Ultron12345's Posts
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The Lebanese are trooping into Nigeria and Africa in search of opportunity https://www.nairaland.com/6285973/lebanese-flee-crisis-home-seek While our people go in the reverse direction to become sex-slaves ![]() |
Financial Times: Nigeria’s richest ramp up investment in Africa’s biggest economy as foreigners stay away https://www.ft.com/content/c5b98699-a5bb-49b2-8436-4a7edf314b87 |
Who are these ones saying OPEC quotas are for only exports? They are for everything oo, that's why they're called production quotas, not export quotas. Allowing Nigeria to produce an extra 650K barrels for domestic use will affect global oil market in the same way if it were for export purposes. As 650K barrels is added here for "domestic use", the 650K barrels worth of petroleum product that Nigeria was previously importing from other countries will still be in the global market looking for buyers ( same increased supply in the market). So the impact will be the same. Increased production for local use will reduce imports. Those products that were supposed to be imported will be pushed back into the market, increasing global supply and reducing prices. The only way to counter such impact is if Nigeria or other non-oil producing countries experience growth in demand for oil. So that that increased demand can soak up the price distortions that'll be caused by Nigerian pushing back an extra 650K barrels of supply into global markets |
Lazyyouth4u:Hmmm... This is a good point you raised oo. Nigeria wouldn't be able to increase capacity just like that because of OPEC quotas. Such increase will even cause a fall in prices. Well, I think Nigeria should go ahead and ramp up production. If opec wants production cuts, those cuts should be targeted at the richer members like Saudi Arabia and UAE. Saudi Arabia has 30M people with quota of 11MBPD while Nigeria with 200M people is given quota of 1.9MBPD. The UAE with 9M people has production of 3.5MBPD. Which kain rubbish be that? Hopefully, another war breaks out in the Middle East soon so it can affects some oil production facilities there, reducing output from the region. Let us also pray against peace in Libya, before those ones increasing production. Another problem is this Biden. He will now go and make peace with Iran, remove all sanctions, and before you know it, Iranian oil is on the market. Hopefully, the Iranians refuse to return to the nuclear deal as a sign of respect to the murdered General. |
Lazyyouth4u:How am I wrong? All those interested got licenses from the government to build but only dangote had what it takes to complete the project. Is it dangote's fault that the rest are poor incompetent slackers that can't reach a deal with their bankers? In few years, the story will change to "government gave license to only dangote and blocked others from building in order to give him monopoly" Ability to secure financing for projects is a key part of being an astute businessman, and this is evidence that that is clearly what Alhaji is, an astute businessman. Is it his fault that others didn't have what it takes to secure financing? Or will you people now say he used obasanjo and his government connections to block banks from lending to other refinery licensees? I made that comment so that when the refinery starts working, you people won't say government gave monopoly, government gave only him refinery license, or government destroyed igbo-man refinery for dangote to succeed. Or that dangote used government connections to sink the ship carrying equipment for his competitor's refinery ![]() |
ahiboilandgas:Very good news. The impact of this project on the economy will be massive. This is how countries are taken forward, by astute capitalists and businessmen, not some lazy people sitting down all day shouting Buhari. But I'm still wondering how this fuel issue will work out when the refinery is completed. Will Alhaji sell at N140? or will government pay subsidy to him? Because why sell cheaply in Nigeria when he can export to our West African neighbours are sell at about N400 per litre. |
TransAtlanticEx:Very true fact. But watch out oo, the Rwanda fanboys are coming for your neck oo ![]() |
TransAtlanticEx:Lol His Ivory Coast hype is even manageable sef. Is it not on this same forum sometime back that someone mentioned to me that Rwandans are richer and have far better purchasing power than Nigerians. Go to travel section and see wonders. Rwanda that is poorer than Haiti. |
TransAtlanticEx:God bless you I've noticed that even though your responses are always uncouth and blunt, there's always a huge amount of sense and wisdom in them. I was about to reply to that silly comment about Dangote until I saw you are already doing justice to it. For decades, the Nigerian government has been begging people to build refineries. Nobody gree build. They're all giving silly excuses like poor roads, lack of power etc. Only Dangote has taken the risk to build one. Others are watching. When he's done and the project is successful, some fools will come out of their dirty shells and be shouting monopoly, government support, fulanization. As if Alhaji ever stopped them or their useless parents from building cement factories or oil refineries. |
