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  #7941 (permalink)  
Old 9th January 2013, 06:46 AM
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Default Re: Economicwatch

Quote:
Originally Posted by hispy99 View Post
I believe Ibeto should be encouraged to build his cement company but can still import until then to prevent escalating the price of cement because we are not there yet.
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  #7942 (permalink)  
Old 9th January 2013, 08:47 AM
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Default Re: Economicwatch

Corruption Under Jonathan Is Too Much - Obasanjo | Leadership Newspapers

Did Obasanjo actually say this?
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  #7943 (permalink)  
Old 9th January 2013, 09:00 AM
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Default Re: Economicwatch

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Originally Posted by Waves View Post
Obj is only stating the obvious....even my Three years old boy knows that Corruption under the present regime in unprecedented.

But then Obj should also hold his head in shame and go to seek forgiveness from God cos he was the person that sowed the seed and added fertliser to this corruption seed that has now grown to this present size in Naija!
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  #7944 (permalink)  
Old 9th January 2013, 09:14 AM
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Default Re: Economicwatch

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Originally Posted by Waves View Post
That was not Obj's exact statement. Besides whatever he said should be understood in the wider context of 2015.
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  #7945 (permalink)  
Old 9th January 2013, 11:56 AM
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Default Re: Economicwatch

Quote:
Originally Posted by dr dowell View Post
I believe Ibeto should be encouraged to build his cement company but can still import until then to prevent escalating the price of cement because we are not there yet.
Nobody discouraged him from building his own cement plant, but it is easier, cheaper and more profitable to import cement into the country than to manufacture.
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  #7946 (permalink)  
Old 9th January 2013, 12:47 PM
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Default Re: Economicwatch

Nigeria owes China $6.2bn – Investigation — The Punch - Nigeria's Most Widely Read Newspaper
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  #7947 (permalink)  
Old 9th January 2013, 01:01 PM
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Default Re: Economicwatch

Apapa, ports collapse, despite concessioning,
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  #7948 (permalink)  
Old 9th January 2013, 04:59 PM
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Default Re: Economicwatch

Quote:
Originally Posted by dr dowell View Post
I believe Ibeto should be encouraged to build his cement company but can still import until then to prevent escalating the price of cement because we are not there yet.
If the man no wan build nko? Not everyone wants to be a manufacturer na
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  #7949 (permalink)  
Old 9th January 2013, 05:11 PM
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Default Re: Economicwatch

Quote:
Originally Posted by hispy99 View Post
If the man no wan build nko? Not everyone wants to be a manufacturer na

When the Backward programme was initiated by Obasanjo, you can only import cement into the country if you have a plan to set up a cement plant in the country. These cement importers were given a period of grace to establish their plants.

It was during this period that Dangote established cement plants in Kogi, Ogun and bought Benue Cement company. WAPCO increased their capacity at Sagamu and Ewekoro. Ashaka equally increased her capacity, UNICEM a subsidiary of Flour mill also increased their cement manufacturing capacity. Ibeto did not increase his own capacity, but focused more on importation of cement into the country. At the expiration of the period of grace, people like Ibeto that refused to invest in cement manufacturing were prevented from importing. It the government of GEJ that restored his license to import cement.

How can we create jobs when import commodities that are readily available into the country?
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  #7950 (permalink)  
Old 9th January 2013, 05:15 PM
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Default Re: Economicwatch

Quote:
Originally Posted by emmanuel ewumi View Post
When the Backward programme was initiated by Obasanjo, you can only import cement into the country if you have a plan to set up a cement plant in the country. These cement importers were given a period of grace to establish their plants.

It was during this period that Dangote established cement plants in Kogi, Ogun and bought Benue Cement company. WAPCO increased their capacity at Sagamu and Ewekoro. Ashaka equally increased her capacity, UNICEM a subsidiary of Flour mill also increased their cement manufacturing capacity. Ibeto did not increase his own capacity, but focused more on importation of cement into the country. At the expiration of the period of grace, people like Ibeto that refused to invest in cement manufacturing were prevented from importing. It the government of GEJ that restored his license to import cement.

