maasoap:



The citizens should stop embracing crimes (kidnappings, armed robberies, rituals, terrorism, etc). I meant, what would you guys have the president do when the security were being killed like chickens?

^^^
He and his government should do their jobs.

That's all.

tyup:
ever since I saw the migration of Igbos in their minions to Ile-oluji lately I knew these things are not far from happening

^^^
Lame. Troll harder.

samdaisi:
Our people in east will see him now as their role model with good characters even he might get chieftaincy tittle from this irrational behavior he displayed now, can he show and display the constituency projects he has executed and the names or pictures of the people he has torched their life since he has been represented them in Kaba?somebody that displayed his four wives taking care of them not better than a wifeless than displayed his car market

^^^
This has no relevance to the topic.

Zeesugar:
It is quiet unfortunate that we are experiencing all this mess in a time like this in Nigeria
But this doesn't give any one right to cheap blackmail or demeaning statement towards the government or Religious leaders.
We should all come together to find solutions to our present predicament. If I as an individual becomes security conscious and you do the same the level of insecurity will gradually reduce.
Remember that the Bible encourage that we pray for the peace of Jerusalem" if it was just a burden for the leaders to bear then request for prayer won't have been Mae. As Nigerians pray for the peace of Nigeria
Not cursing the land, or breeding hates
REMEMBER what you sow you will reap. If you sow goodness you will reap goodness, if you sow evil you will reap evil. God bless Nigeria

^^^

lekspot01:


Most policies in Nigeria are reactionary- they are not usually well-thought out even if they have the noblest of intentions. That is the way I see the Okada and keke ban.

With the ban, the Okada economy- the value chain activities surrounding okada and keke- have all been legislated into nothingness. If we had available statistics, we would have realized that the Okada economy is what is sustaining possibly millions of families in Lagos and elsewhere.

So, what is the Okada economy? Someone buys a bike. A mechanic/technician must repair it or service it. There are Okada workshops on almost every street with technicians whose major expertise is repairs of okada and keke. They don't repair cars. An average workshop has about 3 people- the Oga and a minimum of two apprentices who are learning the trade. Right beside the workshop is a vulcanizer. If you ask most vulcanizers around, they will tell you they attend to more bikes than cars daily. Around the Okada mechanic workshop or Okada park is that Mama Put (usually a lady with food inside a wheelbarrow or a contraption because she can't afford a shop) who sells food to the Okada riders. They are her mainstay. Then you have those who sell lubricants and oil to them. There are people who sell the reflector jackets. Graphic designers who write on them. People who sell helmets. And also the person who could afford to buy an Okada or keke just to create an additional stream of income. He gets someone to ride and make daily returns. He has a honest and legitimate business. Most times, these people are the poorest of the poor- barely stringing out a source of livelihood for themselves.

This ban didn't consider the business man who borrowed money to import okada and keke into the country. He did that because there is a market for such. There are companies in Nigeria who import CKD (completely knocked down parts) and assemble them in Nigeria. I know at least 2 assembly plants of okada and keke in Nigeria- with both employing more than 50 employees each. You need to visit the assembly lines to consider the huge investments made and which will now be affected by the ban- because Lagos is the largest market. The employees may lose their jobs. The business man may default on his obligations because some of those Okada and keke were purchased using credit lines. And then there are distributors all over Nigeria. That cycle is affected now.

What about investments made by Gokada, Max and Opay? The millions of dollars? How do we encourage investments when your investment can be wiped away in one swoop by government legislation? How does this help the campaign for ease of doing business?

I agree there are security concerns but this ban may likely aggravate it. You can't legislate human behaviour especially when the source of livelihood is concerned and not get reactions- without you providing palliatives. For those who support the ban based on security concerns, shall we then ban the use of gatemen because some of them have killed their bosses? Shall we then ban drivers because some of them have been involved in cases of kidnap of their Ogas? A knee-jerk reaction is not what is needed. Apart from the great inconvenience to people who patronise them, how will families who depend on these value chain survive? I know someone who graduated from the University of Ibadan and rode okada just to get money to fund his education. It's not all Okada riders that are criminals or illegal aliens. We have just thrown away the baby with the dirty bathwater with this ban.

