Potential Benefits From Budget 2012 And Sure-P

Dr. Ngozi Okonjo-Iweala

Potential Benefits From Budget 2012 And Sure-P

~ By Dr. Ngozi Okonjo-Iweala

Against the backdrop of the recent debate on the removal of fuel subsidies , and the calculated misinformation being peddled by opponents of this policy, it is pertinent to highlight, in more tangible terms, some of the significant allocations that have been made to essential sectors of the economy, both in the 2012 budget as well as the recently-launched Subsidy Reinvestment and Empowerment Programme (SURE-P). This programme is a 3—4 year programme designed to mitigate the immediate impact of the removal of fuel subsidy and accelerate economic growth through investments in critically-needed infrastructure.

It is noteworthy that, while the 2012 budget allocated the best possible amounts to these critical projects, additional resources are allocated to the same projects in the SURE programme to ensure that they are completed at faster rates than envisioned in the 2012 budget. Some of the projects and allocations are as follow:

WORKS
• N11bn is allocated to the Abuja-Lokoja road in the 2012 Budget, with an additional N14bn from the SURE-P.
• N6bn is allocated to Benin-Ore-Shagamu, with an additional N16.5bn to be financed through SURE-P.
• N3bn is allocated to Port-Harcourt–Onitsha road, with an additional N5bn from the SURE-P.
• Similarly, N18.5bn is allocated to Kano-Maiduguri road, with an additional N1.5bn from SURE-P.
• Provision is made in the 2012 budget for construction of the Second Niger Bridge (N2bn) and Oweto Bridge (N3.5bn). An additional N5.5bn and N4bn would be spent on both bridges respectively from the SURE-P.
• Provision of N23.5bn is made for maintenance of roads and bridges across the country through Federal Road Maintenance Agency (FERMA).

POWER
• The total amount allocated to the power sector (including Bulk Trader, Nelmco, and Multi-Year Tariff Order (MYTO) and PHCN privatization) is N248bn.
• A sum of N392 million allocated to Nigeria Electricity Liability Management Company and N650 million for Bulk Trader.
• In the 2012 Budget Proposal, a sum of N3.7bn is allocated to the Kaduna Dual Fired Power Plant.
• Similarly, N2bn is allocated for the completion of the small and medium hydro-electric power plants Oyan Dam Hydro Power (Ogun state).
• A sum of N2.2bn is allocated for feasibility studies regarding the establishment of coal fired power plants.
• Additionally, N155bn will be spent on Power projects (Mambilla power plant, Coal Power Plant and Small Hydro power plants) through the SURE-P over the period 2012-2015.


AGRICULTURE & RURAL DEVELOPMENT
• The total allocation to the sector is N78.98bn
• N4bn is allocated to research and mechanisation
• Provision of N1.22bn is made for the construction of access roads to each of the 6 Staple Crop Processing Zones.
• Value Chain: N720 million is allocated to the development of value chains in cocoa, rice, maize, livestock, cotton and others sectors.
• N1bn is allocated to the Price stabilisation scheme.
• N610 million to facilitate for the access to credit, fertilizers and seeds.
• An additional sum of US$500m is expected from Development Finance Institute to support the sector.

TRANSPORT
• Rail lines: The 2012 budget allocates N3.95bn, N3.15bn and N3.35bn to the construction and completion of Abuja-Kaduna, Lagos-Ibadan and Ajaokuta-Warri rail lines respectively. In addition, the SURE-P allocates N11.6bn to the Abuja-Kaduna line and N9.3bn to the Lagos-Ibadan line.
• Provision of N800mn is made for the procurement of wagons, coaches and locomotives.
• Dredging project: N1.2bn is allocated to the dredging of Lower River Niger (Warri-Baro).

EDUCATION
• The total allocation to the sector is N400bn
• N11.6bn is allocated for existing universities.
• N7.7bn is allocated for the restructuring to Unity Schools.
• National Teachers Institute: The 2012 budget allocates N3.5bn to the retraining of teachers for basic education and training in innovative teaching.
• Moreover, an additional N24.6bn will be spent on vocational training centres from the SURE-P.

HEALTH
• N4.6bn is allocated to the Polio eradication programme
• N3.5bn is allocated to the procurement of HIV/AIDS Drugs
• The sum of N174 million is allocated to Integrated maternal, newborn and child health strategy, including capacity building, and promoting school health initiatives.
• N8.42bn is allocated to Federal University Teaching Hospitals.
• N6bn and N3.6bn are allocated to the procurement of vaccines and midwifery service scheme respectively.
• An additional N73.8bn will be spent on Maternal and Child heath from SURE-P.

AVIATION
• Various Airports: N22.2bn is allocated for the modernization of airport terminals and upgrading of facilities in the six geopolitical zones of the country.


FEDERAL CAPITAL TERRITORY ADMINISTRATION
• N3.1bn is allocated to the construction of a 20,000m3/hr lower Usuma dam Water Treatment Plants.
• N2.5bn is allocated to the construction of Cultural and Millennium Tower.
• N1.25bn is allocated to the Development of Idu Industrial Area (1b Engineering Infrastructure).
• Various road projects including the completion of roads B6, B12 and circle road (N4bn), rehabilitation and expansion of airport Expressway (N7.53bn).


NIGER DELTA
• East-West Road (Section I—V): The 2012 budget allocated N22.2bn to this road. In order to accelerate its completion, an additional N21.7bn is allocated in 2012 from the SURE programme.

WATER RESOURCES
• N1.2bn is allocated to the construction of Central Ogbia Regional Water Project.
• A total of N4bn are allocated to the construction of dams.
• Other provision for water facilities (i.e. regional water supply scheme) of N8bn.
• Rehabilitation of river Basin authorities (12 nos) of N13.91bn.
• Moreover, over the period 2012-2015 an additional N205.5bn will be invested in rural water scheme, water supply scheme, irrigation scheme and other water related projects from SURE-P.

