₦airaland Forum

texazzpete: You're right. An olodo is involved here. Thank God you finally accept that you're an olodo

I'm not going round in circles with you anymore. Just answer the simple question that the RVSG has posed "Is SURE-P being funded with monies from the ECA?"

That is the only answer I seek right now.

You no dey shame say u still dey ask me this kind question at this stage?? Shame no dey catch you?

Una just dey talk for Newspaper report which may or may not be true. So una still dey just believe Nigerian Newspaper hook, line and sinker?.... When d real report comes out, I will comment

Pukkah: Kindly direct me to where Peter Obi said the donations are to support specific R and D or other noble initiatives.

Also note that this is not a grant or other forms of non-cash support. Again, what's the stage of development of the state or country that wants to give out cash to private businesses?

Does this action make sense in capitalism? Why should government use public capital to strengthen private businesses?

This is the reason gave by Obi:



You may also provide references of this type of model in those 'Most of d top Schools in d USA' which you stated that they receive 'huge support' from the government.

Will you keep quiet and stop asking me silly questns... I bliv that Govt shld fund Research and Development, as well as maybe Specific interventions, in Every institution of higher learning, for more than 10yrs subject to the limit of Govt's available funds of course. It has always been my belief, and has nothing to do with this particular Anambra case (I do not even know what Gov Obi intended d donated Fund to be used for sef). Even while condemning dat aspect of d ASUU Agreement few weeks ago that forced d FG to practicali take over d funding of State Univs, I made a clear exception to funding specific to Research or other Interventions (for instance, I hv always supported TETFund's interventions in State Univs)... Even in d US like I previously said, Harvard and many of those Great Univs you hear about are Private Schools, yet Govt (tru various Agencies and Special Funds like NASA, Navy, Airforce, Cancer Fund, Nanotechnology Fund, etc) is one of d highest, if not d highest in sm fields, contributor to Research and Development in many of those Univs and others in the country. Lets not allow Sillly Sentiments or Crowd mentality blind us abeg. You may want to question what area and why Gov Obi intended in releasing these interventions/donations (I do too) but don't questn the very essence of Govt's funding of (or, even nonfinancial assistance to) Universities, Public or Private, only just cos sm of them are 'Private Businesses'. Knowledge is Universal

There is NOTHING wrong in Govt Supporting Private Univs as long as it is geared towards such fields as Research and Development. Knowledge is neither Private nor Public; it is Universal. Most of d top Schools in d USA for instance are Private, and yet they receive huge Govt Support/Interventions...

[quote author=enigma_otr]It should be glaring to anyone that Mrs Ngozi goofed big time by telling Nigerians, that monies from the ECA was used in funding SURE-P.
As long as Nigerians still buy fuel, the SURE-P fund must not be financed from another account.
It has nothing to do with the budget, oil theft, or the price of crude oil. If the SURE-P has to be funded from another source, then the FG and its agencies have questions to answer.
In fact, if it's true that part of the $5b withdrawn from the ECA was used in financing the SURE-P, I'm demanding a refund of the extra N32 I've spent so far on the purchase of fuel.
But seriously, we need answers to those questions from Gov. Amaechi. I could've asked the same questions myself.[/quote]Dear God!! This one is even d worst of them all. When I call sm people OLODO on NL, sm persons wud think it is an insult. But it is not. Its just what they are- OLODOs.

Medieval IGNORAMUS you do not pay Govt any money when you buy fuel; it is d Govt that 'pays' you tru d Oil Marketer tru whom you bought d fuel. That is why it is called a SUBSIDY for Goodnews sake!!! It is d Govt that Subsidizes you; not you d Govt. Every single time you buy fuel and pay #97 per litre, d Govt pays an extra #44 on top of what you paid to make it an average of about #141 which is d truer landing and distribution cost of fuel per litre. When you were paying #65 per litre, d Govt was paying more than #70 as subsidy for you. This Subsidy #X was (always been) paid by Govt from its FEDERATION ACCOUNT ( the ECA been part of its Constituent Accounts), the ONLY difference now that d Govt had partially removed subsidy is that after d Govt withdraws d #X from d FEDERATION ACCOUNT (inclusive of d ECA) it pays #44 per litre subsidy to d Oil marketers and then sets aside d #32 differential (which it wud hv had to still pay to d Oil Marketers) as SURE-P in order to fund Special Infrastructural and Social Projects/Programmes. That is the so-called 'savings' you hear about, and which yr OLODO brother @texpazette's tiny brain cud not understand .

Jeez!! This JIOT hv finali forced me to take my time to explain this. Just reali wanted to keep touting the OLODOs ad infinitum. 'Govt shld refund my #32' indeed...

Orlando Owoh: No, your paymaster needs to drop you asap because you're the worst of all the e-warriors supporting him. It sucks to be you.

