Wallie's Posts
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The problem with people like Baba Suwe, thieving politicians and their co-conspirators is that they distort what an honest living looks like! I wonder how he likes his Akara? |
I actually like the idea of YouWin project and I think that it is a step in the right direction. If they can team the winners up with business leaders like the Dangote’s and Adenuga’s of Nigeria, GEJ might be up to something. With regards to Innoson, what makes you think that the government did not lend a helping hand? Do you also realize that Innoson is a for-profit company that has owners? Do you just want the government to pump tax money into a private company because it has potential? If so, then the government should be willing to pump money into textile factories, plastic factories, food processing factories, cash crops factories etc because they all have the potential of creating mass employment while increase IGR/GDP. With regards to Ajaokuta steel complex, I think the government was misinformed and shortsighted not to see the opportunities that the complex could provide in the short and long term. |
chikkim:OK. But could the voice of GOD be the shred of doubt in your mind that is being drawn-out by your biases? |
chikkim:You said, "If you are [b]sure [/b]it is actually GOD that is leading you to the person" but how can you be sure? |
How can you say for certain that it is God leading you to marry someone? How do you know it is not the devil or one’s own inadequacies? If you saw a sign, could you have misinterpreted the sign? If you heard a voice, could you be hearing your own conscious thoughts? Plus, if you heard a voice, you better check into “Aro” as you’re developing schizophrenia. I believe that we all have free will and can only pray to God for guidance. Mind you, I’m not saying to love cannot develop in a relationship. It is possible to look past your future partner during your first few encounters but you now love that same person to death! |
GenBuhari:Conjecture. You go from stating “facts” in your OP to arguing your opinion that can neither be proved nor disproved! What makes you think that IMF was willing to extend him loans? Even if they did, wouldn’t Nigeria’s credit rating determine the terms of the loan? You expect a bank to loan you money under great terms when they know that the likelihood of you not paying is high? GenBuhari:Do you have any proof that he didn’t make any money (directly or indirectly) in Liberia and Sierra Leone? GenBuhari:The policy was very uninformed because we didn’t have the economy to back it up (see my earlier posts)! GenBuhari:So in your definition of a looting president, every sector of the economy and every contract should have been looted? Creating PTF was a noble thing and I give him props for that but that does not mean that he didn’t loot or knew what he was doing. GenBuhari:The money wasn’t “supposedly” recovered. It was recovered and that’s a fact. Plus, what does this have to with Abacha’s economic performance? Apples and oranges! Try to stay on-point and stop grasping at empty straws. Come on, you can do better than this! |
GenBuhari:I already told you in post #63 that the major con in devaluing Naira is the higher cost of import especially when the average family depends heavily on foreign goods. But before devaluing Naira, what was the state of the manufacturing sector? Why couldn't our manufactured goods compete in the international market? Further, with the government being the largest employer in the country and the wages being raised, where do you want them to get the money to pay while also investing billions of dollars in infrastructure? My point is that Nigeria is a complex society and you have to balance the 10 or 20 variables. |
GenBuhari:I think you said that tongue-in-cheek but just to be sure, I'll call "conjecture." |
GenBuhari:1. I don't understand what you mean by selling oil in dollars. Isn't it one of the same? You sell in dollar equivalent of your naira. At the end of the day you consume Naira locally and covert to dollars when spending internationally. All that matters is for the exchange rate to stay the same. The end result will always be the same and if you think otherwise, give me an example with numbers involved. 2. Oil output is one of the variables that we can change but it doesn't change the value we are getting for a barrel of oil. The unitary value is still the same. Go back and re-think your rebuttals. I'm ready to spend the next few hours rebutting every single point your make. |
@GenBuhari Here's a link to historical crude oil prices http://inflationdata.com/inflation/inflation_rate/historical_oil_prices_chart.asp Do you now see that devaluing the Naira will generate more revenue and that keeping the dollar at NGN22 is uninformed? Read post #63 again if you're not sure. |
GenBuhari:Do you read my replies at all or you just choose a phrase to respond to? Do you see how the exchange rate is tied to Nigeria's revenue? For avoidance of doubt, I'm stating that Abacha's economic policy was responsible for Nigeria's stagnated growth during his period. If your theory about oil prices directly tied to GDP is true, can you explain why the GDP between 2008 and 2010 are below 10% when oil prices are at an historical high? |