These projects will not only significantly improve the country’s infrastructure, but will also create millions of jobs for Nigerians. This struggle is not between the government and Nigerians, because government is squarely on the side of the people. The fight is between the government and Nigerians on one side, and persons who are bent on continuing their age-long “milking” of the system for their personal benefits on the other side.

Please let us support government’s efforts at defeating these persons, and creating a better country for all Nigerians.




~ Dr Ngozi Okonjo Iweala is Nigeria’s Honouralbe Minister of Finance.


Source: Sent by Mr. Hope Obioma Opara, Publisher, Supple Magazine.

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There Was A Plot To Impeach President Goodluck Jonathan

President Goodluck Jonathan. Uneasy lies the head that wears a crown.

Nigerians Report is yet to verify the purported plot to impeach President Goodluck Jonathan, but was reported to have failed.

The plot was hatched in the U.S. to impeach him before the approval of the 2012 Budget and to stop the removal of the fuel subsidy on petrol. Top oil marketers of the cabal and legislators conspired in the plot, including the richest black man on earth according to the Forbes magazine. The plot leaked to President Goodluck Jonathan and the evidence is all on tape. That was why he hurriedly announced the removal of the fuel subsidy on petrol ahead of the scheduled deregulation of the downstream sector later in the year.

The plotters who have scammed the government for years are even major donors and sponsors of first Presidential Library in Nigeria and also sponsored the election of President Goodluck Jonathan. But can the President have the balls to prosecute the sacred cows who presently are above the law, because the law is an ass in country where there is a culture of impunity where public administration is an institution of corruption.The plotters are the enemies of Nigeria.

~ By Orikinla Osinachi


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Dear President Goodluck Jonathan, Ngozi Okonjo-Iweala and Diezani Alison-Madueke

Dear President Goodluck Jonathan, Ngozi Okonjo-Iweala and Diezani Alison-Madueke


Dear President Goodluck Jonathan, Ngozi Okonjo-Iweala and Diezani Alison-Madueke, there is no need for long speeches now, because the chickens have come home to roost.

It is not rocket science to know the facts on the issues at stake on the 419 scam called Fuel Subsidy on Petrol.
I stand by what Prof. Tam David-West said, that there is really no subsidy on petrol, because from the cost of production to the filling station, the real pump price of petrol should even be less than N65 per litre since it is from our crude oil.
And why should the petrol from our own refineries be sold at the same price with the imported petrol?
Again, why should you inflate the pump price of the same subsidized fuel imported last year 2011?
When the 2012 8udget is still before the National Assembly?

If you made no provision for subsidy in the 2012 Budget, then why not wait until the implementation before increasing the pump price of petrol?
Is it not a rip off to import petrol with your so called "SUBSIDY" in 2011 and now sell it to us at a NO SUBSIDY price?

Finally, you pretend to be ignorant of members of the so called CABAL, but God knows you are a LIAR, because you know them all as I listed them on Nigerian Times: The Real Beneficiaries of the Misappropriated Fuel Subsidy in Nigeria.

Prove your competence or please RESIGN!

~ By Orikinla Osinachi

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Nigerians Strike over Removal of Fuel Subsidy on Petrol

Nationwide strike over removal of fuel subsidy shuts down Nigeria.




Nigerians rally against the removal of fuel subsidy on petrol at the popular Gani Fawehinmi Park in Ojota, Lagos.Photo Credit: Nairaland.

In spite of the spate of terrorist attacks by the dreaded Boko Haram Islamic Jihad group and other unidentified elements of the lunatic fringe on rampage in the middle belt and northern states, the nationwide strike to protest the undemocratic removal of the fuel subsidy on petrol has shutdown all commercial activities in Nigeria, except for neighbourhood convenience stores and canteens where the people could buy foods and drinks to feed and stay the course of the strike action.


Prof. Pat Utomi among protesters on the street at Falomo roundabout in Ikoyi, Lagos. Photo Credit: Nairaland.

The organized labour unions, Nigerian Bar Association, human rights bodies, student unions, both academic and non-academic staff unions and other coalitions called Occupy Nigeria led the vanguard of the nationwide strike with mass protests and rallies in every state in the country, from the commercial capital of the mega city of Lagos to the federal capital of Abuja. Millions of others joined on the popular social networks on the Internet using Googleplus, Facebook, Twitter and other online media to communicate and join the debate on the pros and cons of the strike.

Thousands of people rallied at the popular Gani Fawehinmi Park in Ojota on the Lagos mainland and Eagle Square in Abuja as leaders of labour unions and civil liberty organizations made protest speeches and chanted solidarity slogans chorused by the crowds. At the Gani Fawehinmi Park, they sang protest songs performed by Femi Kuti the first son of the legendary Afrobeat King, Fela Anikulapo Kuti of blessed memory whose hit songs were also amplified to motivate the protesters. Popular entertainers like Reggae artiste Ras Kimono and revolutionary political leaders like Mr. Femi Falana, Dr. Tunji Braithwaite, Mr. Yinka Odumakin and Dr. Joe Okei-Odumakin addressed the rally.

All local and international flights have been cancelled until further notice and even road transporters were off the streets, except for those using their private vehicles for personal movement.

The government tried to convince public servants to ignore the strike and go on with their normal duties, but most of them could not even do so in fear of the repercussions of disobeying the general consensus of the organized labour unions.

Billions of naira will be lost. But the greatest loser is President Goodluck Jonathan who has lost the support and trust of the majority of Nigerians who voted for him during the last presidential election. They have now turned against him for betraying their trust and have passed a vote of no confidence in him. Many of his celebrated supporters who endorsed him said they regret doing so and cursed him for deceiving them. The House of Representatives had an emergency session on Sunday and dismissed his unilateral removal of the fuel subsidy. He has also done more harm to his ruling party, the People’s Democratic Party (PDP); because the populace now sees it as an anti-people party that is oppressing and suppressing the democratic will of the people. And it would be a miracle for the PDP to win another presidential election in Nigeria, except by gerrymandering and rigging.