Seun, where is the Fumigate na?? High Concentration. Too many e-Insects with tiny brains around, Biko...

eGuerrilla: If it hurts you and your co-traveling goons that revelations like this bubble to the surface every so often, as we also witnessed with those secondhand BMWs, stay away from the politics section of NL. Nigerians have every right to be informed about decisions which ultimately affects them, and no amount of body contortions on your part can negate the truth.

If you feel comfortable dressing mutton up as lamb, that's your prerogative.

Why is this Conbulated IJIOT quoting me?? Did I call yr name? Or, are you an 'Online Gorillaa'??.. Take ya time o

awodman: What is wrong with starting with what you have at the moment?...the bolded above shows clearly that new aircrafts will be added to the fleet come March 2014..then why exactly the hue and cry?...we all know aircrafts are not bought off shelf but pre-ordered...Pls our Journalists should spare us this idiotic sensationalisms

They can't. Cos there are always peeps, like online gorillaas, who wud always indulge them. So why stop??

Religious Intolerance is Dispicable for ANY reason. And should be Condemned.

Orlando Owoh: His resignation is overdue. How can NNPC deny the SURE-P the fund it needs to carry out its duties? If had stayed longer the failure of the SURE-P won't be blamed on the Presidency but Kolade.

Hmmm ..... Seun reali needs to Fumigate this forum...

pullyacap: Resident Spin Doctor for Team GEJ, can you in all honesty say that those vultures and devils you are quick to mouth off are not the same people that pays your fees? Because a cursory look at everything SURE-P is from the beginning of time spells just one thing SURE-PIT!

SURE-P was hurriedly concocted together to bamboozle us into giving the GEJ govt a snippet of hope and believability when he knew that Nigerians aint gonna take the proposed jerk-up in fuel price in good faith. After all said and done SURE-P is a failed project owing to the fact that all it was enumerated to intervene against never came true. The Govt who promised to provide palliatives and critical infrastructure and tacitly failed to do so is the real DEVIL and carcass eating VULTURE

.

Sincere 9gerian: The vultures and devils have chased yet another good and credible Nigerian out of govt with their relentless attacks, propaganda and rumours. And all these Just because some people dont like the face of the president or where he comes from?

Anyway, I wish Dr Christopher Kolade many more years of good and sound health

My 1st reaction on reading d Article, too... Anyways, all d best to Dr. Kolade

kel4soft: Put an Ijaw man? We are talking of 500bn naira unaccountable for. If an Ijaw man is given the platform. Eh eh.. Dat figure na childs wey go carry wings. We better look at the savings of the Sure-P funds from 2012, and ask where has the money gone to? Since the Minister of Finance says, the ECA has been funding the SURE-P. Then, where is the saved SURE-P funds. I hope the retired man can please make a little explanation before he finally retires.

OLODO. Which 'saved' SURE-P money?? Many of you IGNORAMUSES smhow believe that there is a fund/set of money smwhere and outside the Govt, from which Govt is 'saving' d #32 'excess' subsidy money after partially removing subsidy last year!! Amazing!.

Subsidy payments has ALWAYS been funded from d FEDERATION ACCOUNT, which has d ECA as part of its Constituent Accounts. The #32 differential that Govt says it is 'saving' after d partial Removal of subsidy IS SIMPLY PART of that same subsidy money that there Govt always took/takes from d Federation Account. The only difference is that it now pays this #32 differential to a SURE-P 'fund' as intervention to fund specific Infrastructural and other social Projects/Programmes, INSTEAD of paying d entire Subsidy sum to Oil marketers as was d case b4 d partial subsidy removal.

I can not understand why people who are so damn IGNORANT of things ie IGNORAMUSES, wud just not keep their mouths SHUT, esp in public..

Oh, almost forgot: where or how did #500bn Subsidy money get 'missing'?? *smdh*

Keneking: Better...the man is 80 years plus...Jonathan dey find person wey him go kill.

Let him appoint an Ijaw man in his place or scrap sure pit.... Nonsense.

Hehehehehe..... Some of una dey reali dey crazz for NL i swear. I don laugh tire

Rad1cal: This dunce has arrived here .

mrvocalprowess: wat do u expect from a man dat eats 1billion yearly? he seems 2 4gt where he started from., -he never had shoes growin!! ban OKada ni, ban keke ko! dis man I tempting me 2 call him *Jonathan*

OLODO.... Stop reading the title of Articles alone; the the entire body along with d title.... Now, go back to the OP and do what I just asked you to do; and tell me if anyone wud be too wrong if they called you a POO....

I agree completely with d OP. The 1st day I saw 'Down' on TV, I went to buy it d next day. Those are d kinds of Music that get to me: one that is at once Deep, yet Accessible; one that wud at once force you into Thoughts, yet still thoroughly appears to your Senses. For me that is what True Art is; A Great Artist is one who truly understands and does this. Brymo is one of such Artist...... How does one get this Album, plz

texazzpete: Now I feel somewhat insulted. All this stringing along and trolling just because this olodo thinks the 'Federation account' is the same thing as the excess Crude Account?!