How can we create jobs when import commodities that are readily available into the country?
Is it fair when companies like WAPCO, Ashaka, UNICEM and Dangote got loans running into billions of dollars in order to increase their local production, and a competitor like Ibeto who preferred to only focus on cement importation and yet wants to derive the benefits that those who increased their local production are entitled to.
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  #7951 (permalink)  
Old 9th January 2013, 05:24 PM
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Default Re: Economicwatch

Quote:
Originally Posted by emmanuel ewumi View Post
Is it fair when companies like WAPCO, Ashaka, UNICEM and Dangote got loans running into billions of dollars in order to increase their local production, and a competitor like Ibeto who preferred to only focus on cement importation and yet wants to derive the benefits that those who increased their local production are entitled to.
As they say, government giveth and government taketh
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  #7952 (permalink)  
Old 9th January 2013, 05:29 PM
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Default Re: Economicwatch

Quote:
Originally Posted by hispy99 View Post
As they say, government giveth and government taketh
I don't have the guideline for the backward integration programme, but what a manufacturer can import was tied to what he can produce locally. That is if i produce 10 million tonnes locally, i will be entitled to import may 5 million tonnes to cover the shortfall for local consumption. But this guy is not producing, so he is not entitled to importation of cement. But Jonathan changed that some few months ago.
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  #7953 (permalink)  
Old 9th January 2013, 05:56 PM
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Default Re: Economicwatch

Quote:
Originally Posted by emmanuel ewumi View Post
When the Backward programme was initiated by Obasanjo, you can only import cement into the country if you have a plan to set up a cement plant in the country. These cement importers were given a period of grace to establish their plants.

It was during this period that Dangote established cement plants in Kogi, Ogun and bought Benue Cement company. WAPCO increased their capacity at Sagamu and Ewekoro. Ashaka equally increased her capacity, UNICEM a subsidiary of Flour mill also increased their cement manufacturing capacity. Ibeto did not increase his own capacity, but focused more on importation of cement into the country. At the expiration of the period of grace, people like Ibeto that refused to invest in cement manufacturing were prevented from importing. It the government of GEJ that restored his license to import cement.
How can we create jobs when import commodities that are readily available into the country?
It was actually restored during Ya'adua's time. But GEJ was VP then, so i dont know whether that helps

FG Re-opens Ibeto Cement In Port Harcourt
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  #7954 (permalink)  
Old 10th January 2013, 06:54 AM
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Default Re: Economicwatch

Re: Claims of Manipulation of Information about Stock Pile Up Misleading - Proshare
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  #7955 (permalink)  
Old 10th January 2013, 09:49 AM
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Default Re: Economicwatch

Quote:
Originally Posted by Waves View Post
It was actually restored during Ya'adua's time. But GEJ was VP then, so i dont know whether that helps

FG Re-opens Ibeto Cement In Port Harcourt

Yar' adua, reversed some of the economic policies of Obasanjo. He also reversed the sale of our refineries to private investors.
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  #7956 (permalink)  
Old 10th January 2013, 04:31 PM
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Default Re: Economicwatch

US oil imports to fall to lowest in 25 years - CNN.com
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  #7957 (permalink)  
Old 10th January 2013, 04:31 PM
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Default Re: Economicwatch

US govt forecast that by 2025 US should join the League of oil exporter and with the Technology leverage US has she can even tap in shale formation coupled with being the major Global buyer of Crude oil so I expect a glut in the oil market and possibly a reversal of fortune for OPEC members..
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  #7958 (permalink)  
Old 10th January 2013, 04:44 PM
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Default Re: Economicwatch

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Originally Posted by emmanuel ewumi View Post
US govt forecast that by 2025 US should join the League of oil exporter and with the Technology leverage US has she can even tap in shale formation coupled with being the major Global buyer of Crude oil so I expect a glut in the oil market and possibly a reversal of fortune for OPEC members..
no worry.. by 2025; we would not be bothered by the oil comsumption of the US cos their economy wont be a force to reckon with.

A lot more countries like China, India, Brazil and the rest will still need our oil
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  #7959 (permalink)  
Old 10th January 2013, 04:47 PM
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Default Re: Economicwatch

Quote:
Originally Posted by overload View Post
no worry.. by 2025; we would not be bothered by the oil comsumption of the US cos their economy wont be a force to reckon with.

A lot more countries like China, India, Brazil and the rest will still need our oil

We need to make good use of the wealth we are getting from crude oil. Crude oil we not be for ever.
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  #7960 (permalink)  
Old 10th January 2013, 06:04 PM
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Default Re: Economicwatch

Quote:
Originally Posted by overload View Post
no worry.. by 2025; we would not be bothered by the oil comsumption of the US cos their economy wont be a force to reckon with.

A lot more countries like China, India, Brazil and the rest will still need our oil
I disagre with you completely
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