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  • Re: State of the Nation Post #283160
    Posted at: 10:32 pm, 26th Jul 2016
    by duduspace. SMN . Joined: 13th February 2007. Thanked 322 times.


    It is always revealing and good for democracy when these politicians fight. That is when their yansh is olened for all to see.


  • Re: State of the Nation Post #283159
    Posted at: 9:20 pm, 26th Jul 2016
    by bamidele97. SMN . Joined: 5th November 2010. Thanked 114 times.


  • Re: World Politics Post #283158
    Posted at: 9:02 pm, 26th Jul 2016
    by bamidele97. SMN . Joined: 5th November 2010. Thanked 114 times.

    Oracle;283157 wrote:
    I am one of them. Though you were right on your call that these guys will torment Europe. I give that to you. I was wrong. Very wrong !

    Thanks very much.:D


  • Re: World Politics Post #283157
    Posted at: 8:11 pm, 26th Jul 2016
    by Oracle. SMN Forum Moderator. Joined: 19th May 2010. Thanked 448 times.

    bamidele97;283156 wrote:
    Well.. I still remember those that supported the Arab spring (that culminated to the influx of jihadists under the guise of being refugee into Europe) on this forum.
    The west brought this upon themselves.

    I am one of them. Though you were right on your call that these guys will torment Europe. I give that to you. I was wrong. Very wrong !


  • Re: World Politics Post #283156
    Posted at: 7:53 pm, 26th Jul 2016
    by bamidele97. SMN . Joined: 5th November 2010. Thanked 114 times.

    Oracle;283154 wrote:
    With the increasing attack by ISIS in Europe, i think ISIS is helping Trump to win this election. All trump is saying is coming to pass. Another attack happened today inwhich a catholic priest was killed in a church by ISIS member. The world isn't safe.

    Well.. I still remember those that supported the Arab spring (that culminated to the influx of jihadists under the guise of being refugee into Europe) on this forum.
    The west brought this upon themselves.


  • Re: Economicwatch Post #283155
    Posted at: 6:57 pm, 26th Jul 2016
    by tdmadeeasy. SMN . Joined: 11th October 2006. Thanked 32 times.

    wanaj0;283138 wrote:
    And making customs men richer! Answer to prayers by Custom Officers.

    Right. And banning items is the answer, because banned items cannot be smuggled and customs officers don't profit from smuggling abi? Issokay.


  • Re: World Politics Post #283154
    Posted at: 6:19 pm, 26th Jul 2016
    by Oracle. SMN Forum Moderator. Joined: 19th May 2010. Thanked 448 times.

    With the increasing attack by ISIS in Europe, i think ISIS is helping Trump to win this election. All trump is saying is coming to pass. Another attack happened today inwhich a catholic priest was killed in a church by ISIS member. The world isn't safe.


  • Re: State of the Nation Post #283153
    Posted at: 6:00 pm, 26th Jul 2016
    by MissedOpportunities. SMN . Joined: 5th February 2014. Thanked 46 times.


  • Re: State of the Nation Post #283152
    Posted at: 5:44 pm, 26th Jul 2016
    by MissedOpportunities. SMN . Joined: 5th February 2014. Thanked 46 times.

    PMB Will Rule Nigeria For Eight Years – Olumba Olumba Prophesies |PMB Will Rule Nigeria For Eight Years – Olumba Olumba Prophesies |

    You say?
    :listen:

    “For now, which leader in Nigeria would people be afraid of, to the extent of coming up by themselves to return stolen money?” The Prophet said.

    “I can assure that despite the millions of money people are spending, including going diabolical, to kill the president, they will not succeed and he will not be harmed. He will certainly complete his eight years in office.

    “Buhari has a special task to accomplish in Nigeria at these times,” Obu prophesied


  • Re: Nigerian Government Promises, Commitments etc. Post #283151
    Posted at: 5:37 pm, 26th Jul 2016
    by MissedOpportunities. SMN . Joined: 5th February 2014. Thanked 46 times.

