Guys, nice to know about all these stock tips you have all been providing, but I would like to know a bit more about insurance stocks, are they worth it, if they are which ones are a good buy,

someone recommended Prestige and WAPIC,

I was initially looking at cornerstone but am not so sure as on this board people have sometimes been negative about it, not really sure why,

Please any infoo you have on insurance is welcome

@Denex

if I remember correctly I said Inflationary rate was in double figures, I think an inflationary rate of 10.5% does represent double digits, that's when you came up with mumbo jumbo of if it changed by 10% it would change the forex rate as well, please who the hell asked for that, inflationary rate is in double digits, u either agree or u don't, no one asked  what it has increased or decreased by,

Wikipedia, Book of knowledge, world book, you missed the point, you can choose not to accept the facts from the site and bury your head in the sand, I believe that is your own kettle of fish,

what we have to do is look at the facts at hand, the Guy did not rape, at least it has not been roported he did, neither did he bite or scratch
if you remember 2 years ago a brazilian was killed innocently on the london underground after being mistaken for a terrorst, his parents were here in London a week later and said they must be adequately compensated for the loss of their son

no one berated them for that, fine maybe the Nigerian Timing is a bit early and then they do see an opportunity to make money, but does the level of the desperation not reflect the state of affairs in the country, in a country where a quick buck or 2 is the only way forward, try and imagine the desperation that must have made the guy risk his life,

do you know there are guys in this country that survive on 10 000 naira a month, now tell me how the hell the guy is going to make do with that, if nothing else he will resort to thuggery become an area boy or in the case of Osamuyi seek his fortunes over the high seas

what we have to focus on, is that the boy is dead and it is a tragedy, may his soul rest in peace

come on, even you can muster an , AMEN!!!

@Bankole01

I understand what you are saying, but no where does it say this guy had stolen money and was flashing it around, no where does it say he was boasting of being a prince or princess, if he was I doubt if spain would have been his destination in the first place,

no where does it say he had embezzled money from projects, I think the point here is being missed

we have to understand that 2 wrongs don't make a right, fine he is an illegal immigrant and for that reason he deserves to be deported, which he was, but please tell me, what was his crime for being killed,

what did he do that could possibly warrant death,

why was he gagged and tranqulized, becos he might use the Jedi mind trick on fellow passengers and invite them to free him, I think not,

the guy has broken the law, and the punishment is deportation, not death, can u imagine the backlash if we depoted a European and he died on the way, forget death, if he was gaged and blindfolded and had a paperbag over his head, can you imagine the backlash?

can you imagine the last few hours of this man's life, regurgitating on his own salive and drowning in his own vomit, beleive me, that is what happens when you suffocate

the punishment for what he did is deportation, not death, to terminate his life and terminate it in such a cruel manner shows a total disregard for the boy, yet we have his kinsmen blaming him, all he wanted to do was to look for a better way to sustain himself and his dependants,

the people who have stolen money provided an environment which was unbearable for the boy to survive, and he sought a way out, now you blame him, is this not a case if shooting the messenger,

just try and imagine if he was your relative, would you say this same thing to your mother if this happend to your sister, you said look within and look at mirror, I think you should too as well

@Denex

For starters let me explain certain things to you in case you don't know.
In mainstream economics, the word “inflation” refers to a general rise in prices measured against a standard level of purchasing power. Previously the term was used to refer to an increase in the money supply, which is now referred to as expansionary monetary policy or monetary inflation. Inflation is measured by comparing two sets of goods at two points in time, and computing the increase in cost not reflected by an increase in quality. There are, therefore, many measures of inflation depending on the specific circumstances. The most well known are the CPI which measures consumer prices, and the GDP deflator, which measures inflation in the goods produced.

you made mention of an exchange rate of 149.70 if inflation rate is 10%, please let me correct you Inflation rate is totally different form the foreign exchange rate, I think you got your marbles crossed there when trying impose and highlight your intellect, sorry about that


I never make mention of things without facts to back them up

Nigerians current inflation rate as regards to consumer prices is at 10.5%, please check this site for proof

http://www.indexmundi.com/nigeria/inflation_rate_(consumer_prices).html

the fact you are from Benin does not neccesarily negate the fact your views are distorted just because the victim is also from Edo state, it does not matter where you are from, so please stop spamming the board with your house address, it just makes people realise you are trying to impose a populist view to suit your argument

so even in death you expect nothing to be done, then what does it take, I guess I now understand why even though Abiola and his wife were murdered the band still goes marching on,

its not just about money, you think if you ask the relatives if they wanted their child back or the money that they would still wish for the money, then in that case Benin must be a breeding ground for soci-paths, although I beg to differ,

it is as Fela kuti once said    " policeman go whip your yansh u no go talk" at some point we need to make and take a stand, it is a pity that a boy had to die for it to get to this, but I rather you join them and ask for justice, if not I suggest you be on your way!!!

and please, please, make sure you understand inflationary rates before you post!!!

