for-nigerias-power-sector

Lets make sure that this works plz

Politics › Re: Namadi Sambo, Sacked Nnaji, GEJ Did Not. by taharqa: 8:10pm On Aug 30, 2012

Hehehehe....kai, so dis is wot hatred can do to a pason?do they lose every sense of reason nd shame? GEJ must be 'clueless';dat has bn d line sm pasons hv bn shouting around, so he must not be d one dat did 'dis' ie taking a swift decision dat protects a critical govt programe. It has to be smone else, dat much shld be 'self evident' -so we ought to find 'it'; lets give it to Sambo na..okay u hv 'convinced' us. Happy?#pathetic....advice:read tru yr own article again

Politics › Re: Nasir El-rufai On Barth Nnaji's Resignation by taharqa: 7:40pm On Aug 30, 2012

luckarub: If only all Nigerians wld understand this. Everybody say that 'they want PHCN to be PRIVATIZE, like the Govt did for NITEL', but the simple truth is that NITEL was not privatized. NITEL (0804... and some of its lines, even equipment) was still in existence when the likes of MTN came, but Govt and its cronnies let NITEL to crumble because they had interest in some of the telecommunication Companies then. The Govt shld deregulated that sector such that there will stiff competition, unlike the idea of wanting to sell it (PHCN) at the meager amount, even to themselves like we saw with Barth Nnaji's action.

There is nothing like 'PHCN' anymore. There are now 18 daughter companies in its place. Only d Distributn companies and d thermal plants wud be privatised to core investors(not even d whole 100% cos state govts and communities where d companies are locatd and workers can hold minority shares); the TCN(ie Transmission company) cos of its strategic importance wud not be sold but wud be under a Management Contract with a capable company for sm time(Manitoba International has already bn so contracted); finally, d dams wud only be Concessioned for a long period of time and are not to be sold cos of Water rights issues and dier Agricultural uses... I can tell u dat d Power Reform Process was very well thought out. The targets and timelines set by d govt team are bn meticulously followd(a rarity in Nigerian govt) including just last friday, Aug 24. The next date we are looking 4ward to is Sept 11(where d qualified bidders 4 d Discos are supposed to be announced). We all need to pray and importantly WATCH closely so dat dis process concludes cos it wud be quite simply d most critical INFRASTRUCTURAL undertaking in d coun3's history. Its effects can be beta imagind

Politics › Re: Nasir El-rufai On Barth Nnaji's Resignation by taharqa: 3:11pm On Aug 30, 2012

sojjy: El-rufai argues fine,no sentiment,no bias.Mallam is a man I would love to see occupying the post of president in Nigeria.He's a true Nigerian that really want the best for his dearest country.

Plz if dis is a joke, stop it

Politics › Re: OBJ - Nigeria Was Debt-free When I Left In 2007 by taharqa: 2:58pm On Aug 29, 2012

chucky234: **2007**
Foreign reserve = $45bn
Domestic debt = $00.00
Excess crude A/c = $35bn
.
**2012**
Foreign reserve = $8bn
Domestic debt = N6.21tn
Excess crude A/c = $00.00
.
We are making progress,kudos GEJ and co.

I dont kw why u re a consistent lier; cant you seem to mk an argument witout ranting or using very incorrect data. When Obj left d Foreign Reserves was more dan $50billion, which Yar'adua began to draw down towards d 30's cos of d demands of d governors, d global economic crisis and d CBN determinatn to 'defend' d naira. This trend continued in d early days of GEJ but has bn reversed now cos d Foreign Reserves has dis month gone pass $40billion up 4rm $32billion early dis yr, and on its way to reaching or even surpassing d $50billion mark set by d Finance Minister by d end of d yr(where u got yr $8billion is known to u alone). Just ysterday, d very important and investment-savvy Sovereign Wealth Fund(SWF) to smartly manage part of our savings and target huge investments like oda OPEC coun3 like UAE does- dis was done ova d huge opposition of d governors.. On debts, Obj reducd Foreign Component and nt d Local one which actuali increasd(so where u got d $0 figure is also only known to u). Yar'adua nd Gej has indeed increased d Local debt and 4 smone like me dat is very suspicious of debts generally d rate at which it is increasing is troubling and needs to be reind in by d Federal, State and sm Private cops; d Foreign Debt has only slightly increasd. However, every economy borrows, furdamore, 9ja's GDP/Debt ratio is still significantly below d 40% global threshold, though like I said d rate of increase in Local debt shld be decreasd.... Stop manufacturing data to mk arguments, you end up looking silly

Politics › Re: Sovereign Wealth Fund Kicks Off As Board Is Unveiled by taharqa: 5:47am On Aug 29, 2012

Very, very GOOD move in deed...the Investment Community(Local and International) takes notes

Politics › Re: Jonathan Visit: Anambra Closes Markets by taharqa: 5:35am On Aug 29, 2012

Politics › Re: Lagos Streetlights Are A Disgrace!!! by taharqa: 5:14am On Aug 29, 2012

Rossikk: @kobojunkie and blacksta, the difference between you and I is that I engage in constructive criticism, a concept foreign to your muddled faculties.