    FG Approves Entry Price for Proposed Solar Plants | THISDAYLIVE

    Bintube further stated that an approximately $1.75 billion is expected to be spent in construction of the plants by the investor. He added that the timeline for the plants to come on stream would be 18 months from when the project starts.


  • Re: State of the Nation Post #283150
    Posted at: 5:31 pm, 26th Jul 2016
    by MissedOpportunities. SMN . Joined: 5th February 2014. Thanked 46 times.

    Abia Gov Tussle: Maintain status quo - Appeal Court orders | P.M. NEWS Nigeria

    Justice Ogunwumiju, leading a panel of five justices of the appelate court ruled that “both parties should remain as they were to allow the court expeditious hearing of various complaints brought before this court,” implying that the judgment of the Federal High Court removing Okezie from office subsists.

    Confusion! What did the court say about status quo? Abi na Ogah be Governor now?
    :canabis:


  • Re: State of the Nation Post #283149
    Posted at: 5:14 pm, 26th Jul 2016
    by migiets. SMN . Joined: 1st March 2008. Thanked 290 times.

    MissedOpportunities;283146 wrote:
    Abuja-Kaduna Rail: We're excited Buhari has commissioned our project- PDP - Vanguard News

    “We must commend former President Goodluck Jonathan for the conceptualisation of the project as a standard gauge rail line. We sincerely hope the project fulfils the dreams he had of greater integration between the cities of Abuja & Kaduna. “We also commend former Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala for the work put into the structure of the project. It is important to note that the structure of this project ensured that it didn’t suffer the fate of many projects before it which are abandoned by successive administrations...

    “The rail line has nine stations and costs $874million. Of this figure, $500million was provided by the China Exim Bank as a concessionary loan while the Jonathan administration paid $374million as counterpart funding. “The rail line included the construction of 30 railway bridges, including five box bridges. Construction on the rail line commenced in February 2011 and ended in December 2014. The nine stations were in advanced stages of completion when the Jonathan admininistration handed over. “This project is the first in a series of developmental projects conceptualised and initiated by the Jonathan administration.” “Others that will soon be completed include the new terminals at the Nnamdi Azikiwe International Airport and Akanu Ibiam International Airport, Enugu. God bless Nigeria,” the party said in a series of tweets on Tuesday.


    Kudos to GEJ and PMB. One started, the other finished.
    Na so e suppose be!
    :tee:

    Kudos to both. Going forward, we need to see continuation of projects like this unlike the era of 'cancel', 'cancel' and 'cancel' of projects initiated by a past administration that has gotten us nowhere.


  • Re: Economicwatch Post #283148
    Posted at: 5:01 pm, 26th Jul 2016
    by oyo. SMN . Joined: 6th January 2013. Thanked 83 times.

    duduspace;283142 wrote:
    I think that can be controlled by a cashless payment system. Our technology and IT infrastructure has reasonably matured to be able to easily control this now. With cameras and social media also, sting operations can be easily carried out to expose offenders.


    Bros, you are assuming too much honesty and patriotism for the average importer.;) Bra Wanaj and myself were speaking from experience:cool: Apart from collusion with the customs at official borders, the "unofficial" entry points will surely witness more traffic. Take the case of rice for instance where Benin Republic officially recorded large volumes of parboiled rice imports well above their consumption...even though they traditionally consume paddy rice:eek:

    Why do you think this economy has had distortions since after the civil war? It"s because a growing number of citizens never respected the laws of the land, hence a lot of cutting corners,.....just to be rich,:mad:......money matters either by crook or hook:o


  • Re: State of the Nation Post #283147
    Posted at: 4:55 pm, 26th Jul 2016
    by overload. SMN . Joined: 18th October 2011. Thanked 102 times.


