₦airaland Forum

I will love to meet Albert Einstein..he thought me that imagination is better than knowledge.
2..Adolf Hitler...In his imagination he wanted to conquer the world.
3.General Babaginda he had big ideas for nigeria but june 12 spoilt it all
4 General Obasanjo..he knows how to take decisions and let every one else go to hell
greetings

Where is the source of your story..pls quote your source.Nairaland is a source of credible stories and news item...follow the tradition by quoting your source..thankks

It is amazing and makes me wonder more on the mysteries of life..can the scientist in the house tell us why the stunted growth.

Lena Henderson and Roland Davis got married as teenagers in Chattanooga, Tenn., during World War II. On Saturday, the 85-year-olds are getting re-hitched in Buffalo, nearly 50 years after they divorced, according to Cupid's news cherubs.

"I always thought it might happen," Davis, a military vet whose second wife died in January, told the Buffalo News. "It was always in the back of my mind. We're just thankful that we could get back together."

"I think we just kept thinking about each other all the time, even though we were so far apart," said Henderson, a widow after her second marriage.

After divorcing in 1964 -- nobody is saying why -- they kept in touch, even as Davis moved around the world. His new wife even used to call Henderson for advice. They last saw each other in 1996 at a family funeral.

"The way they would act to each other never indicated there was anything but a friendship between them," their youngest daughter, Renita Chadwick, told the Buffalo paper. "My mother never had a harsh or contrary word to say about my dad, and my dad never had anything but loving remarks to make about my mother."

"Every person I share this story with smiles, cries or laughs," Chadwick said.

Davis proposed over the phone at Easter. He arrived in suburban West Seneca from Colorado Springs with an engagement ring "pinned to my T-shirt" so he wouldn't lose it.

With four generations of family watching, including the four children they had while married, the forever lovers will re-tie the knot at a church, which they didn't do as teens.

A reception will follow, but, once again, no honeymoon trip.

"I'm just happy that we're here," said Davis.

"You don't think people are going to get married at this age," he added. ""We're just thankful we've lived this long and that we're still here. We have a lot to be thankful for."


http://content.usatoday.com/communities/ondeadline/post/2012/07/divorced-50-years-ago-85-year-old-couple-to-remarry/1

It's not yet clear how it happened, but a Washington, D.C., musician who ordered a flat-screen TV through Amazon received a military-style assault rifle instead.

Seth Horvitz ordered the 39-inch Westinghouse TV last week through one of Amazon's third-party vendors, WTTG-TV reported. On Tuesday, UPS left a smaller box at his apartment in northeast D.C. The 38-year-old electronic musician told The Washington Post he thought the seller had sent him a stand for the set.

Inside, Horvitz found a black, semiautomatic Sig Sauer SIG716, similar to the M16, which U.S. forces have carried for 50 years, and the AR-10. The SIG716 is used by law enforcement and the military.

"I was confused as to how that kind of mix-up could happen," he told the Post. "It surprised me to see how easy it would be for a gun to show up on someone's doorstep — not just a gun, but an assault weapon."

The box had two mailing labels: one with his name and address, the other for a Pennsylvania gun store that had ordered it from a supplier. Neither the gun store nor the supplier was identified.

Horvitz notified the sender and called D.C. police. He told the Fox station the two officers who responded "were a little confused at first; they've never seen anything quite like it."

"They just took my information and then said we'll handle this weapon because it's illegal to keep here. It's illegal to transport in a car, so it can't be returned."

On Deadline has asked Amazon whether it has determined how the mix-up occurred and whether it has any policies covering gun purchases. We'll update if we get answers.
http://content.usatoday.com/communities/ondeadline/post/2012/08/dc-man-orders-tv-from-amazon-gets-assault-rifle-instead/1[img]

A Brazilian man was arrested for trying to board a flight at Orlando International Airport while carrying 27 snakes that he'd wrapped in pantyhose and stashed away in inside stereo speakers, authorities said.


(Orange County Jail)Mateus Del Maso, Jr. checked the speakers as luggage, but they were inspected and the snakes hidden inside were discovered. The creatures never made it onto the aircraft.

Dal Maso purchased the serpents at the National Reptile Breeders Expo in Daytona Beach, Fla. He admitted he was going to carry the snakes - which he valued at about $10,000 - into Brazil and breed them for commercial purposes, a release from the U.S. Fish and Wildlife Service said.