The government is even missing a major revenue plank. I think the government should have consulted widely- call town hall sessions and speak to the stakeholders on its plan. They should have given a deadline for proper registration and limited those designated areas to the likes of Max, Gokada and Opay. Each rider should have a rider's card with details in a database. Each bike must have a plate number and the riders must not violate traffic rules. They should be trained at least once quarterly.
There is no way a city like Lagos can be served conveniently with bus transportation. More buses on those roads will make traffic worse and not better.

I suggest the ban should be reconsidered and reviewed. Otherwise, the elite who support this ban will no longer be able to sleep deeply. Government is not creating jobs and they should not take away the jobs people have created for themselves.

^^^
Interesting comment. Your description of the Okada economy value chain was particularly detailed.

I have a counter argument outlined below - without necessarily endorsing or opposing the LASG decision personally.

You are right - the Okada economy has created value for the agents operating in that space. The private gain accruing to these agents is high. The problem is that the social cost arising from the activities (of the riders) in the Okada economy is also high - I would go as far as to hypothesize that the social cost exceeds whatever social benefits that this 'new' economy provides.

The okada economy is difficult to regulate. Its riders are simply not going to devote any length of time to reading the highway code and abiding by its provisions. This becomes a problem when these riders who have not read the highway code (and who thus have no business being on the road) DO get on the road - and they ARE on the roads (in their thousands). The inevitable outcome? Road traffic accidents (RTA) - which impose a significant social cost (on everyone else).

Emergency medical treatment costs money - and all too often the taxpayer foots the bill (I have been informed that there is a ward in the orthopaedic hospital in Igbobi that is dedicated to Okada accident victims). Cleaning up after an okada road traffic accident costs money - and again, taxpayers must foot the bill for this public service. And so on. The social costs keep piling up. I am not even going to go into the issue of the social costs of insecurity arising from the okada economy - that's an argument for another day.

You have made some other excellent points that are quite difficult to argue against. My assertion however is simple: the social cost of the okada economy exceeds its social benefits. The okada economy is informal and difficult to tax/regulate and so the gains from that economy flow into private hands (absolutely nothing wrong with that, I must add). The problem is that since its social costs (presumably) far exceed its social benefits, it is far easier to make a compelling argument for that economy to be gutted. That argument has been made by the powers that be - and they have made their decision.

Very funny comments on this thread.

We weren't there and so we can't say what exactly happened. But the truth will eventually come out. It always does.

If I heard that members of the Nigerian Union of Teachers (NUT) arrested someone on the road and tortured him for 'disrespect' my first reaction would be shock and surprise. Teachers simply don't usually do that sort of thing.

If I heard that medical laboratory technicians had arrested someone and taken him to the lab for beating and proper 'discipline', I would also be sceptical. Lab technicians simply don't do that sort of thing.

But there are some Nigerian government workers...some people who call themselves 'staff' who have a longstanding reputation for bestiality. When we hear awful stories about them it is easy to believe such stories - because we know these people and what they stand for. We know what they do.

People who constantly demand respect and try to decree it into existence - instead of actually earning it - through their deeds are not to be trusted. They have nothing to offer.

Jack500:
Jesus Christ!


So this useless cow, dare say the educated Yoruba tribe is primitive, wow!

Lord lugard wherever u are, thunder will locate u, may ur spirit never have rest.

Can this useless contraption break up now?

Amotekun is here to stay.
Miyetti Allah u can go and die.
Buhari u can go and die.
Malam AGF u can and die.


Amotekun Stays.

^^^


Lugard is long dead. Leave him out of this.

Simplyleo:

Unimaginable!!!

A man whose greatest knowledge on earth is how his cows will feed even if it costs lives, describing others as primitive?

