Habyb
@eta_habyb
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Learning | Rossoneri #EndPoliceBrutality
Lagos, Nigeria
Joined March 2012
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Pinned Tweet
"We can't have a system that is better than the context we are living in."
NCDC Boss.
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Like Nigerians trying to encourage farming when food inflation is 40%.
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Met Lagos IGR at N382bn (2018) now at N803bn (2023).
Oyo N25bn to N52bn.
E joor na.
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They say Cardoso should be using his personal monies to clear FX backlog.
Headmaster should not touch the precious reserves.
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Cardoso came in when Gross FX Reserves was around $33bn paid around $6bn in backlog and still has $37bn Gross Reserves.
👏👏
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No lies told.
This man established what is now Galaxy Backbone. The ICT & Shared Services provider of the FGN.
First subnational FTZ in Nigeria.
First to establish contributory pension before LASG & FG.
Pioneered UBEC.
The youngest of 99 is 60 today. Elected at 35. Saminu, one of the world's smartest. Though with an inherently "restless spirit" Happy Birthday. Congratulations. To God be the glory.
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Rice is not a luxury item and it shouldn't attract 80% tariff.
It is wickedness.
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There is a problem with our system.
We don't need a presidential order to fix every problem.
Tinubu orders sanction of civil servants drawing salaries after relocating abroad
President Bola Tinubu has directed that all civil servants who are drawing salaries from the government after relocating abroad should be made to refund the money.
The president also directed that
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Bosun's Ministry has only collected 6.47% of its FY budget (12% of H1 budget).
Nawa.
Similarly:
Women Affairs - 6.8%
Water Resources - 2.41%
Power - 2.08%
Transportation - 3.47%
Housing -2.21%
Foreign Affairs - 5.82%
Ko si owo. (Broke)
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@kc_journalist
@woye1
Putting concessions on hold is opening yourself to litigation.
Same applies to Nigeria Air.
I don't know if the previous process is all proper but you can't just put things on hold via fiat. There should be a process for this.
We also need to show we are investors friendly.
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CBN actually released a detailed list of the auction result.
Very good.
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Started and finished a Rail project by a State Governor.
Koseleri.
Lagos Red Line.
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There is no reason why the Power Sector shouldn't get the urgency we are giving the 'laudable' Coastal Road project.
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We are not ashamed to import these items it is essential food items we draw the line.
Okay.
Nigeria imported over $1.1 billion worth of cosmetics, perfumes, others in 2023 -
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Even Fashola cannot claim to have done more projects than Sanwo.
He is clear.
This debate is an entertainment.
There are areas where Fash is better, no doubt.
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Without significant increase in our oil production numbers urgently, the Naira is doomed.
70-85% of Federation Oil is already committed to one deal or the other. So despite oil production been below our record high, we are only getting value for only about 15%.
Good luck to us.
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One of the basic principles in Economics.
Opportunity Cost: There is No Such Thing as a Free Lunch. People and societies face trade-offs.
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People are suggesting we should employ graduates of CITN/ICAN to stop and check if a truck driver have paid the correct levies/tax to the LGA account?
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Not agreeing on a new minimum wage (by May 1), is not a good thing.
Wages need to increase.
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Only 35% of MYTO will now go through NBET.
DISCOs to buy 65% of their MYTO allocation directly from GENCOs.
Govt subsidy to reduce, GENCOs to be more liquid.
Interesting times.
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One state have started 2025 budget preparation.
With stakeholders consultation ongoing.
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@WaleMicaiah
@yojora
That is why people call Nigeria a crime scene.
The budget is public with all its 'details', same with the Audit Report.
My people just move on to the next 'hot' topic.
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I have reported that EFCC post for violating privacy rights.
You should do the same.
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This is major key.
#RailUPng
The
#LagosIbadanRail
will include 5km of Rail Lines within the Apapa Port Complex, & an 8km Rail Line connecting the Apapa Port to the Ebute Metta Mega Station.
At the site of the Ibadan Station (Moniya), there will be an Inland Container Depot to process containers from Apapa.
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Unfinished Business
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This is intentional then.
I searched "Why is food prices cheap in the UK?". The result - "It currently imports about half of all its food, up from a third in 1988. Retailers are able to source foods cheaply from around the world...".
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I have never seen such an ambitious *redacted*, even much so in broad day light.
N15tn not on a gas infrastructure or intercity rail.
The whole of the Renewed Hope IDF is planned to be N20tn but we want to use 75% of it on one road.
Well done to all of us.
Lagos-Calabar highway: FG plans compensation in nine states, puts cost at N15tn
Read more:
#ElectionNewstrend
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@DrJoeAbah
@buypowerng
@aedcelectricity
Pic 1: Old Tariff
Pic 2: New Service Reflective Tariff started in 01.09.2020
Pic 3: SRT suspended due to pressure from labour around 28.09.2020.