GenBuhari:Nothing you've posted thus far in this thread can stand up to scrutiny. All you've shown is that someone with rudimentary knowledge of economics was at the helm of the state. The only thing I give Abacha credit for was keeping looters. Absolutely nothing was done during his regime, which is reflected by the GDP. Check out the GDP during Abacha’s tenure (1993-98) and compare it to when he left: 1993 2.09 1994 0.91 1995 -0.307 1996 4.994 1997 2.802 1998 2.716 1999 0.474 2000 5.318 2001 8.164 2002 21.177 2003 10.335 2004 10.585 2005 5.393 2006 6.211 2007 6.972 2008 5.984 2009 6.96 2010 8.724 http://www.indexmundi.com/nigeria/gdp_real_growth_rate.html |
The only way out of the vicious cycle above is to start manufacturing most of our needs. If that happens, devaluing the currency will have very little negative effect as our exports will earn more money and the country will become richer. |
GenBuhari:Do you actually think that it is always good to have almost the same currency parity value as the dollar? Let me play devil’s advocate for a minute: Assume that the following is true in the US: 1. An LG TV cost $500. 2. A DVD player is $200 3. A fridge is $1000. 4. Fuel $1.50 per liter and a family will need 2000 liters per year at a cost of $3000. 5. Generator is $500. Total cost for the family per year is $5200. The assumptions above seem like what a middle class family in Nigeria might need in a given year. Since nothing is manufactured in Nigeria, everything has to be imported from some foreign country. Let’s assume that country is the US (it makes no difference which foreign country you choose). During Abacha’s regime, the family will need NGN114,400 to cover the expenses if dollar was trading at NGN22. Today, that same family will need NGN806,000. Problem solved right? Hurray for Abacha!!!! Well not so fast! That also means that Nigeria will earn very little foreign exchange during Abacha’s regime considering the fact that about 90-95% of our money comes from selling oil in the international market. For each barrel of oil we sell at $80 we will only get NGN1,760 during Abacha’s regime but we will get NGN10,850 today. Add to the fact that oil is trading at an historical high, which means that we have incentives to devalue naira further! As you can see, the answer is not as simple as you think and it's more of a balancing act. There are only so many variables that you can shift around in your favor and the bottom line is that you have to pick your “poison.” Actually, when you’re an export driven economy you want to devalue your currency so that you earn more money for your export (think China). The only problem with this approach in Nigeria is that we also rely on importation for almost everything! There is no way that Abacha’s regime will be able to pay the new minimum wage or engage in meaningful infrastructural development with dollar trading at NGN22, which is why nothing was done during his time. Like I said, pick your poison! If you’re going to come back with a rebuttal that dollar trading at NGN22 is better for the Nigerian economy, make sure you back it up with numbers. At the very least, you’ll need the total number of barrels of oil being exported. |
GenBuhari:I knew there had to be more to your inflation figures. Yes, Abacha reduced inflation but that just means that he reversed the damages caused Babangida's government. Before Babangida came to power in 1985, inflation was below 5% but by the time he left power 1993, inflation rose to about 45%. Abacha’s government reduced it back to about 10% and by the end of Obasanjo’s government in 2007, inflation was at about 8%. So, what’s your point about Abacha again? |
GenBuhari:Sure if Obasanjo and Babaginda were the only other "leaders" in Nigeria. I would have thought that leaders will include all political office holders in the 3 arms of government? |
GenBuhari:Assuming arguendo that the Naira devaluation you posted is correct, it is irrelevant except when shown in the context of infrastructural developments made during that time. Any president reduce need for foreign exchange at the detriment of the economy. On the other hand, the inflation figures that you posted sounds interesting. |
Here's a wiki page on Abacha with cited references to the claims made. Can you dispute any of them with your references? Specifically, address the sections that deals with "Corruption allegations" and "Recovery of stolen funds". During Abacha's regime, a total of £5 billion was reported siphoned out of the country's coffers by the head of state and members of his family.[10] At that time Abacha was listed as the world's fourth most corrupt leader in recent history.[11][12] Abacha's national security adviser, Alhaji Ismaila Gwarzo, played a central role in the looting and transfer of money to overseas accounts.