~ By Ekenyerengozi Michael Chima

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Nigerian Legislators Dismiss the Removal of Fuel Subsidy

Inside the House of Representatives of the 7th National Assembly (2011-2015)

After their unruly emergency session on Sunday afternoon, the members of the Nigerian House of Representatives finally resolved to dismiss the unpopular removal of the fuel subsidy on petrol by the administration of President Goodluck Jonathan. And they advised the organized labour unions to dialogue with the government instead of going ahead with the nationwide strike planned to start tomorrow Monday January 9, 2012.

"We are sitting near a keg of gunpowder and we are playing with fire," said Rep. Pally Isumafe Obokhuaime Iriase of the Action Congress of Nigeria. "This will be the last straw that will break the camel's back if we do not act."

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Nigerian Legislators Are Behaving Like Unruly Pupils In A Classroom

Nigerian legislators often forget that they are no longer school pupils in a secondary school.

I have just been following the so called emergency session of the House of Representatives on Sunday January 8, 2012, to address the unpopular removal of the fuel subsidy on petrol and the state of emergency over terrorist attacks in the middle belt and northern states. But I see that majority of them are not really bothered as they are busy antagonizing themselves without any definite resolution.

Many of them are misbehaving like pupils in a classroom and laughing when the country is threatening to implode?

They said Nigeria is broke, but they are not even bothered about reviewing their own salaries and allowances and the lopsided revenue allocation formula.

Since Nigeria is broke, the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) should fix the total monthly salary of a senator at N1.06m and that of a House of Representatives member at N794, 000. And anyone who is not ready to accept it should resign!

After all, Nigeria was even a better country when there was no National Assembly. Therefore, a nation can function well without these so called lawmakers who are nothing more than political contractors in the corridors of power.

The following allowances should be suspended until further notice,with the exception of the allowances for annual leave.

Accommodation allowances, furniture allowances, vehicle allowances and travel allowances.


~ By Orikinla Osinachi

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President Jonathan Becomes the Most Hated Nigerian on Facebook

Following his unilateral removal of subsidy on premium motor spirit (PMS) on the first day of the new year, the fans numbering over 678,829 turned against him enmass and have been raining curses upon him in torrents.

Korrect Nation

From all indication­s of the nationwide protests over the removal of the fuel subsidy on petrol, majority of Nigerians will even welcome a coup d'état to remove the corrupt and unpopular administra­tion of their once beloved, but now called an incompeten­t President Goodluck Jonathan as the protesters are asking for his impeachmen­t. Ironically the much talked about good luck of his first name has turned to bad luck to the poor masses of Africa's most populous nation where the majority live on less than $2 a day.

Since President Jonathan has become the most cursed President on Facebook, majority of Nigerians will certainly celebrate his removal on the streets.

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Where President Goodluck Jonathan Failed

President Goodluck Jonathan plunged himself into a quagmire between the devil called "Boko Haram" and the deep blue sea of angry masses protesting the unpopular removal of the fuel subsidy on petrol since New Year's day to date.

Mr. President, Public Offers and Sensitization about Oil Deregulation
Came too late

~ By John Egbeazien Oshodi, Ph.D

No one doubts that there could be a long-term benefits for all Nigerians from the massive oil price deregulation but the ill-timed manner by which executive decision was made showed poor management style.

This leadership blunder has not only resulted in a state of economic and social confusion but it has equally received tensed response to split-minded way with which the government reached its decision.

The ineffectiveness behind the fuel subsidy removal order remains clear as evidenced in the people’s painful reactions.
Certainly, in an economy like Nigeria which is marked by severe economic gap and class division among the people, the President and his advisers could have fully prepared the nation, and should have anticipated the people’s reaction.


Majority of Nigerians have taken to the street in public protest against the undemocratic removal of the fuel subsidy on petrol. Photo Credit: Indepth Africa.


The corpse of Muyideen Mustafa, a protester shot dead by the government's law enforcement agency in Ilorin, Kwara State.

A reaction that could have been less hostile if the government had in the last few weeks and months talked openly about the grave need for oil subsidy removal.

The President could have made sure that everyone or targeted groups are informed of the full benefits of the deregulation of oil by carrying out vigorous campaigns across the country.

Today the President is faced with split opposition both at home and abroad. An opposition that is further complicated by the President’s close agents which include ministers and other executives. They who grossly failed to campaign for public preparation and change in this oil matters.

They failed for habitual and selfish reasons. And they appear to be in a state of ineptitude due to fear—a fear caused by the need to avoid the people, a fear surrounded by insensitivity in regards to the people’ day-to-day burden and plight.

Instead they are known to travel overseas wastefully and within the country ride in a convoy of cars to work, residence, market, church, mosque, and restaurants. A better approach leading to the removal of the oil subsidy could have been more helpful if the administration had done what it is doing now in terms of offers—buying sufficient numbers of mass transit vehicles duty free, reduction of salaries of political office holders, opening up employment and other sweet incentives!

The sudden announcement of these compromises has in an ironic way fired up the already exiting bubbling relationship between the administration and labor organizations.

It could have been more psychologically healthy for the administration if before now it had made operational declaration of fully fighting fraud and corruption, and if it had assured Nigerians of better ways to enhance their economic safety.

Now this mindless act of not passing out public information on time in regards to their subsidy plans is being complicated by a reported court order to stop the strike. But it appears that this tactic came too late as the bitterness and rage has grown too deep in the people.

Now there could be threat to public peace, to national security and even to the demonstrators. No matter how this trouble ends, one great lesson from this lack of
good time management and poor information/sensitization campaign to policy issues is that the President and his persons will learn to use less desperate and harsh moves to address Nigerians on realities like the subsidy removal. This is essential in order to avoid any future abrupt, hasty and underhanded announcement like the subsidy removal decision.

Let us hope that the proposed people’s mass protests does not result in a state of harm and evidence a show of injustice from both sides in order to reduce more trouble, woe and discomfort to the nation.