Just...go. leave here and summon your superiors. I only hope your sponsors are wise enough not to pay you for the last 10 m0r0nic posts you've made.

Ok oh, Bros. At least we are now getting swhere: so we have all now 'Finally' that Subsidy has always been paid from Or in lieu of d Federation Account. Now, we may now ask/answer the following questns: wetin d Federation Account be? That is, what Constituents (or are d Components of) d Federation Account? More specifically, is d ECA part of d Federation Account, from which d Govt has always been/can draw monies to pay such obligations as Subsidy payments #X and FROM WHICH it also 'saves' ie pays the #32 differential which it then sets aside as SURE-P??.... Like I said, we are getting closer to it. Or, are we actuali One is never sure of these things IF an OLODO is involved sha ...

See more Egs of ACN Rigging ways, as documented by a VIDEO Evidence, in the last LGA Election in Edo State:

https://www.nairaland.com/1522992/apc-politicians-plan-cover-up#19638509

https://www.nairaland.com/1522992/apc-politicians-plan-cover-up/1#19694006

sagombugo: I have said it again and again that GEJ is really desperate about 2015 hence his readiness to spend Nigeria into collatteral bankruptcy by massively dolling out cash to anyone and everyone who is willing to help launder his image against 2015

His style is to use the divide and rule tactics!

In as much as the SE and SS is on permanent LOCK DOWN mode for the President yet he still knows that without at least a majority vote from either SW or the North,he will be a goner hence his surreptitous attempt to buy the elites and elders who can be termed as opinion moulders to speak in his favour

The only requirement needed to become a billionaire under GEJ these days is for you to HATE Tinubu and Buhari and Pronto! You will enlisted in the army of those who will benefit from the National largesse

Watch out people! Even on NL here we have started seeing them

All na wash.....National Confab and every other stunts is geared towards 2015

They have threatened that we either vote for them or they sink this country!

One word: sharrrap!!

texazzpete: The only one beating about the bush here is yourself. Why not answer the question everyone here has been asking you? Why is the ECA being used to fund Sure-P as stated by the minister?

I see your alter ego awodman has joined the fray. I don't expect much from him since either you're both the same person or you both uncannily share the same affliction of a low IQ.

Get to the point or get out of here and let your superiors like Sincere9igerian bail you out.

Stop beating about the bush, Ikpeeee...... Where did this ' fixed amount of money the FG was spending per litre on subsidizing fuel' come from??

Once you answer that question, you may immediately help yourself out of your current mystery. I promise...

CLUE For an OLODO: why is that Govs have always wanted the Subsidy payment removed right from OBJ days? Why were they at the front wagon of the vanguard for its total removal last 2 year? Maybe, if the OLODO understands why, he would get an idea where that 'fixed #X Subsidy' ALWAYS came; and maybe, just maybe, he would have an inkling from where the #32 differential 'saved' from the #x would continue to come from. Maybe.

Will this link help the OLODO in this respect: http://www.nanngronline.com/section/general/ngf-criticises-fg-over-deduction-of-oil-subsidy-from-federation-account

texazzpete: BWHAHAHAAHAHA!!!

And there I thought for one second you were trying to tie in the fuel subsidy payments to the ECA. I clearly see now I am being trolled by Nairaland's resident simpleton .

So far, we have established that
1. The FG was spending a fixed amount of money per litre on subsidizing fuel. The FG made several argument for the removal of the fuel subsidy with one of the key points being that the money being used to subsidize fuel could be best served in carrying out developmental projects etc

2. The partial removal of the subsidy freed up N32 per litre for the FG to use in it's developmental agenda, part of which is the SURE-P program.

3. The ECA monies represent the saved revenues from selling oil at higher prices than the budget benchmark prices, it was not used to fund the fuel subsidies and should have absolutely nothing to do with SURE-P

Part of Amaechi's response tackled the rationale for using funds from the FCA to fund SURE-P which should have been wholly funded from the N32 per litre freed up from the partial removal of fuel subsidy.


Your increasingly inane responses are hilarious, but unfortunately seem orchestrated to divert rational discussion of the issues on ground.

Stop beating about the bush, Ikpeeee...... Where did this ' fixed amount of money the FG was spending per litre on subsidizing fuel' come from??

Once you answer that question, you may immediately help yourself out of your current mystery. I promise...

CLUE For an OLODO: why is that Govs have always wanted the Subsidy payment removed right from OBJ days? Why were they at the front wagon of the vanguard for its total removal last 2 year? Maybe, if the OLODO understands why, he would get an idea where that 'fixed #X Subsidy' always came; and maybe, just maybe, he would have an inkling from where the #32 differential 'saved' from the #x would continue to come from. Maybe.