Wonderful news coming in from my bank. So happy for them. Best bank ever ![]() https://nairametrics.com/2020/11/20/access-bank-plc-posts-n102-3-billion-profit-in-9m-2020-up-by-15-7-yoy/ Where are those that were boycotting them on twitter? By the way, I advice everyone to follow up Stears Business ( www.stearsng.com ), the Nigerian version of The Economist and Bloomberg. |
DexterousOne:China may not be a developed country yet, but it is a rapidly developing one. |
TransAtlanticEx:I just tire for am oo No matter how one wants to look at it, taxes charged in Nigeria are one of the least in the world. Taxes eventually paid are much less, plus a lot of subsidies on top like you said. The maximum 24% he's even talking about is still among the least on that list he put up there. That is why Ghana with 30M people and a $60B economy easily funds a $14B annual budget (that is $466 per citizen, almost 5x more than Nigeria's figure as we'll see next) while Nigeria with 200M people and an economy of almost $500B has to struggle and enter neck-deep into debt to fund a measly $25B budget ($125 per citizen, out of which we will still pay numerous subsidies wihich Ghana doesn't pay with its $466 per citizen). |
Aquilapriscilla:What exactly is wrong with a secular school? A secular school is a school that does not identify with any religion, unlike Islamic schools or catholic schools that clearly identify with different religions. There are many secular schools in Nigeria already. What's bad there? What's bad in teaching Chinese curriculum to kids of Chinese expatriates in Nigeria. Just as American, French, British kids have access to their home country curricula in Nigeria, why can't Chinese kids have same? If I am president, there will be rapid development, but I will also be a no-nonsense abacha-like president in terms of discipline. Plenty of Nigerians will run away from the country not because of lack of development but because they'll be severely and thoroughly dealt with if they try that their lawless attitude that they're used to. You think I will build road as president then you will go and litter it and go scot free. Or after putting barriers between road and building pedestrian bridges, you will abandon the bridges and destroy the barriers to you can cross the road "quickly". I will deal with such people ruthlessly. Nigerians will become wealthy and enjoy development and good social amenities but anyone who wants show that their "Nigeria character" will be beaten back into line. Go and hang wire to tap light or bypass meter under my presidency and see what will happen. You will regret the day you were born. |
Lol... Some people here are really doubting this fact that nigerians pay little to no tax. Funny how they always jump when oyinbo says 90% of Nigerians are living in poverty, but when they say our taxation rate is one of the lowest in the world, they start doubting. People will only believe what they want to hear sha. Anyone honest person who has lived abroad will tell you Nigerians don't pay tax. Whatever tax you think you're paying here is nothing compared to other countries, even our African neighbours. I have done trading in Nigeria and in some of our neighboring ecowas countries, and I can tell you that what you'll pay as tax plus union fees in Nigeria is just about one-third of what you'll pay as only tax in other countries, before you'll start adding union fees. Among the ecowas countries I've done business in, Chad seems to be the charge the least taxes yet it's still more expensive than what Nigeria charges. Ghana is the most expensive. No wonder they have tax to GDP at over 20%. Even the tax sef, let's take the tiny percentage of Nigerians that pay it. What is the tax rare? Is it not about 6 abi 7% for a start. By the time you deduct all the allowances and rest deductibles, the effective rate will be 1 or 2%. Abi is it not in this country where I've seen civil servant payslips where tax will be N300. Same thing reflects in our VAT. From 5%, it went up to 7.5%. Nigerians were complaining even when it's still among the least in the world and even amongst our neighbors. Cameroon is 19.25%. Niger is 19%. Benin, Chad, Togo are 18%. Someone was even up there saying almost everyone both in the formal and informal sector currently contributes to NHIS. Seems many people on this thread don't actually live in Nigeria. Well sha, saying something is expensive is relative. Based on our experience, we feel fuel of N160 is expensive, even when it is about N400 in countries like Niger and Ghana, both with lower minimum wages than Nigeria. |
RayRay06677:Lol... Watch how they will gather and start giving silly explanations about how those people in the picture are living better lives than Dangote in Nigeria |
RayRay06677:Lol... Watch how they will gather here saying silly things about how those people in the picture are living far better lives than Dangote in Nigeria |
