₦airaland Forum

[quote author=Omo_Tier1]Hehe.... Abeg go educate yourself with this press release as at 2012... you know you are not as half clever as my neighbor's lobster pet

http://www.firs.gov.ng/Media-Centre/FIRS%20Press%20Releases/PRESS-RELEASE--NON-OIL-COLLECTION-LOOKING-UP.pdf[/quote]Dear God!!! Did you open and read the very link you just put up??

How does FIRS collecting #2.56trillion over the 1st 6months of 2012 (both Oil and nonoil taxes) and about #5trillion (ie about $30bn) for the whole year equivalent to saying that THE Govt receives $100bn yearly? Are you really this sick in the head?

That you even tried to defend this silly claim is the greatest testament of what a DUNCE you really are.

#spitsindisgust

[quote author=Omo_Tier1]I understand your view point also, however, I asked this question: With the billions of dollars that accrue to the government yearly ( in excess of $100bn) why is it difficult for the government to put in place an airport project of the future?

Can you compare even this Kenya airport with that CGI that they want us to call our airport of the future [/quote]Which Govt gets $100bn yearly, you Congenital LIAR??

You are allowed to keep fooling yourself as is usual, with ya completely Senseless musings (which in this case are so glaringly stu.pid that not a single person hv supported you so far, not even you fellow Clowns), BUT you are allowed to tell bare-faced Lies here. You have been warned.

Is it true that Gov Rochas wants to spends (or rather, spent abi na spending) #15bn of Imo State's money to build 'City Gates' in Imo??

manny4life: @Magic Bishop,

Nwanne mmadu, ozugo... Please stop this and forget the gifs, it's not worth it. Let's enjoy the thread, at least, stick to the topic.

ENDORSED.... @Bishop, abeg do the needful. Let the Clowns clown themselves to stupor, Biko

@Omoko-tier has been and wud always be a COMPLETE DOLT, both here on NL and in real life. People shld learn not to waste any more of their time on Politics Section's Resident Chief Troll.

Now @topic, you guys shld take a look at the Vids from this link from the OP's youtube Vid, showing various activities/transformations in the Aviation Sector: http://www.youtube.com/user/aviationnigeria/videos

I have watched and Saved some of the Vids for further purposes.

Thnks, @OP.

This is Good...... The Nigerian Judge has been vindicated, apparently. He always insisted he was Innocent..

Thnk God they released d Render this time. They shld be doing so for all intending projects.... Beautiful Render by d way

I just dey laugh....

Enigma17: Very good...its nice to note that we still have retired army generals that reasons with their brain....

These particular Generals are not amongst those seeking Power desperately. That is d main distinguishing difference, Bruv...

@'Ndu-chuks', Shame no dey catch you?? Hv you reali got no Shame?

MODS, front page abeg. Great debate topic....

[quote author=Omo_Tier1]I have told you before, you are by far less clever than my neighbour's pet lobster! To imagine these thoughts exist in the head of a human being is really pathetic.

Sane posters on here knows your handle as one of a pathological liar with snared devilish heart that praise sing darkness. A pathetic soul.[/quote]I smtimes just imagine what you are in Real life. How extremely UNFORTUNATE those persons around you are. The level of Negativity and Bile you 'share out' to them everyday. It reali wud succk been you, in real life....#smhinutterdisappointment

[quote author=Omo_Tier1]Is it surprising that you cannot connect the dotted lines and know where the growth Nigeria is currently witnessing comes from? Let me educate you a little. Most of those musicians you mentioned barely contribute to the Nigeria local economy.the shows you made reference to are they promoted by Nigeria based companies who pay taxes to the nigeria coffers? The tours by flavour and co, are they organised by Nigeria based companies who does business in Nigeria and pay taxes in Nigeria?

As for my statement about local domestic liberalisation of the towns, villages and pseudo urban towns visit a viz the hard working governors. Any keen observe in Nigeria would notice how villages hitherto locked away from the big Burbank cities are gradually being opened up by rural projects e.g roads, being executed by some governors. This for example , has resulted in most rural dwellers having access to bigger markets to sell and buys goods more than before and most urban dwellers now are able to penetrate these rural areas and also increase their market reach. I know most of you do not understand how these impact of the economy hence the reason you sing praises of governors or ministers who buy bullet proof cars.