Pic 4: Commencement of Revised SRT 01.11.2020
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Going back to pre-Emefiele inflation figure will take at least 4 years of hard work (solid ones).
Better slow down your expectation.
Given our incompetence, it may be longer.
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Amplification by the State House was very inappropriate and should be sanctioned.
I have said this much to people I respect here.
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The regulatory benchmark is 200ppm.
If you choose to refine above our quality requirements what is stopping you from selling it to where is required?
EPA benchmark in the US is 500ppm.
NB: Nigeria needs cheap fuel, more than it needs clean fuel.
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Farmers won again.
Apparently, it is not zero tariff on food items but on raw materials.
Suffer.
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Lagos have data exchange amongst its MDAs?
They are now rejection CofO approvals, if your building worth cannot be reconciled with the PAYE paid over the years.
Interesting.
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World Bank have release Nigeria's Development Update for H2'23.
See Key Slides:
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Most food are perishable, the farmers are not as stupid as politician that hoard indomie.
They think everybody is like them.
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We don't want our government to tax us (generate IGR) and we also don't want it to incur huge debt but we want development.
How?
I need to learn.
I need to find that Awolowo statement that Fashola referenced in his budget speech.
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My thoughts on the CBN backlog.
I doubt we have seen any of the agreed (line of sight 😔) inflows PBAT or Wale Edun spoke about.
My guess on what we saw is from the additional inflows from increased oil production in the past few months.
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We need to increase oil production output.
Every other thing is just story.
To do that, you need further investments.
Going public will help you.
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Just entered the Lagos Revenue Portal.
They have my details but got my gender wrong.
My Motor Vehicle license payment done in 2022 was there. They even say I am owing them N200.
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Lol.
I see why people become Yoruba fundamentalist cos what is this?
I was at Balogun/Mandillas market yesterday with a colleague and I called his attention to something I noticed among most guys there:
1. The Hausas were busy with their gold and bureau de change businesses.
2. The Igbos were busy with their clothing and fashion accessories
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Electricity Capex cost:
$1m for very MW in the generating plants.
$1m for every 33KV transmission line per km
$0.4m for every 132KV transmission line per km
Capital intensive sector.
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Coastal Road for the win.
Please note that a particular equipment that ensures grid reliability - SCADA is lacking in Nigeria's transmission network. We have been struggling to fund it. I think WB is helping out now.
Just highlighting more impactful projects that we need.
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The irony.
Saying Nigeria's problem are not hard to solve, but wants a dictatorship to solve it.
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For better context of Dangote US import decision.
This is a 2019 data.
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Lagos - Abeokuta Road
Abuja Kaduna Kano Road
Ibadan to Kano Rail Line
OB3 Gas Pipeline
Apapa & Eastern Port Upgrade
AKK Gas Project
Refineries Rehab
Fiber Optic Cables & New Satellite
Rural Access Roads
Agro Processing Zones
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Truth may be slow but will be out surely.
I remember when my good friend was fascinated by their PR videos.
Port Harcourt Refinery To Begin Operation Before December 2024 – Senate Committee
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Waterways
Rails
Hospitals
Roads
Schools
Public Works
Social Infra
Revenue Mobilization
Please na!
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Q3 as promised.
Neat.
Our committee has submitted 10 new tax bills to NASS for constitutional amendments - Oyedele -
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Band A to enjoy.
NERC have secured a guaranteed supply from GENCOs to the DISCOs for them.
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I need Lagos State to finish the Central Food Security Systems & Logistics Hub.
We need one or two at least per region.
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LASG sent the lawmakers on retreat to learn about electricity market before the bill was presented before them.
Interesting.
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Dangote have never gotten anything easy, the stakes are just higher now.
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Nothing can and should replace state capacity.
See this thread.
We have SON, FCCPC, NAFDAC and many others but this still happens. So sad.
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Chinese have been using merit to select civil servants since early history but started written exams in 607.
607 is quite a long time ago. See State Capacity.
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June 2022! 😱 is too far. Lagos Ibadan was completed under 3 years.
Maybe you mean Okokomaiko to Marina.
Mile 2 to Marina stations has been completed, pillar across the Marina too is complete. WTH are they doing till 2022.
@Mr_JAGss
Workers resume construction at the 27km Blue Line of Lagos Rail that will run from Marina to Okokomaiko . By June 2022, commuters will be able to move from Marina to Mile 2 by train. Progress has also been made in the Lagos Lagoon bridge for railway movement . Sanwo-Olu 🙌🏾.
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Progress made even with $2.4b (invalid) backlog still outstanding.
Cardoso clearly defined what is the meaning of invalid. Check out the interview with Arise again.
I don't have enough info to engage in the Airline debate
Bottomline: Progress made. We await impact on FX supply
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Started demonizing IOCs on international stage.
In case you all have forgotten.