~ John Egbeazien Oshodi, Ph.D, is the Secretary-General of the Nigeria
Psychological Association (NPA), Abuja, jos5930458@aol.com

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Platts: December Petrochemical Prices Slip Nearly 1% on Year-End Slowdown

6 Jan 2012 17:13 Africa/Lagos
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Platts: December Petrochemical Prices Slip Nearly 1% on Year-End Slowdown

LONDON, Jan. 6, 2012 /PRNewswire/ -- Platts – Prices in the $3-trillion-plus global petrochemicals marketplace slipped nearly 1% to $1,161 per metric tons (/mt) in December, according to the just-released monthly average of the Platts Global Petrochemical Index (PGPI), a benchmark basket of seven widely used petrochemicals.

This compares to a November PGPI monthly average price of $1,162/mt. The somewhat sideways price trend is largely attributed to the typical end-of-year slowdown in the petrochemical markets. Historically, liquidity tends to thin ahead of the holiday season, according to Platts, the founder of the index and the physical market price assessment processes for each of its components.

On an annual basis, the December 2011 PGPI average was down 6.9% from the same period in 2010.



PLATTS GLOBAL PETROCHEMICAL INDEX IN U.S. DOLLARS PER METRIC TON

PGPI Monthly Average

Dec-'11

$1,161.00

Dec-'10

$1,194.00

% Chg

6.9%

Nov-'11

$1,162.00

Oct-'11

$1,200.00

Sep-'11

$1,324.00

Aug-'11

$1,397.00

Petrochemicals are used to make plastic, rubber, nylon and other materials for consumer products, packaging, manufacturing, construction, pharmaceuticals, aviation, electronics and nearly every commercial industry.

Three of the seven PGPI components' monthly averages were lower in December. The largest drop was seen in propylene, which fell 6% to $1,057/mt, down from $1,125/mt in November. That drop in propylene was felt in polypropylene prices, which fell 5% to $1,350/mt, down from $1,420/mt in November.

On an end-of-day, end-of-month basis, the PGPI market-on-close value was $1,173/mt on December 30 – a 2% increase compared to the end-of-day, end-of-month value for November of $1,149/mt. The slight rise marks the first end-of-day, end-of-month value gain recorded since July 2011. Month-end closing prices are often used for valuing portfolios.

In December, global petrochemical markets traditionally see a drop in liquidity ahead of the holiday season. This is due to U.S. inventory levels typically being reduced ahead of the New Year as companies try to decrease their end-of-year inventory taxes. In Asia, petrochemical converters also work through their inventories ahead of the Lunar New Year holiday, which this year starts on January 23, 2012.

Despite the December lull, the January PGPI monthly average price has historically been stronger as companies restock following the New Year. Since the PGPI was introduced in 2007, the January PGPI price has averaged 10% greater than the previous December.

The minor change in the December PGPI also mirrored the relatively stable global equity markets. Through December, global equity markets were relatively flat, with both the Dow Jones Industrial Average (DJIA) and Financial Times and the London Stock Exchange Index (FTSE) gaining less than 1.5% each. The Nikkei 225 also was higher, but only by a quarter of one percent.

The largest gain in December was in the global benzene index, which climbed 10% to $1,033/mt, up from $940/mt in November. Ethylene prices also were significantly higher, climbing more than 4% to $1,121/mt, up from $1,074/mt in November. To access a summary of the December performance of each of the seven key petrochemicals included in the PGPI, visit this link: http://www.platts.com/newsfeature/2012/pgpi/index.

The PGPI reflects a compilation of the daily price assessments of physical spot market ethylene, propylene, benzene, toluene, paraxylene, low-density polyethylene (LDPE) and polypropylene as published by Platts and is weighted by the three regions of Asia, Europe and the United States. Used as a price reference, a gauge of sector activity, and a measure of comparison for determining the profitability of selling a barrel of crude oil intact or refining it into products, the PGPI was first published by Platts in August 2007.

Published daily in Platts Petrochemical Alert, a real-time news service, and other Platts publications, the PGPI is anchored by Platts' robust and long-established price assessment methodology and the firm's 100-year history of energy price reporting.

Platts petrochemicals experts are available for media interviews, consult Platts Media Center. For more information on petrochemicals, visit the Platts website at www.platts.com.

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets. A division of The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com .

About The McGraw-Hill Companies: McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2010, the Corporation has approximately 21,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/ .


SOURCE Platts

CONTACT: Kathleen Tanzy, +1-212-904-2860, Kathleen_tanzy@platts.com; Additional media contacts: Elizabeth Catalano +1 212-904-4937; In Asia: Casey Yew +65 653 06552; In Europe: Shiona Ramage +44 207 1766153

Web Site: http://www.platts.com

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Boko Haram Says State Of Emergency Cannot Stop Them

Abul Qaqa, the spokesperson of the Boko Haram says that their recent attacks prove that the so called state of emergency cannot stop them from attacking anywhere in Nigeria.

"We are extending our frontiers to other places to show that the declaration of a state of emergency by the Nigerian government will not deter us. We can really go to wherever we want to go," said Abul Qaqa.

He said the attacks were "part of our response to the ultimatum we gave to southerners to leave the north" and called on the government to release all Boko Haram prisoners.

Source: BBC News.

• Who are Nigeria's Boko Haram Islamists? 29 DECEMBER 2011, AFRICA
• Why can't Nigeria defeat Boko Haram? 11 NOVEMBER 2011, AFRICA
• Foreign backers for Boko Haram ? 21 JUNE 2011, AFRICA
• Maiduguri: Nigeria's city of fear 15 MARCH 2011, AFRICA
• Nigeria country profile 19 APRIL 2011, COUNTRY PROFILES

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Dear Karl Maier, This House Has Not Yet Fallen

Being extracts from In the House of Dogs (Kindle Edition) by Michael Chima Ekenyerengozi; King of Kings Books International; 1 edition; November 2011.

