Speaker 1: Hey folks, good evening again and welcome to another space
Speaker 1: with me carlu Agia. Of course, on this space every Sunday,
Speaker 1: seven pm West African time, we're talking money, the economy
Speaker 1: and of course finance.
Speaker 2: Right.
Speaker 1: So I was away last week. I had to go
Speaker 1: to the UK on a personal mission, and I must
Speaker 1: say I did post a lot of stuff about the
Speaker 1: UK and I did meet a lot of people. I
Speaker 1: think on my last day in the UK, I was
Speaker 1: on I was at Oxford Street, the famous bunches and
Speaker 1: all that, and I did meet about four or five
Speaker 1: folks that saw me on Twitter and said hey, where
Speaker 1: are you? Want to come see you and we're able
Speaker 1: to just meet talk, you know, just reminisce, have lunch
Speaker 1: and dinner early industries. I was there for almost six hours,
Speaker 1: you know, metprov met a group of ladies, met a
Speaker 1: few other guys. So it was very nice that we
Speaker 1: were you know, so it's able to meet folks outside Twitter,
Speaker 1: and I did. I really, I really appreciate it. But
Speaker 1: I missed you guys. Hence we're back. And whilst I
Speaker 1: was away, you know, there was this topic that I
Speaker 1: was seeing come up all the time, the President's announcement
Speaker 1: about the spending that was being done on infrastructure really
Speaker 1: across Nigeria. This particular announcement team that she goats the airport.
Speaker 1: It's not the first one he has done. He's done
Speaker 1: a lot of announcements as she got the infrastructure spending
Speaker 1: in Nigeria. But this particle on I think sort of
Speaker 1: tipped the scale into the commentary and the followership, and
Speaker 1: I think folks would decided to question if there's been
Speaker 1: a should we say is spread of the spending by
Speaker 1: this particular administration. And I've also been on Twitter talking
Speaker 1: about this, so I said, it's been a good topic
Speaker 1: for us to talk around. When I get back on Sunday,
Speaker 1: that's what I want to do today. So again, this
Speaker 1: is a topic where there are no right or wrong answers.
Speaker 1: It's just going to be really opinion. You know. I'm
Speaker 1: going to try to lay out the should we say?
Speaker 1: The frame will give you the data and the context
Speaker 1: to the conversation, but it's going to be really your
Speaker 1: opinion what you feel if you feel the government is
Speaker 1: investing across the board, or if you feel it should
Speaker 1: do better, or if you feel like some would say
Speaker 1: that we should focus on the numbers where the activity
Speaker 1: is focused on investing there. So I'm just going to
Speaker 1: give it again context and data. If you have your opinion,
Speaker 1: please request for the mic. I will handle the mic
Speaker 1: to you. Keep it short a minute or two, give
Speaker 1: us what you feel and then will learn. So let
Speaker 1: me give you the context and why I'm bringing in
Speaker 1: Federal character into this. Nigeria has a law called the
Speaker 1: Federal Character. In my view, this is my opinion, my opinion,
Speaker 1: that's the worst law ever in the history of Nigeria.
Speaker 1: Why because that law guarantees spending. The Federal Character Law.
Speaker 1: If I could paraphrase basically say that whatever you do,
Speaker 1: you have to do it with the quote unquote, you
Speaker 1: have to do it as if Nigeria is involved. What
Speaker 1: that means is this, if you want to appoint ministers,
Speaker 1: you can't appoint twelve ministers. You can't appoint six or
Speaker 1: eight or ten ministers. You must appoint TESTI six ministers.
Speaker 1: Why because the Nigeria has tenty six states. So you
Speaker 1: must run your cabinet and your government in a way
Speaker 1: that reflects federal character. That's why you see that the
Speaker 1: six ministers. You can have twelve ministries, but you must
Speaker 1: always have at the minimum TESTI six ministers because you
Speaker 1: have to run your governments according to federal character. That's
Speaker 1: what the law implies. So when you employ in the
Speaker 1: Nigerian Police, if you want fifty, it's not possible unless
Speaker 1: you want to take one one per state. You have
Speaker 1: to employ from all TESTI six states of Nigeria if
Speaker 1: you want to if you want to do anything. So
Speaker 1: now let's now go towards the economic side of it.
Speaker 1: What about if you want to build a road. If
Speaker 1: you stretch that argument because you must run your administration
Speaker 1: to reflect the federal character of Nigeria, then that means
Speaker 1: that if you build a road in the southeast, you
Speaker 1: must build a road in the southwest because you want
Speaker 1: to be balanced. You know federal character, which is that
Speaker 1: word for balanced. I give an example. Look at the
Speaker 1: still plants that are in Nigeria. Remember that when we
Speaker 1: build did the still plants, there were no regions in Nigeria.
Speaker 1: When we stay did all the still plants, there were
Speaker 1: no regions. We just had states. Right, were still plants
Speaker 1: in Ajaokuta, So that's central, right. Weber still planted in Katsina.
Speaker 1: We we still planted in jos Weber still planted in
Speaker 1: no Shobo, Web still plants in Delta. So there's no
Speaker 1: still plants in the whole of the Southeast. Many reasons,
Speaker 1: but there's no still plants in all nor the Southeast.
Speaker 1: So there's federal character in the eleocation of steel plant
Speaker 1: but avoiding the Southeast. We have the research instit in
Speaker 1: the in the India in the East, but not still planned.
Speaker 1: Same with airport, we had the airport in Inuguti, International
Speaker 1: Airport in Enugu, but it's been there. It was it
Speaker 1: was an airport, not an international airport. It just an airport,
Speaker 1: not international. But all regions had international airport again because
Speaker 1: again you have to spread distance across Nigeria. But the
Speaker 1: Southeast they didn't have intertional airports that eighteen and all that.
Speaker 1: Same with trade zones, you had trade zones all over
Speaker 1: and the Southea didn't have a trade zone. But that's Southeast.
Speaker 1: But when you run the operations of Nigeria, when you
Speaker 1: look at Nigeria as a whole, when you do things
Speaker 1: like you do the Petrilum Trust Fund, when you do
Speaker 1: show Pee, when you do investments across Nigeria, there is
Speaker 1: always a tendency that you balance out suspending because you
Speaker 1: want to sort of take that box on federal character.
Speaker 1: So if you're building a road here, you want to
Speaker 1: build a road there. Of course, you can't build ports
Speaker 1: in every part of the country, but again you get
Speaker 1: the point at making. Let's fast forward to PTA. PTF
Speaker 1: was all across Nigeria. That was under General Bacher and
Speaker 1: Bohario was the guy around the PTF just all across
Speaker 1: Niger about projects all across Nigeria. My school saw PTR project.
Speaker 1: I know your school also saw PTR plus across the
Speaker 1: board and we all saw that right shore p also
Speaker 1: all across the federation. We did see bosses across the
Speaker 1: federation employment all that. The t really have a specific
Speaker 1: fund that has been created for the excess cool that
Speaker 1: they have saved from robot subsidy. They don't have a
Speaker 1: specific fund. They have a fund that in the book
Speaker 1: created If you look at the very very first fact
Speaker 1: after fact after the subsidy was created, there was a
Speaker 1: fund that money was taken from the fact proceeds and
Speaker 1: put into that fund. I believe the first one was
Speaker 1: about fifty percent and subsequently been taking moneys from fac
Speaker 1: and put into that fund. Then again, let me give
Speaker 1: you a history. Boo Harry. When Buhari was the president,
Speaker 1: bo Harris had something called the Presidential Initiative Infrastructure something
Speaker 1: like that. Essentially, what they did was that they created
Speaker 1: a fund and they put in the dividends their independent
Speaker 1: revenues maybe dividends from nagural quite natural gas. They put
Speaker 1: it into that fund. When they put into that fund,
Speaker 1: they are able to spend that fund by passing National Assembly.
Speaker 1: Why by Persson National astand because according to the laws
Speaker 1: of the Federation, you cannot spend any moneys unless National
Speaker 1: Assembly appropriated about sexual Section eight of Natural Constitution. So
Speaker 1: when you create a separate fund, in their mind, you
Speaker 1: are bypassing the need to have National Assembly authorize that spending.
Speaker 1: That's why they do it. So bo Harry had that
Speaker 1: fund and all that fund was also where we paid
Speaker 1: in the proceed of their bachelor loot. The bit of
Speaker 1: it was paid in there worlds gave a bit of
Speaker 1: it natural Sovereign Wealth fund and that's where we then
Speaker 1: took those funds and then do infrastructure bypassing National Assembly.
Speaker 1: Presenting the book has supercharged that fund. Really supercharged that fund.
Speaker 1: He has created his own fund right and that fund
Speaker 1: has now accumulated right in excess. The money is in
Speaker 1: excess of what is available right in the budget. So
Speaker 1: let's say the budget of Nigeria, let's look at what
Speaker 1: we're talking about. The airport want to spend about seven
Speaker 1: hundred and twelve billion. The total allowance, the total budgety
Speaker 1: allowance for the measure of aviation and ministure of transportation
Speaker 1: is not up to seven hundred billion. So that fund
Speaker 1: alone has got an accumulted more funds than the ministries
Speaker 1: that are actually in charge of transportation and aviation. So
Speaker 1: the president has basically taken funds from the val of subsidies,
Speaker 1: putting a separate fund. And that separate fund essentially what
Speaker 1: is then using to spend at will without going through
Speaker 1: the National Assembly. So Tabu, how you did it? Tinabu
Speaker 1: has simply supercharged it. So the question is that is
Speaker 1: that now if you don't come back to this compt
Speaker 1: of federal character, how should that now operate. First of all,
Speaker 1: that fund is in it self illegal because you cannot
Speaker 1: take moneys out of tax. You can't take any revenues.
Speaker 1: What is tax revenues? What else independent revenues and spend
Speaker 1: without the National Assembly authorizing it. You can't again section eighty.
Speaker 1: I'm going to retweet it again for you guys, so
Speaker 1: you can also read it again. I just read section
Speaker 1: eighty because my Twitter feed. I just pret there. You
Speaker 1: can read all the sections eighty one. No money shall
Speaker 1: be withdrawn from the Consul Revenue fund except in this
Speaker 1: proscam National Assembly. No money can be withdrawn nothing can.
Speaker 1: You can't spend public money unless National Assembly authorizes you too.
Speaker 1: So that is pretty clear on that, right. So then
Speaker 1: when you don't have a separate fund, are you able
Speaker 1: to take money from that and spend No. First of all,
Speaker 1: it is illegal. But number two, let's assume it is legal.
Speaker 1: Can you then spend that money without going through the
Speaker 1: issues of federal character. That's not the main question. Can
Speaker 1: I say, yes, I have a fund and that fund,
Speaker 1: I can just spend eighty percent of that money in
Speaker 1: the region. That's now the question we won't talk about
Speaker 1: on the space. Is it possible? The PRENDS is spending
Speaker 1: about seven hundred and twelve billion renovate just one airport,
Speaker 1: just one airport in Legos. The total budget of the
Speaker 1: Newstry of transmition about two hundred is one of the
Speaker 1: six billion mins of aviation about seventy two billions just
Speaker 1: the aviation ministry alone, if you remove the training schools
Speaker 1: and all that just some two billion. So I can
Speaker 1: say that we have money in excess in this fund
Speaker 1: that the president has. Which is the name of that
Speaker 1: fund if you want to get the exact names, the
Speaker 1: Renewed Hope Infrastructure Development for the RGE idea, the Renewed
Speaker 1: Hope in the fras structuredent phone. So he has taken
Speaker 1: money from the roomal of field subsidies put into the
Speaker 1: RGE IDF and then he's now spending the money from
Speaker 1: the average IDF at will however he wants. Right, So
Speaker 1: let me also give you what the RhI idea from
Speaker 1: to spend money on. Because I've given you now I've
Speaker 1: talked about how Nigeron is set up. You can't spend
Speaker 1: money without the National Assembly. Number two, we have federal
Speaker 1: character that say that when you do stuff in Nigeria,
Speaker 1: you have to reflect federal characters. So we have those two.
Speaker 1: We now come to the outage idea of you need
Speaker 1: hope infrastructure of fun and we're now asking a question
Speaker 1: can the presidents spend money from the from the subty
Speaker 1: funds without going International Assembly Number one? Number two can
Speaker 1: he do this in any way he wants? Where else
Speaker 1: are they spending? This Money's on the Legos Caliber Coastal Highway.
Speaker 1: The money's coming from this overage idea. That's the one
Speaker 1: trill billion you hear in dollar borrowing. It's come from
Speaker 1: this fund. But a great espece way come from this fund. Legos,
Speaker 1: Canno and Eastern rail lines also coming from this fund.
Speaker 1: So it's all coming from a fund that is not
Speaker 1: going International Assembly and seems to be weighted towards a
Speaker 1: particular region. I'll give you more proof on this and
Speaker 1: this guy. I'm going to stop to let you guys
Speaker 1: helping and give you a comment. So if you do
Speaker 1: no request, just do a request.
Speaker 3: Now.
Speaker 1: Let me give you also the project that we're doing
Speaker 1: from this fund. Legosy bout An Expressway one hundred and
Speaker 1: ninety six billion from this fund, the seventh AXL Highway
Speaker 1: about about one point two trillion, Multila Mouhammed Airport seven
Speaker 1: hundred and twelve billion just to fence the Legos Airport
Speaker 1: fifty billion, Lego Sagamo Road eleven billion, Lucky Service laying
Speaker 1: one to fifty eight billion Legos. But I talk to
Speaker 1: Expressway one point six trillion. There arefour breasing Legos want
Speaker 1: to rehabilitate. There's no cost yet on that. There's a
Speaker 1: two billion for Legos light trail. So again we're taking
Speaker 1: moneys again here here me, we're taking moneys. We're federal
Speaker 1: moneys from the whole of subsidy to a fund set
Speaker 1: up by the president. Then the president is unilaterally taking
Speaker 1: the money, the federal money from that purse and giving
Speaker 1: it to a state to invest in their light trail.
Speaker 1: Nothing wrong with that in my view. But other states
Speaker 1: have light rails? Are you going to do that for
Speaker 1: other states as well? So this is federal money going
Speaker 1: to a state project, not appropriated by NAS. Nothing, just
Speaker 1: it's going to go from the federal to the state.
Speaker 1: This so it's all it's if you just look at
Speaker 1: the numbers, it seems to be either the project start
Speaker 1: from Legos or terminateing Legos. On Twitter, we always hear
Speaker 1: Legos is crowded, and Legos is crowded. If you live
Speaker 1: in Legos, you know Legos is crowded. As a matter
Speaker 1: of fact, they do nothing in legos in the next
Speaker 1: ten years, You're not going to be able to move
Speaker 1: around the legos. To go from LeKi to say Ecuu
Speaker 1: do by four pm is a death sentence. Really, it's
Speaker 1: it's the traffic, is that tic? So what you do
Speaker 1: if you're a CEO and you have to project and
Speaker 1: you have to invest in one project that the market
Speaker 1: was there, it's a developed market. You want to go
Speaker 1: into that market and expand that market. What should you do?
Speaker 1: Should you go to the developed market or should you
Speaker 1: invest moneys in developing new markets for you to also
Speaker 1: grow organically or should you do both? You can't argue.
Speaker 1: If you argue that we should only developed established market,
Speaker 1: then no foreign firm will come to Nigeria. Exonomobile, forward
Speaker 1: of Boeing, all those comment own in Nigeria. They don't
Speaker 1: need the Nigerian market. They have a market in Western Europe,
Speaker 1: in Asia, but they are here to develop the market
Speaker 1: because tomorrow this nigern market is going to be big
Speaker 1: and then they can transit from the matured market that
Speaker 1: they have in the West towards the Nigerian market. That's
Speaker 1: the whole idea. So if you argue that we should
Speaker 1: invest only in Legos. Because Legos is where the market is.
Speaker 1: Then what happens when that market in Legos becomes matured.
Speaker 1: If you look at the port numbers, nearly eighty percent
Speaker 1: of the import and export go through the paper port.
Speaker 1: From a paper port out of Legos is one express
Speaker 1: road and one railway, just one. So just look at
Speaker 1: the national security implications that if that road, whatever happens,
Speaker 1: if that road is sort of blocked by natural means,
Speaker 1: maybe so we have a flawed or whatever, then eighty
Speaker 1: percent of our imports and our export don't go out.
Speaker 1: So ignore even the federal character part of it. You
Speaker 1: are putting all your eggs in one basket. You can't
Speaker 1: say develop just one part because that's where the market is,
Speaker 1: so that's where the airport's traffic is. If you develop
Speaker 1: all the other markets and all the clusters, then the
Speaker 1: market does spread out to those clusters and then you
Speaker 1: can grow the economy pan Nigeria globally. It's not a
Speaker 1: hard concept to grasp right to say we will only
Speaker 1: go to invest in where it's established. I don't think
Speaker 1: it passes the smell test. It doesn't pass the fact test,
Speaker 1: it doesn't pass the constitutional test. It doesn't pass the
Speaker 1: economics business test. No business will say I'm going to
Speaker 1: invest in one shop if I have a shopping on
Speaker 1: a chair, have a shopping legos, have a shopping jobs.