GBAM!!

2 Likes

Politics › Re: Minna-kaduna Railway Service Is Finally Up And Running! by taharqa: 4:35am On Aug 29, 2012

VERY Good..I have previously written this(as part of a larger comment) recently. Read through this and the links; certain things are happening in the country:

[b]The nation is also undergoing its most

audacious developments in the

Transportation Sector- Rails, Inland

Waterways and Seaports. On rails,

the NRC that have been moribund for

very many years have been revived,

more workers re-engaged and most of

its dilapidated facilities across

the nation repaired; all the rail

tracks in the country are been

rehabilitated(actually most of the

tracks have been rehabilitated

already and some intra- and

interstate trains services have

started running after a very long time

in deed). The Standard Guage

Itakpe-Aladja-Warri rail track is

finally completed(with additions

planned) while the Modern Abuja-

Kaduna track is on going(about 30%

completion) just as the Double track

Lagos-Ibadan Modern(which is

different from the narrow guage

Lagos-Ibadan which is already

running trains) has been awarded

about 3 months ago.
http://leadership.ng/nga/articles/31659/2012/08/04/rail_rehabilitation_are_we_waiting_godot.html
file:///C:/Users/odia/Desktop/New%20folder/Newfolder/Nigeria-Federal+Government+Raise+Power+Output+9+000MW.htm[/b]

LINK: https://www.nairaland.com/1029269/reuben-abati-jonathan-dont-know/5#11947775

Health › Re: Nigerian Farmers Help Nestlé Address Micronutrient-Deficiency by taharqa: 1:42am On Aug 29, 2012

mkmyers45: Where and where please? Educate us

See these:

http://www.businessdayonline.com/NG/index.php/analysis/editorial/43432-go-farm-young-nigerian

http://www.businessdayonline.com/NG/index.php/analysis/editorial/43432-go-farm-young-nigerian

Politics › Re: Barth Nnaji Resigns (Or Sacked) From Power Ministry? by taharqa: 11:26pm On Aug 28, 2012

Sky Blue: If this man didn't resign and tomorrow the press focused on possible conflicts of interest with him being the power minister, we will have had the usual sanctimonious tirade to endure. Besides I thought he was not performing quite as well as we wanted him to?? I know it can seem difficult but please let us try and keep it consistent for once!

Bros, the HYPOCRISY in Nigeria is sickening..and annoying as hell too

Politics › Re: Barth Nnaji Resigns (Or Sacked) From Power Ministry? by taharqa: 11:15pm On Aug 28, 2012

maclatunji: I didn't praise him then and I am not praising him now.

But you are a confirmed "winch" na....no surprises

Politics › Re: Barth Nnaji Resigns (Or Sacked) From Power Ministry? by taharqa: 11:06pm On Aug 28, 2012*

CHouse: Nigeria is finished abeg. The only person in GEJ cabinet making visible impact resigning just like that doesn't add up. The recent appreciation in power supply must have really gotten the cabals mad. Nigeria wouldn't get far with this perception.
The other day in kwara, some agberos went ahead and sabotaged rail tracks on the ilorin to offa axis because the people were deserting the motor parks & opting for train services which are cheaper & safer. The garage touts had to go and destroy the rail tracks to ensure continous business flow (smh). Nigeria is a mess.

Are you sure about this?...if true,then I *smh* more vigorously than you,Bros. They spent money and time to build those rail tracks for God's sake. Do they understand the opportunity costs of their stupid actions to the their own ppl there?....#whatTheHellisWrongWithUs

Politics › Re: Barth Nnaji Resigns (Or Sacked) From Power Ministry? by taharqa: 10:33pm On Aug 28, 2012

Minister of Power, Professor Bart Nnaji

By Chineme Okafor

[b]Participation by two companies linked to the Minister of Power, Professor Bart Nnaji, in the power privatisation process has compelled the National Council on Privatisation (NCP) to cancel the technical bid evaluation process conducted for Afam Generation Company Limited and Enugu Distribution Company Limited.