He did not have the proper authorization to take the reptiles - one ball python, seven boa constrictors, and 19 color morph corn snakes - into Brazil.

Dal Maso pleaded guilty on Aug. 23 to attempting to smuggle the snakes. He served two days in Orange County Jail and was fined $6,000. He was also sentenced to one year of supervised release, and must report to a probation officer within 72 hours of his arrival if he ever returns to the U.S.

The snakes were taken to an undisclosed care facility.

The arrest came about as a result of a multi-agency law enforcement operation that's been dubbed "Operation Snake Pit." The program seeks to prevent the illegal shipping of reptiles.
http://gma.yahoo.com/blogs/abc-blogs/busted-trying-board-plane-27-snakes-130416795--abc-news-topstories.html

This is one small step for a man, one giant leap for mankind.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr101137.html

As a boy, because I was born and raised in Ohio, about 60 miles north of Dayton, the legends of the Wrights have been in my memories as long as I can remember.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363158.html

I believe that every human has a finite number of heartbeats. I don't intend to waste any of mine running around doing exercises.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363165.html

I believe every human has a finite number of heartbeats. I don't intend to waste any of mine.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr391441.html

Science has not yet mastered prophecy. We predict too much for the next year and yet far too little for the next 10.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363176.html

Mystery creates wonder and wonder is the basis of man's desire to understand.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr135030.html

Pilots take no special joy in walking. Pilots like flying.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363174.html

Research is creating new knowledge.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363175.html

It suddenly struck me that that tiny pea, pretty and blue, was the Earth. I put up my thumb and shut one eye, and my thumb blotted out the planet Earth. I didn't feel like a giant. I felt very, very small.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr101138.html

The important achievement of Apollo was demonstrating that humanity is not forever chained to this planet and our visions go rather further than that and our opportunities are unlimited.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363178.html

Well, I think we tried very hard not to be overconfident, because when you get overconfident, that's when something snaps up and bites you.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363183.html

Houston, Tranquillity Base here. The Eagle has landed.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr160410.html

Gliders, sail planes, they're wonderful flying machines. It's the closest you can come to being a bird.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363162.html

Here men from the planet Earth first set foot upon the Moon. July 1969 AD. We came in peace for all mankind.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363163.html

I guess we all like to be recognized not for one piece of fireworks, but for the ledger of our daily work.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363167.html

I think we're going to the moon because it's in the nature of the human being to face challenges. It's by the nature of his deep inner soul... we're required to do these things just as salmon swim upstream.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363169.html

I was elated, ecstatic and extremely surprised that we were successful.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363170.html

In much of society, research means to investigate something you do not know or understand.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363171.html

It's a brilliant surface in that sunlight. The horizon seems quite close to you because the curvature is so much more pronounced than here on earth. It's an interesting place to be. I recommend it.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363172.html

Yeah, I wasn't chosen to be first. I was just chosen to command that flight. Circumstance put me in that particular role. That wasn't planned by anyone.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363185.html
[img]This is one small step for a man, one giant leap for mankind.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr101137.html

As a boy, because I was born and raised in Ohio, about 60 miles north of Dayton, the legends of the Wrights have been in my memories as long as I can remember.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363158.html

I believe that every human has a finite number of heartbeats. I don't intend to waste any of mine running around doing exercises.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363165.html

I believe every human has a finite number of heartbeats. I don't intend to waste any of mine.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr391441.html

Science has not yet mastered prophecy. We predict too much for the next year and yet far too little for the next 10.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363176.html

Mystery creates wonder and wonder is the basis of man's desire to understand.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr135030.html

Pilots take no special joy in walking. Pilots like flying.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363174.html

Research is creating new knowledge.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363175.html

It suddenly struck me that that tiny pea, pretty and blue, was the Earth. I put up my thumb and shut one eye, and my thumb blotted out the planet Earth. I didn't feel like a giant. I felt very, very small.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr101138.html

The important achievement of Apollo was demonstrating that humanity is not forever chained to this planet and our visions go rather further than that and our opportunities are unlimited.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363178.html

Well, I think we tried very hard not to be overconfident, because when you get overconfident, that's when something snaps up and bites you.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363183.html

Houston, Tranquillity Base here. The Eagle has landed.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr160410.html

Gliders, sail planes, they're wonderful flying machines. It's the closest you can come to being a bird.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363162.html

Here men from the planet Earth first set foot upon the Moon. July 1969 AD. We came in peace for all mankind.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363163.html

