₦airaland Forum

smsshola:
Its well ....

If Iran can survive all these years under sanctions without exporting crude at all, then low oil prices should not be a concern at all.

The question is, how was Iran able to survive and indeed thrive without exporting crude? How were they able to fund exports? How were they able to stabilize their currency?

I think Nigeria should go and take lessons from Iran on how to survive without oil.

naijaboy756:
when kids talk, you just know. Summary is that the economy and life were better under GEJ than this pain we all live in

why not dispute the facts instead of throwing tantrums. The economy looked better because there was lots of money (corruption proceeds)being thrown around. Subsidy fraud money, import duty scam money, NNPC stolen money, stolen crude money, stolen Defense money, etc, i am yet to even add the high levels of corruption proceeds at the states and local government levels. In fact the economy was awashed with corrupt monies , all due to high oil prices, and all these were supervised by the coordinating minister of the economy.

Okonjo Iweala granted dubious import duty waivers that cost the country a whopping N1.4 trillion in 3 years. This is a woman that her kinsmen/woman want Buhari to hand over the country's financial management to? Maybe they want her to completely destroy Nigeria's economy in order to make way for their succession.

Nigeria Customs Service says import waivers massively abused under Okonjo-Iweala
Nigeria has lost a staggering N1.4 trillion on import waivers over the last there years and not N171 billion as claimed by finance minister, Ngozi Okonjo-Iweala.

According to the Nigeria Customs Service in a new document, more hundreds of billions of naira were lost as authorities recklessly grant import/export incentives on unapproved goods from rice to fish to kolanuts, with no significant bearing on the economy, adding that more than 65 percent of beneficiaries received the grant for goods not approved by the government, which ordinarily should be limited to raw materials, machinery and spare parts.
https://www.naij.com/57136.html

NavierStokes:
I will make a few pointers here, how much was the minimum wage at the time compared to other administrations? How much was the budget say compared to 1999 or earlier? How much was the corpers allowances compared to other administrations? How much was spent by the cbn in defending the naira over the period? Just to add expenses skyrocketed with the price of oil so in the actual sense we can not say that the jonathan administration was hugely at am advantage compared to other administrations. Based on your response and if you are interested, i could give you links to the activities of a one time cbn governor, as well as post a chart showing the comparison of global growth and oil price so you see that they are hugely proportional. (Growth is proportional to spending and other economic activities).

You did not respond to my submission that the main reason the governors were on war path with the FG's creation of the excess crude account was the lack of trust and transparency on the part of the FG. You cannot be comfortable with someone who you mistrust holding your money.

You have a point in explaining the hike in public expenditure under Jonathan, but what you stated is only half the reason. Corruption accounted for up to half of the reason Jonathan was unable to save. There was massive corruption in the fuel and kerosene subsidy regime, so much so that the cost of subsidizing petrol and diesel was almost half our national budget, and it was not budgeted for by the national assembly. Then there was was the import waiver regime where Okonjo Iweala made Nigeria lose hundreds of billions of naira in subsidy waivers for such stupid items like rice, luxury cars and even oil imports. The NNPC could not account for how much crude it sold and how much it remitted. There is customs, NLNG, immigration and even CBN, all these agencies were not remitting money to the FG.

The other revenue streams are avenues for raising income into the federation account from where the states are supposed to get 24% of their share and yet they get nothing. The same FG cheating the states of these revenues would then come back and propose that it wants to help the states save a portion of their share of the oil revenue. If you were a governor, would you agree?

Lighthouseman:
You are daft.
When the governors threatened court action saying excess crude account is unconstitutional and admission twisted the government into sharing and depleting the account now u are here blaming as usual which is typical of a programmed zombie. The Nigerian constitution dies not allow for savings on whatever form. It is built on a parasitic relationship of SHARE IT!

Yes the excess crude account is unconstitutional. It is not the sharing of the excess crude account that was the main problem of the governors, it was the unilateral withdrawals by the Jonathan's administration without permission from the governors that caused mistrust between the FG and states. Nobody could trust Okonjo Iweala and Jonathan with their share of federal allocations.

The governors share of the excess crude account is only about 24% while the FG's share is about 52%, why did the FG andnot save some of the FG's share in a special account for the rainy day. Was it the states that was responsible for the FG not being able to save it own share of allocation and still run a deficit budget?