@denex

why don't you look at it this way: if this same Government was incorruptible and transparent maybe they would have provided a much better environment for the guy to live and work in, did you ever consider that, why would a man mortgage off his assets and leave his loved ones to venture into the unknown, does this not spark of desperation, my friend this is the reality facing many nigerians, so I think you better wake up from lalala land and look around you, you might have the luxury or luck of finding yourself in the position of being able to survive in that country but many others don't, and when I say many other I mean at least 60% of the population.

No Light , No water, infant mortality rate is the 5th highest in the world
Bad roads, corrupt officials, no accountablity whatsoever from anyone
Inflationary rates in double figures, exchange rate through the roof!!!
and yet you wonder why he risked his life to search for something better


This is the same Government you are so willing to patronise, is that not psychophancy on a grand scale, please let's not delude ourselves
I ask why did he not leave sooner??

even though you call yourself a Nigerian, why did you have to resort to tribalism and mass generalize "Bini Boys"

and again no one is asking why they dragged him back, i think you missed the point, which was and is the inhumane way he was treated, why was he gagged and tranqulized, is he a dog, it is easy for us to be on the moral high chair now and play armchair critic, just imagine if it was your sister or uncle or friend, would you still take this position, or would you see the double standards being portrayed by the European union countries

This guy is dead, do you hear that, DEAD, he ain't waking up tomorrow, he is gone, he did not die in the desert, not in the water, nor in the country he made it to, he died at the hands of the law enforcers in that country, the fact that there are bodies littering the canary islands does not justify why he should die at the hands of spanish authorities,

and on a moral note, you should at least have some respect for the dead, cos it could have been on of your family or friends, if you can't see it that way then, personally I think you are a fucking idiot!!!!!!

This is just plain appalling


http://www.nigeriavillagesquare.com/articles/newsflash/nigerian-citizen-gagged-and-killed-by.html




We, the undersigned write to strongly protest the horrible and dehumanizing death of a Nigerian citizen, Osamuyia Aikpitanhi in the hands of Spanish law enforcement agents on June 9, 2007.

In a bid to deport Mr. Aikpitanhi from Spain to Nigeria , We understand that Spanish law enforcement agents employed measures that were unreasonable, inhumane, illegal, and, ultimately, fatal. According to reports, Spanish law enforcement agents arrested Mr. Aikpitanhi, beat him, bound his hands and legs firmly with ropes, and put a gag over his mouth. The Spanish Officials then loaded him like an animal onto an Iberia aircraft bound for Lagos , Nigeria . Finally, the law enforcement agents covered him with a sack in order to prevent other passengers traveling on the aircraft from observing the undignified and inhumane manner in which Mr. Aikpitanhi was restrained. Mr. Aikpitanhi, a human being, was treated worse than an animal.

Shortly after the aircraft became air borne, Mr. Aikpitanhi died. He died an inhuman death, bound, gagged and soiled in his own waste. Apparently, he choked on the gag that the law enforcement agents had put on him. The Spanish law enforcment agents murdered Mr. Aikpitanhi.

The Nigerian community worldwide is shocked and appalled that Spain, a member country of the European Union and a signatory to the European Convention on Human Rights, would permit her law enforcement officials to conduct themselves in the macabre fashion that that are in complete contravention of all International Human Rights Instruments and their protocols. Arrested persons have rights and are indeed presumed to be innocent until proven guilty by a competent court of law. And, even in the event of conviction, are entitled to decent and humane handling in transit in conformity with the International Declaration of Human Rights as well as treatment that conforms with human decency.

While in general, the laws of most countries recognize that law enforcement officers may use reasonable restraints to effect the arrest of a suspect, depending on the circumstances, legal standards prescribe that every measure taken should be reasonable. Gagging a suspect to death is extreme, inhumane, and unacceptable in any modern jurisdiction.

Moreover, although the Spanish Government has the right and duty to protect Spain 's borders and enforce its immigration laws, it has become increasingly obvious that Spanish law enforcement agents take a perverse pleasure in treating Nigerians and other Africans inhumanely. There appears to be a practice of consistent negative, racist, and discriminatory treatment of Nigerians and other Africans by Spanish law enforcement agents. Mr. Aikpitanhi's murder is only the latest example of this practice.

We hereby PROTEST in strong terms this brutal death in custody of Mr. Aikpintanhi, and make the following demands:

 THAT: the Spanish Government immediately take measures to put an end to the practice of inhuman treatment meted out to citizens of Nigeria and others from third world countries.
 THAT: the deaths, the beatings, the torture, and all other forms of inhumane treatment be immediately put to a stop.
 THAT: an independent investigation be immediately opened into the circumstances leading to Mr. Aikpitanhi's murder.
 THAT: an immediate apology from the country of Spain , be made to the family of Mr. Aikpitanhi
 THAT: an inquiry into the criminal negligence that led to this brutal death be conducted and ensure the prosecution of all the culprits responsible for this reprehensible act.
 THAT: appropriate compensation be paid by the Spanish Government to the next of kin and survivors of Mr. Aikpitanhi.
 THAT: an apology be tendered by the Spanish authorities to the next of kin, parents and or other survivors of Mr. Aikpitanhi and to Nigeria .

http://www.thisdayonline.com/nview.php?id=80729

and these idiots all claimed they were innocent that it was a witchhunt, how does a witchunt uncover 100 billion in looted funds, what a bunch of bandits , they really put Alibaba and the forty thieves to shame