I guess we all like to be recognized not for one piece of fireworks, but for the ledger of our daily work.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363167.html

I think we're going to the moon because it's in the nature of the human being to face challenges. It's by the nature of his deep inner soul... we're required to do these things just as salmon swim upstream.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363169.html

I was elated, ecstatic and extremely surprised that we were successful.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363170.html

In much of society, research means to investigate something you do not know or understand.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363171.html

It's a brilliant surface in that sunlight. The horizon seems quite close to you because the curvature is so much more pronounced than here on earth. It's an interesting place to be. I recommend it.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363172.html

Yeah, I wasn't chosen to be first. I was just chosen to command that flight. Circumstance put me in that particular role. That wasn't planned by anyone.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363185.html
[/img]This is one small step for a man, one giant leap for mankind.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr101137.html

As a boy, because I was born and raised in Ohio, about 60 miles north of Dayton, the legends of the Wrights have been in my memories as long as I can remember.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363158.html

I believe that every human has a finite number of heartbeats. I don't intend to waste any of mine running around doing exercises.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363165.html

I believe every human has a finite number of heartbeats. I don't intend to waste any of mine.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr391441.html

Science has not yet mastered prophecy. We predict too much for the next year and yet far too little for the next 10.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363176.html

Mystery creates wonder and wonder is the basis of man's desire to understand.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr135030.html

Pilots take no special joy in walking. Pilots like flying.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363174.html

Research is creating new knowledge.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363175.html

It suddenly struck me that that tiny pea, pretty and blue, was the Earth. I put up my thumb and shut one eye, and my thumb blotted out the planet Earth. I didn't feel like a giant. I felt very, very small.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr101138.html

The important achievement of Apollo was demonstrating that humanity is not forever chained to this planet and our visions go rather further than that and our opportunities are unlimited.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363178.html

Well, I think we tried very hard not to be overconfident, because when you get overconfident, that's when something snaps up and bites you.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363183.html

Houston, Tranquillity Base here. The Eagle has landed.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr160410.html

Gliders, sail planes, they're wonderful flying machines. It's the closest you can come to being a bird.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363162.html

Here men from the planet Earth first set foot upon the Moon. July 1969 AD. We came in peace for all mankind.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363163.html

I guess we all like to be recognized not for one piece of fireworks, but for the ledger of our daily work.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363167.html

I think we're going to the moon because it's in the nature of the human being to face challenges. It's by the nature of his deep inner soul... we're required to do these things just as salmon swim upstream.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363169.html

I was elated, ecstatic and extremely surprised that we were successful.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363170.html

In much of society, research means to investigate something you do not know or understand.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363171.html

It's a brilliant surface in that sunlight. The horizon seems quite close to you because the curvature is so much more pronounced than here on earth. It's an interesting place to be. I recommend it.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363172.html

Yeah, I wasn't chosen to be first. I was just chosen to command that flight. Circumstance put me in that particular role. That wasn't planned by anyone.
Neil Armstrong

http://www.brainyquote.com/quotes/quotes/n/neilarmstr363185.html

"Close your eyes and let us pray"---that is the signature statement before prayer commences in nigerian churches. Am i right ?

Now with the numerous security challenges ,confronting christians while they worship;would you still advise a christian to close his eyes while praying in the church.?. I want to hear your views.

[bGoogle Inc. faces intensifying challenges in China after a popular website and Internet browser company there replaced the search service for its own technology.

Qihoo 360 Technology Co. launched its own search engine last week and is in the process of making it the default on its website and browser, said Chief Financial Officer Alex Xu in a Tuesday interview. The Beijing company, whose Internet browser reached about 270 million monthly users in the first quarter, previously offered Google's search technology as the first choice.][/b]


http://online.wsj.com/article/SB10000872396390443713704577603164191151588.html?mod=rss_whats_news_technology

The post_jamb Screening for Auchi Polytechnic for the new session 2012/2013 is likely to come up in the first week of july.No date has been fixed but reliable but unconfirmed reports say it will come up before the elections slated for july 14 2012.If you have choosen Auchi Poly start preparing for the screening test.Goodluck

The January 2012 report of Webometrics, a world tertiary education ranking institutions organisation, has shown that only three institutions in Nigeria made the list of first 100 best universities in Africa and none in the first 1,600 in the world.

The University of Benin ranked 1,639th on the global scale, the 18th in Africa and the first in Nigeria, followed by the University of Agriculture, Abeokuta, Ogun State as the second in Nigeria and the 2,266th in the world. It however did not show on the first 100 list in Africa.