Governors, who arm-twisted Okonjo Iweala into signing out our reserves held by Central Bank, are today ministers in the APC government. We are still talking about change and corruption when old things refuse to pass away!

This statement is false and is only an excuse to exhonorate Okonjo Iweala from the frittering away our oil boom bonanza by the last government. The governors never asked Okonjo Iweala to share our foreign reserves, what they asked to be shared was the money in the excess crude accounts and sovereign wealth fund. This is because the Governors( induding PDP governors) do not trust the Jonathan Goodluck Administration to keep their share of their money for them. They accused the Okonjo Iweala of unilaterally dipping her hands into the excess crude account without their consent.

The governors share of the excess crude account is only about 24% while the FG's share is about 52%, why did Okonjo Iweala not save some of the FG's share in a special account for the rainy day. She spent all the FG,s share and borrowed massively to pay salaries and buy Arms for the military. If the FG cannot save, why expect the states to save?

How was she able to save in the excess crude account despite arm twisting by the governors during OBJ's period with low oil prices?

ocelot2006:
Pls do tell how they ran Nigeria aground? Cos last i checked, GEJ left a Nigeria with a high economic growth rate of 6-7% despite the initial fall of oil prices and austerity measures imposed, a decent job growth.

PMB comes in like a headless chicken and in thr span of a few months reverses these succeses. Yet you want yo blamr GEJ for the incompetence of PMB?

Arguing with you people is like trying to catch a snake drenched in oil. If any sector is succeeding, you credit it to foundation laid by Jonathan. If any sector is failing, you blame PMB for reversing Jonathan's success. Which economic growth rate did Jonathan leave? The so called growth rate was simply crude oil growth rate. You hero was already talking of austerity measures when crude fell to $60 per barrel, what would he have said if he is still president with oil selling at $30.

If actually Jonathan performed miracles on the economy as you guys are propagating, it would be impossible for the economy to be on the verge of crashing a few months after he left office, the momentum alone would take at lest a year before it slows down to a crash.

ocelot2006:
Yes, PDP DEFINITELY had a SOUND economic blueprint compared to the current APC YAHOOS and JOKERS in power.

Can you do us all a big favour by directing us to a link to the sound economic blueprint?

APCLyingBastard:
The oil in Saudi Arabia have you set eyes on it?

The oil remains Niger Deltan first and not yours in anyway and it pains me that for 50yrs that oil has subsidized your parasitic existence.

Imagine if that wealth remained in the ND? Will ediots like you have mouth to yarn dust?

What are you talking about? are you alright.
My community in warri alone has 13 oil wells, how many oil wells are situated in your community? after you tell me, i will then know if you qualify to shout "our oil"

APCLyingBastard:
And what exactly do you produce for export in your sophisticated region?

The oil you are condemning is the only solution your clueless govt and regions have to survive.


This is why I call you people ingrates.


If we in the ND where independent of your useless nation do you think by now we will still be exporting crude to buy refined Petroluem products?


Abeg leave your flat chest beating when you discuss among your fellow roaches.

You shout WE in the ND as if your community has oil. If you have ever seen an oil well or even an oil sleek before you would not spew the rubbish you are yarning here.

Even if we in the Nigerdelta become independent, we might not gain much from our oil resources, this is because our visionless leaders are satisfied with correcting rent from foreign based oil exploiting firms than developing local capacity ti exploit oil. We lack the manpower and technology to explore and exploit oil, so we will have to depend on foreigners to do it for us and sit down at home collecting rent. Because of this foreign companies charge Nigeria $28 to explore and exploit a barrel of oil, and still share the profit on a 60:40 ratio, so when oil falls below $28 per barrel we get nothing. Meanwhile Saudi Arabia is able to produce a barrel of oil at as low as $2 per barrel, so even if oil was to fall to $10, they would still be making a profit.

NavierStokes:
1.Making a reference to him as "my brother" has got nothing to do with ethnic affiliations but rather as one human to another.
2. The economic policies being brandished by this administration has all been synonymous with cluelessness.
3. I am afraid your responses are coming across as bigoted from the way youtried to shift blames to emefiele and onyema and attempting to shield the finance minister from attacks.
4. My brother do not be intransigent and assert that I am incredible because of differing opinions. The message was delivered exactly "as is" from the source.