[13] His son Mohammed Abacha was also involved. A preliminary report published by the Abdulsalam Abubakar transitional government in November 1998 described the process. Sani Abacha told Ismaila Gwarzo to provide fake funding requests, which Abacha approved. The funds were usually sent in cash or travellers' cheques by the Central Bank of Nigeria to Gwarzo, who took them to Abacha's house. Mohammed Abacha then arranged to launder the money to offshore accounts.[14] An estimated $1.4 billion in cash was delivered in this way.[15] After Sani Abacha's death, the Obasanjo government implicated Abacha and his family in a wholesale looting of Nigeria's coffers. According to post-Abacha governmental sources, some $3[5] or $4 billion USD in foreign assets have been traced to Abacha, his family and their representatives, $2.1 billion of which the Nigerian government tentatively came to an agreement with the Abacha family to return, with the quid pro quo being that the Abachas would be allowed to keep the rest of the money. Although this proposal caused a massive outcry at the time for seeming to reward the theft of public funds, it was subsequently rejected by the late dictator's son, Mohammed Abacha, who continues to maintain that all the assets in question were legitimately acquired.[19][20] In 2002, Abacha's family agreed to return $1.2 billion that was taken from the central bank.[21]http://en.wikipedia.org/wiki/Sani_Abacha |
GenBuhari:The link you posted contains more than 11 pages of posts, which will take more than a "moment" to read especially since the link is about Nigeria in General. If you want to make claims that you believe are verifiable, enumerate the claims and link the supporting article or post number so that we can read it and rebut if necessary. Generally, Nigeria is getting worse because the fundamentals are either decaying or non-existent. Your argument is akin to a patient that’s suffering from a terminal illness that argues that Panadol works better than narcotic painkillers because he’s in more pain now while taking narcotic painkillers than when he was taking ordinary Panadol a few months ago. The patient fails to realize that he’s now more closer to death than he ever was a few months ago. |
Here's something that I posted on a different thread. ******************************************** Flying in Nigeria is terrifying!!! I went to Abuja in 2001 and on my flight back to Lagos I noticed commotion about 4 rows ahead of me. I saw a guy got up from his seat and walked all the way to the back. Then I saw the guy sitting next to him singing and praying while looking at the guy walking away. Then people started gathering around the guy sitting next to the guy that walked away. I then overheard someone say that the guy’s private is missing and they were checking it to see if it was true. All of a sudden, the guy sitting behind them shouted that his was also missing and we were still about 20 minutes away from landing. Come see how the old and young grabbed and held their “thing”! It is funny now but wasn’t back then. By the time we taxied to the gate, the pilot had already radioed to some military men that were waiting for all the guys involved. People that saw the missing people’s private said that there was nothing there expect pubic hair. I didn’t see it myself as I wanted to get as far away from those people ASAP! |
Flying in Nigeria is terrifying!!! I went to Abuja in 2001 and on my flight back to Lagos I noticed commotion about 4 rows ahead of me. I saw a guy got up from his seat and walked all the way to the back. Then I saw the guy sitting next to him singing and praying while looking at the guy walking away. Then people started gathering around the guy sitting next to the guy that walked away. I then overheard someone say that the guy’s private is missing and they were checking it to see if it was true. All of a sudden, the guy sitting behind them shouted that his was also missing and we were still about 20 minutes away from landing. Come see how the old and young grabbed and held their “thing”! It is funny now but wasn’t back then. By the time we taxied to the gate, the pilot had already radioed to some military men that were waiting for all the guys involved. People that saw the missing people’s private said that there was nothing there expect pubic hair. I didn’t see it myself as I wanted to get as far away from those people ASAP! |
Here are the facts as I see them: 1. Corruption is endemic in Nigeria and the government is clueless how to tackle it on a large scale. 2. The money set aside for infrastructure building is only a fraction of what’s needed. 3. Infrastructure is seriously lacking. 4. Oil subsidy is a drain on the economy and the money can be better spent. 5. Billions of dollars are needed for infrastructure. 6. Better infrastructure will make for a more prosperous citizenry. The problem facing Nigeria is a catch-22. Money is needed urgently for infrastructure but the money is being used on subsidy. So which should the government tackle first? Once the infrastructure is in place, subsidy won’t be needed except for the very poor but taking out the subsidy will make people suffer. The problem is compounded by the fact that any money that flows through the government will be mismanaged. So there is no guarantee that the money taken out of the subsidy fund will be used on infrastructure projects. The truth is that it makes little to no sense subsidizing fuel for millionaires and neighboring countries. My solution is to remove the subsidy but give the "poor" the money directly to subsidize their expenses. This way, people can get wined off subsidy gradually. However, make sure that only people that file their taxes and earn below a certain amount get the money. This way, the government is bound to generate more income while fulfilling her welfare duties. Win-win! This stuff is not rocket science! |