A good case study I will use which I know very well is in Edo State. Over the past four years, several villages hitherto locked out of Benin City due to bad roads, lack of schools etc are now coming back to life since the governor started building roads to connect this villages. In Edo central, there is village close to Ugboha that used to have nearly 80% of their agricultural produce destroyed, with people paying twice for some commodities because those who brought them priced the commodity exorbitantly because they know these villagers could not afford to bring these commodities in themselves. With the government constructing a new road to link the village, transporters from Benin now ply that village route and the people hare able to access the bigger market in a Benin City and elsewhere.

These are the sorts of things some hard working governors are doing that is the bone of the growth you are seeing in the Nigerian economy. Hence the real reason many of us are clamouring to devour power from centre and strength the local councils as they will be the ones to unlock that true growth and development potential of the rural dwellers.

I can go on and explain further to let confused minds like you know that GEJ's government has contributed very little to the growth we are witnessing and I fact He is like a salt in a soured flesh [/quote]STOP trying so hard guy to remove every doubt that you think like an IJIOT from d minds of those persons that do not yet know you. Let only those of us who know both you and extent of yr fooolishness, be d ones that wud keep d thoughts. Plz, I am begging you; from one human to another....

[quote author=B.L.S]People can deceive themselves if they want to... I just returned from Ibadan and its clear that everyone in the main SW cities are ready for the removal of GEJ, the only thing that saddens me is that Yinka Odumakin who I respect so much is still being the mouthpiece of these selfish old men. I know he hates all things Tinubu (and rightly so) but even he needs to realise that even a broken clock is right twice a day.

Anyway the people in SW will continue to speak clearly in the next few months.[/quote]Reali?? So you mean you went to Ibadan and spoke to 'EVERYBODY in d SW cities' from Ibadan, where they all told you that 'they are all ready for the removal of GEJ'? Abi?...#EWUDAN

[quote author=Omo_Tier1]I am sure ten years ago, you were still roaming the streets in your village, hence the reason you did not know that Nigeria musicians right from the 60s were mega rich taking into account the Naira value!

The earning power of most Nigerians have not changed considerably in the last ten years, rather what have changed is the population of those earning decent wages have upscaled, that is why nigeria is now regarded as a middle income earning country.

Stop attributing the growth Nigeria has witness in her economy to one inept puppet in Aso rock. Even though I have so much to say against Obasanjo, however, to His credit, several bold reforms He initiated is still one of the reasons the country is standing today even in the face of the blatant looting of the highest proportion by the present corrupt and visionless government.

If anything, I would attribute the meagre growth in the economy to the local domestic liberalisation of the towns and pseudo urban towns by some hard working governors as the main contributing factors rather than any bold policy of growth by the government in centre. Facts abound to buttress my conclusion further.[/quote]Another booth of Arrant NONSENSE again....

Coolboi05: sir are you immune to comprehension or what??

lol... You shld be asking yrself that question not him, 'Sir'

Gamji007: My dear Generals, posterity will ask where were you when Goodluck Jonathan annihilated Nigeria!





But don't worry, he is most likely gona fail.

You think d above Generals think like d SLAVES that some of you guys are? You think they get easily swayed by PROPAGANDA, Lies and Half-truths like you pathetic things? You think they are as hopeless and pea-brain seized as you chaps??..... Keep thinking in a narrow, unidirectional way, urged on my mindless but determined Power Mongers who are leading YOU to your OWN destruction. Goodluck to you, though..

The Imposter @'ndu-chuks' LYING tru his azzz again? What is d link bw d NEITI Audit Report implementation and d sillly Sanusi 'letter'? Do you even know what constitute d bulk of d monies that NEITI want remitted/paid to d FG ie who are d main 'debtors'? And do you know d time period the NEITI reports audited?.... Guy, go rear cattle or smtin joor if you are too bored this clear Saturday morning

[quote author=99/100]Let those who have ears hear..[/quote]Will they?? Or rather, Can they?