iboboyswag:Exactly. Even the chinese system seems to have solved this problem and we are seeing the results today. One can't believe it isn't right for just any random person to decide who pilots a plane, but believe it's right for just any random person to decide who pilots the affairs of society. President should emerge based on performance and not mere popularity. Leaders should be able to plan for Te next generation and not just the next election. We can try an adaptation of the Chinese system. Let everyone interested write exams testing general knowledge, economics, administration, science, business etc . Only the top 5% should be admitted into the civil service. We don't want stupid people who believe the president of Nigeria can increase global oil prices or make $1 equal to N1. Those that succeed in entering the civil service will then be given streets or small sections of people to administer. After a given period of time, performance is evaluated based on crime rate, socioeconomic indices, economic growth etc. Those that fail are kicked out and those that pass will be sent to administer villages. After a period of time, performance is evaluated again, based on economic growth and all sorts of socioeconomic factors. Those who fail get kicked out and those who pass move on. From village, to ward, to local government, to another local government, to senatorial district, to another senatorial district, and another senatorial district, then to state, to another state, and another state, then geopolitical zones, to another geopolitical zone, to another geopolitical zones. All these while, only those who pass the strictest and toughest evaluations of performance move on while those that fail are kicked out. Then to the Senate and then to a 20-man executive committee and then to a 7-man presidential committee. Tell me how you won't get good leaders like this. You'll get good, exceptional and experienced leaders. Not people who will come in and use first tenure to make all sorts of silly mistakes with the excuse that "we are new to the job" The presidential committee made up of the 7 best of best who have scaled through decades of the toughest and strictest performance evaluations, with decades of experience, who will have managed total populations and economies larger than many countries, will make decisions together. From here, a leader is selected who will work with the remainng 6 committee members. The country should be run like a company, based on merit. We all know not just anyone can run a $1B company but we still think just any random person can run a $500B economy like Nigeria. Just as a CEO has to rise through the ranks from the bottom to top based on performance, so too should local government chairman, governor's, presidents etc |
ahiboilandgas:Is it MTN's duty to pay for your healthcare? MTN generates about 1.2 trillion annually. 10% of that is 120B. Airtel does about 450B. Assuming glo earns 1 trillion. Together, 10% is about 265B. Much less than the current health budget. Tax is okay. Set up a database for all Nigerians and tax them. 7% healthcare tax on all salaries to get something similar to UK's NHS. Assuming 80M economically active Nigerians earn 30K monthly ON AVERAGE (in reality, the figure is much higher). 7% tax on that would generate over 2 trillion Naira annually for just healthcare. In reality, that figure might go up to 4 trillion. |
TransAtlanticEx:God bless you. All this is exactly what the DSS is supposed to be doing, and not these petty jobs politicians use to bring them down so low. Those protests should have been infiltrated right from the beginning. Undercover DSS agents could have done that job. If you try to make everyone happy, you won't get anywhere. That is one reason why China has developed so quickly, they do what needs to be done, they no dey look anybody face. Take Obasanjo and the telecoms industry for example. If he gave into the oshiomole-led labour union protests back then against privatizing NITEL, we would probably still be complaining about telecoms today the same way we complain of electricity. Democracy does not work. If you are flying in an airplane, how would you want the pilot to be selected? By experts in the aviation industry or by just any random set of people. Of course you'll pick the former over the latter. Why then do we all just any random set of people select who leads society. How can any random set of people select any random person to manage an economy worth hundreds of millions of dollars? Even a $1M revenue per year company won't be that reckless. It will last last lead to demagogury. Telling the masses what they want to hear. . We need to increase the requirements needed to vote in our elections. An illiterate cannot decide for society. If a doctor and a bar owner are competing elections for example. The bar owner will say "don't vote for the doctor. He gives bitter liquids to drink, painful injections, causes you suffering, tells you not to eat and drink whatever you want to eat and drink. Vote for me and we will have massive feasts everyday". How do you expect the doctor to reply to this "I did all those things in order to help you". Imagine the outrage such response would cause, even though he's actually right. They'll eventually Elect. the bar owner, and then all get sick and die. But if only sensible people were allowed to vote, they'll have seen through the sugar coated promises of the bar owner and gone for the doctor. Majority of the time, the masses so not know what is good for them. So therefore, those who know what is good must do it by force. That is how some foolish Nigerians were celebrating Buharis promise to make N1=$1. Sensible people would have known it wasn't sustainably possible, and even if it was, it won't actually be a good thing. But no, the masses were clapping and cheering. Anyone who tries to talk about the viability of such promise would be called enemy of progress. |