  • Re: State of the Nation Post #283146
    Posted at: 4:54 pm, 26th Jul 2016
    by MissedOpportunities. SMN . Joined: 5th February 2014. Thanked 46 times.

    egoigwe;283143 wrote:
    Abuja-kaduna rail

    God bless GEJ for giving Buhari something to commission after more than a year in office.

    Abuja-Kaduna Rail: We're excited Buhari has commissioned our project- PDP - Vanguard News

    “We must commend former President Goodluck Jonathan for the conceptualisation of the project as a standard gauge rail line. We sincerely hope the project fulfils the dreams he had of greater integration between the cities of Abuja & Kaduna. “We also commend former Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala for the work put into the structure of the project. It is important to note that the structure of this project ensured that it didn’t suffer the fate of many projects before it which are abandoned by successive administrations...

    “The rail line has nine stations and costs $874million. Of this figure, $500million was provided by the China Exim Bank as a concessionary loan while the Jonathan administration paid $374million as counterpart funding. “The rail line included the construction of 30 railway bridges, including five box bridges. Construction on the rail line commenced in February 2011 and ended in December 2014. The nine stations were in advanced stages of completion when the Jonathan admininistration handed over. “This project is the first in a series of developmental projects conceptualised and initiated by the Jonathan administration.” “Others that will soon be completed include the new terminals at the Nnamdi Azikiwe International Airport and Akanu Ibiam International Airport, Enugu. God bless Nigeria,” the party said in a series of tweets on Tuesday.


    Kudos to GEJ and PMB. One started, the other finished.
    Na so e suppose be!
    :tee:


  • Re: First Bank Plc Post #283145
    Posted at: 4:30 pm, 26th Jul 2016
    by oyo. SMN . Joined: 6th January 2013. Thanked 83 times.

    Iroquoi;283134 wrote:
    RenCap summary:
    We officially kick off 1H16 earnings season for the Nigerian banks with the release of FBNH’s results. The numbers came in ahead of our estimates, largely due to significant FX gains of NGN52.9bn. PBT of NGN45.9bn represents 61% of our FY16 forecasts and translates to a YoY decline of 12%. PAT also came in ahead of our FY16 estimates, with run rate at 56% - PAT is down 11% YoY, and a more marked 27% QoQ owing to a much higher effective tax rate in 2Q16 (effective tax rate in 2Q16:37% vs 1Q16:6%). We had flagged the possibility of significant revaluation gains coming through for the Nigerian banks in 1H16 and note that FBNH has a sizeable net long FX position; FX gains of NGN52.9bn represent 57% of total NIR and 24% of total operating income in 1H16.


    Thank you, sir:cool:


  • Re: Economicwatch Post #283144
    Posted at: 4:30 pm, 26th Jul 2016
    by laso. SMN . Joined: 9th January 2012. Thanked 71 times.


  • Re: State of the Nation Post #283143
    Posted at: 4:17 pm, 26th Jul 2016
    by egoigwe. SMN . Joined: 13th October 2012. Thanked 33 times.

    Abuja-kaduna rail

    God bless GEJ for giving Buhari something to commission after more than a year in office.


  • Re: Economicwatch Post #283142
    Posted at: 1:46 pm, 26th Jul 2016
    by duduspace. SMN . Joined: 13th February 2007. Thanked 322 times.

    wanaj0;283138 wrote:
    And making customs men richer! Answer to prayers by Custom Officers.

    I think that can be controlled by a cashless payment system. Our technology and IT infrastructure has reasonably matured to be able to easily control this now. With cameras and social media also, sting operations can be easily carried out to expose offenders.


  • Re: Economicwatch Post #283141
    Posted at: 1:39 pm, 26th Jul 2016
    by duduspace. SMN . Joined: 13th February 2007. Thanked 322 times.

    wanaj0;283137 wrote:
    Better for who???? Are you going to increase salaries by over 60% now to compensate for the fuel increase, devaluation etc.

    YES no easy choices BUT floating the Naira is NOT in the interest of the common man!