The on-going interrogation of former state governors by the Economic and Financial Crimes Commission (EFCC) may have started yielding dividends. The commission has recovered assets of some of the former state chief executives worth over N100 billion, THISDAY was informed yesterday. It has also emerged that the commission has not entered into any deal not to prosecute former governors who forfeit their loot.
Also yesterday, the commission interrogated the former governor of Lagos State, Senator Bola Ahmed Tinubu, over his stewardship. Tinubu, according to information available to THISDAY, left his Bourdillon Road residence in Ikoyi, Lagos, in the early hours of yesterday for Abuja to honour the EFCC invitation. Tinubu was supposed to have appeared before the EFCC panel last week but he wrote to request for a shift of the interview till yesterday, citing busy schedule as his reason.
Assets forfeited by some of the former governors include estates, hotels, hospitals, cash and other investments both in Nigeria and abroad. However, an EFCC official told THISDAY yesterday that there was no truth in the report that the commission had entered into a bargain with the former governors not to prosecute them in exchange for forfeiture of assets.
"Forfeiture of assets is a completely different issue from prosecution," the official said. "We will take everything step-by-step. Those who have failed to convincingly answer our questions will be charged to court after the whole process of interrogation. We have always insisted we will follow the rule of law over the matter."
Tinubu's appearance before the commission doused rumours that he might not honour the invitation extended to him.
EFCC boss, Mallam Nuhu Ribadu, had earlier this year said the commission was investigating Tinubu in a case that had an “international dimension”. The Code of Conduct Bureau (CCB) also accused Tinubu of operating some 16 foreign accounts in the names of his wife and children, as against the provisions of the 1999 Constitution which bars serving public officials from operating accounts outside the shores of Nigeria. Tinubu has denied these charges repeatedly.
It was not clear yesterday if these allegations formed the basis for the questioning of the former governor. The atmosphere at the Alausa, seat of Lagos government, changed following initial rumours that Tinubu was arrested by EFCC operatives.
Some Lagos lawmakers and top functionaries of government were moody as they discussed the development. The lawmakers and some democracy activists, were billed to host the former Governor today in commemoration of his contributions to the struggle for the sustenance of democratic principles in the country. They expressed worries that the EFCC may have scuttled their arrangements.
Tinubu had on the eve of his departure from the seat of government said he had a clean record in office. He challenged the EFCC, the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Code of Conduct Bureau (CCB) and other agencies of government to provide evidence of his wrong doings while his eight-year tenure lasted. He vowed not to flee, saying he would remain in the country to fight oppression.
“Shame on them, let them show the accounts. I am an accountant and I have trained my children to be prudent. I cannot be intimidated. Shame on them. I am not going anywhere, I remain with you. Don’t believe any rumour. I am around, my records are clear, I have nothing to hide”, Tinubu had declared while handing over the state to his successor, Babatunde Fashola (SAN), a forthnight ago.
When contacted to comment on the development yesterday, counsel to Tinubu, Mr. Wole Olanipekun (SAN), who spoke with our correspondent on phone, confirmed that Tinubu was not arrested. He explained that Tinubu had only gone to the EFCC to honour the invitation sent to him.
“He was not arrested. He went on his own. When he asked me, I told him to go and see them. He was invited like other former governors who had been there to answer the EFCC call," he said.
THISDAY was told that Tinubu had a marathon session with the commission's investigative panel in Abuja, lasting about eight hours. It ended at about 5 pm.
Two governors were scheduled for interview yesterday: Tinubu and the former governor of Benue state, Chief George Akume. However, owing to the fact that the former Lagos state governor took most of the available time, Akume was asked to report back today.
It was also revealed yesterday that the former governors of Akwa Ibom, Obong Victor Attah and his Ebonyi state counterpart, Dr. Sam Egwu, were yet to appear before the EFCC as erroneously reported by THISDAY yesterday. They could, however, be invited later as the interviews are being conducted in batches, according to an EFCC official.
So far, the EFCC has quizzed about seven governors out of a total 15 billed to be questioned. Among ex governors so far interrogated are Dr. Peter Odili of Rivers state, Chief James Ibori (Delta), Rev. Jolly Nyame (Taraba), Alhaji Saminu Turaki (Jigawa), Alhaji Ahmed Sani Yarima (Zamfara), Senator Tinubu and Chief George Akume (Benue).
Another former governor among those being awaited at the EFCC office for questioning, Chief Lucky Nosakhare Igbinedion, yesterday refuted rumours that he was on the run. In a statement from his close friend made available to THISDAY, he said he was not on the run and would as a matter of fact return to Nigeria this week.
He said Igbinedion's attention had been drawn to a news report that he ran away from the country to evade inquisition by the EFCC and explained that the ex-governor only travelled for "a deserved rest shortly after the inauguration of the new administration in Edo State."