Energito: These people are the real s.w not this fools we have here in this site.

Gbam!!!!!!

[size=18]POULTRY[/size]

[size=16]Poultry production shoots up 20% in Nigeria[/size]

Growing health concerns in Nigeria about smuggled imported poultry have led to a 20 percent increase in local bird production in the last one year, boosting farmers earnings and creating more jobs in the local industry.

The poultry, mainly chicken, are now sold by large emerging super stores spread across urban centres. They are sold raw or smoked and are supplied directly or through distributors, by big agro companies such as Chi Limited, which have large farms and complimentary processing units.

Poultry-farmThe ready-to-cook chicken stock are supplied in modern packaging and are well preserved through continuous freezing, which supermarkets have the capacity to provide.

This, along with the hygienic environment of these retail shops, is driving up sales, in spite of the higher prices.

A smuggled imported frozen whole chicken for instance, is sold for between N700 and N1,200 depending on the size, while the locally produced frozen chicken goes for as high N1,650 or more, in the supermarkets.

This however is not deterring the growing league of high networth individuals who now have a habit of shopping for food in the supermarkets due to the assurance of hygiene, the beauty and safety of the environment, as well as safety of the environments and the benefit of available and free parking spaces.

This current growth was envisaged by the Nigeria Agribusiness Report in its third quarter 2011 edition, which predicted that between 2012 and 2015, due to rising living standards and expanding population, there would be an increase of about 23 percent growth in the poultry industry.

The prediction was based on increased government support, improved farming techniques and growing demand for poultry.

This increased demand for wholesome poultry stock by the middle class has been spurring business expansion among existing poultry producers, and also stimulating new investments.

Though there have been crises in the industry due to security challenges in the north of Nigeria, which led to lower demand for eggs from there, the growing middle class, their changing tastes and health concerns have spurred demand in the southern parts. Chickens and eggs are even being branded by producers as an assurance of quality.

Quail farming, another form of poultry, (a bird which is adjudged by health experts to be very beneficial healthwise, as it is very nutritious and does not contain cholesterol) is adding to the boom in the industry.

Also, the Nigeria Customs Service, in response to outcries of stakeholders and the efforts of the Federal Ministry of Agriculture, has increased the interception and destruction of smuggled poultry products.

Dotun Agbojo, president of the Poultry Association of Nigeria, Lagos Chapter (PANLAG) recently in Lagos said from the beginning of the year to date, the customs have seized over N500 million worth of poultry products from smugglers. Agbojo urged the service to intensify its’ efforts. He drew attention to the health hazards, stating that smugglers went as far as hiding poultry in fuel tankers. The Nigeria Customs Service and other stakeholders have also at various times, pointed out the health hazards involved in the consumption of smuggled poultry.

A representative of the National Agency for Food, Drug, Administration and Control (NAFDAC) I. Sanni, during a recent poultry show held in Lagos, observed that the cold chain is usually broken during the transportation of the imported poultry.

At such times, he said, microbes begin to work on the meat. Subsequently, they may be kept in freezers again if they make it to the Nigerian market, but they expose unsuspecting buyers to health hazards.

Kola Oyedeji, a chemist and farmer, said the smuggled poultry is usually preserved from spoilage with formaldehyde, the same chemical used in mortuaries to preserve corpses. This, he said, exposes consumers to carcinogenic substances which predisposes people to cancer.

There are however still a lot of challenges experienced by producers in the country. These include high cost of input, and infrastructure challenges. But the domestic poultry industry as predicted by a 2011 Nigeria Agribusiness Report, is growing. Onallo Akpa, an executive of the Poultry Association of Nigeria (PAN) estimates commercial production at N51.2 billion (US$3.2billion) and rural family production at N320 billion, with 553,000 metric tonnes of eggs and 708,000 metric tonnes of broiler meat being produced as at 2011.

http://businessdayonline.com/2013/12/poultry-production-shoots-up-20-in-nigeria/

[size=16]Commercial Banks Loan to Agric (including Rice) increases by more than 600% in a year, from #3.5bn in 2012 to more than #20billion this year[/size]