These cattle rearing clowns shouldn't take their freedom in the west too far, it will just be the end of the road for them. Una hear me?

^^^


Manufactured outrage.

You're all hat and no cattle. (pun intended).

BOUNTYDOG:


I went directly to my kennel to see if all is okay and alas, I found this big black snake lying under the tree.

For the 1st time in my life I killed a snake,
Not ordinary snake but a big black snake

I would love to know about this particular snake specie and their characteristics .

^^^
I guess you did what you had to do when you found out that the snake could pose a threat to your pets...

Its hard to tell the species from the pictures since you burn't? the snake. From the pictures though, it seems the snake had fangs (from the little I can see) and that points to a venomous snake. If it had yellow patches on its ventral scales then it was most likely a West African forest cobra - they are very widely distributed among most of Nigeria's climatic zones.

For future encounters: if you are left with no option but to kill a venomous snake and you eventually do so, please ensure its head is cut off and buried. Snakes are cold blooded creatures with slow metabolism and the bite reflex is still very much active even after we humans believe the snake is 'dead'. There have been multiple cases of snakes that were crushed and left for dead (except for the head) - only for them to bite unsuspecting people who handled them carelessly in the mistaken belief that they were dead. Don't be a victim please. Avoid handling them (dead or alive) unless you really have to.

As another poster pointed out - please consider the possibility that a snake you confront - with the intention of killing it - may just happen to be a spitting cobra. They may not be as widely distributed in our environment as forest cobras but they are still there! In the tension and drama of an encounter, it is easy to forget this and to assume that as long as we stay out of striking distance, we are safe. Well...even if you are out of range of being bitten, a spitting cobra could easily shoot venom into both your eyes (with 100% accuracy!) from up to 10 feet away! The result? Temporary or permanent blindness. And if the droplets somehow get into your lungs? Death is a real possibility.

Stay safe.

holajeedayy:
No body should blame any military are they not somebody husband....human being ..how will somebody kill full human.,thank God they did kill a civilian ...army should serve them well

^^^
No.

Abalado:
I wish one of the mumus families that are condemning the soldiers acts are one of the 4 naval officers who was killed by the heatless people ,they won't be here saying trash, they would (soldiers) burnt the whole local government self,naso Boko Haram started in 2011 by one mumu leader who said he would make the Mr Dejo(dulland) government ungovernable,, but the mumu Dejo could not do anything before they sent him out of the office, now look at what Nigeria has turned to be.... It is well

^^^
No.

This makes no sense at all.

labisibrass:
You can't expect less after killing four Officers like fowl. They are somebody's father, husband and sons too

^^^
No.

This doesn't make any sense.

This thread na wa.

A country with over 200 million fully certified herpetologists.

I am sorry to disappoint the members of the black mamba club. That snake is an Eastern diamondback rattlesnake.

I know this because I put it there.

Lovely.

Nigeria must confront her demons. There is no other way out.

It is futile trying to run away from yourself. Wherever you run to - you'll meet yourself there.

Oh the irony of it.

Some Nigerian muslims are complaining bitterly about the unconstitutionality of the actions of Adeleke university authorities in this case. But these same people didn't see anything unconstitutional in the fatwa pronounced upon a Nigerian citizen (one Miss Daniels) by Islamic clerics in 2002 - a fatwa Nigerian muslims vowed to carry out.

Some Nigerian muslims have denounced the university authorities for abridging the rights of Mr. Toheeb - and they have called for federal intervention in this matter. But these same muslims see nothing wrong when the Hisbah routinely invades private property to confiscate and destroy alcoholic drinks - drinks legally acquired by non-muslim business men who pay taxes to the federal government.

Some Nigerian muslims to this very day do not see the adoption of sharia law in 2001? by several states in Northern Nigeria as unconstitutional - even though the constitution is crystal clear on the matter of adoption of state religion. And yet the unconstitutionality of Adeleke University's actions towards this student is remarkably clear to them - and must be resisted.