PS: note that the CBN is inder the ministry of finance, and also the NSE thoigh private is regulated by SEC and under the supervision of the ministry of finance. So his assertion isn't unfounded and you arguing the contrary is an indirect attempt to accuse madam finance minister of laxity in carrying out her duties.

You people always find a way to blame other tribes but quick to make excuses for your own for errors done by all. The financial sector was in the hands of your tribesmen/women during the last government and they messed up big time, you are now attempting to shift blames on a yoruba woman that had hardly been finance minister for 2 months. So according to your wrapped blame searching logic, Kemi Adeosun is to be blamed for Nigeria's fiscal and monetary policies, and she is also in charge of Nigerian security exchange. Emefiele and onyema now report to the finance minister according to some ethnic bigots? To them an Igbos public office can never do wrong while public officers from other tribes can never do right.

Oboy see phd thesis. I give you huge credit for taking out time and effort to write out such long and detailed argument, it betrays your intellectual and physical depth. I do not have the physical strength and time for a detailed rejoinder and i hope bevista can take on the enormous challenge of a detailed response. Even though i agree with many of your submissions, on the performance of OBJ and Soludo, i disagree vehemently with your conclusion that GEJ performed better than OBJ, that is if GEJ performed at all.

LordAdam:
I am not going to compare OBJ to GEJ (OBJ spent 8 years and GEJ spent 5 years). Still, OBJ paid off debts and left billions in the reserves because he did far less than he could have done. All the major sectors under his administration were majorly stagnant.

Paying up $12 billion and leaving such huge amounts in our foreign reserve and excess crude accounts is a major feat, giving that crude averaged $40 per barrel during his tenor.
What you fail to put into consideration is that under OBJ, Nigeria was just coming out of economic doldrums. Under Abacha/abdulsalami Nigeria was a pariah nation, nobody was ready to do business or invest in Nigeria, so OBJ spent a lot of time traveling to restore relationships with other nations and invite foreign investors. So to say major sectors under OBJ was stagnant is uncharitable considering where we were coming from.

Even his top 2 achievements are questionable:
1. Telecommunications would have entered Nigeria at one point or the other. That it entered under OBJ is not an achievement. Should we also applaud the Shagari regime for bringing in computers? Did OBJ not oversee the colossal failure of NITEL? Was OBJ MTN, Econet, or Glo that spearheaded the widespread development of the telecommunication sector? What exactly did OBJ do other than sell licenses at exorbitant costs and wasting the government revenues?

2. Nigeria's financial sector is a joke. It has always been. Soludo's market recapitalization did not stop Sanusi from exposing the rot in the sector that led to famous "Sanusi tsunami" that saw several bank executives (most notably Cecilia Ibru) having to vacate their lofty positions. Even Soludo's begrudged "20 to 25 banks supporting the whole nation" is BS. There are over 5000 commercial banks in the US [although the figure has consistently fallen almost exclusively due to market forces and stricter fiscal policies (note not monetary policies)]. Over a quarter of those banks have just one office. They have national, regional, and local banks; a move that Sanusi gravitated to when he became CBN governor.

So what exactly was his achievement in the sector. Despite Nigeria having a larger economy than South Africa, can our banks compete with SA banks? What we need in the banking sector in Nigeria is strict policing of activities over successive regimes not terming one regime a better regime over the other because of myopic furtherances.

How many naira denominations did OBJ introduce?
What about the coins Soludo introduced whose inherent value were more than the face value they held?

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I also do not credit OBJ with bring GSM to Nigeria. GSM was a revolution going around the world, so it would have come to Nigeria whoever the president was.

Although i disagreed with the way soludo was sleeping in bed with the banks instead of regulating them, i still think OBJ government did quite well in the financial sector, as you said he reduced inflation rate to 6% before he left, he stabilized the naira, he almost eliminated the gap between the parallel and official exchange markets, he increased the capital base of banks and made them bigger, etc.

Have to go and prepare for work. Might continue later when i have time.