It’s not easy to state who started it or how many died. But the horror for those affected is clear.

— Craig S. Keener, June 2010.

Dear Karl Maier,

This house has not yet fallen, but it is shaking. Our house is full of strange bed fellows of lunatic fringe elements of the black sheep of a dysfunctional family.

One is turbaned and goes round the bend bowing to the crescent moon and star suffering from a very contagious Creutzfeldt-Jakob disease of his mad cows.
The other one has gone loco from sniffing too much hydrocarbons in his littoral states at the bottom of the river Niger.

Imagine living in the house of nightmares, cast between the devil and the deep blue sea and caught in the snares of the sirens.

Our house is like a home full of Wole Soyinka’s “Madmen and Specialists”, swimming in the whirlpool of the vicious circle of the same ethno-religious conflicts that precipitated us into the catastrophic internecine civil war of the late 1960s. The same ethno-religious crises are recurring now with incessant attacks by homegrown terrorists plunging Jos, Maiduguri and Abuja into chaos with carcasses of burnt-out vehicles and razed houses, mosques and churches and the charred remains of corpses littering the streets with acrid smells attacking our nostrils and leaving us ill from the nausea.

Religious fanatics of the lunatic fringe on rampage have murdered hundreds of innocent compatriots in reprisal attacks.

Brothers of that lunatic Farouk Abudul Mutallab the al Qaeda “Underwear Bomber" who failed in his satanic attempt to blow up the Northwest Airlines Flight 253, en route from Amsterdam to Detroit, Michigan, on December 25, 2009, have unleashed their terrors on us as they sighted the moon on Christmas Eve of 2010 at about 7.15 pm in Jos and Maiduguri, and struck again on the New Year’s Eve in Abuja.
These terrorist bombings have now confirmed our worst fears as Sunday Dare concluded that the final script of the terrorists is unfolding now.

The Maitatsine uprising in Kano in 1980 whilst I was a high school pupil in Lagos could be called the genesis of what is now known as the Boko Haram uprising. The first ethno-religious crisis began in Jos on September 7, 2001, but the ethno-religious indigene/settler dichotomy is deep-rooted in the history of Jos as explained in “Sliding towards Armageddon: Revisiting Ethno-Religious Crises in Nigeria” by Gwamna Dogara Je’adayibe, Ph.D. and Amango Kudu A., Ph.D.

You should also read “The Truth About the Religious Violence in Jos, Nigeria” by Craig S. Keener published in Christianity Today and posted on www.christianitytoday.com/ct/2010 How and when it started is good to know, but in the present state of emergency as our house is on fire, who started it, what started it or when it started is not the most urgent thing, but to put out the fire by all means possible and at all costs to save our home from being destroyed by these conscienceless elements of the lunatic fringe on rampage. This is the responsibility of our government.

Our President was more concerned about his egocentric presidential election campaign and forgot to put his house in order until his kinsmen bombed the Eagle Square venue of our 50th Independence Anniversary in the Federal Capital city of Abuja. That was the first time such a catastrophe would happen to us since our freedom from the colonial British Empire on October 1, 1960. But he failed to correct the terrible mistakes of his security agencies and intensified his presidential election campaign gimmicks until the turbaned lunatics of the Boko Haram sect set off their deadly bombs in Jos, Maiduguri and Abuja over the holidays.

The devastating terrorist bombings have rocked the foundation of our house and put us all at risk, because it may collapse if we fail to get rid of these lunatics in our house.

We do not have enough specialists to handle these madmen. Our elites are disillusioned and as the madmen are raising dust in the north and blowing embers in the south our children are in fear and trembling in the premonition of another civil war.

“When the foundations are being destroyed, what can the righteous do?”
— Psalm 11:3

The righteous should not give up!
The righteous can do a lot to salvage it, no matter the collateral damage that has been done.



KARL Maier, our house is a house of wonders.
Our children are still full of dreams as they are going on with life with tall ambitions and many of them with their heads in the clouds reaching out for the stars. As the lunatics were exploding deadly bombs of destruction in the north, our ignorant children were exploding firecrackers of celebration in the south.
No Karl, it is not funny. It is the irony of life.

You cannot live in denial of the agonies of the ironies of life in a hostile universe.

Yes, we have our dreams and those who have dreams, also have their nightmares.
This is the burden of humankind.

We all must experience the checkered fortunes of the vicissitudes of life.
You have come across what the Chinese said about our fate on earth.
Joys and sorrows, partings and reunions are daily occurrences in the vicious circle of life. Both our joys or sorrows do not last forever, and life goes on.

Our worst enemies are not even these terrorists, but the corrupt looters in the corridors of power and their accomplices, the political contractors and their cronies and hypocritical beneficiaries. These kleptomaniacs are the anathemas of our nation. They have done worse things to us than all the bomb blasts and ethno-religious riots since 1960 to date.

Do you know the casualties of road accidents on the nightmarish roads they have failed to repair after their embezzlement of the revenue allocations of the ministry of works?

Can you count the millions of lives lost since these kleptomaniacs rigged their way into the corridors of power?

Pensioners have collapsed while waiting for the arrears of their unpaid gratuities.
Patients have died from bad health care and when doctors went on strike, because of bad conditions of service.

Have you forgotten the 60 students of Loyola Jesuit College, Abuja and others who perished in the ill-fated Sosoliso plane that crashed at the Port Harcourt airport, because the fire service had no water to put out the fire?!

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RFI Broadcasts Suspended Over Election Coverage in the Congo

5 Jan 2012 03:11 Africa/Lagos


In DRC, RFI broadcasts suspended over election coverage

NEW YORK, January 5, 2012/African Press Organization (APO)/ -- Authorities in the Democratic Republic of Congo shut down broadcasts of the French government-funded Radio France Internationale over its coverage of the aftermath of the November 2011 presidential elections, news reports said.