The NCP, after its meeting last Friday, had announced the results of the technical evaluation conducted for the 25 bids it received last month for the six generation companies (Gencos) created from the unbundling of the Power Holding Company of Nigeria (PHCN).

From that process, seven bidders were said to have successfully met the cut-off mark of 750 and above during the technical evaluation process and were prequalified to have their financial bids open on September 25.

They are: Phoenix Electricity, Transcorp Consortium and Ampiron Power Distribution Limited, which bid for Ughelli Power Company; CMEC Energy and GPN Nestoil Power Services Limited for Sapele Power Company; while Ampiron Power Distribution Limited, Mainstream Energy Solution Limited and North South Power Company Limited were prequalified for Geregu, Kainji and Shiroro Power Companies respectively.

However, THISDAY learnt that the NCP was silent on the bidders that were prequalified for the Afam Power Station owing to the potential conflict of interest that had arisen during the privatisation process.

An NCP source informed THISDAY that before the consideration of the report of the evaluation, Nnaji, who is a member of the NCP by virtue of his position as Minister of Power, had brought it to the attention of the council that O & M Solutions of Pakistan, a member of one of the consortia bidding for Afam, had worked as a contractor for Geometric Power.

The consortium, in which O & M Solutions has a stake, is Skipper Nigeria Limited, which had submitted technical and financial bids for Afam on July 17, the deadline set by the Bureau of Public Enterprises (BPE) for the submission of bids for the Gencos.

Other companies that bid for Afam, a power plant in Rivers State with an installed capacity of 776mw, are Primeniza Energy Limited and NPG Consortium.

The minister further notified the NCP that Geometric Power has a minority stake in Eastern Electric Nigeria Limited, which had submitted technical and financial bids for Enugu Distribution Company Limited on July 31.

He also informed the council that owing to his position, he had notified President Goodluck Jonathan of his company’s bid for Enugu Distribution Company, and brought it to their attention that although he has an interest in Geometric Power, he had resigned from its board and transferred his shares to a blind trust.

Nnaji had on several occasions maintained that since his appointment as the president’s Special Adviser on Power and later as Minister of Power, he had resigned his appointment in Geometric Power, transferred his shares to a blind trust and does not participate in the day-to-day operations of the company.

Geometric Power, a pioneering independent power producer, was set up by Nnaji and built the 22mw Emergency Power Plant in Abuja. It is in the process of rounding off the construction of an integrated power plant in Aba, Abia State.

Following this disclosure, Nnaji was said to have excused himself from the consideration of the report of the technical bids.

Having been informed of Nnaji’s direct and indirect interest in two companies being privatised, the NCP source said that the council decided to cancel the technical evaluation that had been conducted for Afam and disbanded the evaluation team.

It also decided to stop the evaluation of the Enugu Disco, which is still ongoing, and would likewise disband the evaluation team.

The decision to cancel the evaluation for both companies, the source explained, was premised on the fact that all major stakeholders in the power privatisation process had been asked to send nominees to participate in the evaluation process.

“The BPE had a nominee, the power minister sent a nominee, NERC (Nigerian Electricity Regulatory Commission) sent a nominee, NIAF (Nigeria Infrastructure Advisory Fund) sent a nominee, and BPE advisers sent nominees.

“So the council had no way of guaranteeing that the minister’s nominee, during the evaluation of the technical bids, was not biased,” the NCP source said.

He added that it was on this basis that the NCP decided to cancel the technical bid evaluation process for Afam and Enugu (which is still ongoing), and that other evaluation teams, without the minister’s nominees, would be reconstituted to re-evaluate the bids submitted for the PHCN successor companies.

He said the evaluation process for Afam is not expected to exceed three days, adding that the report should reach the NCP either this week or early next week, while that of Enugu would be submitted alongside the report of other Discos.

The source said NCP had taken the decision because it was imperative for the process to be transparent and fair, as any hiccup could mar the entire programme.

However, it is uncertain if NCP’s decision to re-evaluate the bid submitted for the Enugu Disco would still comply with the rules of the privatisation programme.

Providing clarification on the rules of the privatisation process, which the NCP had approved during his tenure as Director General of the BPE, Mallam Nasir el-Rufai, said although the Public Enterprises (Privatisation and Commercialisation) Act, 1999, does not bar staff of the BPE and council members from participating in the process, the Code of Ethics does so.