LordAdam:
Yes. GEJ will be a better manager than PMB of our current economic relapse. However, Nigeria does not have a leader in the polity that fits this description at the moment "possesses the soundness of mind to proffer innovative cutting edge ideas to a complex Nigeria."

My support for GEJ stems from the fact that he is a better evil than PMB.

-Lord

I strongly disagree what GEJ would have been a better manager than PMB. As i pointed out earlier GEJ had the highest earnings in the history of Nigeria and his management of these earnings was at best poor. GEJ did not introduce anything new into the polity , his policies were simply a continuation of OBJ's policies carried over by yaradua, which is mainly hinged on privatization of state asserts.

As for PMB, we have to wait a bit more to see his policy direction. At the moment he is more occupied with the war against Boko Haram and corruption.

Bevista:
40m litres/day is the figure PPPRA has been quoting for some years now as our daily consumption. However, during the Ministerial screening, Ibe Kachikwu said that he believes the proper number should be closer to 30m than 40m.
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Most industry people believe that the 40m figure was used merely to profit unduly from the subsidy regime.

It is possible that we consume up to 40 million litres a day. I consume close to 100 litres weekly to run both office and home as PHCN is yet to resume for Christmas break in my area. So imagine what lagos alone with over 2 million homes would be consuming just on generators. If I am assume Nigeria has a minimum of 15 million households with our estimated 170 million population, majority without electricity, then If even 5 million households consume 4 litres daily with " i better pass my neighbor" generator, then only generators would consumption at least 20 million litres daily. We have not even started talking about cars and artisans like barbers, welders and small businesses.

What i am trying to say is that we cannot solve our fuel problems without solving our electricity problem. Having constant electricity can reduce our fuel consumption by up to half.

PreyingMantis:
It is sad that you've chosen to keep your eyes perpetually on the rear-view instead of looking ahead. Elections have long been over. Buhari won and is in charge now. He owes Nigerians the duty and obligation of good leadership. Nigeria is going under and it will be a shame if Nigeria goes under while he's still in charge. History will always remember him for that. It seems he has no idea on how to pilot this ship. Things are going from bad to worse

I asked a simple question and you are rambling. You are saying that president Buhari lacks and i asked, who can you name that possesses the birthdaysoundness of mind to proffer innovative cutting edge ideas to a complex Nigeria? Name that person you know that knows how to pilot this ship.

Clowns. Who will register the judgement of Britains invasion of Falkland Islands and Iraq.

Bevista:
I appreciate your contribution in trying to enrich the discussion. Though I have not quoted your full comment (because of space management), be rest assured I read it fully.
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Though I supported PMB in 2011 and 2015, I have to say that I am somewhat disappointed with his handling of the economy till now. I am most unimpressed with the delay in appointing ministers, the budget controversy and the tight FX policy controls.
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I also want to admit that, in retrospect, it does appear OBJ was the best manager of the economy in the last 16 years. He paid off $12billion debt to the Paris Club, left over $60b in Foreign Reserves and over $20b in Excess Crude Account. The banking consolidation and telecoms revolution all happened during his tenure. All this happened with an average oil price of less than $45 over his 8yr tenure.
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Having said that I think it is completely uncharitable to discredit PMB by comparing the current economic realities with OBJ in 1999. Even though oil was $16pb in 1999, do you know what our Federal budget was by then? I'll remind you - it was ~N300b. I admit that the exchange rate was ~N98/$ by then. However, using an inflation rate of 9% over 16yrs, PMB would need oil price at ~$63pb and a meagre budget of N2tn to be on the same economic footing with OBJ in 1999. Sadly, the old man needs to fund a N6tn budget with $28pb oil price. Add that to the fact that our population has grown from 120m to over 170m now, and you will appreciate the weight on the shoulder of the old soldier.
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It is my candid view that, economically, the Jonathan era was the worst in our democratic history. The average oil price during GEJ's 5yr reign was over $90pb, yet the country was left with less than $30b in FR and ~$2b in ECA. One cannot even point to any major economic activity that happened under him. Our power generation stood at less than 4,000MW in 2015, which is about what he inherited in 2011.
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Now, this is not an exercise in blame as that would be an effort in futility, but this is just to offer some perspective to your earlier assertions. As @janellemonae noted earlier, president Obama inherited a collapsed economy from president Bush, yet today, the American economy has witnessed unemployment lower than it has ever been in its recent history (5%). The Stock Market made new all time highs under Obama. President Buhari has a similar situation to turn around the country and write his name in gold. History will not remember what made you fail but simply your success or failure.