http://www.thisdayonline.com/nview.php?id=80293



Former Vice-President, Alhaji Atiku Abubakar, agreed to accept a bribe in the form of a percentage in order to assist United States Congressman, William Jefferson, secure a business deal in Nigeria, according to the US Grand Jury report which indicted Jefferson for racketeering, soliciting bribes, wire fraud, money-laundering, obstruction of justice, conspiracy and violations of the Foreign Corrupt Practices Act.
Giving a blow-by-blow account of Jefferson’s dealings, the 94-page indictment entitled "United States of America V William J Jefferson" which referred to Atiku as a “Nigerian Official A… a high-ranking official in the executive branch of the Government of the Federal Republic of Nigeria” who "acted in an official capacity for and on behalf of the Federal Republic of Nigeria" revealed that the Congressman received the sum of $100,000 from his cohorts meant as bribe money for the former vice-president.
Atiku has, however, consistently denied asking for or receiving bribe in the deal which had sparked off an investigation of the US congressman.
The Nigerian aspect of the investigation led to the indictment of Atiku by the Economic and Financial Crimes Com-mission (EFCC), an Admin-strative Panel of Inquiry headed by Chief Bayo Ojo as well as two panels set up by the last Senate over the management of the finances of the Petroleum Technology Development Fund (PTDF).
The grand jury indictment said: “On or about July 18, 2005, following the meeting with Nigerian Official A, Defendant Jefferson and CW traveled from Potomac, Maryland, to Mclean, Virginia, where Defendant Jefferson informed CW (co-operating witness) that, during his private meeting with Nigerian Official A, Defendant Jeff-erson had offered, and Nig-erian Official A had agreed to accept, a bribe in the form of a percentage of the profits generated by the Nigerian Joint Venture in exchange for Nigerian Official A’s official assistance in securing necessary approvals from NITEL.
“On or about July 30, 2005, in Arlington, Virginia, Defendant Jefferson received $100,000 in cash from CW for delivery by Defendant Jefferson to Nigerian Official A… On or about July 30, 2005, following the meeting with CW, Defendant Jefferson drove his car with the $100,000 in cash from Arlington, Virginia, to his residence in Washington D.C.”
Although the report did not indict Atiku personally, it gave further details of what transpired between him, his wife and the US Congressman. In one instance, page 26 of the indictment stated that Jefferson suggested ways in which the bribe money could be received by Atiku’s wife who the report says “lived in Potomac, Maryland.”
“On or about June 8, 2005, in Washington D.C, Defendant Jefferson explained to CW potentials ways in which Nigerian Official A could receive the bribe payments, such as through making payments to a charitable foundation run by Nigerian Official A’s spouse and giving Nigerian Official A a share of the profits from the Nigerian Joint Venture.”
It also said Jefferson had a meeting with Nigerian Official A’s spouse where he discussed with her the threat posed to the Nigerian Joint Venture by a Chinese company and therefore requested a meeting with "Official A", promising to “provide things of value” to the official.
According to the report, investigations began when "CW", who is also a businessman, reported a suspected fraud involving iGate, Vernon Jackson (then CEO and Chairman of the Board of iGate, a Louisville, Kentucky telecommunications firm) and Jefferson to the Federal Bureau of Investigation (FBI) in or about March 2005. "CW" thereafter acted as cooperating witness for the government.
Earlier in August 2004, Jefferson, "CW", "Nigerian Businessperson B" and others negotiated "a joint venture agreement between different companies to pursue a telecommunications business in Nigeria using iGate technology and equipment. The joint venture required a high-ranking Nigeria official to direct NITEL to provide it with access to telephone lines in the country."
"CW", according to the report, said there was no need to bribe "Nigerian Official A" because "Nigerian Businessperson B" had reached an agreement with NITEL. But it would appear Jefferson did not want to take chances. As a result, he allegedly discussed the possibility of paying bribes with "CW".
“On or about May 31, 2005, in Washington D.C., Defendant Jefferson discussed with CW the possibility of paying bribes to Nigerian government officials to advance the Nigerian Joint Venture, stating “I would rather take care of it, rather than have [Nigerian Businessperson B] take care of it….I’m talking about with elected people and big shots, okay?”
Thereafter, Jefferson composed a letter on congressional letterhead addressed to "Nigerian Official A" which among other things: “(a) requested that Nigerian Official A intervene with NITEL to secure the Nigerian Joint Venture’s right to co-locate its equipment at NITEL facilities and use NITEL’s telephone lines; (b) sought a meeting with Nigerian Official A during that official’s trip to the United States in July 2005.”
Or about June 21, 2005, Jefferson had the letter delivered to Nigerian Official A’s Spouse. The letter allegedly gave details of financial projections of revenue to be generated by the Joint Venture and profits to be made.
The first meeting between Jefferson and "Nigerian Official A" took place on or about July 18, 2005 at the residence of "Nigerian Official A" in Potomac, Maryland. There, Jefferson “offered to pay a bribe to induce him to use his position to assist in obtaining commitments from NITEL for the benefit of the Nigerian Joint Venture,” said the report.
It was after this meeting that Jefferson, according to the report, said "Nigerian Official A" had agreed to accept the bribe money. He assured his cohorts that they had secured a business deal, having spoken with Nigerian Official A.
“On or about July 21, 2005, in Washington D.C., Defendant Jefferson assured CW that they had “a deal with [Nigerian Official A],” explaining that the bribe to Nigerian Official A would consist of: (a) front-end payment of $500,000 to Nigerian Official A that would ensure that the “little hook is in there”; and (b) a “back-end” payment of at least half of Nigerian Company B’s shares of the Nigerian Joint Venture’s profits.”
On or about July 30, 2006, Jefferson received the $100,000 meant for Nigerian Official A. On August 3, 2005, the report says Jefferson wrapped $90,000 of the $100,000 bribe money in aluminum foil and hid it in the freezer of his Washington D.C. apartment, inside various frozen food containers.
It also revealed that Jefferson had corruptly agreed to receive things of value from Companies D and E to be paid through a family member, in the form of percentage share of the contract price for Companies D and E to perform a feasibility study and possible future construction of a sugar plant in Jigawa State, bribe from Companies D and E for assistance to advance their effort to obtain contracts to develop various food processing facilities in Kaduna State and bribes from Company F in return for assistance to advance Company F’s efforts to obtain rights to develop marginal oil fields in Akwa-Ibom State.
At the end of the report, Jefferson was indicted on 16 charges but "Nigerian Official A" was not. This may be due to the fact that Jefferson was treated as a “domestic concern” while Nigerian Official A was a “foreign official.”
But when THISDAY contacted the US Ministry of Justice, a spokesperson noted that investigations were still “on-going and that there’s a possibility that others could be indicted in the future.”