I'll add my two cents! Any type of car history report (Carfax, autochex or whatever else) should be the very first step in buying any car. ANY car. Yes, it is also true that carfax does not capture every single type of fraud but odometer rollbacks are the easiest to capture or detect. Here's a quote from Carfax's website It can be difficult, but not impossible to detect when a vehicle's odometer has been altered. CARFAX has compiled the following tips to help used car buyers detect odometer fraud:Where carfax fails is detecting when you're buying a lemon that is about to go bad. For example, if I see black or white smoke coming out of my exhaust under certain conditions, I might decide to sell it to a dealer who will sell or auction it. The best way to protect yourself is to pay a qualified mechanic to do a pre-purchase inspection (PPI). You will pay for it (buyer) and it will alert you to things that are wrong with the car you're about to purchase. They will check something similar to the following: OUTSIDE Straightness of body (sight down sides) Evenness of all door / panel gaps Paint condition? Evidence of repairs Operation/fit of top and side curtains Fit of top boot/tonneau Condition / originality of wheels/hubcaps/tires (date stamp / manufacturer) Presence and correctness of deco trim Smoothness, detail of lower rocker panels Smoothness, detail of wheel well arches Reflectors in place Type of bumpers/overriders/guards (correct?) Apply "bondo-meter" to known rust areas, other areas around car INSIDE PASSENGER COMPARTMENT Steering wheel / horn ring correct? Horn operational Headlight flasher ("horn ring" ![]() Operation / appearance of headlights, turnsignals, taillights Operation / appearance of windshield wipers Appearance of Seat bases Operation of drivers' seat adjustment (fore and aft) Operation of passenger seat adjustment (fore and aft) Appearance of underdash (overspray / wiring) Appearance of Thresholds (lift rubber covers) Appearance of Upholstery/seats Appearance of Floor (Lift Rubber Mats) Appearance of doors and door wells Appearance of door undersides - rust? Condition of "rolled edge" @ front of door opening Sound of door closing INSIDE LUGGAGE COMPARTMENT Presence/appearance of body plaque Appearance of hood underside (bent?) Appearance of battery floor (bottom-tire out) Appearance of battery floor (sides) Appearance of battery and holddowns/cover Presence / appearance of tool kit Presence / appearance of jack and handle Presence / appearance of spare tire (date stamp / manufacturer) Appearance of matching number at hood hinge Appearance of steering box Appearance of wiring Appearance of gas tank, sending unit, cap (date stamp) INSIDE ENGINE COMPARTMENT Appearance of matching number at deck lid Correct engine for car? Engine number (jos__________________) Kind of carbs (correct?) Kind of distributor (correct?) Condition of oil on dipstick Condition of engine wiring General condition (other) Type of muffler UNDER THE CAR Appearance of battery floor (probe) Appearance of closing panels (front) (probe) Appearance of frame struts (probe) Appearance of fender braces (probe) Appearance of closing panels (rear) (probe) Appearance of longitudinals and jackspurs (probe) Appearance / operation of suspension & shocks Appearance of rocker panels (bondo ?) Appearance/Operation of heater boxes Presence of oil leaks Correct transmission for car? DRIVING IMPRESSIONS Oil /generator lights operational at key turn? High beam light operational? Turn signal indications correct? Auto-cancel? Startup Oil Smoke? Steering free play? Engine smooth, quiet, powerful Transmission smooth, quiet, adjusted properly Excess slop in linkage? Speedster gears? (tach / speedo relationship) Tachometer smooth, accurate (Note redline, lag) Speedometer/odometer Oil Temp Guage Gas Guage Heater |
Does anyone know of any social program in Nigeria that serves food (cooked or uncooked) to the needy? As you can see, even first world countries are having a hard time dealing with this economic downturn and it is only going to get worse especially in Nigeria if the fuel subsidy is removed. Here's a video on Britain's food poverty http://cnn.com/video/?