Thank you for your indepth analysis. I have always supported Buhari, because i feel he is sincere and disciplined. i am not also too impressed by his actions so far, but i am ready to give him time, at least 18months before i start criticizing his handling of Nigeria. But right now he looks confused and overwhelmed by the enormity of the problems facing the country.

As you rightly said the Jonathan administration was the worst thing that happened to Nigeria. Jonathan has nothing to show for his 5 and a half year rule - nothing. Even IBB has the Third Mainland Bridge to his credit and the moving of the capital to Abuja. OBJ did substantial work on Abuja. Jonathan did nothing despite having the highest revenue in the history of Nigeria. Jonathan had enough resources to build Gas pipelines throughout nigeria to solve our energy crisis and even supply the whole of West Africa to earn foreign exchange. he had enough to modernize our railways instead of resuscitating achaic rail systems with tokunbo trains. He had the resources to modernize our military to meet modern threats - external and internal, but we ended up being worse than when he assumed power.

I forgot to add that he also had the resources to build the 2nd, third and even 4th Niger bridge

Bevista:
I said "narrow". You can take that to mean anything you want. There was a time, during, Soludo when the difference between the official and parallel exchange rate was less than N2.
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Devaluation does not solve the fundamental economic problem of import dependency, but it will prevent a bad situation from getting worse.

I say it is not as simple as that. During soludo time what was the average price of crude? what was our import bill? what was our expenditure (especially recurrent). During soludo, the OBJ government was able to pay our debt to the paris club, meet the dollar demands of Nigeria at the bi-weekly dollar dutch auction sales and save enough money in our foreign reserve and sovereign wealth fund. He even had the luxury of hosting two expensive world events - Commonwealth Games and Commonwealth Heads of Governments. So because the OBJ government was relatively "prudent", soludo had enough dollars to bridge the gap between the parallel and official markets.

But now the situation has reversed. Crude is selling at $27 per barrel, our taste for imported products has skyrocketed, our recurrent expenditure has ballooned, and there are loan obligations to pay. Dont forget that corruption within the government agencies has also risen. So where do you want Emefiele to get the dollars to bridge the Gap between the markets?

Bevista:
I am not sure the CBN sells dollars directly to banks arbitrarily.
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The dollars allocated to DMBs are based on customer requirements which the banks will have to show evidence to the CBN. Such requirements include approved LCs, BTA, Medical bills, school fees, etc. So, all dollars given to banks by CBN already have pre-determined purposes.
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The bank is most likely sourcing extra dollars from independent & unconventional sources and will transfer this cost to the customer. If they do not do what they are doing now, then you may not even be able to use your cards for international payments because the banks won't have dollars to clear that transaction. Maybe then you will be begging to pay N350.
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The major problem I see here is when the banks are buying dollars from customers. They pay less than N197 and yet will sell that same dollars to another customer at N285. As long as the huge divergence exist between the official and black market rates, this arbitrage will continue.
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What the CBN needs to do is to devalue the official rate to anywhere between N230 - N250 and that will narrow the gap between the two markets. That might bring the black market rate to around N240 - N260. Pending that, the banks will continue their roundtripping and there's nothing you can do about it. Have you wondered why the CBN is not saying anything about the matter? Or do you think they are not aware?

And you think the gap between the parallel and official rate can be bridged simply by devaluation. The official market has been chasing the parallel market since the early 80's when $1 was N0.5 and till today is yet to catch up. As long as we export everything we consume and export only crude oil, the gap between the parallel and official markets would be determined by the price of crude oil.

onatisi:
I stated in clearly that it is a private public venture. Try and give a business man the right to build a refinery in any state of the nation and tell him to operate it and be the sole marketer for that state ,it is then you will see how many investors will bid for such licenses. If countries can construct pipeline from one country to another ,what is the big deal in making one from Easter Nigeria to the west?.
We keep making mountains of problems out of simple problems which only require simple solutions with enough political will

I am sorry to say, but you have no idea of what you are talking about.