Last week, the Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, hosted the Central Bank of Nigeria and other commercial banks’ executives at the Zuma Hall of Transcorp Hilton Hotel Abuja, to discuss issues relating to lending to the ministry’s transformation programmes and farmers across the country.
In his speech, Dr. Adesina said the partnership between the Central Bank of Nigeria and the Federal Ministry of Agriculture has moved agriculture forward in the last two years. ‘The amount of lending going into agricultural sector has increased,’ he said.
‘We started last year a programme called the Growth Enhancement Scheme in which we get seeds and fertilizer to our farmers. That scheme is very important because is the scheme we used to end 40 years of corruption in fertilizer and seed distribution in this country,’ Adesina stated.
The minister told the gathering that between 1980 and 2010, the total amount the federal government put into fertilizer subsidies was about N873 billion. But N776 billion of that ‘literally just developed legs and hands and walked away’ because government was buying and selling the fertilizer, but farmers were not getting it. “Farmers were getting poorer while government kept spending more money,” he said.
“We cleaned up the corruption of 40 years in 90 days,” because fertilizer and seeds are sold directly to farmers through the electronic wallet system - the scheme where dealers use mobile phones to get seeds and fertilizer to the farmers.
[b]“Government no longer sells fertilizer, but of course none of that will work if there was no money in the system. That was why the Ministry of Agriculture and the Central Bank worked on the programme called Nigeria Incentive-Based Risk-Sharing System Agricultural Lending (NIRSAL). The whole idea of NIRSAL is to reduce risk of lending by banks to the agricultural sector,” the minister said.
According to Dr. Adesina, last year, commercial banks lent a total of N3.5 billion to the Growth Enhancement Programme, GES, of the federal government; apart from the same amount given to fertilizer and seed companies. “This year it’s almost close to N20 billion,” he added.
The minister listed the banks that have done so well in this regard to include, Access Bank, Diamond Bank, Enterprise Bank, FCMB Bank, Mainstreet Bank, Sterling Bank, Unity Bank, Zenith Bank and the Bank of Agriculture. “So as we continue to fix the value chain, we continue to reduce the risk of lending by banks,” he said.
[/b]Last year, the ministry started a programme where 1.5 million farmers were registered. Looking at it from the average size of household, this means 7 million persons were impacted by the programme. “For this year, just this rainy season, we have already reached 4.2 million farmers directly with the electronic wallet scheme,” he stated.
The minister pointed out that since agriculture is no longer a development activity but business, lending by commercials banks has increased significantly and investment in the sector is also increasing because in the last 18 months, the sector has witnessed $4 billion worth of investment. “The future billionaires of Nigeria will come from the agricultural sector,” he said.
The Central Bank Governor, Sanusi Lamido Sanusi, represented by the Deputy Governor, Financial System Stability, Mr. Kingsley Moghalu, said the partnership between the central bank and the ministry produced NIRSAL. He stated that the partnership has brought the two institutions; one responsible for the financial system, the other responsible for agriculture, to work together to make a difference.
Moghalu said the central bank reforms are based on four pillars: the first pillar is to enhance the quality of banks; the second pillar is to establish financial stability; third is to facilitate the evolution of a healthy financial system mostly through reforms in the payment system and a new banking model; and the fourth pillar is to encourage banks to lend to the real economy, and that is where agriculture comes in.
“We believe that we are the central bank of a developing country, and so it is not enough to look at monetary policy, it is not enough to just work on banking supervision, we have to make sure, as the guardian of the financial system, that the institutions we supervise make their contributions to the economy of Nigeria becoming a solid, sound economy that is not based on rent and rent-seeking, but based on real production of food, industrial manufacturing, agro processing and so on, and that is where we are going,” Moghalu stated.
He said what the central bank was doing in this regard was to de-risk lending to agriculture because what has kept banks from lending to agriculture is the ‘fear factor’, and so if the apex bank could de-risk the whole process, lending can proceed on commercial basis. He said NIRSAL as a different approach to development finance, is market-based.
Other bank executives at the occasion shared their different experiences in lending to farmers in a section moderated by the Permanent Secretary of the ministry, Mrs. Ibukun Odusote.
Mrs. Faith Tuedor-Matthews, Group Managing Director, Mainstreet Bank said they have supported the Agriculture Transformation Agenda from the onset. ‘Agriculture is good business; our experience has shown indeed it is good for business. Of the total N20 billion on the GES, we have committed N10 billion as an institution, which is 50 percent to this programme,’ she said.
The group managing director said the bank has developed a strategy which was working for them because they believe that supporting agriculture is about creating jobs, wealth and food security for the country.
Mrs.Tuedor-Matthews further said that the collection from the proceeds of the sale of fertilizer has gone well, adding that all the agro dealers have made their payments. She commended the agro dealers, and the ministry with a hope to double lending as the process gets more efficient.
Abubakar Musa from Enterprise Bank, however, noted that the bank had some challenges lending to the GES programme this year, which according to him, was purely a relationship issues. He said the issues led to the coming together of group of banks that called themselves the GES Bankers’ Forum, where they were able to articulate their concerns to the ministry.
Representatives of other banks such as Unity Bank, Bank of Agriculture and Zenith Bank lauded the programmes of the Federal Ministry of Agriculture and Rural Development in positioning agriculture as business, which banks have now keyed into. They agreed to commit more resources into the sector with a view to creating more jobs, wealth and food security for the country in order to meet the targeted 3.5 million jobs for Nigerians by 2015.