ojesymsym:Which ASUU? ASUU that I will break up in the first week if I am president. How can employees be dictating to their employers? If they don't like their employers policies, then they can resign. Do they try this rubbish at private universities? Give a live broadcast Tell all ASUU members to report back to work the next Monday. Give all ASUU executives at the national, state, and university levels 48hrs to publicly resign from their ASUU positions and denounce the union. Tell them that those that fail to report back to work (without good reason) and executives that fail to resign will be sacked and sanctioned in the following ways. Passports seized or rendered invalid. Their bank accounts will be frozen. They will be forever blacklisted from working at any government owned institution in Nigeria, be it federal or state. Any state that goes against this and employs any blacklisted staff will be made to forfeit their monthly allocation. The blacklist will also extend to the private sector. Any private entity that employs them will be sanctioned. If you as a bank employment then, then get ready to say goodbye to all government accounts and funds in your bank. If you as a construction company or auditing firm hire them, get then say goodbye to government contracts. Not only will government business be taken away from such private firms, government business will also be taken away from other private firms that patronize these sanctioned private firms. The DSS can even get involved to make ASUU top executives start "disappearing" and getting "kidnapped by unknown gunmen" |
ahiboilandgas:My opinion on this is that the only the government should be funding is basic education (primary and secondary schools only. Universities must be paid for, though a limited amount of scholarships should be available for extremely intelligent students to attend them. I rather have just 10 excellently trained engineers than 1000 useless dumb ones), healthcare (paid for through a special healthcare tax charged on all income) , defence/security and internal roads. Every other thing should be given off to the private sector, airports, airlines, interstate expressways, water supply, power supply, telecoms, should all be handled by the private sector. |
maishai:Lol It will be standard. Fully accredited by the necessary bodies in the country whose curriculum is taught. Instead of sending your little children to go and be lonely in faraway US, or even Lagos, your child can get his/her US high school diploma right here, at home, in Enugu or Kano. Same with other countries. IB, Swiss, American, British, Canadian. Maybe even Australian, lol. These ones will majorly be for nigerians. Then indian international schools (especially in Ogun) for the Indian community in Nigeria. Maybe even Chinese International Schools complete with CCP propaganda for Chinese kids in Nigeria since they are becoming more plentiful down here. One can even expand to our francophone neighbours with French international schools fully accredited by necessarily authorities in France. This international school business is a thriving sector in the Middle East and Asia. Look up companies like GEMS education, Nord Anglia, Cognita. Imagine we have a Nigerian multinational education company providing international education across Africa. Partnering with a religious institutionsl will drive away kids (potential customers) from other religions. It can be secular. Most of such schools in Lagos and Abuja are not church affiliated |
maishai:Yes, I thought of the culture too. I thought that most people ready to pay UK or US tuition for their kids won't mind paying about 2M for the child to school at an American international school in Nigeria and graduate with a US high school diploma, here in Nigeria. Yes schooling in the US, in Nigeria. If people in the state send their kids to study abroad, then they will be fine with premium education in Nigeria. Lol... One will have to take into consideration the economics of the state. You can charge premium like 3-4M in Kano and Kaduna but in Jigawa and Ebonyi, one might have to reduce fees to 1M. Based on my makeshift findings, Ebonyi was the only south-eastern state that such premium schools won't do too well. I don't have much info on Jigawa so I can't speak on it, but I've recently found out that most of these poor forgotten northern states actually have a lot of wealthy people. I was particularly shocked with that of Yola (seems many of the wealthy in maiduguri (which used to be a city that can compete head-on with Kano) fled to Yola because of the insurgency) |
TransAtlanticEx:Abeokuta, Ibadan, Uyo, Delta, Anambra, Enugu, Kaduna, Ilorin, Minna nko? I know one school charging about 1.5M in adamawa state and it's full to the brim. There's another more expensive one in Jos. Isn't Atiku's expensive american university of Nigeria in adamawa also getting heavy patronage? Don't many outside Lagos and Abuja still afford to send their children to UK and US universities I think there are wealthy people who can afford such in most states capitals. Even many of those who attend such schools in Lagos and Abuja come in from neighbouring states. The reason I'm thinking outside Lagos, Abuja and PH, is that I believe the market there is already or almost saturated. In fact, most of my successful businesses today have been built based on avoiding the over-saturated and over-competitive Lagos market and focusing on other states that are usually overlooked but still have a lot to offer. I rather be the biggest seller of a product in Edo than being just another small seller in Lagos. Plus, costs outside Lagos and Abuja are less. The money one will use to build a world class school to completion in places like Ibadan or Minna or Illorin will not even be enough to purchase half of the needed land in places like Lagos (Victoria Island, Ikoyi, Lekki) and Abuja (Asokoro, Maitama) |