I had written about this in the past. Refinery Business is a very capital intensive business and is even not a very profitable business. The return on investmnet period is very long. Sometimes it takesup to 20 year to recupperate the cost of investment before you start talking about profit. Now with lending rates hovering around 25%, which crazy investor will invest in such huge long term investment in an unstable economy like Nigera.

Construction of a gas pipeline to another country is one thing but construction of CRUDE PIPELINES to 36 states of Nigeria is impractical and a recipe for disaster. There are already fuel pipelines to some major depot around the country and its not working because of the huge problem of pipleline vandalization and lack of maintenance, and you are talking of crude oil pipelines to all 36 states. So who will be responsible for the building and maintenance of the pipelines, the FG, the States or the private investor. What of the owners of the land the pipelines will pass through? who will compensate them for their lands?
Most world refineries are built near the source of crude or near the sea port, the finished products are then transported by rail or pipelines to the interior. That was why i did not see the sense in building refinery in Kaduna, and you are talking about building a refinery in Yola.

onatisi:
How can u make a lawyer with no basic economic educational qualification or experience the chief financial and economic planner of a country in this modern age and expect positive results? Are there no qualified economist anymore in Nigeria?we have qualified economists who are presently making other countries work and better simply because those countries have listening presidents who don't behave like gods . Why can't the president appoint ppl like pat utomi and co? But he won't because of 2 reasons,one is they wont take shit from him and secondly is that those ppl won't wipe tinubu dirty ass.

The basic problem of Nigeria is not educational qualification, it is sincerity (or lack of.). We have had highly qualified people handle nigeria's economy in the past with no positive impact. People like Olu Falae, Kalu Idika Kalu, Okonjo Iweala, had been finance minister and Nigeria's economy did not feel their impact. Infact they all impacted negatively on the Nigerian economy. Utomi, to me is not innovative. He had been in government before and his impact was not felt. All he talks about is Singapore and the Asian Tigers, as if Nigeria's problems can be solved by simply extrapolating Singapore's economic model to Nigeria.

What we need is sincerity of purpose. What do we want as a country? where do we want to go? how do we get there? What structures do we need to put in place to get us where we want to be? Do we even want a country or we want to return to our ethnic enclave?

onatisi:
the solution is simple ,let every state in Nigeria construct her own refinery. Let state partner private companies to establish refineries in each state
mini refineries will only take 1 year or 2 to complete . There is no big deal in all these.

Utopic idea. Where will the states get the money to build the refineries when they can hardly pay salaries? A small 24,000 BPD capacity refinery is estimated to cost $250million, and that is even without putting into consideration the NIGERIAN FACTOR.

The capital outlay for any 100,000 barrel per day (bpd) refinery is about $1.5 billion, while a 24,000 bpd modular refinery is roughly $250m. Therefore, it is easier to access funds for the modular refining modules (through US Ex-IM Bank).
http://www.vanguardngr.com/2014/03/crude-refining-africa-way-forward/

Then how will the refineries in each state get access to raw material - crude oil? Is the FG to lay pipelines to all 36 states in Nigeria? or the refineries will transport crude oil by road using tankers?

Then which state institution had ever succeeded in Nigera?

Chubhie:
I must confess that current realities has shown that Buhari lacks the soundness of mind to proffer innovative cutting edge ideas to a complex Nigeria.

Can you tell us that person you know that possesses the soundness of mind to proffer innovative cutting edge ideas to a complex Nigeria. I hope you do not mention Goodluck Jonathan.

Buhari is fighting corruption turn by turn, and its not yet Deziani Alison's turn. Buhari is dealing with fraud in defence allocations and taking an inventory of military equipment first.he is also looking into NIMASA and the maritime sector. He will then move on to customs. He will move into the oil sector after dealing with the less controversial sector. The scandal in the oil sector is huge, he cannot take on the oil sector while being distracted by these other sectors. He will be overwhelmed if he attempts to attack all sectors at once.

Deziani and her supporters should be patient, their time will come.