The University of Ibadan, the third in the African first 100, was the 2,515th in the world and 53rd in Africa, while the University of Nigeria, Nsukka is 3,228th, Obafemi Awolowo University-3,263rd and the University of Lagos- 3,486th, were the fourth fifth and sixth, respectively, in Nigeria.

Others were the Ahmadu Bello University, University of Ilorin-4,302nd, University of Jos 5,681st, Auchi Polytechnic- 254th and the National Open University of Nigeria- 6,576th, which came seventh, eighth, nineth, 10th and 11th, respectively on the African list.

The Auchi Polytechnic, being the 24th in Africa retained its position as the best polytechnic in Nigeria.[color=#006600][/color]

Topping the world list were the Havard University, which maintained its first position followed by the Massachusetts Institute of Technology, Stanford University, University of Michigan and the University of California, Berkeley that came second, third, fourth and fifth respectively.

The University of Cape Town dropped to second position in Africa.

The report showed a significant drop in the quality of Nigeria’s tertiary education compared to the previous rankings.

For instance, in the 2011 report, eight institutions in Nigeria made the African best 100 list. They included University of Ilorin (20th), University of Jos (42nd), University of Nigeria, Nsukka (54th), University of Lagos (58th), Obafemi Awolowo University (63rd), Ahmadu Bello University (69th), National Open University of Nigeria (86th) and the University of Agriculture, Abeokuta (95th).

The first five in Africa were the Mauritius Institute of Education, Mauritius (387th in the world), University of Cape Town, South Africa (532th), Rhodes University, South Africa (573rd), Cairo University, Egypt (687th) and the University of the Witwatersrand, South Africa (819th).

In a related development, a report from 24/7 Wall St has listed the United States, Japan, Canada, Norway, Finland, United Kingdom, South Korea, New Zealand, Israel and Australia as countries with the most educated people.

According to the journal, the countries that invest the most in education have the most educated people.

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The Real Cost Of Nigeria Petrol- By Dr. Izielen AgbonOn December 10, 2011, if you stopped at the Mobil filling station on Old Aba Road in Port Harcourt , you would be able to buy a litre of petrol for 65 naira or $1.66 per gallon at an exchange rate of $1/N157 and 4 litres per gallon. This is the official price. The government claims that this price would have been subsidized at N73/litre and that the true price of a litre of petrol in Port Harcourt is N138/litre or $3.52 per gallon.

They are therefore determined to remove their subsidy and sell the gallon at $3.52. But, On December 10, 2011, if you stopped at the Mobil Gas station on E83rd St and Flatlands Avenue in Brooklyn, New York, USA, you would be a able to buy a gallon of petrol for $3.52/gallon. Both gallons of petrol would have been refined from Nigerian crude oil. The only difference would be that the gallon in New York was refined in a US North East refinery from Nigerian crude exported from the Qua Iboe Crude Terminal in Nigeria while the Port Harcourt gallon was either refined in Port Harcourt or imported. The idea that a gallon of petrol from Nigerian crude oil cost the same in New York as in Port Harcourt runs against basic economic logic. Hence, Nigerians suspect that there is something irrational and fishy about such pricing. What they would like to know is the exact cost of 1 litre of petrol in Nigeria .

We will answer this question in the simplest economic terms despite the attempts of the Nigerian government to muddle up the issue. What is the true cost of a litre of petrol in Nigeria ? The Nigerian government has earmarked 445000 barrel per day throughput for meeting domestic refinery products demands. These volumes are not for export. They are public goods reserved for internal consumption. We will limit our analysis to this volume of crude oil. At the refinery gate in Port Harcourt, the cost of a barrel of Qua Iboe crude oil is made up of the finding /development cost ($3.5/bbl) and a production/storage /transportation cost of $1.50 per barrel.

Thus, at $5 per barrel, we can get Nigerian Qua Iboe crude to the refining gates at Port Harcourt and Warri. One barrel is 42 gallons or 168 litres. The price of 1 barrel of petrol at the Depot gate is the sum of the cost of crude oil, the refining cost and the pipeline transportation cost. Refining costs are at $12.6 per barrel and pipeline distribution cost are $1.50 per barrel. The Distribution Margins (Retailers, Transporters, Dealers, Bridging Funds, Administrative charges etc) are N15.49/litre or $16.58 per barrel. The true cost of 1 litre of petrol at the Mobil filling station in Port Harcourt or anywhere else in Nigeria is therefore ($5 +$12.6+$1.5+$16.6) or $35.7 per barrel . This is equal to N33.36 per litre compared to the official price of N65 per litre. Prof. Tam David West is right. There is no petrol subsidy in Nigeria . Rather the current official prices are too high. Let us continue with some basic energy economics.