According to him, “The Code of Ethics, which the NCP approved during my tenure as a subsidiary legislation, as permitted under the Act, prohibits staff of the BPE and every member of the council, whether statutory or co-opted, from participating in the purchase of shares through the privatisation programme.

“This was approved by NCP and I am certain the present DG can provide you with the Code of Ethics, if you want it.”[/b]

http://www.thisdaylive.com/articles/privatisation-bids-cancelled-over-firms-linked-to-nnaji/123388/

I hope this was what happened,though I suspect the are more stuffs beneath all these

Politics › Re: Barth Nnaji Resigns (Or Sacked) From Power Ministry? by taharqa: 10:24pm On Aug 28, 2012

I am astounded by this decision. Nnaji was one of the Ministers that was doing his job meticulously.

For all we know now, he had some possible Conflict of Interest with two companies to be privatized(Afam and Enugu Disco) through his company. He apparently informed the NCP(National Council on Privatization) about this and they deferred consideration on the companies cos they didnt want to mar the entire process. He might have had to resign inorder to safeguard the integrity of the entire process(all these kind of looks to good to be true so there might be other things involved which we are not aware of yet- if however, this was what happened then my respect for him,the NCP and the Process is increased).
http://www.thisdaylive.com/articles/privatisation-bids-cancelled-over-firms-linked-to-nnaji/123388/

The Privatization process is one in which the govt has really impressed me so far by the kind of work they have done almost from the start,and how they have committed to adhere to their own timeline which was set in March(a rarity in Nigerian Government). All the dates given months back have been kept by these people including the Opening of the Financial Bids of the GENCOS on Friday August 24 just as was set. I hope that the process that was supposed to conclude late Sept/Oct this year(just about a month or two to go for a process that would be Nigeria's most Significant INFRASTRUCTURAL initiative in her history). THIS PROCESS MUST NOT BE ALLOWED TO FAIL PLZ

https://www.nairaland.com/1004060/something-wrong-power-improving/13#11639505

3 Likes

Politics › Re: Barth Nnaji Resigns (Or Sacked) From Power Ministry? by taharqa: 9:57pm On Aug 28, 2012*

Gbawe: Indeed. The likes of Nnaji are good guys , too willing to serve their nation to the extent they ignore how their employer is an appointee of the system that revels in failure for the masses and stupendous wealth and overwhelming control for the few 'insiders' and "owners of Nigeria". Nnaji is supposed to defeat Atiku (Mikano) and other Vultures like Otedola when his last line of defense is a highly corrupt President sponsored into office to protect the interest of the "business as usual" crowd?

Prof Nnaji, you are a patriotic man but you were always fighting a losing battle as some of us concluded ages ago. You were a pawn in the wicked game vacuous opportunists deceived you with - all in the effort to pretend they are seeking solution while they deepen the problem. You are now a victim of the treachery of Nigerian politics that means corrupt Presidents,sponsored by saboteurs, deploy credible folks like you to add gloss to their regime while the real intention is that you never succeed. Just ask Tai Solarin et al.

SHUT YOUR MOUTH there HYPOCRITE. Where you not one of those persons here saying that he was not doing anything in the Power Sector, that he was part of the "corrupt" people in govt. Now that it suits you, you are now singing a diff song, calling a "good man" cos you can now use it to bash the President and his govt(your entire purpose all along).

You are a SLIME Power Monger; just get lost quick

I HATE HYPOCRISY

6 Likes

Politics › Re: President Jonathan Admits Failure - ACN by taharqa: 5:53pm On Aug 28, 2012

I like Fashola nd Oshiomohle...but d ACN talk too much, and wen u do ppl begin to tk u less seriously

Politics › Re: Nba Elections Were Rigged: Lawyers' Group by taharqa: 5:49pm On Aug 28, 2012

Go to the courts plz and stop disturbing us...shee they are lawyers?they kw wot to do

Health › Re: Nigerian Farmers Help Nestlé Address Micronutrient-Deficiency by taharqa: 4:31pm On Aug 28, 2012*

likethespirit: you see, this is the more reason why the government should really look into ways of improving the Agricultural sector,but they will always think its a waste of time until the worst happens.