Let's keep up the charade.

DelTel:


Hiding behind keyboard to insult someone's parent is pointer that Pascalville is uncultured, bereft of home training and self-esteem. I have mentioned my family, can Pascalville proudly state his!

Pascalville's miserable life can not be far-fetched after all; completely self-induced as a self-acclaimed Unilag Actuary graduate does not know the meaning and essence of Recapitalization. Half-baked!

^^^
This thread is an opportunity to throw some light on a topic that the majority of Nigerians don't know very much about. It is offensive to me when such threads degenerate into completely unnecessary insults and name calling.

There was a recapitalization of the banking industry some years ago when Soludo was at the Central Bank. As far as I am aware, the government didn't siphon away the capital raised. How does that even happen? Those banks carried out public offers, rights issues, mergers and/or acquisitions to raise their capital base - and the exercise did what it was designed to do. The banks that survived had capital adequacy ratios well above the Basle regulatory minimum. Given this history, it is strange how Pascallville casually reduced the matter of insurance industry recapitalization to "government will siphon the money away".

The insurance industry in Nigeria has underperformed for donkey years. It has been relegated to the role of the poor cousin for far too long - a handful of deposit money banks are contributing far more to the system than the entire insurance industry. People like Pascalville (if he is who he says he is) should be educating the rest of us on what the key issues are - instead of slinging unnecessary insults all over the place.

enawt:

So how do you know all these if you are not into it or have not spent time researching them?

^^^
I did some basic research on these issues - just like I would on any other area I am not familiar with. Not enough to make me an expert, but enough for me to speak on the key issues. If that is what it means to be 'into' an area then I am guilty as charged, Sir.

Pascalville:
are you done... Mr vice chancellor

^^^^
No I am not done, Sir.

Kindly go over the post of the fellow who quoted you. With good reason, he expressed doubt about the truth in your claims of a level of expertise in the arcane wizardry of actuarial science and the underwriting of risk. There is thus a widely held view that you are an imposter, a charlatan and a fraud. But I believe you are entitled to a fair hearing.

Kindly defend yourself, Sir.

Quite a bit of useful info on this thread.

Pascalville:
As an Actuary and Insurer.. i would say Nigeria Like over doing things... The recapitalisation in this corrupt country is bad for the Insurance company because government with siphon those funds.. but on the other hand it is very nice for the insured.. cos Insurance companies just wanna collect but lack the capability of given back.. So the Insured's are safely covered if this happens.. and Insurance can work in Nigeria if only you guys can have the mindset.. Insurance is what keeps an economy up and running... Insurance comes in various varieties.. the most important of all is Health Insurance.. It covers all your Health expenditure.. even surgery.. The most common is NHIS. Now the question is are you insured.. don't you think you need at least an health insurance.. it is not a must it must be on cars and houses..

^^^^
Strange.

Someone challenged the claims you made and all you could do was tell him to 'shut up' or become miserable for daring to quote you. And you then brought his father into it.

I put it to you Sir - you are no actuary. And you aren't an 'insurer' (what do you even mean here?) either. At best you work for an insurance company. Just like someone who works in a bank is a bank worker - not a 'banker'.

No 'insurer' or actuary worth his salt would dispute the importance of recapitalization in underwriting higher levels of risk. Your comments show you clearly do not understand the issues at play here.

Cryomancer:
Very vibrant and stable Sir, that's why we have foreign investors trooping into the sector... We just need more of government intervention and regulation.

You won't really know, if you're not into the sector

^^^^
No sir.

People don't necessarily need to be "into the insurance sector" to know if it is vibrant and stable. Prove your claim that it is.

What is insurance's contribution to GDP? What is the market capitalization of insurance stocks? Any new issues or listings in the last few years? What is the ratio of non-life to life business? And the FDI you claim is pouring in - would you care to give some real world numbers?

These are some of the issues - and we don't need to "be into the sector" to ask these questions.

Depressingly familiar - but very necessary.