The government claims we are currently operating our refineries at 38.2% efficiency. When we refine a barrel of crude oil, we get more than just petrol. If we refine 1 barrel (42 gallons) of crude oil, we will get 45 gallons of petroleum products. The 45 gallons of petroleum products consist of 4 gallons of LPG, 19.5 gallons of Gasoline, 10 gallons of Diesel, 4 gallons of Jet Fuel/Kerosene, 2.5 gallons of Fuel Oil and 5 gallons of Bottoms. Thus, at 38.2% of refining capacity, we have about 170000 bbls of throughput refined for about 13.26 million litres of petrol, 6.8 million litres of diesel and 2.72 million litres of kerosene/jet fuel.

This is not enough to meet internal national demand. So, we send the remaining of our non-export crude oil volume (275000 barrels per day) to be refined abroad and import the petroleum product back into the country. We will just pay for shipping and refining. The Nigerian government exchanges the 275000 barrels per day with commodity traders (90000 barrels per day to Duke Oil, 60000 barrels per day to Trafigura (Puma Energy), 60000 barrels per day to Societe Ivoirienne de Raffinage (SIR) in Abidjan, Ivory Coast and 65000 barrels per days to unknown sources) in a swap deal. The landing cost of a litre of petrol is N123.32 and the distribution margins are N15.49 according to the government. The cost of a litre is therefore (N123.32+N15.49) or N138.81 . This is equivalent to $3.54 per gallon or $148.54 per barrel. In technical terms, one barrel of Nigerian crude oil has a volume yield of 6.6% of AGO, 20.7% of Gasoline, 9.5% of Kerosene/Jet fuel, 30.6% of Diesel, 32.6% of Fuel oil / Bottoms when it is refined.

Using a netback calculation method, we can easily calculate the true cost of a litre of imported petrol from swapped oil. The gross product revenue of a refined barrel of crude oil is the sum of the volume of each refined product multiplied by its price. Domestic prices are $174.48/barrel for AGO, $69.55/barrel for Gasoline (PMS or petrol), $172.22/barrel for Diesel Oil, $53.5/barrel for Kerosene and $129.68/barrel for Fuel Oil. Let us substitute the government imported PMS price of $148.54 per barrel for the domestic price of petrol/gasoline. Our gross product revenue per swapped barrel would be (174.48*0.066 +148.54*0.207+172.22*0.306+ 53.5*0.095+129.68*0.326) or $142.32 per barrel. We have to remove the international cost of a barrel of Nigerian crude oil ($107 per barrel) from this to get the net cost of imported swapped petroleum products to Nigerian consumers. The net cost of swapped petroleum products would therefore be $142.32 -$107 or $35.32 per barrel of swapped crude oil. This comes out to be a net of $36.86 per barrel of petrol or N34.45 per litre.

This is the true cost of a litre of imported swapped petrol and not the landing cost of N138 per litre claimed by the government. The pro-subsidy Nigerian government pretends the price of swapped crude oil is $0 per barrel (N0 per litre) while the resulting petroleum products is $148.54 per barrel (N138 per litre). The government therefore argues that the “subsidy” is N138.81-N65 or N73.81 per litre. But, if landing cost of the petroleum products is at international price ($148.54 per barrel), then the take-off price of the swapped crude oil should be at international price ($107 per barrel). This is basic economic logic outside the ideological prisms of the World Bank. The traders/petroleum products importers and the Nigerian government are charging Nigerians for the crude oil while they are getting it free.

So let us conclude this basic economic exercise. If the true price of 38.2% of our petrol supply from our local refinery is N33.36/litre and the remaining 61.8% has a true price of N34.45 per litre, then the average true price is (0.382*33.36+0.618*34.45) or N34.03 per litre. The official price is N65 per litre and the true price with government figures is about N34 per litre (even with our moribund refineries).