On Monday, Communications Minister Lambert Mende said the Council of Ministers had ordered the "temporary" measure of switching off RFI 's six FM broadcast frequencies until the Congolese Broadcasting and Communications Superior Council, the new state-run media regulatory agency, had issued a decision.


The run-up to the presidential elections saw anti-press violence, including arson attacks , against journalists and media outlets supportive of opposition leader Etienne Tshisekedi, according to CPJ research. On November 28, incumbent President Joseph Kabila defeated Tshisekedi although he took less than 50 percent of the votes in the election, which was marred by deadly violence and allegations of irregularities, news reports said. Security forces cracked down on subsequent protests by pro-opposition supporters, but Tshisekedi declared himself president-elect and staged a swearing-in ceremony and a new year's national address, according to news reports. RFI reported on bothof these events.


"The government did not at all appreciate the way RFI attempts to trivialize the anti-constitutional comedy of Tshikedi," Mende told Agence France-Press. RFI Deputy Director Geneviève Goëtzinger declined to comment when contacted by CPJ.


"This decision is part of a pattern of closures to punish Radio France Internationale whenever it reports independently on political news in the DRC," said CPJ Africa Advocacy Coordinator Mohamed Keita. "We call on the Congolese media regulatory agency to break with this pattern of political censorship and reverse the decision immediately."


RFI is the most popular news station in the DRC, according to CPJ research. On December 23, the station's broadcasts were disrupted after it aired information about Tshisekedi's staged swearing-in, AFP reported. The government also suspended RFI for more than a year through 2009 and 2010 over its coverage of the military, and in 2006, authorities expelled RFI journalist Ghislaine Dupont, according to CPJ research.


Source: Committee to Protect Journalists (CPJ)

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The Facts on the Cost of Petrol in Nigeria

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

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

~ The Real Cost Of Nigeria Petrol- By Dr. Izielen Agbon

1) One barrel of Crude oil = 42gallons or 168 litres
2) Our Refineries (i.e 4) Installed (combined) capacity = 445,000 barrels per day
3) Actual refineries capacity due to ageing equipment = 30% i.e. 133,500 barrels per day
4) 133,500 barrels = 21.2 million litres
5) Local required consumption (F.O.S) =12millions litres
6) It means that even our MORIBOND refineries can actually meet our local consumption need of petroleum.
7) The cost structure of crude oil (i.e.Qua Iboe Crude Oil) production;
- Findings / development - $3.5
- Production cost - $1.5
- Refining Cost - $12.6
- Pipeline/transportation - $1.5
- Distr/bridging fund Margin -$15.69

- Total sum cost = $34.
8) - 1ltr cost = $34.8/159 litres = $0.219
- Naira equiv. 0.219xN160= N35.02k
- Add Tax N5 + N35.02 = N40.02
9) Let FGN refute the above composition and if not, they should tell us how they came about N65/litre.
10) Locally refined products cannot be sold at International price.
11) We really do not need FGN SUBSIDY as there was NONE in the first place.

~ Lekoile

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The Real Subsidy That Nigerians Need By Ben Bruce

Ben Murray-Bruce

Subsidizing Transport for the Poor: An Initiative
~ By Ben Murray Bruce

A good plan is only as important as the willingness to execute it. Since Independence in 1960, successive administrations have paid little attention to the poor.

Government has played the role of Robin Hood, unfortunately though in reverse: they have taken from the poor to subsidize and sustain the rich.

I urge the Federal Government to reverse that role and play the real Robin Hood, and now take from the rich and give to the poor.

This simply means that they must ensure that the rich make the same sacrifice that the poor have made and continue to make. After all, it is not a sin to be poor.

The government of Nigeria must practice what it preaches. If it does and implements the Ben Bruce Transport Policy it will go a long way in easing the untold hardship the increase in the cost of petrol will have on the Nigerian masses.

The Ben Bruce transport policy is simple, realistic and very achievable. I propose $2 billion annually for 10 years. This will re-invent and re-build the transport sector of Nigeria and alleviate the sufferings of the Nigerian people and at the same time grow our economy.

I demand for the Nigerian masses a $500 million fund to subsidize bus and taxi services in Nigeria. I want that subsidy at 50 per cent of the cost for all Nigerians. Many other developing and advanced economies have subsidized their transport sectors. For instance, Brazil by 70 per cent, South Africa by 34 per cent, Chile by 57 per cent, the UK by 49 per cent, Belgium by 69 per cent and Finland by 65 per cent.

We all know the problems that have plagued our nation for decades. We all know the untold hardship our people have been through, and so did the Afrobeat legend Fela Anikulapo- Kuti as emphasized in many of his songs.

One of the focal points of my plan is that all school children in uniform, senior citizens over 60 and children under 10 must travel free of charge by public transportation under this plan. Transport fares should not rise because the government should pay the difference of deregulation immediately to the transport sector. I estimate that we spend N50 billion annually on transport fare. Deregulation will double that and make it N100 billion.

The additional N50 billion should be paid by the government. And equally important, I propose an additional $500 million annual intervention fund at 5 per cent interest over five years provided by the banks and guaranteed by the Federal Government to be used to buy fuel efficient cars and buses.

These vehicles must be among the top 5 most fuel efficient in the world and most importantly, they must be duty free.

I don’t have to be psychic or a soothsayer to know that the money that will accrue to government from deregulation is more than enough to pay for the purchase of such vehicles, with an estimate of N3 million for Cars, N11 million for mini buses and N16m for bigger buses. Old cars and buses should be brought to designated centres, where they can be purchased for at least N300,000 each and crushed, so they are taken out of circulation and will reduce the carnage on our roads.

The money will be used as a down payment towards the purchase of new cars and buses. This should also apply to any Nigerian who wishes to purchase a fuel efficient vehicle. We must transform bus drivers into bus owners and taxi drivers into taxi owners and make it easy for the Nigerian working class to own cars. $500 million is also needed to provide infrastructure for the buses and taxis such as depots for overnight parking/garaging of the buses, fueling, repairs and maintenance etc. A depot could be built to accommodate as many as 500 buses.