/video/business/2011/10/10/rivers-uk-food-poverty.cnn Hunger Statistics on the use of Emergency Food Assistance and Federal Food Assistance Programs in the US • In 2009, 4.8 percent of all U.S. households (5.6 million households) accessed emergency food from a food pantry one or more times. • In 2009, food insecure (low food security or very low food security) households were 15 times more likely than food-secure households to have obtained food from a food pantry. • In 2009, food insecure (low food security or very low food security) households were 19 times more likely than food-secure households to have eaten a meal at an emergency kitchen. • In 2009, 57 percent of food-insecure households participated in at least one of the three major Federal food assistance programs –Supplemental Nutrition Assistance Program (formerly Food Stamp Program), The National School Lunch Program, and the Special Supplemental Nutrition Program for Women, Infants, and Children. • Feeding America provides emergency food assistance to an estimated 37 million low-income people annually, a 46 percent increase from 25 million since Hunger In America 2006. • Feeding America provides emergency food assistance to approximately 5.7 million different people per week. • Among members of Feeding America, 74 percent of pantries, 65 percent of kitchens, and 54 percent of shelters reported that there had been an increase since 2006 in the number of clients who come to their emergency food program sites. There are people out there in need of help and we can’t always leave everything to the government. If those of us that are fortunate are not helping, who will? To me, being a good Christian, Muslim, or human being is about helping people in need just because they are humans. I pray to one day own such a secular tribal-neutral facility as a way of giving back. |
On paper, removing oil subsidy and diverting the money somewhere else sounds like a great plan but the realities of Nigeria will set in and the money will disappear. It will be interesting to see what type of safety net the government will set up for the poor. |
There’s no way to know the exact cost of the bridge but there are reliable numbers out there that can give us the cost range. NGN2.5B = $15M 115m (linear) = 377.3ft Lane width = 12ft Shoulder width = 10ft If there are 4 lanes and two shoulders, then the overall width is 12 X 4 + 10 X 2 = 68 ft To get the square foot area covered by the bridge 68 X 377.3 = 25,656 SQ.FT According to the data linked below, the average cost per square foot to build a bridge is between ($146 and $1045), which means the Fashola bridge will be in the neighborhood of[b] $3.7million - $26.8miilion[/b]. http://www.dot.ca.gov/hq/esc/estimates/Construction_Stats_2009.pdf http://en.wikipedia.org/wiki/Interstate_Highway_standards |
I’m pretty sure that they do this already but this is a step to formalize it. To people talking about freedom, there is no developed country in this world that does not monitor electronic transmission when needed. The difference between countries is the length you have to go through to get authorization for wire tap. |
Unfortunately, a deed like the OP's on a massive scale is what Nigeria needs to be great. I hope she just started something! [flash=480,390] https://www.youtube.com/watch?v=wMwoexR1evo[/flash] |
It depends on how prepared you are! 1. Do you have enough capital for startup? Is your bank account ready for money flowing in only one direction for a while? 2. Are you starting the business for the right reasons? You need a lot of determination, stamina, and drive. 3. Can you handle failure? What about your bank account? 66% of new businesses fail within the first 2 years and only 44% remains after the 4th year. 4. Are you disciplined enough to get "things" done on your own time? 5. Have you adequately planned the business? |
Two things you could give her. 1. Spend time with her, which is something that money cannot buy. 2. But while spending time with her, you want to give her something that immortalizes the moment, which is where the bracelet below comes in. Each of the charms or moments on the bracelet holds a significant meaning only to both of you, while making a fashion statement. For example, a first charm of birthday cake could represent her birthday or anniversary; on a different occasion like birth of your child, you can get her one or two different charms of “it’s a boy” marking the event etc.
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afam4eva:It is actually not that big of a deal because humans, especially younger ones, naturally have the instinct to hold their breath under water. The phenomenon is called Mammalian Diving Reflex and is triggered when cold water touches the face. It is the same reason why birthing baby into a tub of water is possible and also why babies can swim. |
While this is not an iPad killer, it is more than enough to give Apple high blood pressure. As was pointed out, this lacks some features present in the iPad but how many of those features really count? Most people get an iPad not as a laptop replacement but as something to compliment a laptop. iPad is primarily used to surf the web, watch movies, play games, listen to music, and do minor productivity work. Amazon’s Kindle fire covers all same primary functions and more importantly, at a very low price point. Don’t also forget that just like Apple, Amazon has an ecosystem to support the Kindle fire. I will be buying at least two as a gift just because the price is low enough. |
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