There is therefore no petrol subsidy. Rather, there is a high sales tax of 91.2% at current prices of N65 per litre. The labor leaders meeting the President should go with their economists. They should send economists and political scientists as representatives to the Senate Committee investigating the petroleum subsidy issue. There are many expert economists and political scientists in ASUU who will gladly represent the view of the majority. The labor leaders should not let anyone get away with the economic fallacy that the swapped oil is free while its refined products must be sold at international prices in the Nigerian domestic market.

The government should explain at what price the swapped crude oil was sold and where the money accruing from these sales have been kept. We have done this simple economic analysis of the Nigerian petroleum products market to show that there is no petrol subsidy what so ever. In the end, this debate on petrol subsidy and the attempt of the government to transfer wealth from the Nigerian masses to a petrol cabal will be decided in the streets. Nigerian workers, farmers, students, market women, youths, unemployed, NGO and civil society as a whole should prepare for a long harmattan season of protracted struggle. They should not just embark on 3 days strike/protests after which the government reduces the hiked petroleum prices by a few Nairas. They must embark upon in a sustainable struggle that will lead to fundamental changes. Let us remove our entire political subsidy from the government and end this petroleum products subsidy debate once and for all. It is time to bring the Arab Spring south.

Izielen Agbon Izielen Agbon writes from Dallas, Texas. izielenagbon@yahoo.com
http://saharareporters.com/article/real-cost-nigeria-petrol-dr-izielen-agbon

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Military: Mubarak will meet protest demands
10:09 AMYahoo! BuzzShare
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By Douglas Stanglin, USA TODAY
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10 Recommend Tens of thousands of Egyptian workers walked out in mass nationwide strikes to demand wage increases and gatherd in Tahrir square to show support for the widening revolt against Mubarak's regime.
CAPTIONBy Marco Longarl, AFP/Getty ImagesUpdate at 11:07 a.m. ET: CNN's John King quotes a senior
U.S. official as saying that President Mubarak has agreed to yield power to his vice president Omar Suleiman.


The BBC quotes a senior member of Egypt's governing party as saying he "hopes" that Mubarak will transfer power to Suleiman. Hossan Badrawi, secretary general of the National Democratic Party tells the BBC that Mubarak would "most probably" speak to the nation within hours.

It remains unclear what role the military will have. The supreme council of the armed forces issued a statement saying they will stay in session indefinitely during the crisis.


An excerpt from the statement:

"Based on the responsibility of the armed forces and its commitment to protect the people and its keenness to protect the nation, and in support of the legitimate demands of the people [the army] will continue meeting on a continuous basis to examine measures to be taken to protect the nation and its gains and the ambitions of the great Egyptian people.



Update at 11:01 a.m. ET: CIA director Leon Panetta says there is a "strong likelihood" that President Mubarak will step down today.


Update at 10:50 a.m. ETGen. Hassan al-Roueini, military commander for the Cairo area, tells thousands of protesters in central Tahrir Square: "All your demands will be met today."


Many among the flag-waving protesters held up a V-for-victory sign and shouted, "Allahu akbar," or "God is great," the Associated Press reports.

In addition, the head of the ruling party, Hossam Badrawi, tells the AP that he expects President Hosni Mubarak will "address the people tonight to respond to protesters demands."

Update at 10:45 a.m. ET: NBC says Mubarak will make a statement this evening and step down. A statement by the armed forces on Egyptian state TV says the military convened the supreme council of the armed forces "to safeguard people and protect their interest." Al-Jazeera TV notes that Mubarak was not shown attending that meeting.


In its statement, the military says it the council will remain in session indefinitely during the crisis. It says the decision was made in response to "legitimate" popular demands.


Update at 10:37 a.m. ET: NBC's Richard Engel says two independent sources have confirmed that Mubarak will step down. In addition, the armed forces supreme council has convened to begin the orderly transition of power, NBC says.


Update at 10:28 a.m. ET: NBC reports thatEgyptian President Hosni Mubarak at a meeting in Cairo in January, 2011. l
CAPTIONBy Amr Nabil, AP Egyptian President Hosni Mubarak will step down tonight and that Vice President Omar Suleiman will take over as president.



Update at 10:23 am ET: Military and ruling party officials say President Hosni Mubarak will meet protesters' demands, the Associated Press reports.

Earlier posts: A senior Egyptian army commander has told protesters that all their demands will be met, the Associated Press reports.





At the same time, Egypt's supreme council of armed forces is meeting to discuss its position on the crisis in Egypt, Al-Jazeera network reports.

Al-Jazeera confirms the AP report and says the army will make a statement later today.

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