Will this link help the OLODO in this respect: http://www.nanngronline.com/section/general/ngf-criticises-fg-over-deduction-of-oil-subsidy-from-federation-account

muzzol: You seem to have little knowledge of what you are arguing on and it would serve you well to sit back and learn from those who understand such. Any other idea will potray you as dumb. There is a huge difference between FG account and Federation account and i think the basis of RVSG questions are founded on the constitutionality of confusing the two accounts. We need answers to these questions from both NOI and CBN Gov.

So which of the two accounts does the Govt get the #X that it spends as Subsidy?
FG Account Or Federation Account?

.... Infact, scratch that. I do no longer have the time to play games with ya KIDS any further.
Read:

http://allafrica.com/stories/201002221429.html
NOTE: The above link is from early 2010, B4 GEJ became President. Maybe if you understand the import of this, you just might start to get where the monies used to pay subsidies ALWAYS came from.


Now, Goodbye. And quit the habit of attempting to argue with those eho are not your mates, K? Esp, when ya do not know what you are talking about.

texazzpete: Lame apology, but it will suffice.

Fuel Subsidy monies are included in the budget...absolutely nothing to do with the ECA. Anything else?

So where does the 'monies included in the budget', from which Subsidy #X is part of, from?? Ie where does the funds that are used to execute d budget, esp the Subsidy #X, come from??.... Abeg, try to be straight forward this time with d answer. I usuali do not hv much patience for Kids playing around. K?

igala1: Please peeps let's hear the message and not the messenger

Please peep, what 'message' is that??

texazzpete: This doesn't sound like an apology. Let's try again, shall we?

Ok. I 'apologize' to you. Now, answer my question abeg .... I dey wait

Tolexander: he doesn't take ogogoro but kaikai!

The rubbish threat by Reuben Abati is what we call 'shakara olooje'. Besides, all the verbose, logorrhea and gradiloquence haven't proven sahara reporters wrong!

If the presidency really mean't going to the court, they should go and save us the threatening publicity!

Reali? So who is supposed to provide 'proof' for an accusation: the person who made d accusation Or the one against whom the accusation was made?? Ehmm? OLODO.

Oh! And by d way, shebi that SR's article was not wrong? The same report that said Uduaghan and sm other Govs didn't accompany GEJ to London for d Investor's Conference cos 'they were afraid of been arrested by British Authorities', Yet we saw Uduaghan in Pics sitting comfortably in dat same Conference in london with GEJ, ko?? That same SR, abi.

We hear you: SR no dey 'lie'; no bi lie..

[quote author=ndu_chucks]The dumb handlers of Mr. President's, threatened Saharareporters that they will file a lawsuit against Sahara. The threat is worse than stupid! Why would GEJ give Sahara the greatest publicily while exposing the President's yansh publicly, at the same time?

If they file that lawsuit then my name is not Ndu_Chucks (aka Nduka Chukwunenye). Nonsense!![/quote]lol .... Crazze man

Rad1cal: Do you have Catarrh infection in your eyes. ?

Hehehehehehe .....

texazzpete: http://www.sure-p.gov.ng/index.cfm/sure-p-secretariat/policy/introduction/

From the official SURE-P website

The reduction of the fuel subsidy by the Federal Government in January 2012, as a deliberate policy aimed at conserving and maximizing the oil wealth of Nigeria, generated cries of discontent, fear and worry amongst Nigerians which led to a national strike. In response to the cries of Nigerians, the President announced the Subsidy Reinvestment and Empowerment Programme (SURE-P) to reinvest the Federal Government’s share of the savings arising from the reduction of subsidies on petroleum products into programmes and initiatives that would go a long way to ease the pain of subsidy removal and create a better life for Nigerians.

See where the word 'savings' appears? On the official website, no less?
We're going no further with this until you unconditionally apologize for abusing your betters over the 'savings' word that even the SURE-P agency uses liberally.

Now, are you going to man up and apologize?

Now am enjoying this. Hehehehehe.... OK. So d FG after partial subsidy removal currently 'saves' d differential of #32 from d #X it was spending (ie paying) initiali as Subsidy money. Right? We both are in agreement here then. The question that naturali follows is: where did d FG get that original #X it was spending (paying) as Subsidy to Oil marketers, from which this #32 differential was 'saved'??..... Abeg, answer quick. Na dem I go tell you wetin I wan reali tell you. Thanks

Trut: My brother, you just wrote what is in my mind. Seun is a confirmed APC party man (no doubt). Any news that exposes APC or against the South West, that news will die in politics section or other section.
Initially, i have high regard to Nairaland, of which i do refer people i interact with to visit Nairaland frequently for latest news and updates, but when i realize the motive Seun and its Moderators, i changed my mind.

.