Dead on arrival. So ECOWAS court is now the appeal court or Supreme court. Ecowas has no jurisdiction in Nigeria's domestic affairs. Dasuki's lawyers should file a comtempt charge against the FG if they feel the FG is disobeying court orders.

boyt1:
Everyday Apc is buying time telling us how PDP stole all the billions and trillions in our treasury and Reserve, but still the economy and Businesses was better than today. How

The price of oil was over $100 under PDP (Jonathan), the price is $30 now. Also production was over 2.2million barrels a day under PDP, while we are struggling to find buyers for our crude today. Do not also forget, under PDP hundreds of thousands barrels of crude was stolen per day, but now the fear of Buhari is the beginning of wisdom.

Pk001:
I am really surprise with this Ameachi's action. He will surely regret this action.
Zaria alone has two Transport institutions. He thinks that NITT couldn't have been upgraded to handle aviation as well, but they chose to keep the two institutions?
They want to kill the university project just the way they killed Lagos light rail.
Next we will hear is , Matime University "Lokoja"
Hmmm he is talking of upgrading Maritime Academy Oron. Oron is a monotechnic specialized to train sea fearers. The proposed university is specialized to train Engineers,ship designers and ship builders inclusive of all matiime structures.

Bros Ameachi, you are not a true Niger Deltan if you kill this project. Niger Delta might Never have such opportunity again.
You are talking of those that will attend the school.
Who are those that attend Oron? Who are those that go to Zaria?
Don't you know that it is the institutions that made both Oron and Zaria Popular?
FYI Zaria is the town that has the highest number of Federal government institution in the Country, that's why it became popular and developed.
Okerenkoko can also be the same if given same opportunity.
I urge all Niger Deltans to stand up and speak against this decision.j
The northerners will never do this to their regions, what Ameachi just did or is trying to do.

Are you sure you are true nigerdeltan? Because if you are, you will appalled by Jonathan and his cronies defrauding the nigerdelta instead of condemning Amaechi for thinking of how to make the best of a very bad situation. After 6 years in the presidency, the nigerdelta has nothing to show from one of her son's becoming head of state.

Which university project does Amaechi want to kill? There was no university project. There was only fraud and scam. For ordinary land Jonathan paid Tompolo N13 billion. Do all the land in swamps Gbaramatu kingdom worth N13 billion and does it all belong to Tompolo? Ok where are the title deeds and receipts for the sale including the survey plan, so we can see the actual land. If land alone is N13 billion, how much will the whole university cost? N1 trillion? You want Amaechi to build the project that Jonathan did not even start? Where will he get the money from?

The most logical thing to do is to renovate and upgrade existing facilities. Why can Oron be upgraded to a polytechnic specializing in maritime engineering and other courses.
I do not support moving anything maritime outside the nigerdelta though as that is the maritime hob of Nigeria.

frankyychiji:
Read what you wrote again and modify your posts before someone with brains takes you to the cleaners.

Why are you deflecting responsibility? Are you telling us you brain is not capable of taking me to cleaners? Ok, bring in your master who you claim has brains.

cktheluckyman:
Dont worry!! By the time Buhari is stupid enough to even attempt to go after GEJ we would know between Osun and Enugu who will be complaining of hunger!!!let Buhari just dare!!

Can you tell me what you eat today? I am sure no item came from your state or even region. The rice is expired rice from china, the yam is from the north, the beaf or meat is from the north, even the tomato and pepper is from the north. If you ate chicken or turkey, that is rejected poultry from europe. So if your government does not recieve bail out from the federal government or IMF, how would you feed?

HopeAlive14:
Has there been any "saintly" government in Nigeria... before or after?

Well, some past Presidents and Heads of State has been asked to appear before courts or panels and they disobeyed.

Lies! No former Head of State had even been surmoned to appear before a court. The Oputa Panel had no legal backing.

HopeAlive14:


They haven't had there era probed because they were saints?

No! because the governments that came after them see them as saints.

Candyrain:
Just as Bubu was made, by any means, to appear before Oputa Panel when he was summoned, right?

I didn't know someone already threw that at you. Zombies everywhere

Did Oputa panel have any law setting it up or backing it? Oputa panel was just a jamboree. Attendance was not compulsory. Justice Oputa did not tell you he had powers to declare anybody guilty or innocent, or even the legal right to summon anybody. That was why people like IBB, Buhari, Abdulsalami declined the invitation to attend.

If Jonathan is summoned by a legally constituted court, he has no choice but to appear, else he would charged for contempt.