she's a woman and she wears glasses!!

QUOTE:The same David Mark once said " that telephone was not for the poor"

if only he can see now how many people in Nigeria are using mobile phones, visionless Bastard!!!

but do you guys think he is up to the job?

I heard he did receive a scare with the nomination of Akume, that he was not to happy with that, did he expect to contest unopposed or what does he think democracy is all about

Mind you David Mark was the once erstwhile Minister of communication that said "Telephone is not for the poor" if only he knows now how many people of different classes subscribe to GLO, MTN and Cellnet, what a visionless bastard.!!!!, and he is the one that has now been made Seantor of the Federal Republic of Nigeria, a so called IBB Boy!!!

I heard this from a reliable source, though it is from the grapevine, but nevertheless a reliable source, I heard that senators that just got elected were allocated 150 million Naira for housing allowance and 50 million Naira for Car allowance,

do you guys think this is too much or it is okay so that the senators will be incorruptible

it has now been confirmed that David Mark is the new Senate president, What are your views on the guy do you think he will be a stalwart like Ken Nnamani

your views please!!

has the shit finally hit the fan,


http://www.guardiannewsngr.com/breaking_news/article01

Transcorp begins unbundling of NITEL


About seven months after acquiring the premier telecoms company, NITEL, Transnational Corporation has mapped out strategies to "unbundle'' the company to other investors. Under the arrangement, the exchanges of the premier telecom company will be managed by smaller companies while the company's network will be shared with vendors. Investigations by the News Agency of Nigeria (NAN) showed that the decision to unbundle the company was taken at a board meeting held in Abuja last week. A source at the NITEL headquarters said the company had already entered into discussions with PTO's over the exercise. The source said that the telecoms company had been having problem managing the ailing network and had not been able to generate enough money to ensure its revival. The source said the company had decided to go into partnership with some international telecom vendors for the maintenance of the network, which will involve sharing of the proceeds with NITEL.The source was, however, not sure whether the SAT-3 under- sea cable would be part of the segments to be leased out to other operators. Investigations also show that the company had not restored its pre-paid platform, which crashed two years ago. NITEL Spokesman Bala Abdulkadir told NAN in a statement issued in Abuja that "NITEL will partner with vendor companies on network maintenance contracts''. He said the partnership was "designed to ensure optimal network availability, zero tolerance for network failure and improved revenue. Marketing and sales initiatives will be overhauled and rejuvenated to meet today's challenges of the telecoms industry, while part of the strategies will result in NITEL's major competitors becoming collaborators," he said. ''Transcorp's effort to raise funds to turn around the fortune of the company had met with difficulties, resulting in the board and management looking inward in order to be remain relevant.

@Bankole01

here is an extract from the article in which they propose to train adequate proffessionals in 3 locations over a 10 year period


aproximately 800 to 900 staff would be required to efficiently operate a 1000MW nuclear power reactor.
Of this number, about 40 may be core nuclear engineers and scientists while another 300 may be professional engineers scientists and technologists with substantial training in various areas of nuclear technology.
He said the categories of professionals to be trained will span the whole gamut of the nuclear power industry, reactor physicists, nuclear engineers, nuclear physicists, radiochemists, electrical, mechanical, chemical and civil engineers, health physicists, radiation protection and safety personnel.
The capacity training is to be undertaken at three centres located in Ahmadu Bello University, Kaduna, Obafemi Awolowo University, Ile-Ife and Shedda Science and Technology Centre in Abuja.


They cannot even boast of decent graduates who speak proper english talk less of radiochemists, physicists and Engineers!!!!