My frnd go and take a look at what is going on in d Agriculture Sector as per d new Minister....too much opportunities opening up, and lot of pips dont kw or are busy talking..GOOGLE

LINK: http://www.newworldnigeria.com/pdf/AdesinaLondonBOIForumfinal.pdf

http://www.businessdayonline.com/NG/index.php/analysis/editorial/43432-go-farm-young-nigerian

Travel › Re: Aviation-Minister Blocks Foreign Airlines From Abuja by taharqa: 2:45pm On Aug 28, 2012

blacksta: It is highly unlikely airlines would accept the Enugu route, who would pay for the empty seats - Another ill thought concept from dodgy Minister. If i were the mInster , i would simply introduce soft terms in the contract saying any airline wanting an Abuja or Lagos landing spot should also consider acquiring landing spots at other local airports.

That is exactly why she is negotiating wit dem... Read d article itself, and stop tking d titles of reports so seriously

Travel › Re: Aviation-Minister Blocks Foreign Airlines From Abuja by taharqa: 2:36pm On Aug 28, 2012*

Nigeria's present day 'Rumour Peddling' Journalistic Industry.'source' said dis, 'source' said dat..reading tru d article shows clearly dat d real sources interviewd(the govt officials and even airline official- not d anonymous 'source') neva said d airlines were barred 4rm entering Abuja(or d north) but dat they re trying to encourage dem to use oda 'international' airports in d coun3 instead of conc and overstretching Lagos nd Abuja airports . It is exactly when you are negotiating airspace permits dat these kind of conditions are given...hw can a minister overseeing d reconstructn and remodeling of 11 airports spread all over d nation, wit Kano International Airport bn d only complete one while odas are still about 70-80% complete be against d north(she shld hv delayd Kano). People just like to bring ethnicity/region to every thing in dis coun3.shame on Dailytrust and dat anonymous 'source'

2 Likes

Culture › Re: Soninke (serahule) People And Ghana Empire by taharqa: 4:57am On Aug 28, 2012

@Thiendela

See these sources:

http://jwsr.ucr.edu/archive/vol10/number3/pdf/jwsr-v10n3-kea.pdf

http://www.arts.ualberta.ca/~amcdouga/Hist446/readings/conquest_in_west_african_historiography.pdf

Politics › Re: Buhari Blasts IBB, Obasanjo, Jonathan For ‘killing’ Nigeria’s Oil Industry by taharqa: 11:47pm On Aug 27, 2012

The General "forgot" to mention the sleez-filled admin of Abacha..wait he had said before that the Abacha(from whom billions of dollars have been taken and whose son is presently undergoing trial in Switzerland for corruption in that regime)was not corrupt!!! Yes oh, Imagine right? Anyways, the General was part of that admin( PTF Chairman ) so there couldn't be any thing wrong with the regime- in fact that admin might even have been the 2nd best in Nigeria's political history, after his own 1983-1985 rule of course.

Am curious as to why he selected JUST these 3 ppl as the corrupt ones :
IBB(sacked him from office- he has never forgiven him);
Obj(defeated him twice- count the 2007 one where he imposed Yar'adua);
GEJ(2011).

...just thinking..

HATE HYPOCRISY

Politics › Re: I Will Surprise My Critics By 2013 – Jonathan by taharqa: 10:48pm On Aug 27, 2012*

topsywest: Thanks but i refuse to join issues with you. The best way to kill an argument is to label the other party insane. If you have better points why don't you state them instead of trying to attack my person?

Take a look at this:

The 2012 budget is a total of 4.7trillion at $70 dollars per barrel of crud oil as the bench mark. Today, crude oil is sold at $113 an excess of $43 which is about 50% increase in the estimated price of $70. The implication is that there is an excess of revenue accrued to the nation. this is apart from the additional barrel explored per day. Femi Falana made this calculation earlier this year and no one has disputed the figure as it came from the government.

1. Crude Oil production/day - 2.5M barrels
2. Current Price = $113/barrel
3. Daily Sales = 2.5M x 113 = $282.5million
4. Monthly Sales = 282.5M x 30days = $8.475billion
5. Yearly Sales = $8.475billion x 12 = $101.7billion
6. Naira Equivalent = 101.7billion x #160 = 16.272trillion naira per year.
7. Nigeria's budget for 2012 = 4.5trillion naira.

As at today, we are running on debt and GEJ led government is still toying with the idea of borrowing more with tacit endorsement from IMF and recommendation from Iweala.

See why I said your task master GEJ should resign rather than impoverish us in the midst of plenty? After reading all these, If you still maintain your current state of thinking, then i weep for your future generation.

*Shakes Head* for pips, many of whom are intellectually challenged who come on public forum to spur nonsense; and amazing do this with every confidence.