Speaker 1: You say, I'm only going to invest in the shop
Speaker 1: I make my biggest seals, and I'm going to ignore
Speaker 1: the other shops because I make my biggest What about
Speaker 1: the other shops? Is I do know to grow your
Speaker 1: subsidiaries to grow as high as your mean? Okay, Like
Speaker 1: I've spoken a lot, let me stop here. I know
Speaker 1: I've got a bla he wants to speak, and most
Speaker 1: of you, guys, I can receive your DMS already, I know.
Speaker 1: Let's try to make it. You know, I'm going to
Speaker 1: be very very open to hear your opinions. Like nobody's wrong.
Speaker 1: So let's hear you guys. I'd lie. How are you doing?
Speaker 1: Thanks for hopping in here. What's your take on what
Speaker 1: we're talking about? Infrastructure and the spread? Should we use
Speaker 1: federal character to do infrastructure? Apply? What do you think.
Speaker 4: I'd like him?
Speaker 1: You got on mute my brother, and then you can speak.
Speaker 1: All right, let's that's a gospel gospel r X. How
Speaker 1: are you gospel? Okay? I've got gospel, I've got Abdullah here.
Speaker 1: I'm so sorry. Please go ahead, good good evening for everywhere.
Speaker 4: Wherever in the world.
Speaker 1: That's like, how how are you? How are you doing today?
Speaker 1: If you speak up, I would love it. Where you're
Speaker 1: calling it.
Speaker 4: From, I'm calling you from Nigeria.
Speaker 1: Okay? Perfect? What's your take on the topic. It's a
Speaker 1: wide topic, but what we want to focus.
Speaker 5: On, Like the topic is like leg talk about his
Speaker 5: per structure, spending and better.
Speaker 4: Character in Nigeria.
Speaker 5: So what I'm trying to say is that the infrastructure
Speaker 5: is the fault or is this spending all the difficulits
Speaker 5: in the given contract to the contrast sour those.
Speaker 4: Are genius or both the consign that we as niger
Speaker 4: we should be more.
Speaker 1: I think the main concern is that some some folks
Speaker 1: in regions outside Legos feel that the federal development is
Speaker 1: not getting too their regions. We have all we let's
Speaker 1: look at us at ports. For instance, we have three
Speaker 1: ports in Niger that are functional. Then we have the
Speaker 1: on air, so we have on air and the three ports,
Speaker 1: and the three ports are in Legos and we're building
Speaker 1: a brand new port in Legos. We're also expanding the
Speaker 1: ports in the paper. But so folks are asking, why
Speaker 1: are we're putting everything in just one region and over
Speaker 1: crowding directionion, why don't we develop the dou port, the
Speaker 1: caliber port, make them as big as a paper. Abia
Speaker 1: has no ports, They can't have a port. I don't
Speaker 1: think they are seaborne. But do has a port? Worri
Speaker 1: has a port, Calabar has a port. Yeah, that's the point.
Speaker 1: So what what's your take on this? Do you do
Speaker 1: you feel this less developed legos make it really large
Speaker 1: and more than or do you think spread that's what
Speaker 1: about the federal character. That's where we're you're talking about.
Speaker 5: Legos. So like the president is concerned, like it's not.
Speaker 4: That it's not it's not the developing legos. It's just
Speaker 4: developing himself.
Speaker 5: That's what I would say, because they will say they
Speaker 5: are collected revenue.
Speaker 4: Who is collecting revenue?
Speaker 3: And probably.
Speaker 1: Seems that the go ahead, go ahead, real quick, go ahead, second,
Speaker 1: go ahead, real quick.
Speaker 5: Random everybody knows how everybody know how the revenue is
Speaker 5: generated and how it goes. So we have Nagia in particular,
Speaker 5: every everybody has has in every state or every part
Speaker 5: of you like you have spending problem. Everoul politicians that
Speaker 5: you want to conte you will say that I want
Speaker 5: to pull people out of poverty like an.
Speaker 3: Hello, I'm still am.
Speaker 1: I yes, round up, I'm sorry about that.
Speaker 4: Okay.
Speaker 5: So, like I think we have to go back to
Speaker 5: the table and this everybody should be sincere to inself.
Speaker 5: It's either we are really like want to develop ourselves
Speaker 5: or want to keep ourselves in poverty, or we are
Speaker 5: leaving concerned because we are Annia. Everybody will say I'm Muslim,
Speaker 5: I'm Chrystal, or I'm from Dysuli, I'm from that.
Speaker 3: So to even talk to.
Speaker 5: Each other people, I think as something has ship or
Speaker 5: something that you should be so I can or to
Speaker 5: behave anyhow to somebody or to so that there we
Speaker 5: have as in communications like communications is very concerning myself
Speaker 5: someone do we talk to someone or in a serviss
Speaker 5: manner that you MA can understand what you are trying
Speaker 5: to explain.
Speaker 4: People are finding.
Speaker 5: Difficult because they're out of school, as in all those
Speaker 5: things are the now new way am I Like I'm
Speaker 5: seeing people that are know have the opportunity to go
Speaker 5: to school is denying from them as in they are
Speaker 5: just learning about food is a major concern that people
Speaker 5: that wake up they don't know where they will.
Speaker 1: Let me ask let me ask you a question, who
Speaker 1: do you Who do you think in relationships which will
Speaker 1: hold for food and education? Is it the president or
Speaker 1: your governor? Like your governor is in charge of food,
Speaker 1: is in charge of education? Who do you think is
Speaker 1: responsible in your states? Who interview.
Speaker 5: My governor now for this that his collecting state location?
Speaker 5: So how is he spending? Let me it's not like
Speaker 5: I'm trying to governor like this woman, this person, I
Speaker 5: don't know where he's heading to before like they used
Speaker 5: to keep every governor. He's trying, no matter how, students
Speaker 5: to get their scholarship all this like meeting, I don't know,
Speaker 5: like how is he doing it? Because even to provide
Speaker 5: the scholarship now is finding it is becoming difficult to
Speaker 5: Students's just finding some students there into there are kind
Speaker 5: of guither people for him.
Speaker 4: He would just give them without having it for helm.
Speaker 1: So all right, no worries. I'm like, thank you, I
Speaker 1: appreciate you coming in here. Thank you gospel hop writing.
Speaker 1: What's your take? Yeah, thank you, pleasure, Yes I can.
Speaker 1: Good day. We're talking, of course, the infrastructure. We're talking
Speaker 1: for the characters a white topic. Do you think the
Speaker 1: present is tilting too much on one side? Do you
Speaker 1: support the view that we should invest where we already
Speaker 1: have a established market so that we make those ones
Speaker 1: more productive. What's your taking all these.
Speaker 4: Yeah, definitely, Calor, thanks for being in this topic.
Speaker 6: Of course, anybody who knows you know, who can see
Speaker 6: through the air what is going and knows that what
Speaker 6: is going on is completely unfortunate. You mentioned it already.
Speaker 6: You have legos to the small lested in the country
Speaker 6: and your carriage, or you already have functional apports in
Speaker 6: a day, and then you want to see the blow
Speaker 6: for the airports instead of going down to the south
Speaker 6: Sea rivers where you have your own airport that you
Speaker 6: that is barely functioning, and putting them on so you
Speaker 6: get it functional, or even go as far as Calabau
Speaker 6: do it will use. The congestion in Legos makes these
Speaker 6: goods go faster to different locations, to the shops. The
Speaker 6: guy in all can get these goods easier closer from
Speaker 6: Legos from but accordingly weed from reverse from Legos analem
Speaker 6: cities came.
Speaker 3: I'm from Reverse.
Speaker 6: Where the resources that is used to make this.
Speaker 4: Infrastructure interventions come from.
Speaker 6: So I feel very sadly about all of this, to
Speaker 6: be honest with you, because you have a stitution where
Speaker 6: there is all over centralization of resources in one place.
Speaker 4: And sometimes from what I was thinking, and.
Speaker 6: You're wondering, oh, are you sure we don't have an
Speaker 6: ulterior motive in all of this? What if they're planning
Speaker 6: for maybe a post if you like Nigeria United Nigeria
Speaker 6: after dinner. I hope this doesn't happen anyway, but I
Speaker 6: mean some people are starting to think in that direction
Speaker 6: as well, because the other centralization is not good for
Speaker 6: us at all.
Speaker 4: You talk about federal character.
Speaker 6: Of course we've seen, you know, nepotism in full bloody
Speaker 6: like display and people are not happy about it. But
Speaker 6: some people will tell you. For example, I was reading
Speaker 6: saying that we did not cry about it, you know,
Speaker 6: yet they were. They cry about it to they're referring
Speaker 6: to the body government and maybe he's looking to some
Speaker 6: power brothers from the not but generally what is bad.
Speaker 6: It's bad because if you nursy because they did not
Speaker 6: complain during Bohari, so they should not complain now. Hard
Speaker 6: by tomorrow some guy from the southeast comes in and
Speaker 6: then he takes everything to the southeast. Is that how
Speaker 6: we are going to agree country? If it goes that
Speaker 6: with someone in our country or not? Is that everybody
Speaker 6: appointed comes from this region? The country can nor move
Speaker 6: forward in that kind of situation. And then I want
Speaker 6: to do, you know, talk on this point before I
Speaker 6: forget in your from your research. Have you ever seen
Speaker 6: a situation in this country? Have you ever happened in
Speaker 6: this country that they fund is you know?
Speaker 4: And the fund is created outside of the.
Speaker 6: Normal government channels, that is not administard or overcited by
Speaker 6: National Assembly. Before this the new whole phone, Is this
Speaker 6: something that has happened before any time? Just trying to
Speaker 6: see this any place they picked up label from.
Speaker 3: No.
Speaker 1: The nearest collection was when bo Harry did the access
Speaker 1: the President's infrastructure fund. When you when President Barry was
Speaker 1: fighting with Master Saraki, he went to borrow twenty two billion,
Speaker 1: the same thing that has happened, right you go back
Speaker 1: in history present. Bo Harry wanted to borrow twenty two
Speaker 1: billion dollars. Nationals Sembly said no. So what they do
Speaker 1: is to take the dividends from Nigelalic financial girts which
Speaker 1: were paid in dollars plus other independence revenues, and they
Speaker 1: put in the particular phone. They then use that particular
Speaker 1: phone to spend by pass nationals. And that's what the
Speaker 1: same template that presidentbu is doing. He's just basically maximized
Speaker 1: on steroids. So you can see the amount of money
Speaker 1: in there is enormous. That it has more money than
Speaker 1: the budget. You know, it's it's crazy. Yeah, that's where
Speaker 1: we are.
Speaker 6: I don't know, man, I really I read about it
Speaker 6: that I'm just starting to wonder.
Speaker 3: I mean, what kind of country. It just looks like
Speaker 3: this country is a.
Speaker 4: Complete banana republic, because all we.
Speaker 6: Are saying that is that you just it's something you
Speaker 6: watch in the movie and you think maybe it can
Speaker 6: never happen, because how can you have more phones like
Speaker 6: you said in the in the in the system that
Speaker 6: nobody checks, nobody knows how they spend when I have
Speaker 6: to show in this country, well for example, now big
Speaker 6: contrast that I you know, projects that I want billions
Speaker 6: of dollars and if you like, and nobody in those
Speaker 6: who is bidding for this contract.
Speaker 3: The processes it goes through.
Speaker 6: It just one money and where that the contract and
Speaker 6: awandered and it goes to one particular company, one particular guy.
Speaker 6: Nigeria has to be very worried about familiar I'm quite
Speaker 6: to worried Nigeria is this kind of you know, a
Speaker 6: lot goes on in this country and you don't even
Speaker 6: know if you want to really continue to talk about
Speaker 6: it or you just want to, you know, remove your
Speaker 6: mind from it, because if you think about this much,
Speaker 6: for me sometimes it gets me really.
Speaker 3: Really really.
Speaker 1: Just to be clear, I know you say that from
Speaker 1: rivers you would prefer they spread it or because the
Speaker 1: argument I'll come back to you to say reverse has
Speaker 1: on their right and the government I know is investing
Speaker 1: in on air. We have the three in legos and
Speaker 1: they are al the biggest three in legos. So just
Speaker 1: to be clear those two legos. Are you saying we
Speaker 1: should invest in their legos or invest in only live
Speaker 1: legos or do new ones? What would you where would
Speaker 1: you fall?
Speaker 6: I think we should spread our hands for that to
Speaker 6: the other parts of the country because if we look
Speaker 6: at it, even though you do not invest so much
Speaker 6: in the current parts in legos, they can if can
Speaker 6: you open some import portapots important and do it openly
Speaker 6: port in Calabar, I mean inland seaports, and maybe you
Speaker 6: go to where they're not dry a pot.
Speaker 3: It's going to reduce the pressure they want.
Speaker 6: The Legos fits, so the infrastructual there may be able
Speaker 6: to cooky with the other assistant from sister ports from
Speaker 6: other parts.
Speaker 4: Of the country. It's also going to make very good
Speaker 4: to the southern part.
Speaker 3: Of the AIA is here.
Speaker 6: It's also going to save our roads from the essensive
Speaker 6: movement of large trops on your road, destroying the road
Speaker 6: and you know, making the place not fit for purpose
Speaker 6: for smaller travelers on your road.
Speaker 3: And I wanted to make this talk about it before
Speaker 3: I hang.
Speaker 4: Clee, do you can you can you wrap your head there?
Speaker 6: I know somebody some people recently have started pacing the
Speaker 6: legal Calabar where somebody was saying.
Speaker 3: If if you've been.
Speaker 6: An ar road before, you content to pray for Tamable
Speaker 6: because it's the congested movement of you know, going to
Speaker 6: his own office.
Speaker 4: Within regods and legos as this.
Speaker 6: But I know to be a cad that there is
Speaker 6: no good root from Legos to a Buja. You cannot
Speaker 6: go on any good root. I'm talking about good room
Speaker 6: and Najeria's standard. You cannot travel on any good root
Speaker 6: from Legos to Abuja, the commercial cabetter and the national capital.
Speaker 3: There is no good route between Legos.
Speaker 4: To Protacles or a Protaco to none.
Speaker 6: You cannot pass. If you're going from a Budja to Protacle,
Speaker 6: you can not pass. From a door you can get,
Speaker 6: you cannot pass, and they do in the good there's
Speaker 6: no good root. You cannot pass Google and then the
Speaker 6: roots are not good as we speak today are one
Speaker 6: of the most importance.
Speaker 4: You know, city centers in Nigeria.
Speaker 3: No good root. You cannot travel on these roots.
Speaker 6: I'm not even talking about this again security, but I'm
Speaker 6: not talking about the quality of the root.
Speaker 3: Can you wrap your head is yeah?
Speaker 2: Any way you can justify living, you know, putting is
Speaker 2: three roots.
Speaker 4: I mentioned Legos to Sorry.
Speaker 6: Legos to Abuja to Protact and even to Protact to
Speaker 6: Legos via the East West Room. It is also not
Speaker 6: passive by my way because my community is along alonger access.
Speaker 6: Is there any justification in your mind why additions should
Speaker 6: not be paid on building a proper route from Legos
Speaker 6: to Abuja and Abuja to Protacto or protact to Legos
Speaker 6: and then channeling trigions of Nigeria to open up.
Speaker 3: Legos to Calabaca.
Speaker 4: It just is there anyway makes sense to you, I
Speaker 4: would like to.
Speaker 1: Look at it this way, right. So, the most important
Speaker 1: economic coluse in Nigeria is the east to West trade route,
Speaker 1: the east to West trade route, and the British do
Speaker 1: not build east anything East to West. The British built
Speaker 1: not to start because they were exporting. So you have
Speaker 1: Cano to Legos railway, you have Maju Gride to Protacot railway.
Speaker 1: They are exporting everything out of the port. We're not
Speaker 1: interesting intra trade of Nigeria. But if you connect the
Speaker 1: east to West, your trade and your GDP goes up
Speaker 1: because now you're connecting the economic bells in that southern area,
Speaker 1: the ports where there's a lot of commerce. That's why
Speaker 1: we have what's called the East to West road. It's
Speaker 1: been it's one of the longest perks we've had in
Speaker 1: Nigeria to connect the Legos ports to the ports of
Speaker 1: Dull Worry, arithmetic Alabat We then spurs to the Eastern States.
Speaker 1: It is the longest, one of the longest person has done.
Speaker 1: It's not been completed. My issue with the new Coastal
Speaker 1: Road is that it's a duplication of that East West Road.
Speaker 1: It's already existing. If they have focused on built on
Speaker 1: completing the East West Road, then they would have done it.
Speaker 1: What they've done with the Coastal Road is to start
Speaker 1: the Coastal Road now from from Lecky right and then
Speaker 1: to have a new road, which is which is fantastic.
Speaker 1: That new road is fantastic to it to sort of
Speaker 1: open up the transportation in Legos, bring more productivity in Legos.