@angel101

I think I agree with you, any kind of electricity will do, even if it is windmill operated,

@wa_do_moi

I think what Larufa was referring to is before going on these grand Projects, maybe we should sort out basic things such as transport, water, nitel and other basic ammenities that touch the average Nigerian, he did not mean it that he did not want us to advance I think he just wanted us to take the proper steps and grow before embarking on megalomaniac projects such as nuclear power when we cannot even provide and manage thermal power!!!

By the way "wa_do_moi" strange nickname, pretty suggestive, it might make people have the wrong impression!!!

below is an interesting article I just read, just wondering if the current situation in which the government cannot provide and distribute electricity by more conventional means but yet are bullish that they will attain nuclear powered electricity in just 10 years,

what do you think, true or just another Government Propaganda!!!


http://www.thisdayonline.com/nview.php?id=79079

Just wondering if anyone has any information on Guaranty Trust Assurance Shares I know they did a private placement for their staff a few months back and I know it is not listed on the NSE as in it is not being traded, but some of the staff might be willing to part with some of their shares if anyone has any infor as regards to this please let me know as I am quite interested in it.

if anyone has any information on Stockbroking house that might be dealing with sales of GTA shares please let me know.

@ijogbon

Very well put, at least if the army come, Nigerians have something to fight for, the backlash will be so severe and then there is the alienation from the international community.

I hope nigerians put up a good fight if they ever try and come back, anyway I also hope the politicians try and govern well and they put through good legislation, anyway my papa don become senator and he has a very good pedigree, I know he will try his best when called upon especially in the financial sector!!

long live Nigeria

but the thing about it that i like is that it is not just foreign comapnies investing in Nigeria, our people like Dangote and Otedola are buying in refineries and AP and doing cement, this shows commitment which would encourage the likes of Tmoni to part with their money in to Access bank, this will create a ripple effect which will attract more investors, if this keeps on going and legislation is right, and they try and curb corruption and improve social ammenities such as mortgages ,loans, water supply, transportation and the almighty electricity, who knows Nigeria might emerge in about 20 years, fingers crossed

I just hope those fucking military don't come back and ruin things!!!!

@The One


I like your style and other contributors here I also admire your enthusiasm. Most houses in England cannot be bought with cash outright so people go for mortgages, In Nigeria the mortgage market is almost non-existent but theses issues are being addressed.

I don't know why there are some Peopleon here who seem to have a pessimistic view about Nigeria moving forward and picking holes in the administration, the bottom line is this , Obasanjo is not the most honest or smartest of people but the truth is the country is better today than it was 10 years ago whether you admit it or not, that is the truth

you can hide and complain and whinge and stay in London or america wherever you are and just generally be an armchair critic we all have to do our bits to make the thing go forward

I invest in the stock Market in Nigeria, which I see as my contribution albeit I do have the intention of making a gain, who does not, But the bottom line is I will rather buy shares in Nigeria than London,

These things are not done overnight, Rome was not built in a day, by the time they tackle power , water, transportation all this will reflect on the average person, as they say, the fish rots from the head first, so we have to tackle things such as banking infrastructure which is the bedrock of the financial markets, tackle corruption, tackle Oil our main source of income, and then tackle communication Power water and other social ammenities,

it is not easy, it is a plan that will take years and years, but the bottom line is we are now a democracy and we are on the way,

why were people not critical when Abacha was there or babangida, now they open their mouths and yap rubbish, it is easy to criticize and beleive me it is your divine right, but I would rather work with those who work to find a solution, not just bloody armchair critics,

Dangote, Otedola, Transcorp Buy PH Refinery for N72bn
Posted Thursday, May 17, 2007
Bluestar Oil Services Limited Consortium, a Nigerian consortium comprising Dangote Group, Zenon Oil, Transnational Corporation of Nigeria (Transcorp) and Rivers State government yesterday emerged the preferred bidder/core investor for Port Harcourt Refinery Company. The consortium submitted a bid of $561 million (N71.808 billion) for 51 per cent of Federal Government’s equity in the ailing crude oil refining company.



The sale of the refinery, however, comes against the backdrop of protest by National Union of Petroleum and Natural Gas Workers (NU-PENG), which members yesterday shut down operations of the Nigeria National Petroleum Corporation (NNPC) Lagos, Port Harcourt, Mosimi and Kaduna.



But the transaction for the Kaduna Refinery and Petr-oleum Company (KRPC), which received only one bid for 51 per cent Federal Government’s stake was not concluded as China National Petroleum Corporation offered $102 million, which was below the reserve price. The offer by the Chinese firm would have to be ratified by the National Council on Privatisation (NCP).



Bluestar consortium immediately paid $300 million, re-presenting more than 50 per cent of the bid price for the company, in line with the payment mechanism of the Bureau of Public Enterprises (BPE) for the transaction. The consortium is expected to pay the 50 per cent balance of the purchase consideration into a designated account by 4 pm of the seventh working day immediately following the official notification of a successful bid.



The sale of the Port Harcourt Refinery, which involved Oando Plc and Refinee Petroplus Nigeria Limited as bidders was part of the financial bids opening for 18 transactions conducted inside the Congress Hall of Transcorp Hilton Hotel, Abuja. Oando and Refinee Petroplus were, however, disqualified for failing to include a draft of 50 per cent of their bid prices in the envelopes submitted to BPE.