The same old accusations and counter accusations. Fantastic, wild allegations back and forth. High drama all the way. A lot of motion - but no movement. But we must tumble far into the abyss before we can appreciate ascension into the light.

The current administration (like others before it) has made selective justice a kernel of state policy. Who are they fooling? By all means prosecute Obono-Obla immediately (and it seems this government is too inept to do even that) if he has broken the law. But what of the many, many other members of this government who have a case to answer? What message is being sent by letting them go scot free - for months and even years?

Nigerians must reap the consequences of their failure to hold their leaders accountable. It is inescapable. Can water flow uphill? Will age old laws be suspended just because Nigerians wish it to be so? Other people hold their leaders accountable. Other people build their institutions. Other people fight for these things as if their very lives depend on it - because indeed they do. But Nigerians don't care.

A country gets the leaders it deserves. We will all suffer this pain together.

ednut1:
3rd to 7th was removed by fashola. We still dey experience traffic

^^^
I think you mean Ambode...

Kenturkey048:
Fsarz ar nothing but bloody civilians

^^^
This nonsense of putting down civilians has to stop.

Not one Nigerian soldier, rating or airman came out of his mother's womb wearing military uniform. And quite a number of military people hope to serve, be discharged honourably and die peacefully as civilians. You know what the alternative option is so I don't need to go into details. So where does this foolish contempt for civilians come from?

When the going gets tough and senior military commanders embezzle money meant for kitting the rank and file - the victims cry out to so called bloody civilians for support or help. When the military high command needlessly endangers the lives of its troops, these same troops seek out bloody civilians to spread the word to save their souls.

This unfounded sense of entitlement needs to be broken down and burnt to ashes. Civilians do not owe the military anything.

Nigeria is hard for everybody.

Neoteny:


South Africa, for one. Namibia also has better infrastructure, as does Kenya.

^^^
Ok.

I am not sure why SA, Namibia and Kenya are better models for comparison, though. Our history, politics, demography etc. is quite different. Our colonial experience was also different - SA and Namibia had Dutch and German overlords while Nigeria's oppressors were British. Our economics is also different - Nigeria is the only major oil producer/exporter among all four.

Perhaps without meaning to, you may have proved my point. You said up there that Namibia and Kenya (and SA too, no doubt) have better infrastructure. The question then arises: why is Nigeria far behind these countries (its peers according to you) in this area - as in so many other areas?

We ran out of excuses a long time ago. There's a fellow on here (Ugosample is his username I think) who keeps on highlighting why Nigeria is in serious trouble. The explosive mix of millions of unemployed/underemployed young men experiencing acute material poverty does NOT a stable country make.

The worst thing about it is that there is no end in sight to these problems.

Prepare for impact.

Neoteny:


Your points are valid with the exception that the UAE is not the right model for comparison

We're not in the same league, one of which is that their monarchist system allows the rulers to practically do as they please

Now imagine the nightmare of politics, political, tribal, ethnic, religious, social, and regional opposition. Imagine NASS and the presidency fighting about appropriation and contracts and projects, imagine the acrimony about where high value projects will be sited, and opposition to just about everything.

How do you propose that the political class and we the people would be on the same page? Already we can see the endless rancor anytime PMB appoints any notherner to any position, with people shouting about federal character. But when GEJ did same, the same people turned around and said merit trumps federal character.

Pastors, imams, academics, politicians, lawyers, parents....all institutions are only concerned about their narrow interests of religion and tribe.

So in the midst of this turmoil i wonder how anything of note can ever be achieved.

^^^
Not sure I agree with you Sir.

Perhaps I should start by asking which countries are the right model for comparison with Nigeria? Which countries are in Nigeria's league?

Neoteny:
It's a bit unfair to compare Nigeria to Dubai.

A lot of European and asian countries too can't compare and marvel at what they see there.

Sure, they've a visionary leader, but they'd tons more money generated from oil than we do.