BUS TERMINALS: This is the location for buses to park and wait for passengers. Terminals should also have passenger facilities such as restaurants, conveniences, shops, fuel stations and a bus washing bay. Bus Terminals should be located at the ends of bus corridors in urban areas and at critical intersections in the inter state mass transit systems Bus Shelters and;
LAY BY’S: for buses to pick up and drop passengers, along bus corridors in urban areas without affecting the general traffic flow. They should be located at 200 metre intervals on both sides of the bus corridors in urban areas. This is what you have on Ikorodu Road in Lagos.

To make my plan work, $500 million must also be provided by government to replace old, unsafe and uneconomical trucks. The same principle applies, but they will not get subsidy because they use diesel which had been deregulated long before the deregulation of petrol even became an issue.

The government must set up a Transport Regulatory Authority to regulate the industry.
Nigeria will spend in 10 years exactly 20 per cent of the savings that will accrue from the removal of subsidy.

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The Real Beneficiaries of the Misappropriated Fuel Subsidy in Nigeria

The fuel subsidy has never favoured the majority of Nigerians, but the oil marketers and their distributors who are major stakeholders in the corrupt government of President Goodluck Jonathan of Nigeria.

The masses don't own the filling stations and they don't import fuel.
So who are those ripping them off?
The oil marketers importing fuel and the owners of filling stations who are leading members of the corrupt ruling party and the President is their major beneficiary.

The real beneficiaries of the misappropriated fuel subsidy in Nigeria are the Nigerian National Petroleum Corporation (NNPC) and others on the following list.

List of Petroleum/Oil Marketing Companies in Nigeria

September 24, 2007

The list below contains the names of the oil marketing companies in Nigeria. Companies that are only involved in the downstream section of the oil chain. The list is not exhaustive but these are the main players in the industry. The information is available both in the table below and also as an attached PDF file with embedded links to redirect you to the companies websites. The table below can be sorted either by company name or the websites by clicking on the header rows in the table.

1	ACORN PETROLEUM	www.acornpetroleum.com
2	AFRICAN PETROLEUM PLC. (AP)	www.applcng.com
3	ASCON OIL	www.asconoil.com
4	CAPITAL OIL PLC.
5	CONOIL PLC.	www.conoilplc.com
6	ETERNA OIL & GAS PLC.	www.eternaplc.com/main.asp
7	GENERAL OIL (NIGERIA)
8	HONEYWELL OIL & GAS	www.honeywelloil.com
9	HYDROCARBON SERVICES OF NIGERIA (HYSON)	www.nnpcgroup.com/hyson.htm
10	MOBIL OIL NIGERIA PLC.	www.exxonmobilafrica.com
11	OANDO PLC.	www.oandoplc.com
12	OCEAN & OIL HOLDINGS	www.oandoplc.com
13	PIPELINES & PRODUCTS MARKETING (PPMC)	www.nnpcgroup.com/ppmc.htm
14	SADIQ PETROLEUM NIGERIA (SPNL)	www.sadiqpetroleum.com
15	SHELL NIGERIA OIL PRODUCTS	www.shell.com/home/content/nigeria
16	TEXACO NIGERIA PLC.	www.texaco.com/worldwide/africa/nigeria.asp
17	TOTAL NIGERIA PLC.	www.ng.total.com
18	ZENON PETROLEUM & GAS	www.zenonpetroleumng.com/

This is the PDF version of the file - List of Oil & Gas Marketers in Nigeria. Also find attached a comprehensive list containing all oil and oil related companies in Nigeria - This listing consists of companies in oil exploration, drilling, survey, engineering, geo-physical etc. These are parts 1,2 & 3 of the file and the subsequent files are coming soon - Comprehensive List of Oil Companies in Nigeria #1-131 and Comprehensive List of Oil Companies in Nigeria #132-254 and Comprehensive List of Oil Companies in Nigeria #255-328.

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Why Nigerians Must Protest and Reject the Illegal Removal of Fuel Subsidy

Why Nigerians Must Protest and Reject the Illegal Removal of Fuel Subsidy

The sudden announcement of the removal of fuel subsidy on New Year’s Day shocked Nigerians who were still on holidays and they were outraged by the overnight change in the pump price of petrol by owners of filling stations across Nigeria without any authorized benchmark price by the Petroleum Products Pricing Regulatory Agency (PPPRA).

It is brazenly corrupt and outrageously fraudulent for the filling stations to start selling fuel at exorbitant pump prices immediately the government announced the removal of fuel subsidy on January 1, 2012, without any notification to the citizens who are the primary consumers.

The fuel being sold between N137 and N200 per litre was imported under the fuel subsidy regime; therefore it is daylight robbery of consumers by the corrupt and fraudulent government, oil marketers and their distributors with thousands of filling stations all over Nigeria.
Millions of litres of fuel imported before the removal of the fuel subsidy are now being sold to helpless consumers at exorbitant prices with the consent and approval of the corrupt administration of President Goodluck Jonathan against the wishes of the Nigerian Senate and House of Representatives.

The government has the right to implement the deregulation of the downstream sector, but it must be done legally and not arbitrarily.

The Executive Secretary of the Petroleum Products Pricing Regulatory Agency (PPPRA), Mr. Reginald Stanley lied when he said the removal of the fuel subsidy on Premium Motor Spirit (PMS) was done after extensive consultations with stakeholders across the nation and that service providers in the sector are now going to procure the PMS products and sell them in accordance with the indicative benchmark price published fortnight on the PPPRA website.

Who were the so called stakeholders across the nation who agreed with the PPPRA to remove the fuel subsidy overnight?

None of the so called service providers has the right to sell the already imported and available PMS products at inflated prices when the benchmark price has not been established by the PPPRA. So, those who are selling the products at anything above the fuel subsidy pump price of N65 are doing so illegally and it is criminal and the PPPRA must prosecute them accordingly or be held responsible as complicit in the rip-off of the consumers of PMS in Nigeria.