Speaker 1: To go from Legos all the way to Uguan state
Speaker 1: that person is on. You can't fault it. It helps
Speaker 1: productivity in the state of Legos. The problem is sent
Speaker 1: that road as Lecky to Calabar Road. I've made a
Speaker 1: tweet before that that road can get company in ten years.
Speaker 1: People are coming up and saying, oh, it's a bad Caramera.
Speaker 6: No.
Speaker 1: If you go ever have the time to go on
Speaker 1: the East to West road, it's a lot of bridges
Speaker 1: from Legos. Legos itself is a swamp. Remember if you
Speaker 1: know Legos very well from Exxonmobile that was all swamp
Speaker 1: and it's this swamp and you're gonna get from Legos
Speaker 1: Old Way to Calibar, So you're gonna build nearly fifty bridges.
Speaker 1: If you're gonna go from Legos Old Way to Caliber
Speaker 1: fifty at the minimum, you've never got to Naga Delta.
Speaker 1: It's called Delta. The name is Delta. Google what delta means.
Speaker 1: So you either have to That's why the East West
Speaker 1: Road did not go to the Delta. It stayed inland
Speaker 1: to reduce the amount of bridges that they would build.
Speaker 1: So I think that's the only problem I have with
Speaker 1: this is to where should the honest is speaking that
Speaker 1: they are selling someone that's not going to be completed.
Speaker 1: There is no way you're going to build this road
Speaker 1: in ten years. It's just not possible because the number
Speaker 1: of bridges that we've done. But in terms of the
Speaker 1: Legos access, the one they built from Lekki to the
Speaker 1: border of Ugan State makes perfect sense. It's helped productivity
Speaker 1: in Legos. But they shouldchange to take the money and
Speaker 1: complete the East to West road and like you said,
Speaker 1: also complete the existing road. The most important roads in
Speaker 1: Nigeria are also those roads that take Rice from Kebby
Speaker 1: all the way back to Legos, back to Portaga. How
Speaker 1: you reduce inflation If there's food cheaper in the cities,
Speaker 1: then of course food inflation faults and fully is expensive.
Speaker 1: Not because we don't have harvests, but the productivity to
Speaker 1: move those harvests from the fields to the cities is absent.
Speaker 1: So gos. But I hope I answered the question from
Speaker 1: the right way in that right perfect Let's go to
Speaker 1: ad dealer. A dealer, you've got the floor. Go ahead,
Speaker 1: sir Gospel, thanks so much for that question. A dealer,
Speaker 1: Auto dealer, you've got the floor. Auto dealer, let's get
Speaker 1: are your DJ hey ID six six foot three inches?
Speaker 1: Is that's what it means? I use six foot three inches.
Speaker 3: I dig.
Speaker 1: I a dig going once, going twice. Bology are you doing?
Speaker 4: I'm fine?
Speaker 1: Please go ahead, so I will fixed. I will fix
Speaker 1: your audio, fix your order, and don't give me toms
Speaker 1: on a back. Fix your order and give me ms
Speaker 1: of a back. Bollogy, please go ahead, bology bog Okay,
Speaker 1: I can, yes, I can say, go.
Speaker 3: Ahead, okay. Thank you for what's in this space. This
Speaker 3: is very interesting topic.
Speaker 4: Yeah.
Speaker 7: Well, I will like to because personally, for me, I'm
Speaker 7: kind of person I like to under issue from the
Speaker 7: from I think critically about an issue, then kind of
Speaker 7: under it from the roots. I think we we have
Speaker 7: a fundamental problem in Nigeria which is actually.
Speaker 3: Causing a big issue for us.
Speaker 7: Although it's a political issue and I know I don't
Speaker 7: know how we can go about it, but I believe
Speaker 7: that until we are able to sort out things like that,
Speaker 7: but I'm not able to get out of the quagma
Speaker 7: that we are. For example, our political system is actually
Speaker 7: well actually brought up these kind of issues that we're having,
Speaker 7: for example, like the further character issue that if you
Speaker 7: want to have an efficient system, it should not be
Speaker 7: having it's a problem.
Speaker 4: From the end of it.
Speaker 1: I can hear him, You can hear him. You can
Speaker 1: let me ask somebody else anana. Can you hear Can
Speaker 1: you hear bology? Just asking? Can you hear boog? Can
Speaker 1: anybody hear apology?
Speaker 3: That's okay?
Speaker 4: Can you hear me?
Speaker 8: Yes?
Speaker 1: If you go out and come back, and I guess
Speaker 1: it's just you. If you log out and come back,
Speaker 1: you shop to him. But you go ahead, okay.
Speaker 7: So, as I was saying, when you have a system
Speaker 7: there is not efficient, so it creates a kind of
Speaker 7: lied to symptoms that you are going to be dealing
Speaker 7: with and eventually the overall productivity will every day. So
Speaker 7: because we have a system that things that to solve
Speaker 7: a particular problem, you need to create another way of
Speaker 7: fixing it, which for example, is like you are trying
Speaker 7: to fix a problem and that you are. This feral
Speaker 7: character idea is a way we are trying to balance out. Okay,
Speaker 7: this region is not have doing so much. Let us
Speaker 7: try to package ourselves and spread this thing out well
Speaker 7: in an if you look, for example, I'll give you
Speaker 7: an example of a private company. If you have a
Speaker 7: private company, as a business owner, you're expecting maximum performance
Speaker 7: from all your departments. You're not thinking of using your
Speaker 7: human resources to cover up the inefficiency of the production department.
Speaker 7: That's why we have issues that we have to Okay,
Speaker 7: look at so we need to design this.
Speaker 3: We need to look at the program and naginia from
Speaker 3: the root.
Speaker 7: This fair character issue is what is causing lop sided
Speaker 7: appointment here and there, and it's not bringing unit and whenever.
Speaker 3: Wherever you don't have unity, you're not.
Speaker 1: Going to make appropriate Yeah, but specific to specific to
Speaker 1: projects when I'm talking about it, maybe the employment like
Speaker 1: is it okay. Is it okay for the president to
Speaker 1: spend moneys five? Look at again, look at this point
Speaker 1: the Ministry of Aviation's budget. If you add that to
Speaker 1: the Ministry of Transportations budget, it is not up to
Speaker 1: what the president is spending on just one airport. The
Speaker 1: justification for the president that listen this is this is
Speaker 1: the Marquee Airport is the number one airport in terms
Speaker 1: of flight coming in, flight going out, import comedy imports
Speaker 1: going out, so we should invest that amount and that
Speaker 1: they are also going to be investment in other airports.
Speaker 1: So the question to you is that is are we
Speaker 1: okay spending seven hundred and twelve billion more than the
Speaker 1: budget of visional transport or one airport or should they
Speaker 1: be spread? I mean, okay, if you do it's spread,
Speaker 1: it won't spend seven hundred and twenty one airport. That's
Speaker 1: where I'm going to get you on.
Speaker 7: So I don't believe we should spend all that kind
Speaker 7: of amounts on a single airport. Because when I saw
Speaker 7: the news of spending that kind of amount on the
Speaker 7: event and somebody mentioned and newly built in the country
Speaker 7: in Asia, I think Techo International.
Speaker 4: Airport and.
Speaker 1: In Cambodia.
Speaker 4: Yeah.
Speaker 7: Yeah, the overall courset was really really I don't know,
Speaker 7: I'm more volume Diepo Airport is doing correctly. But like
Speaker 7: he rightly said, resources should be should be kind of issue.
Speaker 7: It should be spread around so that there could be
Speaker 7: every every part of the country would be able to
Speaker 7: grow organically instead of focusing.
Speaker 3: On one part of the country. And this brings me
Speaker 3: b back to.
Speaker 7: The initial point I made about the kind of policecar
Speaker 7: system we have in Nigeria and what it's always When.
Speaker 3: Warri was in government, Warri was like it.
Speaker 7: Looks to a part of the country like Okay, Barr
Speaker 7: is doing things for himself and it's people.
Speaker 3: He's doing it for the northern people.
Speaker 7: We've had we had this system Nigeria has been in
Speaker 7: existence from nineteen sixty. If we look at whether the
Speaker 7: democratic government or military government, it has always been like Okay,
Speaker 7: whoever is in position would focus on one area.
Speaker 3: For example, the military guys, they.
Speaker 7: Located the most of the prastructor of the country.
Speaker 3: In the north.
Speaker 7: I'm talking about the defense and the security in prastructors.
Speaker 3: Now it's as a is in government, the same thing
Speaker 3: is happening.
Speaker 7: It's focusing on one region, may not one region, but
Speaker 7: it's always been on our region. So it's like you said,
Speaker 7: it's not supposed to be, and I agree with you
Speaker 7: that it is not supposed to be, but we're saying
Speaker 7: that it's not supposed to be. I don't believe it's
Speaker 7: going to sort anything, because the fundamental issue.
Speaker 3: Is always going to be there.
Speaker 7: I believe that if we have any body from any
Speaker 7: part of the country again now that part that that
Speaker 7: person likely, even if that person doesn't want to do it,
Speaker 7: the people suppose surrounding him will probably give him.
Speaker 1: That idea that that's that's a good point to your bridge,
Speaker 1: that the next guy that is going to come to night,
Speaker 1: he will simply pass a budject of ten Nira and
Speaker 1: then put the whole budjet in the fund that he
Speaker 1: would control.
Speaker 7: Yeah, it looks like a pattern now, and he's generating
Speaker 7: a lot of distrust around us.
Speaker 3: And like a.
Speaker 7: Speaker that suppoke before me, he said that, okay, he
Speaker 7: mentioned one line of thoughts, and I don't want to
Speaker 7: I don't know if he could be right or wrong,
Speaker 7: but he said that, Okay, we don't even know what
Speaker 7: these guys are planning. Maybe they're planning to get out
Speaker 7: of Nigeria.
Speaker 4: That's why they're doing all these things.
Speaker 7: You see, he's already generating a kind of distrust in
Speaker 7: the entire federation.
Speaker 4: His question is.
Speaker 7: Right, it's actually right to ask that kind of question.
Speaker 7: But now imagine somebody from another origional gets into power.
Speaker 7: That would be even if in his mind he doesn't
Speaker 7: want to do that kind of thing, that would be
Speaker 7: the suggestion that would be presented to him and advice
Speaker 7: that would be given to him.
Speaker 3: That's what he will be thinking. Okay, let me into this,
Speaker 3: my people.
Speaker 1: I appreciate that. Yeah, I mean, I mean that's the
Speaker 1: point again, you know, the pastest precedent, you know, like
Speaker 1: when Harry did started this, and now it's been super charged.
Speaker 1: Who knows what the other guy will do whatever, I
Speaker 1: will stop it, or I will also supercharge it and
Speaker 1: create it. It is on the phone to go more this.
Speaker 1: Let me go back to you. Have you fixed that audio?
Speaker 1: Let's have you go ahead? Can yes? I can swer
Speaker 1: go ahead?
Speaker 3: So I agree with everyone. My name is Michael.
Speaker 9: And so he got a new topic and I'm talking.
Speaker 3: About it as such a spending a character. So I
Speaker 3: won't say there's there's.
Speaker 10: Bias, there's answer bias like the most investments going to
Speaker 10: the sad waste with John and both considering what I've
Speaker 10: read online because normally follow news on two dates.
Speaker 9: On the loan the Presidency get from I don't really
Speaker 9: get it loan from, but I think from.
Speaker 3: Different banks, from all banks and things. So and I
Speaker 3: think the START was able to get three billions for
Speaker 3: the RIVERA.
Speaker 9: I don't know if that is true, but I saw
Speaker 9: something like that and I saw whether I was just
Speaker 9: following the they really wanted to spend the money. But
Speaker 9: is more of the money was concentrated in the START
Speaker 9: West region.
Speaker 1: Yeah, it's it's a lot of bits of the only
Speaker 1: only give you what I do want. I did my
Speaker 1: research on the Renewed Hope in first Structured Development Fund
Speaker 1: about five projects here the Legos Airport seven hundred and
Speaker 1: twelve billion. They are doing other airport, but what they
Speaker 1: have and now that they want to do seven hundred
Speaker 1: and that has been approved by the Projective Council. That
Speaker 1: the Legals to Calorber Coastal Highway again south southwest. This
Speaker 1: go to the Badagar Expressway again southwest, the Legos to
Speaker 1: Cano Railway and of course the Eastern railway. That's what
Speaker 1: I'm referring to. So it's gonna be the Eastern railway.
Speaker 1: There's gonna be Legos to Conter railway. So it's a
Speaker 1: does my ma characters about seventy to thirty and the
Speaker 1: seventies not southwest. It's Legos again. If you add, if
Speaker 1: you add the two billions, there's a two billion that
Speaker 1: is going to go to the light railing Legos. So
Speaker 1: there's two billion. Yeah, this is dollars, not naira. Two
Speaker 1: billion dollars about three point two trillion for the Legos
Speaker 1: light trail. I assume Legos light trail was funded by
Speaker 1: the Legos government all this while. But then I'm going
Speaker 1: to get a bailout from the federal government for I
Speaker 1: mean they should because that rail. Of course, again it
Speaker 1: improves productivity in Legos. Legos is a commercial capital of Nigeria,
Speaker 1: so I get the economic side of it. I'm not
Speaker 1: against it. I am saying do the same in other regions.
Speaker 1: The same place you got two billion for Legos to
Speaker 1: light trail, you can also get the same one billion
Speaker 1: for a light really important court or you completed light
Speaker 1: trail in that's my point. I'm not for cancel this one.
Speaker 1: I'm saying if we can get the money to do
Speaker 1: all this in one state, then we have the money
Speaker 1: to do it in other states. So I did you
Speaker 1: know that's the data I have?
Speaker 10: Yeah, okay, okay, I get makes sense for you. It
Speaker 10: makes sense absolutely, all right. Let's and one wanting and
Speaker 10: because the pots and the deepsy pots. Yeah, but I'm
Speaker 10: thinking that in states can also and collectively and maybe
Speaker 10: regions and politically and then maybe the further government can.
Speaker 11: Like push it.
Speaker 3: Maybe when the state government and the governments maybe of.
Speaker 10: The particular region putdance together.
Speaker 3: You fail, the government can look into it and push them.
Speaker 1: You are correct, You're very correct. The Legos Deep Sea
Speaker 1: Port is a private sector port by private sector guys
Speaker 1: in the rama. The guys that do the windles and
Speaker 1: all that, they are ones that didn't own that port,
Speaker 1: but the partnered with Lego States, so Lego City has
Speaker 1: twenty percent equiting that port. But it's a private sector port.
Speaker 1: Then of course, because Nigerian government is the one all
Speaker 1: middle that owns ports, NP is also there, so it's
Speaker 1: an federal state and private sector. Aquir Bomb is also
Speaker 1: doing a deep sea port an Aquibum has the money
Speaker 1: to build that deep seaport. So you wonder how Aquibum
Speaker 1: has not been able to fast track their own deep sepport.
Speaker 1: You can't blame Legos. You know, they may to fast
Speaker 1: track their port before and we became president and build it.
Speaker 1: So these states that have natural I think it's at
Speaker 1: a back or so deep sea port. It's a natural harbor.
Speaker 1: They have the money obviously, so you want to ask
Speaker 1: why they are not, you know, focusing on getting that
Speaker 1: deep sea pot off the ground. Idegity, But good point there.
Speaker 1: Let me get on, Nana. I do thank you so much, Ananda,
Speaker 1: You've got the fanah I can hear.
Speaker 4: Yes, I'm doing everyone on. This has been a very
Speaker 4: one of the space. I love how you do everything.
Speaker 3: I want to say.
Speaker 4: It's just that.
Speaker 3: There is this thing.
Speaker 1: You gotta fix your audio. You gotta fix your audio.
Speaker 1: And I think that order to come back to me
Speaker 1: with your hands up right, let's do checker checker checker
Speaker 1: facts go ahead, and when you fix I would just
Speaker 1: give me your hands about you back checker go ahead.
Speaker 4: Yeah.
Speaker 12: You know my Drea for ships me sometimes and sometimes
Speaker 12: I'm thinking, is this by design? Is this geopolitical actors
Speaker 12: at play, because.
Speaker 13: Why in the hell are we spending money on refurbishing
Speaker 13: a damn airport when we don't have power. I don't
Speaker 13: care about anything else in this country. I don't know
Speaker 13: why everyone gaslights us and makes this thingm like us, Nigerians,
Speaker 13: we don't have a brain. If we want to be
Speaker 13: an industrialized first world nation, we need power.
Speaker 3: We don't need generators.
Speaker 4: We can blame state governments.
Speaker 3: We can do whatever we.
Speaker 12: Want to do, but we need help with distribution, we
Speaker 12: need help with transmission. It's almost as if we've given
Speaker 12: up on the power sector. It's weird, like we need
Speaker 12: roads and power.
Speaker 13: If I'm president, I will not do anything outside of
Speaker 13: power and roads. Not an airport, not an auditorium, not
Speaker 13: creating a presidential library, not nothing else, mattas in Nigeria,
Speaker 13: outside of creating power.
Speaker 12: And I have to just think to myself, is there's
Speaker 12: some kind of conspiracy going on? Because the same five
Speaker 12: thousand Maygols.