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Don't let anybody bobo us, inflation (price stability) is a CBN problem and they are not supposed to fix it by using quasi-fiscal tools.
They will use monetary tools - i.e. interest rate etc.
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Crude Oil theft losses: 100k - 120k at its peak. According to NUPRC Chief.
The weapon fashioned against us is under-investment.
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Every one needs to read the TTTEconomist book.
Education,
Electricity &
Fertility.
These are your policy focus areas.
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Macroeconomic Objectives:
1. Output Growth
2. Full Employment
3. Price Stability (Goods & Currency)
4. Balance of Payment Equilibrium
5. Equitable Income Distribution
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Back to where we started.
Waste of suffering.
Who will believe in any subsidy reforms again?
“The Plan further noted: “At current rates, expenditure on fuel subsidy is projected to reach N5.4trillion by the end of 2024. This compares unfavourably with N3.6 trillion in 2023 and N2.0 trillion in 2022.” Wale Edun.
Fuel Subsidy is back
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NASS is always enjoying.
First line charge.
June YTD budget achievement 50%. No story.
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Na Navy Chief dey report the phantom increase for August.
Nigeria’s crude output rises to 1.7 million bpd amid crackdown on oil theft - Navy Chief -
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We no make am at 450k barrel per day but we expect to make it at 200k barrel per day.
Half of which is already ring-fenced to repay gbese.
Doom.
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Dangote knows his business more than his employees.
Correcting the mistakes they made on his Slides by heart.
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Apparently, the forces were not just ordinary farmers.
@ChampagneDT
&
@Tolu__Grey
FYI.
Akinwunmi Adesina faults FG’s approval of duty-free food imports, says policy is depressing -
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Nigeria’s central bank Governor Olayemi Cardoso says the bank is “relatively pleased” with the progress it has made in stabilizing the naira and believes the excessive volatility may be a thing of the past via
@economics
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We are observing table manners for now.
Dangote mega-refinery is taking more of the country’s own oil for processing, as inflows from the US appear to be waning
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Our NASS spent billions on new chambers, we still can't get who is voting for or against a bill.
That is the only way we can get insight into the minds of our representatives & what the parties represents. How are the new parties candidates voting? etc.
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Check the CDCU app bro.
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Refinery Economics 101: Dangote’s WTI Crude Import Strategy
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@Mr_JAGs
@OneAsiwaju2023
@FansofTinubu
@Baticonline
@TinubuOnDStreet
@tunderahmanu
@ekometa
Is that police the present Oniru?
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Like Dr. Idowu said, the first thing we need to solve for is the value chain mismatch and never allow it to happen again.
Generation: 13,000MW
Transmission: 8000MW
Distribution: 5,000MW
We need to align these capacities as a matter of urgency.
If you are ever tempted to think that our power generation companies can't improve their supply, then spare just four minutes to read this. I wrote this in 2016 after a privileged tour of two power plants and conversations with their management and other stakeholders. It was
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UK model or US model.
Allow food be imported cheaply like UK or heavily subsidize our farmers like US?
PS: Food in UK is still cheaper than US.
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Nigerians are now learning both basic and complex macro economics.
So sweet.
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Good decision on price control board, bad decision on not allowing food importation.
We can't cultivate massive food within 6 months or can we?
Dear Nigerians,
My administration is dedicated to evolving home-grown solutions to tackle our nation's food security challenges head-on including setting up schemes to bolster local food production and cut out all forms of rent-seeking tied to food importation.
I reiterated
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@UntimelyMa
If we keep to our reforms, it will get better.
The problem is and always been the lag time (interpret as the suffering time for Nigerians) should be shorter if we are more intentional and move more urgently.
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My offer is still open for anybody that knows Gbaja.
I want to gift him this book.
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My country:
Nigeria places high effective duty rates on imports into strategic sectors to boost the competitiveness of the local industries. In agriculture, wheat (85%), sugar (75%), rice (70%), and tomato paste (50%) see the highest supplemental tariffs...
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Like someone said, we owed Airlines that equivalent for months.
This is the first major intervention.
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Many great people that we don't know their stories.
Meet Engr. Clement Onyemelukwe.
The Man Who Designed Nigerian National Grid. He is regarded as the "Father of Electricity" in Nigeria.
All you need to know about him? It's a Thread!
Retweet to educate someone
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Oil prices are lower now (Budget Benchmark Price: $77.96, Brent Crude Price: $76.29) and we still are not yet able to ramp up production, so double whammy.
According to IMF, for Nigeria to have fiscal breakeven we need oil price to be at $156, Angola needs it at $52-ish.
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I am tweeting this for when Obaseki comes to talk about good governance.
He governed the state for years with only 9 house of assembly members out of the 26 members.
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10 lane Lagos-Badagry Expressway Phase I & II. Phase I was inherited.
E daa kun.
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