The consumers were never informed or notified that the fuel subsidy would be removed on January 1, 2012. Therefore the people have the constitutional and legitimate right to protest and reject the corrupt act of gross injustice.

~ Ekenyerengozi Michael Chima

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Boko Haram Dares President Goodluck Jonathan; Vows To Attack Christians

Boko Haram Dares President Goodluck Jonathan; Vows To Attack Christians


Masked members of Boko Haram. Photo Credit: AFP.

In apparent dismissal of the state of emergency declared by President Goodluck Jonathan on New Year’s Eve, Abul Qaqa a spokesman of the dreaded Islamist group Boko Haram has issued an ultimatum to Christians in the country's north and threatened to confront troops according to the latest report from Agence France-Presse (AFP).


Scene of the Christmas Day Bombing of the St. Theresa’s Catholic Church, Madalla near Abuja in Niger State.Photo Credit: 360 Nobs.

Abul Qaqa said they are giving southerners living in the north a three-day ultimatum to leave.

"We find it pertinent to state that soldiers will only kill innocent Muslims in the local government areas where the state of emergency was declared," he told journalists in Hausa language in a phone conference late Sunday.
"We would confront them squarely to protect our brothers.". Qaqa said "we also wish to call on our fellow Muslims to come back to the north because we have evidence that they would be attacked.

"We are also giving a three-day ultimatum to the southerners living in the northern part of Nigeria to move away."

"The President had never visited any of the theatres were Muslims were massacred," Abul Qaqa said in condemnation of President Jonathan’s condolence visit to the St. Theresa's Catholic church in Madala, Niger State where dozens of Christians were killed in the Christmas Day Bomb attacks by Boko Haram.

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Top 100 American VCs for 2012

Top Firms for Early Stage Companies
No. Deals in 2007*	VC	Location

19	Maryland Technology Development Corporation	Columbia, MD
16	Draper Fisher Jurvetson	Menlo Park, CA
15	Ben Franklin Technology Partners Southeastern PA	Philadelphia, PA
15	Innovation Works, Inc.	Pittsburgh, PA
14	New Enterprise Associates	Baltimore, MD
13	Ben Franklin Technology Partners of Northeastern PA	Bethlehem, PA
13	First Round Capital	West Conshohocken, PA
12	Mohr Davidow Ventures	Menlo Park, CA
11	Kleiner Perkins Caufield & Byers	Menlo Park, CA
10	Domain Associates LLC	Princeton, NJ
10	General Catalyst Partners	Cambridge, MA
10	Intel Capital	Santa Clara, CA
10	Village Ventures	Williamstown, MA
9	InterWest Partners	Menlo Park, CA
9	Labrador Ventures	Palo Alto, CA
9	Polaris Venture Partners	Waltham, MA
9	SV Life Sciences Advisers	Boston, MA
9	vSpring Capital	Salt Lake City, UT
8	Connecticut Innovations, Inc.	Rocky Hill, CT
8	HealthCare Ventures LLC	Cambridge, MA
8	Illinois Ventures LLC	Chicago, IL
8	North Bridge Venture Partners	Waltham, MA
8	Prism Venture Partners	Westwood, MA
8	Sigma Partners	Menlo Park, CA
8	True Ventures	Palo Alto, CA
7	ARCH Venture Partners	Chicago, IL
7	Atlas Venture, Ltd.	Waltham, MA
7	DCM Doll Capital Management	Menlo Park, CA
7	Khosla Ventures	Menlo Park, CA
7	Matrix Partners	Waltham, MA

7	New Leaf Venture Partners, LLC	New York, NY
7	OVP Venture Partners	Kirkland, WA
7	Pequot Capital Management, Inc.	Westport, CT
7	VantagePoint Venture Partners	San Bruno, CA
6	Accel Partners	Palo Alto, CA
6	Azure Capital Partners	San Francisco, CA
6	Band of Angels	Menlo Park, CA
6	CMEA Ventures	San Francisco, CA
6	Foundation Capital	Menlo Park, CA
6	Highland Capital Partners LLC	Lexington, MA
6	IDG Ventures Boston	Boston, MA
6	Lightspeed Venture Partners	Menlo Park, CA
6	Madrona Venture Group	Seattle, WA
6	Mission Ventures	San Diego, CA
6	Shasta Ventures Management LLC	Menlo Park, CA
6	Trident Capital	Palo Alto, CA
6	Union Square Ventures	New York, NY
5	5AM Ventures	Menlo Park, CA
5	Advantage Capital Partners	New Orleans, LA
5	Artiman Ventures	Palo Alto, CA
5	Bay Partners	Menlo Park, CA
5	Benchmark Capital	Menlo Park, CA
5	Canaan Partners	Westport, CT
5	DFJ Frontier	Santa Barbara, CA
5	Greylock Partners	Waltham, MA
5	Ignition Partners	Bellevue, WA
5	JumpStart, Inc.	Cleveland, OH
5	Menlo Ventures	Menlo Park, CA
5	Morgenthaler Ventures	Menlo Park, CA
5	New Jersey Economic Development Authority	Trenton, NJ

* First sequence financing in startup/seed or early-stage companies.
Note: Due to ties, there are 144 firms in our listing.

Click here for the rest

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Happy New Year 2012 Song

Nigerians Report is wishing you all Happy New Year 2012!



Special thanks to the following good people and companies who supported Nigerians Report in 2011.

1. Ingram Osigwe of Full Page Communications Limited.

2. Femi Awopetu of The Quadrant Company

3. Mouka Limited

4. St. Rita Tomatoes

5. Mr. Hope Obioma Opara of Supple Communications Limited

6. Faruk Lasaki of Art Resources Entertainment

7. All our readers and subscribers in Nigeria, the United States of America, the UK and other countries in the world.

May the goodness and mercy of our Creator JEHOVAH God continue to be with you always.

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