Speaker 4: We've been dragon since I with porn.
Speaker 3: It's what we're dealing with in.
Speaker 12: Twenty twenty five, and I guess nobody talks about it.
Speaker 12: We just talked about GMOs, talk about all this other nonsense.
Speaker 12: But we don't have lights and we have two hundred
Speaker 12: plus million people, you know, so I.
Speaker 4: Don't know what has to happen.
Speaker 13: I don't know why we are not allowed to generate
Speaker 13: more power and distribute more power than what we have now.
Speaker 13: I don't know why no state governments.
Speaker 12: It almost feels like whenever it's in the Blue transferred.
Speaker 4: The right to generate power to the states.
Speaker 13: It's almost as if he was gas lighting guests and saying,
Speaker 13: we're actually never going to try to fix power. Ever,
Speaker 13: I don't hear any update on this Semen's thing that's
Speaker 13: taking decades upon decades to complete. I don't see or
Speaker 13: hear about any improvement on the power sector. That's the
Speaker 13: only infrastructure that matters. Everything else matters the multiples, the
Speaker 13: economics multiples that can be derived from improving our power generation.
Speaker 13: It's obvious that our whole brain capacity, in our whole
Speaker 13: infrastructure budgets should be focused on generating power because that
Speaker 13: has the greatest multiples to grow our economy.
Speaker 1: The combat is going to be that we can chew
Speaker 1: them and walk at the same time. We can do power.
Speaker 4: We can't.
Speaker 13: We can't treat what we cannot. We can't treat governmental
Speaker 13: Sorry to job space. Sorry, I'm a little passionate. We
Speaker 13: we haven't proven that we can't do that. Let's start
Speaker 13: by chewing gum. We struggle, we're to go. We start
Speaker 13: bleeding with christ Sometimes we check and then sometimes we
Speaker 13: try to check them and walk over ourselves.
Speaker 4: Basic things we can't do. If I forget to go,
Speaker 4: can we just walk?
Speaker 3: I hear you you're talking about riding your bike? Which
Speaker 3: ba can we go?
Speaker 4: Which?
Speaker 13: Hey, it's frustrating how many manufactions have closed the Nigeria
Speaker 13: this year alone.
Speaker 1: Yeah, I mean, but again, let me come out to
Speaker 1: you with fact again. Like I read a report last
Speaker 1: week again to goo they deport next to us is
Speaker 1: now where cargo is diverting into Togo from America, from
Speaker 1: Russia and Nigera become the infrastructure decay in Nigeria. So
Speaker 1: this these investments are to prop up the logistics based
Speaker 1: in Nigeria. If we if we don't do it and
Speaker 1: we wait to fix power first, and everything's gonna go,
Speaker 1: so we will we can import our own stuff forget
Speaker 1: for us. Even were Nigeria are wanting podcasts or whatever,
Speaker 1: are gonna pay more for the bad infrastructure. So I
Speaker 1: hear you. We can walk and trigg them at the
Speaker 1: same time, but there has to be some investments done
Speaker 1: to at least, you know, sort of properly. What's your
Speaker 1: You're still don't agree.
Speaker 12: Why are we going to Why are we going to
Speaker 12: Togo when we just did a deep seaport and lakers
Speaker 12: and a laky deep seapport.
Speaker 13: Someone's gas lighting as niger Someone is just someone has
Speaker 13: missed with our intelligence.
Speaker 1: Not going to candel The Furias are going to to Goo.
Speaker 1: That's not the Nigeria. The Forias are going to to
Speaker 1: go to offloading to go and then to ship it
Speaker 1: into Nigeria than coming.
Speaker 12: To They're going to Togo instead of coming to Nigeria
Speaker 12: when we have a new deep seaport.
Speaker 1: Because the fastest in Togo are better and it's cheaper
Speaker 1: in Togo than Nigeria.
Speaker 4: It's better built. Just builty, We're just built it.
Speaker 1: That's what I didn't say, So I'm quoting.
Speaker 3: What you know.
Speaker 4: I know that's what you're quote to what they say.
Speaker 3: But I'm just like.
Speaker 1: Something that's let me bring in, let me bring in regenerated.
Speaker 1: You were saying, that's not it. Why are they going
Speaker 1: to to Goo.
Speaker 4: Sorry for interducing so so so, Nigeria doesn't.
Speaker 14: Have a box stations and every big that comes to
Speaker 14: Nigeria have to go on the feeling to go.
Speaker 4: That's what?
Speaker 6: What?
Speaker 3: What? What?
Speaker 4: What?
Speaker 1: What's book? What's that?
Speaker 14: What kind of We don't have a bunker station, a
Speaker 14: bunker station where we can failed.
Speaker 3: We don't refill our ship in Nigeria. That's the males.
Speaker 1: I don't know, I don't think. So are you saying
Speaker 1: that Togo has Now you said that Togo has something
Speaker 1: called bunkering in that Togo port.
Speaker 3: That has absolutely what is that bunk There is nowhere.
Speaker 1: In the where you can fail refeel what.
Speaker 3: We fill the diesel.
Speaker 4: But to the big, to the big versil that comes
Speaker 4: to Nigeria.
Speaker 1: Togo has diesel to refill. I'm sorry, I'm not I'm
Speaker 1: trying to learn. So you said Togo has Togo can
Speaker 1: bunker the vessels are their port, but Nigeria cannot.
Speaker 4: Okay, exact you can find you can find that house.
Speaker 1: I will do some research. I don't know, but what
Speaker 1: I know is Togo has been building this port specifically
Speaker 1: for the Nigerian market and the tonnage that they offer
Speaker 1: is more than Nigerian tonnage. They have more of these
Speaker 1: overhead cranes than the Nigerian cranes. So apart from the
Speaker 1: bank creen you're talking about, they've built a port to
Speaker 1: take advantage of the inefficiencies in Nigerian port Togo. That's
Speaker 1: what they've done, and the Russians have signed a deep
Speaker 1: agreement with them. The Americans are also going there, so
Speaker 1: I don't think it's just because they can bonker. I mean,
Speaker 1: the deep sport is different from the Togo port. It's
Speaker 1: on the sea show. The deep support is on the
Speaker 1: high sea. This is the port in Togo and they
Speaker 1: are saying that they preferred to go there. Some put
Speaker 1: the report out I think it was who put the
Speaker 1: report out on Twitter that said if you go to
Speaker 1: Ghana you pay fifteen thousand dollars for your ship, but
Speaker 1: niger is a one hundred and fifty thousand ERA per
Speaker 1: ship to offload. We totally this week, So why would
Speaker 1: anyone come to Nigeria and pay one hundred FO nine
Speaker 1: when you can go to Ghana or fload and they
Speaker 1: just highre nine one one truck and move to Nigeria
Speaker 1: under the African Content Free trade agreement, so we're also expensive.
Speaker 1: Same thing with our airport. If you're landing in our airport,
Speaker 1: you pay more for landing tries than if you're land
Speaker 1: in say Ghana, Bene or Togo and all that. So
Speaker 1: it seems like we're pricing ourselves out of the markets region.
Speaker 1: Do you have any any take on that or you
Speaker 1: think it's just the epoch and we're not just prising
Speaker 1: ourselves out as well?
Speaker 3: Is it higher demand means the price will go up? No?
Speaker 1: No, no, no, They're obviously doing more capacity than us.
Speaker 1: Togo is doing more capacity than Legos, but they are
Speaker 1: charging lower samething with Ghana, they are charging lower than
Speaker 1: Nigeria Air and Sea.
Speaker 3: Yes, I think that's exactly the reason.
Speaker 1: Yeah, all right, so let's let's just move on. When
Speaker 1: I do thank you? So wait, he did drop jarity.
Speaker 1: What was your Did you want to have a comment
Speaker 1: a pert from you? I know you came up, but
Speaker 1: do you have a comment to make?
Speaker 3: Yes, I want to have another new way of the reasoning.
Speaker 3: And I think it's might look so.
Speaker 14: Untrue because happened that I've seen, So this is kind
Speaker 14: of I'm in the great I'm in the blue economy.
Speaker 4: Space right.
Speaker 14: I work closely with the founder of the Blue economy
Speaker 14: in the world, professor Bulta Poling, And one of the
Speaker 14: opportunities we should be looking at right away now is
Speaker 14: I know they are trying to revive the Ajacuta for
Speaker 14: steal production now, but I don't know at what points
Speaker 14: we can quickly forget about it if sid initiated and
Speaker 14: focus on building our own shipping industry, which I think
Speaker 14: that's one of the core areas of the blue economy.
Speaker 3: But people we argued as we are.
Speaker 14: Not compete with advantage in terms of ship building and
Speaker 14: and you are compared to developed country.
Speaker 3: But there is a new.
Speaker 14: Thinking globally in IMO focusing on the carbonation of the
Speaker 14: shipping industry. And you're focusing on the inland and interstate
Speaker 14: with more of regional ship not the bigger vessel at
Speaker 14: the moment, So how do we the carbalizers. We are
Speaker 14: not focusing on the battery or litheon or whatever shape,
Speaker 14: but using hydrogen, which I think we have comparted the
Speaker 14: advantage of most of our ten thousand kilometers away we haven't.
Speaker 4: We have a carbon issue.
Speaker 3: To carbon editions.
Speaker 4: These people are trying community.
Speaker 1: People, but I say how much do we let him him,
Speaker 1: let him come in here.
Speaker 3: We are coming there, I'm coming there.
Speaker 14: So basically, when you look at the opportunity of the hydrogen,
Speaker 14: if my looks is when I started a submission, it
Speaker 14: might look like that. Oh it's looks on true right
Speaker 14: or nonreil, but it's the reality of countries moving into that.
Speaker 3: We'll talk about the climating.
Speaker 14: But let's talk about the opportunities that we have here
Speaker 14: and focusing on Nigeria in terms of what do we
Speaker 14: need to do next. So imagine us unlocking our inland
Speaker 14: water transportations. He talks about carrying nine one from to
Speaker 14: Go past to whatever you want.
Speaker 3: To pass through because of obitraation.
Speaker 4: But I can tell you.
Speaker 14: From to Go to Legos it's lesser than one hour
Speaker 14: tective minutes by water.
Speaker 3: So how do we look into that? From Legos to
Speaker 3: Undo it's lesser than two.
Speaker 4: Hours on top of water.
Speaker 3: So how do we unlock all those opportunities?
Speaker 4: Right?
Speaker 3: Forget about the dredging. There are low draft vessels that.
Speaker 14: Can carry passengers and goes of one point four drafts
Speaker 14: right away that people have been started building. So if
Speaker 14: you focus on reviving the Jacuta I'm focusing on making
Speaker 14: more carbon fiber, which might we have most of nitive
Speaker 14: present of the resources of making carbon fiber, which makes
Speaker 14: it more comporied advantage.
Speaker 3: We can along the inland.
Speaker 14: And start picking goods from the bigger vessel and distributes
Speaker 14: and what that's gonna happen.
Speaker 3: You're going to have.
Speaker 14: More opportunity coming in some inland ports and we are
Speaker 14: going to have more jetties. When you have more jetties
Speaker 14: and you focused on the hydrogen, you have new energies
Speaker 14: that you're talking about infrastructure. JERMANEY is developing five mega out.
Speaker 3: Of hydrogen for different countries. There's nothing stopping us from.
Speaker 14: Having a concertion of partnership with GERMANEY. Look at Decidergy
Speaker 14: place in the Niger data that have more of a
Speaker 14: seawater and you put your hydrogen five megawat there and
Speaker 14: you can produce shiplates with your own national ship whatever
Speaker 14: or people can come and invest in that kind of industry.
Speaker 4: That is the other way to go.
Speaker 14: But makely that is from the other perspective of we
Speaker 14: want to start working on.
Speaker 3: Deep c in all this area.
Speaker 14: It's not a completely advantage for bigger versus comsse.
Speaker 1: I think there's a great point there. You're basically saying, listen,
Speaker 1: it's sead of us chasing the deep sea that is
Speaker 1: capital intensive, big, big, big, We can do more of
Speaker 1: the inland bardges. We're saying, we're having German just sort
Speaker 1: of where we get those bardges, move the continents into
Speaker 1: going into worldy, into a nature on those bardges where
Speaker 1: we will develop more inland ports than focusing on taking
Speaker 1: a billion dollars to do a deep sea port or
Speaker 1: taking one hundred million dollars to do twenty inland port.
Speaker 1: I think it's a great idea you bring up and
Speaker 1: again so I think I like that. Thanks for that suggestion. Also,
Speaker 1: I did look up the Togo bunkering and you're right.
Speaker 1: It says in Togo they are able to refuel these
Speaker 1: big ships at sea. Togo can do that. Nigeria cannot.
Speaker 1: Nigeria is amazing. So while we why are we the
Speaker 1: giant of anything? If Togo is able to refuel ships
Speaker 1: at sea, so Nigerian ships go to Togo to get refueled,
Speaker 1: we don't have it. I'm amazed. And Nigera is walking
Speaker 1: to become a hob. So we're trying to set up
Speaker 1: our own m app R, which is Marine Petrol on
Speaker 1: product retailer opperationis why don't we have this? We have
Speaker 1: crude oil, we have an NPC. Why don't we have
Speaker 1: this bunkering? Why is to go with no crude oil
Speaker 1: having bunkering.
Speaker 3: And we don't.
Speaker 1: Do you have any idea regerative?
Speaker 3: Why? Frankly speaking, I don't think I have much idea.
Speaker 4: I just believe that it's.
Speaker 14: At of coruptions right, we can do it, not just
Speaker 14: intentional in terms of having additionality people.
Speaker 1: From nineteen from nineteen sixty till to date. Absolutely we
Speaker 1: can't have a bunkering thingy and Togo has it, to go,
Speaker 1: next door has it, We don't have it. It doesn't
Speaker 1: it doesn't strike anyone as weird. I mean, just google it,
Speaker 1: just put I'll share it. Let me share it on
Speaker 1: on Twite, on Twitter. I mean, it doesn't make any
Speaker 1: sense to me. Maybe I need to do more work
Speaker 1: on this. But why would they have it and we
Speaker 1: don't have it and they don't even have crude oil?
Speaker 1: Makes no sense?
Speaker 3: But yeah, I think I have an idea.
Speaker 1: Why share? Please?
Speaker 6: I think it's in terms of priority, if very if
Speaker 6: you visited to go. There's something special about to go.
Speaker 4: I just have to go sometimes.
Speaker 6: Last year, if you visit, you discovered that in Togo
Speaker 6: most of the roads, these roads are tired. Most of
Speaker 6: the rules are tacked. The major rules are tacked, but
Speaker 6: the street roots are not tired. Anyone who took tests
Speaker 6: to what I'm saying. The major rules are tired, but
Speaker 6: all the truth in Lomit, the capital to are not tired.
Speaker 6: Telling you that this will put priority above every other
Speaker 6: Nike Nigeria.
Speaker 1: Interesting, I mean, it's interesting. It's interesting though. Yeah, I'm
Speaker 1: just thinkings at that.
Speaker 6: If you go to the hospital, I was opportunity to
Speaker 6: use all of the their public health care. I discovered
Speaker 6: that if the finally, if we get there, everything you
Speaker 6: see there are basic things from furnitures, the furnitures we
Speaker 6: use back then in the eighties in Nigeria, those booting furnitures,
Speaker 6: that is what doctors use, or the service at the
Speaker 6: services you get there. You can't compare Tony. I think
Speaker 6: it can compare with at least obviously we'll find you
Speaker 6: in the world. So this will put they put parity
Speaker 6: above every other thing. And that is the problem we
Speaker 6: have in Nigeria. The question we should ask ourselves. Do
Speaker 6: we want to be an industrialized nation or we just
Speaker 6: want to plead to the glory because we want to
Speaker 6: be an industrialization.
Speaker 3: There are things we need to address. There are basic
Speaker 3: things we need to address.
Speaker 6: The way we spend for infrastructure and the way we
Speaker 6: go about it's not the.
Speaker 3: Way we should go about it.
Speaker 6: It doesn't matter with the president because if you look
Speaker 6: at in twenty fourteen when good Luck was the president,
Speaker 6: most of the key infrastructure he invested in they are
Speaker 6: not driven by economic modules and where it came repeated
Speaker 6: the same thing and he's doing the same thing.
Speaker 4: For those those who know the train.
Speaker 6: That connects Abuja to card that projects it was funded
Speaker 6: by a loan. But if you look at it the
Speaker 6: economy that thing brings to Nigeria, it's little or nothing,
Speaker 6: the dital or nothing. If we really want to if
Speaker 6: you really want to do it, trade, we should do train, run, trail,
Speaker 6: lies to wear they really matter.
Speaker 3: You had, they will they will have the GDP.
Speaker 6: If we want to build airports, the airports who have
Speaker 6: ruled are enough because I remember when I used even
Speaker 6: the same airport in Lomait. If you visit that airport
Speaker 6: in Lomba. I think the efport you compared to Nigeria
Speaker 6: with baby anybody has used that of a pible.