http://dailytrust.info/index.php/agriculture/11056-minister-lauds-banks-on-agric-financing-says-lending-rose-from-n3-5bn-to-n20bn


B4 now of course, Commercial Banks hardly lend money to those in Agriculture. Last year's figure of #3.5bn was by far the largest sum they have ever directed to the Sector. This year that is now over #20bn; with pledges by the Banker's Committee to further increase it next year and going forward.

And

[size=16]FRESH....[/size]

[size=18]Nigeria’s economy largest in Africa as rebasing boosts GDP to $405bn[/size]

December 19, 2013 | Filed under: main story | Author: PATRICK ATUANYA

In about three weeks from now, when the National Bureau of Statistics (NBS) releases the rebased Gross Domestic Product (GDP) it will show that Nigeria has overtaken South Africa as Africa’s largest economy, which will have great economic and geopolitical implications.

This is according to emerging markets focused investment banking firm Renaissance Capital, whose team of analysts were in Abuja, over the weekend.

“We are revising up our estimate of Nigeria’s GDP by 53 percent. The NBS has nearly completed its work, and our new estimate is that a 45 percent to 60 percent uplift is likely, and we are taking 53 percent as the mid-point figure. We expect the data in January,” said Renaissance Capital analysts led by Charles Robertson, its global chief economist and head of macro strategy, in a research report released yesterday (Dec 18).

“This means Nigeria, at $405 bn in 2013 would be the largest economy in Africa, ahead of South Africa at around $370 bn.”

Other impacts of the rebasing include the possible reduction of growth rates to 5 – 6 percent from 6 – 7 percent, and an increase in GDP per capita to $2,400 from around $1,700, in essence moving Nigeria into middle income economy territory.

“Sectors that may show the biggest upward revision range from Nollywood to IT and telecoms, while we think agriculture will shrink from around 40 percent of GDP to 25 – 30 percent of GDP,” said Robertson.

The rebasing will show public debt shrinking to 13 percent of GDP from 20 percent of GDP. Public external debt would be below 2 percent of GDP, while the current account surplus may still be 5 percent of GDP which will leave the sovereign in a good position to borrow if needed.

According to Rencap “In a Fed tapering world, these revisions make Nigeria look good, but credit rating upgrades (Ba3/BB-) are likely to be constrained by the most competitive presidential elections Nigeria will have seen since democracy returned in the 1990s.”

The NBS is seeking to change the calculations of Nigeria’s GDP, using a new base year of 2010 to give a better indication of the size and composition of its economy.

Most governments overhaul GDP calculations every few years to reflect changes in output and consumption, such as telecoms, financial services and internet usage, but Nigeria has not done so since 1990 (about 23 years) suggesting that the previous GDP framework underestimated economic activity.

The numbers will have new implications for investors and the geopolitics of Nigeria’s place in Africa.