The 18 transactions included Lagos International Trade Fair Complex; National Arts Theatre and Tafawa Balewa Square; Egbin Power Plc; Onigbolo Cement Company, Benin Republic; Ayip-Eku Oil Palm Company; eight Liquefied Petroleum Gas depots; Ajaokuta Steel Complex, Coal Blocks and Mining Titles.



Onigbolo Cement Company of Republic of Benin in which the Federal Government owns 35 per cent was bought by Dangote Group for $1.781 billion. Dangote Group, the nation’s major cement producer was, however, the only bidder for the company.



The Group has already paid 10 per cent of the bid price ($178 million), although the rule of the transaction provides that the first 10 per cent of the purchase consideration must be paid into a designated account on or before 12 midnight of the 10th working day immediately following the official notification of a successful bid.



The remaining 90 per cent would be paid into BPE’s designated account latest by 12 midnight of the working days immediately following the official notification of the successful bid.



Egbin Power Plc, presently managed by Korea Electric Power Corporation (KEPCO) /Energy Resources was bought by the same company at $280 million.

Also, Ajaokuta Steel Company Complex hitherto on concession to Global Infrastructure Nigeria Limited was converted to joint venture partnership on a 60 per cent to 40 per cent basis between Global Infrastructure and the Federal Government respectively. Yesterday’s bid opening saw the former paying $525 million for its own 60 per cent stake.



The National Arts Theatre, which attracted bids from eight prospective concessionaires, went to Infrastructica, which emerged preferred bidder with N35.84 billion for a 35-year concession. Jadeas Trust, which offered N28.902 billion, was declared the reserved bidder.



Similarly, Tafawa Balewa Square, which had a 25-year concession arrangement, was snapped up by BHS International for N9.5 billion. Black Swan followed with N9.2 billion as reserve bidder. The Lagos International Trade Fair Complex with a similar 25 years concession was won by AulicNigeria Limited with a bid of N40 billion while Unison Property Development is the reserve bidder.



For the LPG depots, Sahara Energy Resources Limited bought Calabar depot for $11.1 million while MRS Oil and Gas was the reserve bidder with $10 million; MRS Oil and Gas got Kano depot for $4 million. The bids of Brockport Limited ($3m) for Enugu depot; Le-Global ($1.05m) for Ibadan depot; Le-Global ($1.948m) for Ilorin depot and Global Gas and Refining, which offered $250,000 were all below the reserve prices and would have their offers ratified by the NCP.



Chairman of the Bluestar Oil Services Limited Consortium and President, Dangote Group of Companies, Alhaji Aliko Dangote said Nigerian entrepreneurs must take the lead in the nation’s march towards greatness. “I feel very great. There is nobody that will come and grow our own economy more than us and that is why we are heavily investing because we believe it is our own economy, we believe in the country and we believe in the economic policy of Nigeria. That's why we are here to make sure that we bid and win,” he said.



He disclosed plans of the Consortium to expand the refinery. He, however, said before the Consortium bought the Port Harcourt Refinery, it had plans of building a refinery of 300,000 barrels per day in Lagos. “Really it is very criminal to be importing petroleum products of $9 billion when we are a producer and that is the main reason why we are here,” he said.



Dangote said the Consortium will inject $200 million into the first phase of the project while the second phase will gulp about $3 billion. He also said his Group would invest $2 billion in the cement sector in the next three years.



He dispelled insinuation that Dangote Group was working towards a monopoly in the cement market.



“Its not a question of catching the entire market. Like I said earlier, if we don't build our economy nobody is going to do it. If anybody (else) is going to come in, he is quite welcome, it's a free entry, free exit market. If you remember, the first factory that we had producing cement was in 1956. From 1956 up till the time that we entered into cement, the total production of Nigeria went as low as less than 2.3million tons. In a single location last week, we commissioned five million tons of capacity. If we are not there, you will not be able to build a house forever,” he said.



He said by 2010, prices of cement would be less than N1,000 per bag. “If you look at it today, we are selling cement at N1,130 depending on the location. Ideally cement shouldn't cost, even in Abuja, more than N1,200. Our capacity today, Obajana, Benue and the two terminals in Lagos and Port Harcourt, can churn out about 38,000 metric tons per day. That is about 2000 trucks per day. And we are going to achieve that in the next four months. In Obajana right now out of 15,000, we are operating about 5,000 metric tons. By next week we are going to be doing at about 10,000 metric tons.



“Eventually by 2010, we want to make history by making sure that cement does not cost more than N1,000 anywhere in Nigeria. And quote me that is our target. Local production is under about 30 percent. But mind you, one single line of Obajana is bigger than all the production plants in Nigeria,” he said.



Chairman, Technical Com-mittee of the NCP, Mr. Patrick Akinkuotu assured the bidders that the transaction would be conducted through internationally acc-epted standards.



Meanwhile, oil workers under the aegis of National Union of Petroleum and natural Gas workers (NUPE-NG) yesterday protested the commencement of sale of government's equity share in two of the country's petroleum refineries - Port Harcourt and Kaduna - by the BPE. While the bidding exercise for the sale of the refineries and depots were going on at the Transcorp Hilton Hotel, Abuja, the oil workers staged their protest in front of Nigerian National Petroleum Corporation (NNPC), a distance of 5km.