Speaker 3: You can compare what you have in mail with what
Speaker 3: you have in it.
Speaker 6: Fortunately, even the same seaports they have in Lomo.
Speaker 3: Nigeria's will have a priority.
Speaker 4: Problay.
Speaker 6: Our leaders don't invest in key things that has simulate
Speaker 6: the economy with true money. But true money a way
Speaker 6: we had the spending pro blayer.
Speaker 1: I mean, I hear you. I mean if you look
Speaker 1: at the reels, I always tell you that the reels
Speaker 1: you see today were built by the British. The rail
Speaker 1: lines today you see today from Legos to karen Amda,
Speaker 1: Canoe Kapanchan, then Middle Gray back to Emo then back
Speaker 1: to Port. But we're built by the British. Nigeria has
Speaker 1: built the Canoe sorry to Carnal standard gauge, and then
Speaker 1: we build the Attack to a Worry standard gauge and
Speaker 1: the Legos to a bad On standard gauge. The Attack,
Speaker 1: by to your Warrior standard gage is a bridge or
Speaker 1: a reel to nowhere is not. It doesn't connect to
Speaker 1: any real network in Nigeria. It's just in the middle
Speaker 1: of Nigeria doing nothing because it wasn't supposed to be
Speaker 1: a commercial really, but like you said, we we did
Speaker 1: it because of politics. We wanted to score a wain,
Speaker 1: so we developed that railway, ignored the other one, and
Speaker 1: here we are. But I see find it strange just
Speaker 1: to go back to this Togo thing that n NPC.
Speaker 1: We have shell, we have eggs on, we have the
Speaker 1: port in Legos. We're the largest economy in Africa. We
Speaker 1: didn't have this bonkering thing. I mean, I just shared
Speaker 1: what I saw on social Maybe somebody will have a
Speaker 1: better explanation. But on social media, I just asked grow
Speaker 1: it's a compliment. We don't have it, I put on Twitter.
Speaker 1: So if we don't have, what are we doing with
Speaker 1: the money? Is said, there's no planning. We don't know
Speaker 1: that ships need fuel to go out. I'm not not
Speaker 1: an expert here, but I'm just it's strange to me
Speaker 1: that small Togo can think outside the box and we
Speaker 1: don't with n NPC and the rest. It's strange to me.
Speaker 1: Modest too, How are you doing, sir? Yeah? What's he
Speaker 1: about it?
Speaker 15: Yes, I've been listening from the beginning. I think on
Speaker 15: that particle, I issued. I will go a little bit
Speaker 15: more controversial. It's about the JV agreement we have. Sometimes
Speaker 15: when you have this sut of agreements, you know, in
Speaker 15: chype of your obstreme sector, those who have priorities, they
Speaker 15: shift the authorities where.
Speaker 4: They want and you don't have anything.
Speaker 3: I mean.
Speaker 15: Just the career around for example, all the things that
Speaker 15: they put into refining, grilling, every equipment, every missionary. It's
Speaker 15: made in their country from beginning to end, top to bottom.
Speaker 15: You know, they even do more advanced off in the
Speaker 15: oil industry because they are in charge. But if you
Speaker 15: have to pay somebody to bring that your oil, I mean,
Speaker 15: it's so funny. Sometimes we haven't even I don't think
Speaker 15: I want National Assembly has.
Speaker 4: Even talked about it even for one day.
Speaker 3: That's you.
Speaker 15: It's that, um, you have a good in your fam
Speaker 15: and then somebody come and tell you, oh, no, I
Speaker 15: know you have a good in die your family.
Speaker 3: Don't worry.
Speaker 15: I will help you bring it out and then I
Speaker 15: will refine it and then we can share because and
Speaker 15: then the person will layer all the expenses on bringing
Speaker 15: it out and saling it for you, and then at
Speaker 15: the end it tells you, oh, we made only one
Speaker 15: thousand and we share its sixty forty. That's where we are,
Speaker 15: you know, it's so painful, but that's where we are,
Speaker 15: and we have been on that journey for the past
Speaker 15: seventy years. It doesn't make any sense at all, but
Speaker 15: that's where we are. And sometimes we ask for magics,
Speaker 15: you know, we ask for theatrics, and then we look
Speaker 15: at we can't even link our energy policy into one policy.
Speaker 15: All these things we're talking about is supposed to be
Speaker 15: one policy, one energy policy.
Speaker 3: That's what it is. But we can't do that. And
Speaker 3: it's the total peopleeople know that they rely on Nigeria.
Speaker 15: They don't have any market, they know, and then they
Speaker 15: look for loophos into our system and then they plug
Speaker 15: into it so that they can sustain themselves as a country,
Speaker 15: as a viable country.
Speaker 3: When you say America said we want to we want
Speaker 3: to batter our ship in Togu, what does it tell you?
Speaker 15: And the problem is that there our people are sitting
Speaker 15: down there and there shouting on our mandate, which are
Speaker 15: stand nobody none of them is thinking about that humiliation,
Speaker 15: that accumulation that somebody tells you, you know that I'm
Speaker 15: going to go to little Togu because you cannot do this.
Speaker 1: I mean, it isn't broken just putting fuel in the ship.
Speaker 1: I mean it's a big world, but it's just putting
Speaker 1: the ship.
Speaker 15: It doesn't even I'm looking at the symbolism and the principles.
Speaker 3: It's not even the issue of that is you know,
Speaker 3: you can't even bring.
Speaker 15: Yourself to understand it that that is what it is,
Speaker 15: that little Tobo can hold a national security issue against
Speaker 15: us because it makes no perfect sense. It makes no
Speaker 15: sense at that even if we need to import some
Speaker 15: ammunitions or anything, you need to go to Tobo Fest
Speaker 15: well before.
Speaker 3: It comes here.
Speaker 15: So it can link into almost all a spaces of
Speaker 15: financial existence. And the issue is that if not for
Speaker 15: this place now that people are looking at it and
Speaker 15: talking about it, you will never hear that in the
Speaker 15: national discuss the discourse we have all the time, these
Speaker 15: things we.
Speaker 4: Are people have left and we are scratching the battle.
Speaker 1: You know, let let me take you back to the
Speaker 1: topic of today, right. You know, I don't know if
Speaker 1: you've been phoned the news, how we're with love of announcements.
Speaker 1: It's not just the seven one two for Legos Airport.
Speaker 1: We've been having announcements for a long time. The ports
Speaker 1: in Legos have been renovated, the airport to be innovated,
Speaker 1: the roads are benovated. Everything seems to be happening in Legos.
Speaker 1: Even the Sea Bens had an issue with retiring workers
Speaker 1: hiring new workers out of their So there's a predominance
Speaker 1: of off. You see discussion that the administration today is
Speaker 1: tilted not just to the southwest, specifically to Legos at
Speaker 1: the detriment of the other region. What's your take on this?
Speaker 1: Is there a tilt? Should there be a tilt? What's
Speaker 1: your take?
Speaker 4: Yeah?
Speaker 15: My take is like the first orconspeaker did talk about
Speaker 15: the politicization of everything. We politicize economic problems and because
Speaker 15: whenever you add politics to it, it never gets solved.
Speaker 15: If the governor in river state understands the resources, the
Speaker 15: multiply effect of that airport and what it will do
Speaker 15: to the economy of the state and how it will
Speaker 15: have a multiply effect. The last time I checked the Chinese,
Speaker 15: they won't fishing our waters in around the cold bite
Speaker 15: of Befa. We don't have him have one fishing you know,
Speaker 15: you know that's how bad it is. Like somebody talked
Speaker 15: about the blue economy. Here we just do you know
Speaker 15: by the issues is that I don't think some people
Speaker 15: have said for me, I believe in new ideas. And
Speaker 15: let me go back to the issue of a federal character.
Speaker 15: The federal character then was put there by the founding,
Speaker 15: the initial people who looked at the constution of to say, well,
Speaker 15: how do we balance development across all regions. How do
Speaker 15: we enshrine a kind of finance so that people will
Speaker 15: feel the equity to be pat owners of their destiny,
Speaker 15: So that people across all religion and across our cities,
Speaker 15: we have that buy in into the national development.
Speaker 3: Because they realized that if that is not.
Speaker 15: Done, there will be this incentive because there will be
Speaker 15: gross inequity, and they're the gross probably the.
Speaker 4: This is what I'm looking for.
Speaker 3: The.
Speaker 15: The disparation between that disparities in terms of access to
Speaker 15: resources between all all the tribes will be skewed to
Speaker 15: the major tribes. So that was built in so that
Speaker 15: you reflect the states, each of these states, and madly
Speaker 15: because if you reflect each of these states, you reflect
Speaker 15: all the tribes. To make sure that people have a
Speaker 15: buying into that national development and the patism that we
Speaker 15: are looking for. But you can see that over the
Speaker 15: years if you come from the minorities, it's like you're
Speaker 15: being it not you don't have a voice. Until election
Speaker 15: time comes, somebody will say, oh, we need to go
Speaker 15: to Benry and then they come to one very big
Speaker 15: party event and they announced one thing and then that's
Speaker 15: all that they look for them and then they look
Speaker 15: into it like it's good that you're talking about this
Speaker 15: from the infrare toture point of view.
Speaker 3: If you go to it to the political point of view,
Speaker 3: everybody will be on.
Speaker 15: Their own because it is what brings national development, It
Speaker 15: is what bring national unity. It is what brings that
Speaker 15: issue that we are everybody we feel that they belong.
Speaker 15: But if it is killed like now they're not are
Speaker 15: using it against it, so we don't have this, we
Speaker 15: don't have that. And then it's trying up and down
Speaker 15: trying to have meetings with theirs, the one on yesterage
Speaker 15: on the punch that day, to get to their government,
Speaker 15: to the natural government is having the meetings with not
Speaker 15: a lawmakers both past and present, just to let them
Speaker 15: know that look, we are not ignoring you. The question
Speaker 15: is is he going to have the same meeting with
Speaker 15: people from the south side.
Speaker 3: No, is it going to have the same.
Speaker 15: Meeting with you from the not not central No, because
Speaker 15: the treat that they don't have any political weights.
Speaker 3: They don't. You don't need them.
Speaker 15: You know, it's the case of okay, who do we
Speaker 15: need to survive the next elections?
Speaker 1: You know, you know MORESSA admitted to it a long
Speaker 1: time agoing and I said that if you ever want
Speaker 1: any project, this, this is your year to get it.
Speaker 1: If you are in the north, you want any project today,
Speaker 1: you get it now. And it's because the man is
Speaker 1: the main thing that I think Present has gotten a
Speaker 1: bit wrong in my view, is that he is this
Speaker 1: politics in he made it too early. You know, bason't
Speaker 1: just first termes you go back to a Bason just
Speaker 1: first term. He didn't get a lot done in his
Speaker 1: first term because he was playing this. You know, he
Speaker 1: was put in there by the PDP in like ninety nine.
Speaker 1: He had his Minister of Finance was some geriatric guy.
Speaker 1: You know, nothingly what major was going on. He was
Speaker 1: just going along the ropes. His second term is when
Speaker 1: he caught fire, and you know he tried to, hey,
Speaker 1: let us get this thing, let us you know, let
Speaker 1: us you know, building, he's pasted all this pension reform
Speaker 1: GS and everything second term, and he realized he had
Speaker 1: no time by fot by his by his eight years,
Speaker 1: he wanted a third term. I hope it's not going
Speaker 1: to happen to president. But where he spent his one
Speaker 1: year allowing ministers that have no business being ministers to
Speaker 1: remain in office, and then he realizes in his fourth
Speaker 1: year or in his sixty year that listen, I need
Speaker 1: more time because it's almost like the man wants to work.
Speaker 1: He just has some ministers that are just doing not
Speaker 1: who's the mister of agriculture just doing nothing?
Speaker 16: You know?
Speaker 1: So in a way, so started fuse for the guy.
Speaker 1: But it's almost like there's too much politics in the
Speaker 1: too much politics in the Why now, why are we
Speaker 1: having all these things now? Every second tem Why are
Speaker 1: we inviting people to you know, it's almost like everything
Speaker 1: now with politics, why we're not focused on if we're
Speaker 1: only talking about infrastructure, it's even okay, but everything is
Speaker 1: just second you know, I don't know.
Speaker 3: Yeah that love, Yeah, let me.
Speaker 15: A random plow that you can about that you can have.
Speaker 15: I think the only thing I can say in it
Speaker 15: is largely people. Many people have I would probably let
Speaker 15: me orgin and during that that he's got the at
Speaker 15: of them. Here, we have a country to you have
Speaker 15: no other country. Our brother hare have laid out invision
Speaker 15: for something that maybe if you're here and you have
Speaker 15: the ear of any politician, just let it know that
Speaker 15: there is a blue economy.
Speaker 3: There is another way of doing stuff. I like to
Speaker 3: there is another way you can look at it.
Speaker 15: I prefer economic independence. And some people will say, oh,
Speaker 15: look when are people if you're listening to them, got
Speaker 15: on to TikTok or they talk about all these other countries.
Speaker 15: Indonesia has to arune seven something million people. A primary
Speaker 15: school teacher salary in Indonesia is a thousand, two hundred
Speaker 15: dollars in US dollars. That they have two hundred and
Speaker 15: several ort a million people. It's not that it cannot
Speaker 15: be done. We cannot pretend as if we are unique
Speaker 15: in this global space, that our problems are unique, that
Speaker 15: our solutions are not there. We can't even have them.
Speaker 15: We can have all these things we can. Just let's
Speaker 15: let's find out what people are doing. How did they
Speaker 15: do how did they do it? Do they have energy independence?
Speaker 15: How do we have our own energy independence?
Speaker 3: Do we have?
Speaker 4: Do they want an education from all their law ones
Speaker 4: or their young ones?
Speaker 3: How do we do that?
Speaker 4: We do that? We do this? Sad the elderly ones?
Speaker 4: Do they have pensions?
Speaker 3: How do they do it? Well?
Speaker 15: Copy That's not the wrong in copying policies, That's what
Speaker 15: countries do. But sometimes our own discourses like we are.
Speaker 3: On our own.
Speaker 15: Oh we were connected by the British everybody goes there.
Speaker 15: Or we have a wrong constitution. Everybody focus on that,
Speaker 15: or we have this, everybody focus on that. Nobody's acting themselves.
Speaker 15: How do these other people who have the same history
Speaker 15: with us, how do they move away from where they
Speaker 15: are to where they are now? I think we need
Speaker 15: to begin to look into that, and people should please
Speaker 15: if politic policy doesn't solve the economic problems.
Speaker 3: You know we are now in the world of AI.
Speaker 15: We're not even discussing how you displace jobs if we
Speaker 15: don't have electric, how we we have internet?
Speaker 14: How do we have AI?
Speaker 15: When these countries have moved farther away from us, then
Speaker 15: what will happen to our children? We are with their work?
Speaker 15: You know, people are going far away nobody's going to
Speaker 15: wait for us. So like your brother year I was
Speaker 15: SUPERSI a bad power. We need to make power cheap.
Speaker 15: We don't even need to say, oh, you are in
Speaker 15: band eight hundred thousand. We are in band bill two
Speaker 15: hundred thousand.
Speaker 4: We need to make it cheap.
Speaker 15: It needs to be affordable to the common man. The
Speaker 15: recharge card woman that's on the highway should be able
Speaker 15: to afford to having electricity based on her income. Can't
Speaker 15: you be theiastic but difful thing that the power is
Speaker 15: only for fully bland. They can have to the fire
Speaker 15: powerus and then those ones that are in my town
Speaker 15: nothing for them. Then we are not moving anywhere.
Speaker 1: Thank you appreciate that, I really do. I appreciate the
Speaker 1: comments also from gentlemen. I spoke about the report. I
Speaker 1: hope we can write little article and sense so we
Speaker 1: can share. Others can basically follow Lewis Show. How are
Speaker 1: you doing? Luis Show?
Speaker 17: Day?
Speaker 18: Yeah?
Speaker 1: Maybe what we're talking about, what about infrastructure, we're saying
Speaker 1: to be based in terms of federal character more than
Speaker 1: things have come up here? Is the present too? Overly
Speaker 1: titter to legers? Should he spread investment across Nigeria what's
Speaker 1: your takes.
Speaker 3: Yeah, thank you, Carlo.
Speaker 19: I think for me, if the question actually our pin
Speaker 19: points of federal character, I think it's actually important to
Speaker 19: go to go in line with that. And however, I
Speaker 19: would like to digress a bit for me from my end,
Speaker 19: I think there's a deliberate sabotage on infrastructure generally in
Speaker 19: for instance, we seem to like allow our infrastructure to
Speaker 19: decay just so we can actually I mean allocate money
Speaker 19: to rebuild.
Speaker 3: And I would give an example to back up that.
Speaker 4: Have you recently used.
Speaker 16: Our those speech to the in England which is has
Speaker 16: actually been built over one hundred years ago, And in
Speaker 16: this speitchure you come from the physical structure of your
Speaker 16: speitch you can't tell the buildings have been standing for
Speaker 16: fur hundred years.
Speaker 3: You can't tell.