Also not everything is blamable on government: we too ruin public infrastructure with our dirt and pollution and devil-may-care attitude towards preservation and conservation. Just look at the state of toilets in public places where people don't clean up after themselves, or even bother to flush. Some even piss and shiit deliberately on the floor. Or clog toilets with soggy tissues.

Lagos is dirty not just because of government but because lagosians can be quite careless and dirty.

^^^
No Sir.

It is fair to compare Nigeria to the UAE. What is unfair is that such comparisons are not made more often.

Yes - the UAE's oil revenue per capita is far higher than Nigeria's. But whose fault is that? There was a time Nigeria's oil revenue per capita was also high enough to put it in the league of middle income developing economies. What happened? Nigeria pissed away its opportunities and threw everything away. We can't blame the UAE for that.

Yes - government shouldn't be blamed for all Nigeria's problems. It should be blamed for over two thirds of those problems though.

Yes - people ruin public infrastructure. But guess what? People respond to incentives. If government severely punishes those who ruin public infrastructure then people will shape up. But if government itself doesn't care about what happens to public infrastructure then people will ruin it. This is just human nature at work.

One thing I will admit though is that government is made up of people drawn from the universal population. And these people share the values and orientation of that larger population - however bad those values/orientation may be. But that doesn't mean they (government) will not be held to a higher standard. They will be held to a higher standard because that is the burden of leadership.

honey930:
Nah...you got it wrong there. Econometrics is used beyond the University. International organisations, governments, public and private sectors use applied econometrics in decision making and policy formulations.

^^^
Ok. Good to know that. I just haven't come across anyone actually using applied econometrics in the banks where I have worked. I'll take another (longer) look at your channel - it will be interesting for me to re-visit those topics/concepts after so long. Cheers.

chriskosherbal:

Op do this ..

- spoil yourself a little, change your fashion sense abit, wear sneakers, knickers with sneakers, ...nice gold chains ..

^^^


I am going to place my order for knickerbockers with sneakers right now. My wool suits and ankara outfits have clearly been a complete disaster.

I was blind but now I see.

Crazy thread. The comments are off the charts.

honey930:
Thanks. Econometrics is the toughest branch in Economics which scares a lot of students. I am opportuned to simplify and teach it to the world.

^^^
I took a basic course years ago. I vaguely remember some of the terms and concepts in basic regression analysis - stochastic/deterministic variables, the error term etc. It definitely was interesting stuff. But you don't use it outside the university environment - unlike accounting concepts which people can and do use everyday.

honey930:
The truth is "anything" sells on YouTube. I mean anything that is good which creates a followership. Big-time earners did not get there overnight they do the following, among others:
1) carve a niche
2) create good and quality content
3) consistent. 8yo Ryan posts a video EVERYDAY. Kudos to his parents. That's a whooping 365videos in 2019. Unbelievable, unimaginable but POSSIBLE. These feat keeps his SUBSCRIBERS locked in to his Channel. Smart parents!
4) use SEO for visibility and drive traffic
5) do extensive research to satisfy their subscribers such that they continually WATCH their Channel. The more they watch, your YouTube earning grows.

My advise to Nigerians as 2020 draws closer, have a YouTube Channel and create your content. And what is a CONTENT? It is that thing you are good at doing. Such as:
1) cooking - show the world varieties
2) beading - teach the world how to bead
3) sewing - show the rudiments of sewing
4) vulcanizing - issues related to tyres
5) barbing - teach how to create classic hair cuts
6) gift wrapping - teach how this is done
7) farming - show farming skills and what-to-do
teaching - put your favourite subject out there and TEACH. For instance, I teach APPLIED ECONOMETRICS my Channel (CrunchEconometrix) grows daily (see my signature).
9) structural designs - show different building and architectural designs
10) comedy - everyone enjoys good skits. Show what you have.
.....and so much more!
Hope you find these hints helpful. Earning passive income is awesome!

^^^
Good advice.

Not expecting to see the techniques of econometrics anywhere on NL but surprises come when you least expect them.