The workers who began their action at about 10.30am, took over the main entrance to the headquarters of the Nigerian National Petroleum Corp-oration (NNPC), blocking its main gate and making movement in and outside the premises of the oil company almost impossible for the greater part of yesterday.



Leader of the protest, Mr. Williams Ibiba Inko told newsmen that the workers were not happy over the way the privatisation of the plants and depots were handled by government.



He said an immediate fall-out of the sale of these facilities, is loss of an estimated 4,000 jobs with no concrete arrangement on how to deal with the terminal benefits of the workers in place.



"BPE confirmed that the process will lead to job losses to the tune of about 4,000 when the two refineries and PPMC goes out for sale. What then happens to the pensions of NNPC staff. We are saying, yes you can privatise, but let us sit down and trash out the labour issues. Even some of our rights, we can negotiate them," he said.



While expressing the union's support for the current effort to reposition the refineries, the NUPENG chairman said the union had last week signed an MoU with BPE on the issue on the condition that "we would articulate our position and get back to them".


"This process is going to kill our pension. Most of the concerned staff have passed the employment age bracket. There is no way NUPENG and PENGASSAN will go ahead to fight against government policy, but how it is being implemented that is the problem. We believe it is being hijacked by the BPE to suit its purposes," he said.



Therefore, he said the workers want to secure an agreement with government on some of the things it can offer them as palliatives.



“In Eleme Petroch-emical, till today, the workers do not know where the shares allocated to them are. We want to ensure that the proper partnering that takes place, unlike the case of Eleme Petrochemical where they say 51 per cent, we finally saw outright sale," he said.



Inko said the oil workers want to guard against what happened to NITEL workers and how they were thrown out without entitlements.



"We are pensionable staff and we realize that the new investors, being a capitalist would not be able to keep the number of staff. We are saying, if these persons are going, what becomes their take home pay and on what basis are they going," he queried.



He advised that government should call in the experts, who would evaluate workers pension bill and the consequences of retiring more people into the pension fund.



"Right now we have about 8,000 NNPC pensioners out there and 9,000 people in the system sustaining them. If you shut out about 4000 after completing the process, only few persons would be contributing. Ultimately, it means the pensions scheme can no longer hold," he warned.



Vice President of NUPENG, Comrade Bako Joseph Yuba said the protest is taking place simultaneously nationwide, adding the union has already shut down NNPC operations in Lagos, Port Harcourt, Mosimi and Kaduna. - ThisDay

I am in need of Land, the locations I am interested in are Lekki phase 1 & 2 preferablt Phase 1

if anyone has any information as regards to Land for sale or 4 - 5 bedroom house for sale preferably Land, please email me at flobajo@yahoo.co.uk or let me have your contact details.

fi you could please give me prices as well, as a lot of all these sites don't have any information such as Price, Sq footage or anything in fact some of the Details are actually outdated by up to a year!!!

please I am serious and would like only serious and interested parties.

Tuesday March 27, 2007
NIGERIA: MUSLIMS CLUB CHRISTIAN TEACHER TO DEATH
Students, extremists stone, beat and burn her after 'desecration' of yet unfound Quran.

http://64.233.167.104/search?q=cache:compassdirect.org/en/display.php%3Fpage%3Dnews%26length%3Dlong%3F%3Den%26idelement%3D4814

Discuss here: https://www.nairaland.com/nigeria/topic-46741.0.html

@ naijafresh

Please could you send me a copy as well

Akinfolarin.Bajomo@ingdirect.co.uk

this will be much appreciated

many thanks

@ijogbon

victoria asserta

@atiku4lyfe

Am sorry to say but your written English is quite poor!!!!!

Khaleda Zia has also been the Prime minister of Bangladesh (It is the third-largest Muslim-majority nation in the world)


As well as Sheikh Hasina Wajed who was also prime minister of Bangladesh

and you also have Chandrika Kumaratunga of Sri Lanka although Sri Lanka is not a muslim majority, there are more Bhuddists there but it does have a considerable amount of Muslim population

Our neigbouring country in West Africa Senegal has also produced a Prime minister in the name of Mame Madior Boye (Prime minister of Senegal from 3 Mar 2001 to 4 Nov 2002. ) Senegal has a 94% muslim population

You do have As mentioned earlier Benazir Bhutto of Pakistan who has run the country on 2 occassions

Benazir Bhutto has also been prime minister of Pakistan on 2 occassions

@docokwy

I did not say Yoruba's will produce the next senator, if you read my caption properly you will notice that I said if the Yoruba's get the nod then he should be considered, yes he has not been sworn in yet but he has been declared a winner by INEC, no need for you to be so engulfed in minute technicalities and creating some sort of unneccesary protocol here, I simply made a suggestion that's all

why should the position belong to the north, is that not some sort of authoritarian rule, should the best man not be considered, the North already has the president, come one, what are we running here a feudal system, I don't understand the problem with these Goro eating motherfuckers, give them an inch and they take a yard, thats what happens when you bring cattle rearers into politics!!!!