Speaker 16: So and just to take us back to the send
Speaker 16: pictures from the marital more made. There's some parts are
Speaker 16: in the airport.
Speaker 11: Which is actually which are actually dilapidated, which actually we're
Speaker 11: actually maintained. We wouldn't have needed there are more to
Speaker 11: actually spend the Semoni and Trent semonial and fiftillion on
Speaker 11: such a projects. And see the amount is actually the
Speaker 11: same amount that are over ten companies in in the
Speaker 11: n g X actually does if I love about overtime
Speaker 11: companies in the n g X and that is actually
Speaker 11: what we actually intend to spend on one airport and
Speaker 11: which is actually so bad to me. Then lastly we
Speaker 11: actually governors are wasting money on necessary flyovers or soon
Speaker 11: State for example, when motion complete its ongoing flyovers also
Speaker 11: is actually going to have more flyovers than Manchester and
Speaker 11: nothing I'm combined, and this is actually not this is
Speaker 11: actually not to build a serious.
Speaker 3: Economy, to be very honest.
Speaker 1: So the maybe they're building for the future, you know,
Speaker 1: like when Legos had flyervers there was no trafficing Legos.
Speaker 1: Maybe they're saying in the future would.
Speaker 4: Be the heallow, heallow, Just for the airport thing.
Speaker 15: I once stood in my time amid airport and counted
Speaker 15: how many airlines that touch down there. I mean you
Speaker 15: can count them with your two fingers for twelve hour period.
Speaker 15: You know, you know I'm not making it up. You
Speaker 15: can't count it.
Speaker 3: It's not even you begin to ask yourself what.
Speaker 15: Metrics is somebody using, what level of business goes in there?
Speaker 4: Just be building it for esthetics? How many airlines.
Speaker 15: Do we even have in digitals that goes out forget
Speaker 15: about those who brought do bring the juriors and drop
Speaker 15: them there and go away, go their way exactly? You know,
Speaker 15: then there is that sometimes it's all laughable. It's very
Speaker 15: very laughable.
Speaker 3: You go there.
Speaker 15: I remember on the other one, one day I turned
Speaker 15: up by four four o'clock in the morning. I was
Speaker 15: actually waiting, I mean on the local one. I was
Speaker 15: actually waiting for the person who have the key to
Speaker 15: the airport to come and component up. And they told
Speaker 15: me that the airport closes by twelve o'clock and then
Speaker 15: you open it by four o'clock, and that the guy
Speaker 15: actually come back, came in with a very big bunch
Speaker 15: of kids that starts opening the gates.
Speaker 4: You know.
Speaker 15: The thing there is that we are innigeiers and we
Speaker 15: see this tough. You know, he needs to find it.
Speaker 15: We need to find a way to copy what people
Speaker 15: do outside. How do they're doing. The airport can be
Speaker 15: a very very good investment, but you need to also
Speaker 15: look at the local ones. You know, from from Lego
Speaker 15: to any state, this one flight, just one how do
Speaker 15: you increase internal traffic?
Speaker 3: You know, how do you do that?
Speaker 4: How do you link it all these things up?
Speaker 15: You know, you have two flights that go to one
Speaker 15: flight or maybe two advertiss a week that goes to
Speaker 15: the mostay, that's it.
Speaker 3: That's it.
Speaker 16: This five and to add to add to that, I
Speaker 16: think they are just to be applied from Legos to
Speaker 16: London every day just to.
Speaker 3: So I don't think we are the economy years for
Speaker 3: coming to spend that. I mean, that's a mount on
Speaker 3: the airport.
Speaker 4: Yeah, we can't say let me say what I'm very.
Speaker 15: Just playing say the goods that people in that astor
Speaker 15: are sent home could in fact, if you link all
Speaker 15: these days, you'll have a very good robots in come
Speaker 15: as turning Nigeria. You link all these notes together and
Speaker 15: then you just undercut l and all these projects and
Speaker 15: all of that, and then you have this indigenous only
Speaker 15: goods alone. You're not even talking about the room business.
Speaker 15: But you need to make it affordable based on our economy.
Speaker 15: You know, you can just have two flights to London
Speaker 15: a day he through has I mean it's twenty four
Speaker 15: hour cycle. Every minute they're playing lines down there.
Speaker 4: And then you know, so we need to look.
Speaker 15: At these things say to ourselves, what how do we
Speaker 15: even sleep? How do we even justify this level of stuff?
Speaker 15: You know, can't you just go to therasive legos. They
Speaker 15: go to engineering the partment, find some engineers and say
Speaker 15: to them, this is.
Speaker 3: What I want you to do that. How can we
Speaker 3: do it? Even if it is telling.
Speaker 15: Them to London or sell them to China. Let them
Speaker 15: go there, get the knowledge, come back and do it
Speaker 15: at a direct level.
Speaker 3: You can do this in several ways, you know.
Speaker 15: But then they have to sit down and award a
Speaker 15: massive contract, call it seven my key contract, seven and
Speaker 15: twelve billions. It sounds so good, you know, and then
Speaker 15: that's it. You know, it goes into people's podcast and
Speaker 15: two years from now we're still back to where we are.
Speaker 20: I think, I.
Speaker 1: Agree. I mean, look at it this way. You know,
Speaker 1: if you if you take economic terms, it's what we
Speaker 1: call you know, what's it called now, chatter skill of preference.
Speaker 1: Like gentlemen spoke earlier about the port, we've got to
Speaker 1: really say, what gives us the biggest bank for ANIRA
Speaker 1: one plus one must be equals to eleven, That's the
Speaker 1: way I see it. So if one deepsea port will
Speaker 1: give us one billion GDP growth, what will ten, low
Speaker 1: low costs inner port all because you can go from
Speaker 1: from the sea from Niger State, Allo to Niger to
Speaker 1: delta from Niger States all which to reverse state, what
Speaker 1: will the economic impact of that port be? And then
Speaker 1: we do that coligussion that we still we're going to
Speaker 1: invest in what we create more jobs, work activity in Nigeria.
Speaker 1: That's how I see it than doing the big, big
Speaker 1: big Marque one seven hundred and twelve billions a lot
Speaker 1: of money. We're building this with the coastal road. Where
Speaker 1: are we getting the money from? Where we're going to
Speaker 1: get the money from. We have a lot of massive
Speaker 1: projects that I doubt would get the money to accomplish.
Speaker 1: That's what I think. Doctor. Let me get doctor in here.
Speaker 1: Doctor uh doctor Tonic. How are you doing man?
Speaker 4: Yeah? Good money and it's been a while.
Speaker 1: How are you doing money? Yes? Good morning, welcome. How
Speaker 1: is how is Australia?
Speaker 21: We are here and I mean.
Speaker 8: Projects, we are better than Nigerians living in Nigeria.
Speaker 1: Okay, okay, I mean we're talking broadly about what's going
Speaker 1: you A lot of projects. It seems lopsided. We will
Speaker 1: look at federal characters. We just focused on the money
Speaker 1: to build a project. What's your take on this?
Speaker 4: I think I I want to have a lot of questions.
Speaker 21: I want to ask because I'm it seems as though
Speaker 21: Tim who doesn't have like they say, legos, they said
Speaker 21: he drew the I mean.
Speaker 8: I think I said he drew the master plan. I
Speaker 8: think he lost the pen and paper he used in
Speaker 8: drawing because some for a start, I think it started
Speaker 8: off with the arch and then it went on to
Speaker 8: buy a jet, and then it bot escalate, and then
Speaker 8: yeah wanted the coast that road, and then they are
Speaker 8: doing a gypsy, and then they went from there to
Speaker 8: airport and every other thing that the people desperately need,
Speaker 8: you know, to boost.
Speaker 21: Economy as all ignored, totally ignored.
Speaker 8: I would I would start by saying, last, just last month,
Speaker 8: I was sent a bill estimated.
Speaker 4: At eight hundred that my mom said to me, of
Speaker 4: course that was used.
Speaker 8: This was the amount they used to generate power for
Speaker 8: my hotel one month, eight hundred and forty thousand, to buy.
Speaker 21: Diesel for the bigger Gen guys for the smaller Gen
Speaker 21: and Penny Pabul eight hundred and forty.
Speaker 8: Thousand, I mean, never bred is just about sixty three
Speaker 8: thousand out of it.
Speaker 21: So how do industry survive if the least they need
Speaker 21: this power and they can't get it. I would I
Speaker 21: would have loved to think that power.
Speaker 8: Would be the number one infrastructure or projects that a serious.
Speaker 4: Government would want to fix.
Speaker 21: That's what I would like to think at the number one.
Speaker 8: Think ever, if you want to fix a country, you
Speaker 8: want that country, you want things to move.
Speaker 4: I think power is number one.
Speaker 8: Then you need reil, you need to build real you
Speaker 8: need to connect cities, you need to connect my okay,
Speaker 8: you need.
Speaker 3: You need good rules.
Speaker 4: I don't I don't understand.
Speaker 8: I mean, if I think they said a drive about
Speaker 8: twelve million people, right, well, I don't think up to
Speaker 8: ten percent of Nigeria.
Speaker 21: Will benefit from renovation of a wink.
Speaker 4: In an airport in one year.
Speaker 21: In one in that year.
Speaker 4: I don't think up to ten percent of the twenty
Speaker 4: two hundred million ninderas will benefit from that.
Speaker 8: I don't know the economic impact that renovating a wink
Speaker 8: in an airport will make to Nigerian economy.
Speaker 4: I don't know about seven one hundred and twelve billion Nira.
Speaker 8: That's a lot of money and that could fix a
Speaker 8: whole lot of things. So I think tirible. Probably he
Speaker 8: wants to work, and probably it's not being given the
Speaker 8: right advice.
Speaker 4: Maybe he might have the good intention.
Speaker 8: I don't know.
Speaker 21: But the project that I'm seeing that I read on
Speaker 21: daily basis, they.
Speaker 4: Don't sound.
Speaker 8: They're like other appetites. It's like your house on fire
Speaker 8: and you are chosen ruts. Or do I say, your
Speaker 8: children at home because their peace hasn't been paid, so
Speaker 8: they're not in school, and instead of you to pay
Speaker 8: the cool fees or so they could go back to school,
Speaker 8: you are going to should I say, you are repainting
Speaker 8: your house?
Speaker 1: So so look look at this.
Speaker 3: What if?
Speaker 1: What if the arguments that this is the stimulus project.
Speaker 1: You know, when you build things, you are creating jobs,
Speaker 1: you are boosting GDP. That sort of angle, it's your,
Speaker 1: it's your your criticism only on the cost of the focus.
Speaker 1: I mean, it's an airport to be built to enhance productivity,
Speaker 1: to enhance the economic output.
Speaker 3: No report is not being built.
Speaker 4: That is the point. The point I'm making it.
Speaker 8: There's a difference between Okay, this airport is crowded, of
Speaker 8: our crowded we are we are getting too much crowd
Speaker 8: in this airport because.
Speaker 4: It's literally only one.
Speaker 21: So we want to build a new one in Ku
Speaker 21: or we want to build a new one.
Speaker 8: In uh in their right to divert crowd so that
Speaker 8: if we have seven million use this airport in a year,
Speaker 8: it could be divided. We have just three million use
Speaker 8: this one and Formula use the other one. It's a
Speaker 8: different thing entirely when you said you are spending the
Speaker 8: story of eight God revated, it's not going through after
Speaker 8: a novational. You're not going to have news new staff
Speaker 8: or as mustaff.
Speaker 4: You are just fun of it and you are not expanding.
Speaker 4: You are not rebuilt.
Speaker 1: You are not I see, I see your point. Yes,
Speaker 1: I see a point. But still again that airport is
Speaker 1: it's an I saw it needs to be expanded and
Speaker 1: all that. So I mean, I I see your point
Speaker 1: on what you're making. And again you're going back to
Speaker 1: the camp of is it better to build new, smaller
Speaker 1: things that have more impact across the federation or to
Speaker 1: focus on that one big investment that is just in
Speaker 1: one state. Again, that's the the debate that we're having
Speaker 1: a space again. Go ahead from the.
Speaker 8: I know I didn't do much, but the little I
Speaker 8: know is you can have small investments that would give
Speaker 8: you money, you know, and that you can now put
Speaker 8: it in a bigger investment. There's the reason why people
Speaker 8: buy teaper again two years less and are buying lasers.
Speaker 8: They didn't go and buy lasers first because they're gonna
Speaker 8: did your money now renting.
Speaker 4: An effort you already have.
Speaker 8: It's okay if you have everyday place you can effort. Well,
Speaker 8: there are demanding, seriously demanding a project, and the joy
Speaker 8: government should engage in, us should get involved in or
Speaker 8: get step up and doing so.
Speaker 4: Get this country working, not renovation and aport. And I
Speaker 4: saw we agree. You go there.
Speaker 8: You don't want to take a picture there because you
Speaker 8: don't like what you see, Fine, but we can.
Speaker 21: We have been using it and we can still use
Speaker 21: it for the next one year. And just have power
Speaker 21: for a start.
Speaker 4: Let's give ourselves power.
Speaker 8: Let's have stable power. It's so, but I live in
Speaker 8: the country. I have stable power, and I can tell
Speaker 8: you how it has immensely helped my life. And I
Speaker 8: will tell you for free that if you have.
Speaker 4: That prin for our lights, you can see. But companies
Speaker 4: will come.
Speaker 8: You get more money from thousands whatever you want to
Speaker 8: if you want to thousand today. You can now do
Speaker 8: that and renovation airports in the next six months.
Speaker 4: That's what I'm saying.
Speaker 1: That's true. I come to agree with you. Yeah, thanks,
Speaker 1: I mean again it I agree with which we have
Speaker 1: to focus on what creates weld and then then use
Speaker 1: that wealth and building social services. Good points made, Dr Obi,
Speaker 1: doctor doctor Nikker, thank you so much. Like Dr Obi
Speaker 1: A Camel Hope, I got that right, doctor Obi. I
Speaker 1: mean I'm not sure when you joined. There's been an
Speaker 1: interesting discussion. We trying to just on that dimension the
Speaker 1: issues going. Yeah, okay, so really where where where do
Speaker 1: you stand on this? On the project that we're spending?
Speaker 1: Are we tilted? Are we spending right?
Speaker 3: Is it?
Speaker 1: Are we spending on the wrong project? What's your take?
Speaker 3: No, we are spending on the wrong projects.
Speaker 22: And the way I look at it is, you know
Speaker 22: these governments, when all these politicians, when they're getting power,
Speaker 22: you know, people are saying us, why do government leave
Speaker 22: things that are very very crucial and be doing things
Speaker 22: spending money on things that are I mean good to
Speaker 22: do if everything else have been have been solid that right,
Speaker 22: but not like it is it is.
Speaker 4: That important right now?
Speaker 22: So you look at the Legos Back Expressway. It is
Speaker 22: great if we have that, but we have more present issues.
Speaker 22: They are trying to spend seven hundred and two billion
Speaker 22: on the airport, They're trying to spend whatever in the
Speaker 22: in Legos.
Speaker 14: Part and all that.
Speaker 22: Now, what I see here is, you know, when when
Speaker 22: when when the new government emerges, right, there are people
Speaker 22: who work for that government to image and as we're
Speaker 22: going into re election, also there are people who have
Speaker 22: to be taken care of, you know. I mean I've
Speaker 22: talked to people in government and I and what I've
Speaker 22: got out of it is that these are people's projects, right.
Speaker 22: You know, the way we have a pre president, there
Speaker 22: are people around him, people that help him to get
Speaker 22: to power. People are going to help him to get
Speaker 22: re elected. They're going to need resources to do this
Speaker 22: or that. So they all have different projects that they
Speaker 22: are their pets project and this is where they are
Speaker 22: going to make their own money. So if there are
Speaker 22: seven of them, maybe maybe this person his projects, his
Speaker 22: project is this airport, and if they do this airport
Speaker 22: and spend PEN seven hundred and two billion, maybe he's
Speaker 22: going to make three hundred billion. And that this person
Speaker 22: is important in the golf for the regime because he
Speaker 22: has some strings to pull, you know. So that's you know,
Speaker 22: that's why we see we do the Legos Calaber Expressway
Speaker 22: because we need to take care of somebody like this
Speaker 22: is somebody's project, and that's now that plays the person
Speaker 22: go chop. You understand, it is somebody's project. So and
Speaker 22: these are the people who will be pushing things in
Speaker 22: front of the president. You know, lobbying love being lobbying,
Speaker 22: and who gets the most lobbying power gets their project approve.
Speaker 22: It doesn't matter if that project is what the country needs.
Speaker 22: But this is my project. Yes, yes, this is our
Speaker 22: government and this is my main project where I'm going
Speaker 22: to make it and their re election is coming. I'm
Speaker 22: going to be one of people. The mexture of the
Speaker 22: president is realested, is releested. So if I get this project,
Speaker 22: if I get this money, I'm going to ploy it back.
Speaker 4: You know.
Speaker 22: So that by the way, right, do we need to
Speaker 22: spend this money on this airport? Absolutely no, right, Calo.