First, the average price of crude for the year should be around $100 per barrel, not $113. 2nd, when you multiply the barrels of crude per day for the 365 days(1 year) and multiply it by this average price of oil per barrel you get the price at which the crude is SOLD ie it is not the amount that gets to the govt directly(like you ridiculously but confidently did here) but the SELLING PRICE for the crude.

But what of the costs that Oil Companies incurs in order to get the crude oil to the market(abi you think say the crude oil just jump from ground to the refineries? )- exploration costs, exploitation and production costs, processing costs, pipeline costs, shipping and ports costs, labour cost, insurance etc etc . When you subtract this TOTAL COST from the SELLING PRICE you then get the PROFIT. The PROFIT is the ONLY thing available for SHARING.

This PROFIT is shared between the Oil Company(for your mind you think say they come eat beans for Nigeria) and the Govt at around 40%:6o%. This 60%(lets call it "Govt Share" wink

goes directly to the FEDERATION ACCOUNT, not the Federal Govt(I hope you know the difference between them). This "Govt Share" is further shared thus: 13% goes to the Niger Delta States(including littoral states that benefit from the onshore/offshore dichotomy), about 2% to ETF and some other direct line taxes and obligations; the remainder(FEDERATION ACCOUNT SHARE) is then shared between the Federal, State and Local Govts. The Federal Govt receives just about 56% of this remainder.

SUMMARY:
SELLING PRICE(the amount that you used)- TOTAL COST= PROFIT;
Govt Share= 60% of PROFIT;
FEDERATION ACCOUNT SHARE= Govt Share-(13% Derivation + ETF Tax + other First Line Charges);
FG share= 56% of FEDERATION ACCOUNT SHARE.

Understood? Now, redo the calculation and tell us what the Federal govt actually gets after this process;I cant do that work for you.

Once you guys stop the insults and half-truths that you hide under when making arguments and actually make the mistake of using data, the thrashs that you guys spit would be obvious.

PS: Astonishingly, you ended this tirade with: "After reading all these, If you still maintain your current state of thinking, then i weep for your future generation."- in your mind you thought you had "nailed" it and of course some persons(just like you) clicked LIKE.
*Shakes head*

3 Likes

Politics › Re: Electricity Will Drop By 300MW After Rainy Season – NERC by taharqa: 11:28am On Aug 27, 2012

chucky234: Who is this clueless goon with excessive brain turmoil,what do you know about power generation to quote me. Instead followingt up with govt activities to know what is happen you choose to read Daily Trust rather than read life situations,do you know the difference power generation statistics,capacity statistics and transmision statistics which brings us to distribution.
Still ask you,how much has this govt spent so far to achieve this little that you blindly celebrate,do bother to quote me if you cannot come up with the figure,mumu.

So this is d best u can do? Insults and Rants? U claimd dat 'less dan 3500MW was bn distributd', and we are only asking 4 yr sources 4 dat claim. U do kw dat yr opponents here hv provided various sources while u hv bn talking 4rm yr head, right? On yr asking wot I knew about d Power sector, I laugh. U hv no idea bout d ppl u re arguing wit; anyways, am waiting 4 u to lecture me bout d 'electricity' sector as u put it*smile*. Plz start wit providing sources 4 yr claims, am waiting.....wait oh, who am I kidding? I actuali expect u to behave as though u didnt see dis or respond wit insults and soundbites, #typical.but maybe u wud actuali prove me wrong

Politics › Re: Electricity Will Drop By 300MW After Rainy Season – NERC by taharqa: 10:30am On Aug 27, 2012

chucky234: I have no doubt that you are suffering from a rare brain disorder,power goes to over 4430MW? Do you know that what we have in distribution is below 3,500MW? If the total capacity is reduced by 300MW then we are going to be left with say 3,200MW in distribution,now tell me where this govt did miracle after spending billions of dollars.

How d hell did you get this info. Are u guys not tire of Lying in public? You just decided to manufacture d lie dat 'less dan 3500MW' was bn distributd 4rm yr head, and still hv d guts to use it to argue in a public forum? Wen smone tries to correct d info by providing a source, you say dat Dailytrust is a govt paper! Do u live in 9ja? Which paper, apart 4rm say Sahara Reporters, is more anti-govt dan daily trust. By d way, most oda papers reportd dis including d same Punch u guys hv bn misinterpreting...cant u guys ever mk a complete argument witout hving d need to employ lies, halftruths nd distortions. U will win ova more intelligent ppl dat way #honestadvice

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