Biko, I was recently thinking about international school business. From the little research I've done, 80% of Nigerian state capitals (apart from Lagos and Abuja) have enough wealthy people to sustain at least, 2 schools, each with 1000-1500 students charging 2.5 to 4 million per annum per student. Can anyone else confirm this? What do you think? In your opinion, how true is it? |
Please oo, I have a question for those with experience in transportation. How much do drivers of 30 ton trailer charge to move goods between Port Harcourt and Abuja? What is the fuel consumption of the average Nigerian 30 ton trailer per km? Will you advice I hire trailers to move my goods or will it be cheaper for me to own my own trailer just for the purpose of moving my goods? (Usually 2-3 trips per week per trailer depending on distance) What do you think is the most cost-effective method of moving HEAVY goods across Nigeria? Anyone aware of anyone or company using barges to transport their goods long distance via inland rivers like Rivers Niger and Benue? Like from onitsha to Niger state through river Niger NB: For the first question, it doesn't necessarily have to between PH and Abuja, any pair of major cities apart from Lagos (as Lagos transportation tends to be super expensive compared to other parts of the country) you're knowledgeable about will do. Must the trucks carry maximum 30 tons sef? What happens if I load them with 40/45 tons? Or I attach 2 trailer-beds to one head? ![]() |
Iogobenz:Lol... No ooo Biko, we don't want anarchy here. Anyone who wants to experience anarchy can go to Libya or Yemen to experience, not here. |
Grupo:I am not pro-buhari or anything. My allegiance is only to Nigeria and what is best for it and not to any individual including buhari. If Buhari does well, I will say it. If he doesn't, I will call him out. And it seems we even agree sef. Is what you said in your third paragraph not what I have been saying since? That they should cool down now, and allow them government a chance to act while dialoging and negotiating with them. If the government still refuses to take meaningful action after a reasonable period of time, then they can return to the streets. You think people getting intoxicated with "power of protest" is a good thing? And you really think such protests can't be hijacked by foreign interests abi, especially with this free flow of funding. It's not my fault that you're not aware of similar instances in history. It has happened before in more unlikely situations and can happen again. |
Iogobenz:Don't mind him. Go and ask the average Libyan if he would prefer to turn back the clock and continue under Gaddafi's rule. They'll say yes. E say no more business as usual.... Lol. Many of them do not know anything about war. They think it is American film and they'll get a chance to act James Bond in real life. These anarchists are been pushed to go on forever. They are getting free breakfast, lunch, dinner and desert, prepared to televise live EPL matches on Saturday at the protest ground with 2000 cans of Heineken (arranged for by one UK-based Nigerian doctor) already ready at Lekki toll gate, as well as Daystar Church service on Sunday, and all this is funded by unknown, untraceable foreigners. And people can't see where this is leading. Since they have refused to be reasonable and dialogue about the reforms the IGP has announced including the Davido led independent panel to be setup to monitor these reforms, the government has to step in now and end this decisively. If they are not ready , then a coup should be in line. Before Nigeria's enemies get the war they want. Many of Nigeria's problems are chickens that we failed to kill when they were chicks. The same way Boko Haram founder was allowed to spread and teach Bin Laden and Al Baghdadi philosophy to children across schools under the guise of freedom of speech, only for the government to act only when he had gathered thousands of followers already. Hopefully, they don't allow this foreign funded unrest to mature into something else. SarsHasEnded |
XiaoLi:The opposite of that mentality is also why Libya is where it is today. |
Iogobenz:Lol... Don't mind them. At least, these protests have proven that buhari is not a tyrant or dictator as they call him. If he was, he'll have dealt with these protests by now with full brute force and nothing will happen. Even if economic sanctions are placed on Nigeria, it is everyone including the protesters that will suffer it. Their UK-based influencers busy fanning the embers of war won't be affected, they'll just laugh and move on with their lives. They should try this rubbish in countries led by real tyrants like their favorite Rwanda and let's see what will happen. By the time these so-called protesters hear the sound of a T-72 tank, they will go home quietly. |