Speaker 22: You know that all over the world, government do not
Speaker 22: manage in infrastructures aiding one right, we are supposed to
Speaker 22: lease out this this airport, you know, and we actually
Speaker 22: having Nigeria and dismissed that a goodness who is in
Speaker 22: the business of managing airport if it's managing airport in
Speaker 22: England and all over Europe, why can he manage the
Speaker 22: Motala Ahmed Airport. And he is actually going to pay
Speaker 22: not the Nagila government paying seven hundred pen five hundred
Speaker 22: million dollars, what the thereabout touring ad Airport. Miss our
Speaker 22: goodness is probably going to pay like two hundred million
Speaker 22: dollars to Nagelian government to lease this airport for twenty
Speaker 22: five years, you know, you know, so that he will
Speaker 22: now put in his own money and not just doing
Speaker 22: of it nigeriandstand that, but upgrowth it to world class,
Speaker 22: you know, and then we go. We moved to Cano,
Speaker 22: We do that in Canoe, we do that in a Nougo,
Speaker 22: we do that important haigh Court and the government and
Speaker 22: the government gets some of these airlines and give them
Speaker 22: license to fly flight to a Noogle, license to flight
Speaker 22: to what Hackle, so that not every every airline is
Speaker 22: flying to Lake Us. In that way, you kind of
Speaker 22: disbust the traffic all over the country. You know, you
Speaker 22: can take some airlines, you know, it's gonna take some
Speaker 22: airlines and say, okay, we're gonna I'm gonna allow you
Speaker 22: to fly that to Cando only you know these airlines,
Speaker 22: we're going to fly to a noble and stuff like that.
Speaker 22: The same thing with our with the seaport. Right, I
Speaker 22: thought that a Bason job privatized.
Speaker 3: That's important. That is what I thought that. I thought
Speaker 3: the sport was privatized. So I'm kind of surprised.
Speaker 22: About also hearing that there is a social amount of
Speaker 22: money that's going to be spending. So I'm not really
Speaker 22: I'm not really understanding what's going on there. But what
Speaker 22: I'm saying in essence is that the governments need to
Speaker 22: privatize this whole thing. We've been shouting about this in
Speaker 22: on the refinery and they are spent it's either fifteen
Speaker 22: or twenty billion dollars to for our Finally since the
Speaker 22: day a Bason job privatizers is finally and listen to
Speaker 22: that and got and when he left, yeah I do.
Speaker 3: I came in and canceled that contract.
Speaker 22: From that time that, ye do, I cancel that contract
Speaker 22: until today, then Jinia has paned probably about fifteen billion
Speaker 22: dollars if not more, on trying to do tonment maintenance
Speaker 22: on all this refinance and as.
Speaker 3: That today it is still not working.
Speaker 22: Okay, so we are just sabotaging ourselves intentionally in this country.
Speaker 22: You know, there's this solar thing that was I was
Speaker 22: following that they are doing in Namimbia. It costs one
Speaker 22: hundred million dollars for one hundred mega works in Namimbia
Speaker 22: and it took one year to be completed.
Speaker 3: Right, so this five from the million dollars about.
Speaker 22: To throw away in this airport would have given you know,
Speaker 22: if you follow that model, it will give us five
Speaker 22: from the mega works of electricity from solar. Right if you,
Speaker 22: if you, if you double it, if you, if you,
Speaker 22: if you put if you would even do like hundred
Speaker 22: mega works or solar plants in the cisty your political zone,
Speaker 22: and and you get a season that mega wants to
Speaker 22: only focus on federal infrastructure in those in those those
Speaker 22: like the universities, the digital hospitals and all the federal stuff.
Speaker 22: Then you would have powered you know, all those universities
Speaker 22: and all the federal university and also all those medical centers.
Speaker 22: You know, you know two four seven for forever. It
Speaker 22: has greater more impact than whatever you are doing in
Speaker 22: the airport. So the land I would say it's a
Speaker 22: waste of money. The government needs to hands off, lease
Speaker 22: out all the airport. We who use the airport will
Speaker 22: enjoy it because it's going to becob world standard. It's
Speaker 22: not this thing that is smelling like you you are
Speaker 22: standing in line to to to get your passport checked
Speaker 22: and the toilet is you know, you are smelling bad
Speaker 22: toilets and they heat and they eat and all that.
Speaker 22: If they privatize it to a global company who knows
Speaker 22: how to run airport, you know, these airport which is
Speaker 22: the first thing that people see what's they're coming to Nigeria,
Speaker 22: it will become something that we can be pride of.
Speaker 3: So a waste of money.
Speaker 4: And I'm even.
Speaker 22: Surprised why the Senate is not you know, I don't
Speaker 22: even know. Like that is why I don't even believe
Speaker 22: in all these new party, this coalition, because what had
Speaker 22: the Senate us doing in the National Assembly? Why are
Speaker 22: they not questioning all this one appropriated end each other
Speaker 22: that that that we're making.
Speaker 3: Nobody is asking questions.
Speaker 1: Yeah, doctor b doctor if you put just want to
Speaker 1: make sure highlights A few points you raised are very
Speaker 1: very important. Number One, you've talked about us using the
Speaker 1: private sector funds to grow these assets and not the
Speaker 1: federal government funds, which I think is very very key.
Speaker 1: You just sort of glossed over that in the UK,
Speaker 1: all the airports Garthwick, he Through, Bristol, Luton, stands Field,
Speaker 1: all they are being expanded, and they are all being
Speaker 1: expanded with private sector money, with government backing, government guarantees,
Speaker 1: government approve us and all that not not distinct not
Speaker 1: the Government of the UK's money. So if we have
Speaker 1: an airport, that airport is viable, like Legos Airport is viable,
Speaker 1: why then are we're not using private sector funds to
Speaker 1: do Legos Airport. If it is viable, it's then the
Speaker 1: unviable ones in quotes that we have talked about that
Speaker 1: should then get the federal support because the feder government
Speaker 1: does not really worry about the economic side of the
Speaker 1: business that are want more about the spread development. So
Speaker 1: if Legos is quote unquote has the highest numbers and
Speaker 1: it's profitable, then you shouldn't get the federal You should
Speaker 1: get a federal guarantee, but not the federal nran Kobo.
Speaker 1: I think there is that point to measure that that
Speaker 1: point is it's understood clearly, Like like you said, where
Speaker 1: is the private sector in all this? We built the
Speaker 1: Legos roads with pension money, the Legos Lucky Road pension money,
Speaker 1: privacy of money and now it's there. So doctor, there's
Speaker 1: a measure. Go back to that point you raise because.
Speaker 3: I think they don't want to privatise it.
Speaker 22: It's also the reason why we have some redundant institutions
Speaker 22: in Ninja, like we have insolutions like JAM.
Speaker 3: Some of our these institutions that that have supposed to
Speaker 3: be have ended. But there are people who are eating
Speaker 3: from me.
Speaker 22: Right, So if you if you, if you privatize this airport,
Speaker 22: then this Federal Airport Authority as an organization, who will
Speaker 22: become obsolete?
Speaker 4: Right?
Speaker 22: So what about people who have you know who that
Speaker 22: is their cash cow? Like there are people who talk
Speaker 22: like that their cash car for the past fifty years, okay,
Speaker 22: something like something like JAM. I've been in a room
Speaker 22: where they're talking about, you know, we need to end
Speaker 22: jams so that you know, people can after they go
Speaker 22: to the university and write and write entrance examination and
Speaker 22: get port. Then the money that people are making in
Speaker 22: that organization, the people who are making that money.
Speaker 3: It's still going to allow you to kill where they're
Speaker 3: eating from. So it's hard. It's our production at the
Speaker 3: end of the day.
Speaker 1: Thank you, all right, all right, great point. Just want
Speaker 1: to make a great point. Just want to highlight that
Speaker 1: fact that we're avoiding the privacy to the first has
Speaker 1: a big, big role to play in this federal What
Speaker 1: would they build out of infrastructure? The federal government does
Speaker 1: not have the money to do this. And if you
Speaker 1: don't try to borrow the money, it can guarantee the money,
Speaker 1: it can facilitate and highlight and get that money too, Annagera.
Speaker 1: But if it's a government use his own budget, not
Speaker 1: it's going to get done. We can do coastal Road airport,
Speaker 1: but that will road Socoto Road all from the federal project.
Speaker 1: It's not simply enough. Cyrus, How are you doing, Cyrus?
Speaker 1: You've heard all we're talking about. What's your texture?
Speaker 8: Yeah?
Speaker 3: Thank you very much.
Speaker 4: Delive in everyone living in Calu.
Speaker 3: And I really agree with what the last peaker.
Speaker 20: I said about these all misplacement in terms of where
Speaker 20: we spend that spare money. Because most of the time
Speaker 20: will talk about these things, we usually forget that the
Speaker 20: money that they has been allocated by the federal government
Speaker 20: is from the back pockets of Nigeria's people when we
Speaker 20: or the other whether to divart you pay or to
Speaker 20: your pit.
Speaker 3: Or your company from terms or whatnot. So and for me,
Speaker 3: I think the Minister of Aviation just to play the
Speaker 3: devils are looking for a moment.
Speaker 4: It said that it was trying to.
Speaker 3: Have an agreement with access back.
Speaker 20: You know, we relate a big way that show some
Speaker 20: peace to a the kind of probably part partnership with
Speaker 20: them that they're venture up in the airport that they're
Speaker 20: meventually listened out to them for their service whatever.
Speaker 3: I don't know, but that agreement did not work because
Speaker 3: we we we we died. Probably there was the reason
Speaker 3: why they decided to take it on themselves.
Speaker 15: But in my own personal opinion, I still feel like
Speaker 15: it's a mispass polity.
Speaker 3: In the light of where we are today. You mentioned
Speaker 3: something about where are we getting the money from? Like
Speaker 3: where is all this man? Where is it coming from?
Speaker 20: And it's even properly used like is he is he
Speaker 20: our polity right now? Because somebody says something also about
Speaker 20: you know, this is not like you're building a new
Speaker 20: airport it's not like you're adding extra value. You're adding
Speaker 20: like extra productivity.
Speaker 15: Is not like anything is going to change, probably going
Speaker 15: to introd some other told feel or whatever you know
Speaker 15: in the in the world or whatever.
Speaker 3: But if there's nothing on the net, not is going
Speaker 3: to change in terms of productivity.
Speaker 15: There's not a building a network of rule where it
Speaker 15: is connected to market, connected to a place of work,
Speaker 15: connected to in those tries.
Speaker 3: It's just you's just innovating a.
Speaker 15: Symbolic building so that I don't know for some reasons
Speaker 15: and think they calls outweigh the benefits.
Speaker 3: That's what I'm saying in essence now to speak to.
Speaker 15: The issue itself about fellow cat and infrastructure spending. Now government,
Speaker 15: government is not there's more unlimited resources.
Speaker 4: That's the first of them to agree on.
Speaker 20: Because sometimes I want to talk about infrastructure and building
Speaker 20: stuff and these and that is assumed that government can
Speaker 20: only go money on trees and this, which is not
Speaker 20: the case.
Speaker 4: And every region, every every place in Nigeria has its own,
Speaker 4: you know.
Speaker 15: Unique market or it's needed, it's unique economy and it's unique.
Speaker 15: It will dispose your people do there. And so if
Speaker 15: a structure should be targeted like that.
Speaker 20: It's not like I remember there was an argument about
Speaker 20: it as the definanci's not definite, and that those are
Speaker 20: the kinds of issues when we when we make policies
Speaker 20: that's based on not just common sense, but it's based
Speaker 20: on political business, and we.
Speaker 3: Start spending more than I supposed to spend money.
Speaker 15: And if you ask me, some of this pool ject
Speaker 15: that does state based, region based, it should be taken
Speaker 15: upon by the government, and it's supposed to be by
Speaker 15: the state government supposed to be in my opinion, that
Speaker 15: the economic activities ought to compress any firs structure because.
Speaker 22: If there's no if there's no economic activity that is.
Speaker 15: Driving the mobilization for the infrastructure they're just building by
Speaker 15: this guy. We've seen all of this thing app scattered
Speaker 15: across the country where the government builds all kinds of
Speaker 15: things and nothing is happening. So it's not I'm not
Speaker 15: of the believer and I'm not of the story that
Speaker 15: when you're building fast ructionhow and you will start participating.
Speaker 4: In the economy.
Speaker 3: There has to be some level of economy and then
Speaker 3: the co movement coming.
Speaker 15: And support we certain firstruction to develop and to consulate
Speaker 15: that economic activity Cyrus.
Speaker 1: Sarah, let's let's take on that's let's dive into that topic.
Speaker 1: So I hear you saying that if this is common, saying,
Speaker 1: if you build it, they will come. You are saying
Speaker 1: there has to be some economic activity first of all,
Speaker 1: before you build it. Let me play, there was advocated
Speaker 1: Sarah Sarrus, let me let me build, let me play.
Speaker 1: That was advocate. What was the economic activity in Legos
Speaker 1: before the government, before the government build the ports, the
Speaker 1: airports before nineteen sixty in nineteen nineteen twenty.
Speaker 15: Has always been Legos has always been because of its
Speaker 15: proximity to the cause.
Speaker 1: Not really, you know it was you know, it was
Speaker 1: Caliber Cyrus. The it was Calibar and Niger States. Sorry,
Speaker 1: not like zung Girru. It was Zungeru. There was Caliber.
Speaker 1: Legos didn't even have a port. The legal to them
Speaker 1: have a proper.
Speaker 15: Been to some estate to some estates have also been
Speaker 15: a kind of legion of international commerce.
Speaker 1: Not really. I just said that there was no part.
Speaker 1: If you if you're the history of Nigeria, right, there
Speaker 1: wasn't there was. They actually have a contract in London.
Speaker 1: There's a book of it where there was no part
Speaker 1: in Legos. Legos had this currents and it was like
Speaker 1: a big conference, how can we build a port in
Speaker 1: this place? Currents are wiping away the harbor Calabal was
Speaker 1: a very very safe port. But they wanted to come
Speaker 1: to Legos because the Colonel Office was in Legals. Remember
Speaker 1: that the UAC was a private company and when the
Speaker 1: UK government took over UAC, they had to then build
Speaker 1: a port in Legos because the Colonel Office, not the
Speaker 1: Foreign Office, took over, so they have to build the port.
Speaker 1: So the point that the point making that yeah, but
Speaker 1: if if okay, let's look at let's go, let's go
Speaker 1: to do there was nothing happened in Dubai when they built.
Speaker 1: When the Dubai started, they build the airport, they build
Speaker 1: the port, they passed the laws and then commerce came
Speaker 1: in Dubai.
Speaker 3: Okay, okay, let me let me tell you legals, then
Speaker 3: I go to Dubai. Right.
Speaker 15: They mentioned that the companies they see the value in
Speaker 15: the need for the port. What I'm saying is that
Speaker 15: there are situations in Najeraa have seen like and I
Speaker 15: can't stay that people building people government building started infrastructure
Speaker 15: that is not based on the economic cisy it's based
Speaker 15: on political reasons, and it's based on what we're describing
Speaker 15: this particular conversation as further character.
Speaker 3: Not because there is a need for you. That's one
Speaker 3: part of it. So it's no model the conversation.
Speaker 15: Now the issue of Dubai or place it will say
Speaker 15: Norway right or other costs like that. What is their
Speaker 15: fiscal condition and what the fiscal conditions of Nigeria in
Speaker 15: a certainly for example, when I was swimming in the
Speaker 15: oil boom revenue that go over five hundred percent, we
Speaker 15: can't wait. We can be lazy enough to do yourself
Speaker 15: in all kind of mega put make economic size. Do
Speaker 15: bad have the money to do that? And they did
Speaker 15: all of those things, and yes it's po economic good.
Speaker 3: But you can see into weather. If they were not
Speaker 3: in that position, would.
Speaker 15: That be an economically sensible thing to do?
Speaker 1: Cyrus, I can I can trust single powerts you that
Speaker 1: had no money and build the infirst.
Speaker 4: Just start building the.
Speaker 1: I know what going to Okay, last one again, guys, understand,
Speaker 1: I'm just saying that was advocates certain last one, Syrus,
Speaker 1: this and not this is not this is our project
Speaker 1: already existing. We have a port in a door. We
Speaker 1: have a port in Worry. We have a port that
Speaker 1: already existing. The same way we are expanding the ports
Speaker 1: in Legos and the airports in Legos. We also have
Speaker 1: airports in a door in Worry that we can also expands.
Speaker 1: So they're not they're not a federal character quote unquote,
Speaker 1: they're not green projects. There are brown field we have
Speaker 1: to go in and expand them. So instead of driving
Speaker 1: on the way to Legos, you can send in your
Speaker 1: big ship to a door to Worry, or you can
Speaker 1: fly do and Worry or protact colts out of the country.
Speaker 1: So it's already existing that in market clusters. It door
Speaker 1: has a market cluster. There a lot tons of das,
Speaker 1: but tons of activity in a door. Worry has a
Speaker 1: market cluster already. So the airport then logo for an instance,
Speaker 1: that was built by the state's already there. The Federrama
Speaker 1: can go there and say, Okay, we're going to make
Speaker 1: this airport and airport, make it cargo. It's already there.