“We would be very surprised if recent and pending investment decisions are taken on the basis of the 1990 national accounts,” said FBN capital research analysts led by Gregory Kronsten, in a note released in August.

“The new GDP series will however be tracked by potential investors, such as suppliers of consumer goods and services,” Kronsten said.

Nigeria already hosts the second largest debt and stock markets in Africa, behind South Africa.

Its stock market is valued at $77 billion, while the secondary market bond trading volumes, ”certainly exceed those of Egypt and Morocco and represent around 20 percent of South Africa’s turnover,” according to Samir Gadio, an emerging markets strategist, at Standard Bank, in London.

Overall – Nigeria’s debt, budget and current account ratios will look among the best in Africa and in the emerging markets (EM), once the rebased figures are released, notes Robertson.

“We like Nigeria in the coming quarter – though we see domestic bond yields up a little, at around 13.5 percent on average. Nigeria is going to rise from 14 percent of MSCI frontier markets to around 20 percent in May 2014 which could attract equity investors wanting exposure to frontiers and/or Africa. We expect the NGN to remain at 160/$ until June 2014. But we are still nervous for the second half of 2014,” Robertson said.

By: PATRICK ATUANYA
Businessday 12/19/2013

I invite everybody to go tru these threads plz:

https://www.nairaland.com/1539312/experts-hail-nigerias-soaring-nonoil

[quote author=Omo_Tier1]Is it any surprise that even in the times of yuletide your insanity knows no bound? You are too intellectually deficient not to have realized that the GDP of Nigeria grew at accelerated rate from 1999 to 2007 and I am sure your Jonathan was still learning how to steal from local government council allocation then.

That you even thought Nigeria's economy in 1999 was a mere $59bn shows how innately daft you are.

Nigeria today is still reaping the painful economic reforms Obasanjo initiated that brought about liberalization of the economy. The GSM alone brought about creation of millions of jobs and so many Nigerians just by selling re-charge cards made fortunes and improved their lives.

So don't be so daft to attribute the success of the dogged spirit of Nigerians to your puppet corrupt master in aso rock.[/quote]Nigeria is now d LARGEST ECONOMY in Africa under President Goodluck Jonathan. The Economy increased from around $59bn in 1999 to more than $400bn in 2013 (ie it Expanded about 8 times in a mere 14yr period) unda his Party's leadership; And the growth and diversification of d Economy is still on apace.

Now DIE!!...

MODS, abi na SUPERMODS, when are just guys going to consider this thread na :

https://www.nairaland.com/1558518/videos-15-new-rice-mills

PHIPEX: That we are growing is not in doubt but anyone who says we are not developing is not truthful. Imagine where we were in 1999 and compare it to where we are today. My only problem is that the development side is too slow for my liking but certainly, we have made so much progress. By the way, has anyone noticed the sudden drop in complains about bad roads across the country especially in this travelling season?

Smone just asked an EXTREMELY Remarkable question/observation,and only 2 persons have acknowledged it:

By the way, has anyone noticed the sudden drop in complains about bad roads across the country especially in this travelling season?

Try to answer the question, if not openly then within. The Answer to these kinds of questions would led you to many other truths.....

PHIPEX: That we are growing is not in doubt but anyone who says we are not developing is not truthful. Imagine where we were in 1999 and compare it to where we are today. My only problem is that the development side is too slow for my liking but certainly, we have made so much progress. By the way, has anyone noticed the sudden drop in complains about bad roads across the country especially in this travelling season?

Very, very Good Observation, @highlighted....#bullseye

theoctopus: Anyone notice how all his projects are 15 billion? hmmmmm! This Okorocha is a trader!

And 15 billion for City Gates in Imo state! Okorocha don finish Imo people walahi!

My Bruda, na wa...

Will do so later tonight. Thnk you, @OP...

Did I just read that he wants to build 'City Gate' for #15bn? Abi, is my eyes deceiving me? Shebi, when it was rumoured that d FG was going to build a 'City Gate' in Abuja for #7billion, all d pathetic APC e-rats went into overdrive. Now, na one of dier own: SILENCE..#bladdiHYPOCRITES