    Priorities need to be set! No one operates a FREE market in the true sense of the world.

    I hope that the discipline that is leading to increase in excess crude oil account will continue.

    But Oga mi, the devaluation had already taken place anyway. That dual rate really couldn't be defended particularly in a none authoritarian regime where round trippers can't be summarily executed. Leaving it to free float and finding alternative ways to discourage importation of some products we believe we have or can reasonably expect to develop a competitive advantage for is better.
    I know it goes against what PMB promised or what he wanted to do but sincerely speaking, I could see no other reasonable way out. Everyone (both neutral and biased) were complaining and the data wasn't positive (at least in the short term).


  • Re: State of the Nation Post #283140
    Posted at: 1:21 pm, 26th Jul 2016
    by MissedOpportunities. SMN . Joined: 5th February 2014. Thanked 46 times.

    bamidele97;283113 wrote:
    Oga Laso in o ra sir o. I hear say Fayose is sharing tubers of yam in Ekiti. Gba temi demi o.

    that is evidence of higher allocation for the past month
    :D


  • Re: State of the Nation Post #283139
    Posted at: 1:10 pm, 26th Jul 2016
    by laso. SMN . Joined: 9th January 2012. Thanked 71 times.

    wanaj0;283135 wrote:
    What made the plan unrealistic? Remember this budget was bottoms up and not top down. You had dislocations in the economy which was not expected. It started with the oil price going below $30/bbl in the first quarter of the year. When the oil price started recovering, we had the Avengers action. That affected not only oil production BUT also gas supply to power plants and other companies that uses gas.

    The alternative is to have a pessimistic view of things. That also has its downside. It gives room for 'squandering' since you have 'awoof' money if things become better than planned.

    You keep on optimising the plan as you go on. It is a 'live' document and not static. What is important is to reflect changes in the external environment in your plan and make adjustment as required.

    The minister himself has acknowledged that the revenue projection were over optimistic.In terms of percentage,we are even doing better with our revenue from oil with respect to budget projection compare to non oil and independent revenue. The reason is simple,projection for oil revenue was moderate and not overly optimistic.


  • Re: Economicwatch Post #283138
    Posted at: 12:57 pm, 26th Jul 2016
    by wanaj0. SMN . Joined: 9th April 2007. Thanked 369 times.

    ayemco;283128 wrote:
    By imposing serious Tariff

    And making customs men richer! Answer to prayers by Custom Officers.


  • Re: Economicwatch Post #283137
    Posted at: 12:56 pm, 26th Jul 2016
    by wanaj0. SMN . Joined: 9th April 2007. Thanked 369 times.

    duduspace;283125 wrote:
    I think this free float is better. If it didnt do anything else it stopped the false accusations of subsidy barons creation.
    I am firmly in support of the exclusions list though although all the big economists seem to say free float and exclusions list are incompatible.
    I am firmly of the opinion that toothpick and power generating turbines shouldnt be treated the same but I dont know how it can be effectively policed.

    Better for who???? Are you going to increase salaries by over 60% now to compensate for the fuel increase, devaluation etc.

    YES no easy choices BUT floating the Naira is NOT in the interest of the common man!

    Priorities need to be set! No one operates a FREE market in the true sense of the world.

    I hope that the discipline that is leading to increase in excess crude oil account will continue.


  • Re: State of the Nation Post #283136
    Posted at: 12:49 pm, 26th Jul 2016
    by wanaj0. SMN . Joined: 9th April 2007. Thanked 369 times.

    overload;283126 wrote:
    EXCLUSIVE: Documents trace whereabouts of ‘missing’ $7.8bn NLNG dividends

    https://www.thecable.ng/exclusive-documents-trace-whereabouts-missing-7-8bn-nlng-dividends

    Which dividends be this again???? Na wa ooo

    How can you pay $7.85bn to Brass LNG? Brass LNG never took FID. Abeg, make them look for another story.

    BTW, no money was missing. Money was spent QED.


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