Speaker 1: It's existing in a number, so there's already a market.
Speaker 1: I think the point is that you should they now
Speaker 1: be federal characters to say, if you're going to spend
Speaker 1: we can spend one for one. Lego is a larger market,
Speaker 1: so legals will get the bulk of the federal spend.
Speaker 1: But should they also be spend across Nigeria to ensure
Speaker 1: that development happens across the countries we're all talking about.
Speaker 4: The bottom line.
Speaker 15: Cal This is my last point is that your location
Speaker 15: in terms of infrastructure.
Speaker 4: Should be perceived like what exactly are you trying to
Speaker 4: be there?
Speaker 3: Right?
Speaker 15: Even let's take about the state for example, right, many states.
Speaker 3: Are building airport.
Speaker 15: Nobody's coming, no, no single flight.
Speaker 3: Is no, right, they're doing that. So it should be
Speaker 3: that for me, like I said earlier, this.
Speaker 15: Innovation it's it's you know, for me, it doesn't make
Speaker 15: any sense because because of the money and everything in
Speaker 15: a net, it does not give you anything in return.
Speaker 15: So infrastructure should be based on what exactly is the
Speaker 15: market cluster of that particular region.
Speaker 1: You can understood, so understand good back up, Victim book,
Speaker 1: you picked a job writing picked us? Have you in
Speaker 1: victor Victim? Yeah, I can hear you go ahead.
Speaker 4: Right, thank you very much.
Speaker 3: Living house.
Speaker 4: So I've been following the conversation and.
Speaker 23: I think I want to pick up from where Cyrus
Speaker 23: dropped of What Cyrus is actually saying is that Singapore like.
Speaker 4: Actually, you have to be.
Speaker 23: Valuable before you have to do like before you look
Speaker 23: at the infrastructure, and I think, like Singapore, you made
Speaker 23: mention of they are.
Speaker 4: Actually net exporters, and I didn't think the US.
Speaker 1: Yet net exporting, but there weren't. They went in to
Speaker 1: net exports are when they started. You see the point
Speaker 1: when they started, they were inter net export. That's the
Speaker 1: point I'm trying to make with Singapore. Singapore is an
Speaker 1: island with rats and stone. That's what That's what the
Speaker 1: PM said. Then they then build the ports, world class ports,
Speaker 1: world class ports, and then passed the laws.
Speaker 23: And people came, okay, let's let's look at America. Before
Speaker 23: Henry Foster left building cars, there was infrastructure, but infrastructure
Speaker 23: full of techniqelogies and referred after abuse Carr, you.
Speaker 4: Know, oh we need rules for these cars.
Speaker 3: That's when.
Speaker 23: Now, okay, let's build roads and refers the building cars
Speaker 23: before road skin and I think that's that's where we
Speaker 23: should be, not building roads before the cars. And actually,
Speaker 23: if we have to build cars, or if you have
Speaker 23: to actually build infrastructure, it has to follow what we
Speaker 23: can do like.
Speaker 3: Our next expert lie each day.
Speaker 23: I believe there's something they can export, there's something they
Speaker 23: can process. Singapore probably they don't have much imports. The
Speaker 23: imports raw materials, refine them and re export them. That's
Speaker 23: education at work. And that's actually the way I wanted
Speaker 23: to point at actually for us to become valuable and
Speaker 23: our infrastructure.
Speaker 3: Really bringing what we want. I think the educational sect
Speaker 3: needs to be fift up.
Speaker 23: We need to we need to do much more with
Speaker 23: like education in Anglia, I don't think. I don't think
Speaker 23: education and Anglia is up to what be if we
Speaker 23: invest more and your points earlier, earlier on I.
Speaker 4: Was listening to you.
Speaker 3: You say that we at least.
Speaker 23: Send people out of the country and they should study
Speaker 23: and come back to Nigeria.
Speaker 4: I'm not sure that works.
Speaker 23: In my secondary school many years ago, he sends some
Speaker 23: of the best teachers out of the country universe and
Speaker 23: just tellone and till today, I can remember one person's
Speaker 23: name that never returned and I think.
Speaker 4: It happened again dream where eastern on they never returned.
Speaker 17: So but somehow so I think we can be for
Speaker 17: like make our educational system better of have like everythink
Speaker 17: I look at China, how.
Speaker 3: Do how do you learn?
Speaker 23: They don't just learn to become workers or I think
Speaker 23: they learned to build America also they actually they actually
Speaker 23: learning to create something.
Speaker 4: They're learning to build.
Speaker 23: So for us to build better infrastructure that will become
Speaker 23: profitable for the Nigeria society or Nigeria as a whole.
Speaker 4: I think we have to start having that mindset.
Speaker 3: Okay, if we have important worry, what's that?
Speaker 4: What?
Speaker 3: What is that thing we can produce? Or what will
Speaker 3: be what will be the.
Speaker 23: Main economic driver in worry? Or what can people in
Speaker 23: worry do if you want to export something like titles?
Speaker 23: I mean we're important titles, so I don't know now,
Speaker 23: but we're important fishing. If we have fishing worry and
Speaker 23: I'm just saying, I really have fishing warring.
Speaker 3: If we have fishing worry.
Speaker 23: And we can process it and send it to other
Speaker 23: African countries, then we can say, oh, we needly put them.
Speaker 23: But actually, right now, I think someone say that the
Speaker 23: airport is not.
Speaker 4: There, doesn't ever wrong to be for ours. I think
Speaker 4: we are putting the is it the cart before the
Speaker 4: horse before?
Speaker 1: But again Victor, this is I think when we can't eat.
Speaker 1: You can have it right, This is how I look
Speaker 1: at this commision. We can eat. You can have it
Speaker 1: if you ever can go to I don't want to
Speaker 1: send put to their office. And then over there's a
Speaker 1: UAC building in Legos, UC on a Doula street. If
Speaker 1: you ever have the chance to go into the USC building,
Speaker 1: you will see the picture of Legos in nineteen fifty
Speaker 1: nineteen sixty when they were building the fly of Us.
Speaker 1: There was no car in Legos back then? How many
Speaker 1: popo had kind Legos? Go look at you see where
Speaker 1: they were building it. You see very few cars. They
Speaker 1: build those overhead bridges because they anticipated and in the
Speaker 1: next twenty five years Nigeria would be a massive economy,
Speaker 1: lots of cars, so they needed those cars to be built.
Speaker 1: You get what the putumt making. You build in anticipation,
Speaker 1: anticipation of what's going to happen. Number one. That's number two.
Speaker 1: Number two. We already have the port in a do
Speaker 1: we already have the port in worry. We already have
Speaker 1: the port in on air. We already have the port
Speaker 1: in caliber. They already exist. Those ports that have been
Speaker 1: working today if they were drafted. The reason why they're
Speaker 1: not working is because the ships they need to be
Speaker 1: dredged so bigger ships can go there. We're not debating
Speaker 1: the Lego sport, the Lego sport, the route the airport
Speaker 1: in my view, because we want to build an economy
Speaker 1: that's going to take us number one in Africa, they
Speaker 1: have got to be fike. Should the money come from where?
Speaker 1: That's a different topic, right, but federal character would say
Speaker 1: that if you have a one billion, Legos can get
Speaker 1: five hundred billion. The other states can get their many
Speaker 1: five but about four or five states I've called here.
Speaker 1: But if we take seven hundred the whole money to
Speaker 1: one airport, all were doings were concentrating those activities in
Speaker 1: one zone, which will become over crowded. Again. If you
Speaker 1: fix the airport, what's the road from the airport is
Speaker 1: still the same usher the express road from the airport
Speaker 1: Now it's not the same oshand expressway. It's going to
Speaker 1: be the same issue that will end up in Ecualdu Expressway,
Speaker 1: as is there going to be a new road. There
Speaker 1: is the same road. But if you fixed a dough
Speaker 1: or worry or caliber, at least you are sending some
Speaker 1: traffic out, which is why even in Legos alone, we
Speaker 1: had tin Can a Papa and the other port. We
Speaker 1: have three in Legos because one got over crowded. Then
Speaker 1: we build three ins to solve the overcrowded in Legos.
Speaker 1: So to keep on and we're building a new one
Speaker 1: in Pedagary. We're building on not new one. We're renovating
Speaker 1: a new one in Legos. If we keep on renovating
Speaker 1: and we'll get a world class in Legos, then the
Speaker 1: whole of our current thing just keeps on happening. But
Speaker 1: I refer to yourself, Go ahead, I.
Speaker 3: Get your point, But my point is start.
Speaker 23: Regardless of the number of ports we are building the playbook.
Speaker 23: I think the playbook we are using right now or government.
Speaker 4: Is in now is expired as no more in bod
Speaker 4: that was some years ago.
Speaker 23: That building infrastructures, I think that was when the predict
Speaker 23: that Okay, in the next few years nine years, population
Speaker 23: work grow and we need.
Speaker 4: To buy cars, they need to buy this of let's
Speaker 4: building ports and absolutely to work.
Speaker 3: Now I don't think that works.
Speaker 23: I think right now, what's every every mission should be
Speaker 23: striving to have a pie in the globally co or
Speaker 23: mixed like people. So we we are actually we should
Speaker 23: actually be looking at.
Speaker 15: Okay, work can be process and have this stamp or
Speaker 15: need like like have this stampany globally or even in Africa.
Speaker 1: I mean, even you've made that point, let me ask,
Speaker 1: just final closing, do you think that we should use
Speaker 1: federal character for infrastructure projects in Nigeria?
Speaker 23: I don't think we're right in shorts even that investments
Speaker 23: you should you should go to somewhere else not if
Speaker 23: we want to use for airports, I think it should
Speaker 23: go elsewhere.
Speaker 3: Not really closer.
Speaker 22: And even if it can even go to power, I mean,
Speaker 22: our power is very low at the world, we generated
Speaker 22: very it can go to power and it would actually
Speaker 22: help a lot of if power is fixed a lot
Speaker 22: and all other affectors would actually.
Speaker 1: Kick up, you know, would it makes sense? Just just
Speaker 1: general questions. Imagine if if imagine if Latino says we're
Speaker 1: going to fix the power in Legos because Legos has
Speaker 1: got more industries in Nigeria, so we're going to not
Speaker 1: fix power anywhere else, but will fix power in Legos
Speaker 1: so that Legos folks can get powered. Imagine how that
Speaker 1: would sound. That would be absurd. People will say, people say,
Speaker 1: what do you want are you talking about even if
Speaker 1: I don't have industry in any group or just I
Speaker 1: need power, you know what, you know, people need to
Speaker 1: be absorbed. So why is that airport sound different to
Speaker 1: us than say power? But gu's the point. I don't
Speaker 1: know if you've spoken, No, have you spoken? I know
Speaker 1: you have spoken? No no have you spoken?
Speaker 3: No? No?
Speaker 4: No?
Speaker 3: No?
Speaker 1: Oh please go ahead, yeah, go ahead now yeah.
Speaker 5: Yeah.
Speaker 2: So since I've been here people a lot of people
Speaker 2: have said it doesn't point out to say it, but
Speaker 2: I just want to say this. We need as a country,
Speaker 2: we need partners. Realizes this this idea that you should
Speaker 2: do everything ourselves. I can see that going around.
Speaker 4: We can't as mentors not have the power to do
Speaker 4: everything itself.
Speaker 3: And the government can over run any they.
Speaker 4: Can run an industry.
Speaker 2: So we're talking about the airport, talking about the industries
Speaker 2: that supposedly.
Speaker 4: That our governments are running out there. It's it's not
Speaker 4: something that they got. Any government can do. So I
Speaker 4: believe so much in a privatization. I believe so much
Speaker 4: in allies. So that's why I was reading.
Speaker 2: About this in a social deal and I feel the
Speaker 2: idea so from what I read is they want to
Speaker 2: improve thee for if you look at the places they
Speaker 2: want to improve, we say it's from the southwest and Legos, right,
Speaker 2: I don't think Legos is up to international standard yet.
Speaker 2: So if for me, if they want to improve it
Speaker 2: to attract more partners from from the from the international body,
Speaker 2: it's it's a good thing if they if they can
Speaker 2: improve it.
Speaker 4: But even saying that that the government can improve something,
Speaker 4: to me, it's something that I do not agree with.
Speaker 3: I don't believe in the government running things.
Speaker 2: I believe the governments should go want things right. Why
Speaker 2: an party that has stake there's an interest, the private body,
Speaker 2: private person should be able to run small dies.
Speaker 4: So I don't the idea that we have.
Speaker 2: Also also the idea that we have to distribute the
Speaker 2: the resources to other states.
Speaker 4: I make sure they go to it. It sounds good,
Speaker 4: but it's not work.
Speaker 3: But it's the law.
Speaker 1: It's the law. I hate that law. It's the worst
Speaker 1: law in Nigeria's history. But it's in the law books.
Speaker 1: And I think that sometimes people when it favors them.
Speaker 1: People like that law. Why doesn't it favor them? They
Speaker 1: sort of ignore it. I don't like federal character, but
Speaker 1: it's the law. It's and there's a word in fa
Speaker 1: character that says proportional. It's in the father character proportional.
Speaker 1: So in what we're trying to say, which is stupid
Speaker 1: in my views to say, if you're building legos, you
Speaker 1: must building south. It doesn't make any sense in my view,
Speaker 1: but it's the law. You can't. But again you can't.
Speaker 1: The president can't have a fund. And then the president
Speaker 1: a loan will determine where he would and where he
Speaker 1: would give contracts to. So he will give contract to
Speaker 1: Ekecher Airport, he'll give contract to the catch a Port,
Speaker 1: he'll give conduct to but diagree. But other states don't have.
Speaker 1: That's why we have a national same and a budget.
Speaker 1: That's the reason why even matter how flawed that processes,
Speaker 1: at least everyone will say would have a say. And
Speaker 1: the way it's going, it's almost like we have one
Speaker 1: emperor that can look, this is money from the budget.
Speaker 1: This money is not money they're making from donations. This
Speaker 1: is still money from subsidiy removal. This is money that
Speaker 1: you and I are paying as taxes. So this is
Speaker 1: the point that I sort of I don't agree with.
Speaker 4: All right, the the idea of like an emperor the
Speaker 4: again the right.
Speaker 2: I don't think people criticize him.
Speaker 4: The winning came for me.
Speaker 2: Is that indeed, it's almost like it's almost like an emperor.
Speaker 1: But all winning the laws, all winning the laws, all
Speaker 1: within the laws. This this, this renewed Hope Infrastructure Fund,
Speaker 1: it's not being pasted by National Assembly. It's not being
Speaker 1: past National Assembly. You cannot spend money Section eighty of
Speaker 1: the Constitution. You cannot spend money without appropriation. So on
Speaker 1: the constitutional level, on the last level, if you can't
Speaker 1: do it, this is this is ignoring the fact that
Speaker 1: should we do federal character or not? The federal character
Speaker 1: The very basis of that fund is wrong.
Speaker 4: I understand what I say. I understand the federal character.
Speaker 4: There understand it.
Speaker 3: But we we we have to still know that we
Speaker 3: are in.
Speaker 21: A very.
Speaker 4: We need allies to be to do understand so we
Speaker 4: have to understand that we need them to be.
Speaker 2: No Yeste's time, we need them to be today. There's
Speaker 2: no country that can there's no country that can.
Speaker 4: Go in the same of fund. Every of the country
Speaker 4: you have, even America. Most of the as I said,
Speaker 4: most of.
Speaker 2: The companies that actually boose the economy are not run
Speaker 2: by Native Americans. These are private people from different parts
Speaker 2: of the world.
Speaker 4: That is what we need in Nigeria.
Speaker 21: That's one another.
Speaker 4: Thing I want to say is there's a lot of.
Speaker 2: A party from the Nigeria's towards the government like this
Speaker 2: thing that this stuff that the government is doing. Now
Speaker 2: I've not heard anybody say anything good about it.
Speaker 3: Yes, it might it.
Speaker 24: Might not be.
Speaker 21: It might not be.
Speaker 4: It might not it might not be good.
Speaker 8: I don't know.
Speaker 2: But there is an outcome that you are trying to
Speaker 2: drive which might solve a particular issue. So I want
Speaker 2: us to be looking at this from that aspect that
Speaker 2: we can't solve all deprovements one day.
Speaker 4: If if, if, if.
Speaker 2: An actually by the government is solving in particular problems,
Speaker 2: this should be they should be appreciated and praised, because
Speaker 2: the wait to actually change people is.
Speaker 4: To show appreciation, to show that, Okay, we understand what
Speaker 4: you're doing, we're seeing what you're doing.
Speaker 2: And even if even if it doesn't solve all our problems,
Speaker 2: it's solving a particular problem. So if we can make legosity,
Speaker 2: if what they're doing can make legosty, it's still that's
Speaker 2: a trusting The development will move from there.
Speaker 1: All right, And I understand your points here. Basically, let's
Speaker 1: get let's just have one world class city. Let's have
Speaker 1: that one. At least we can say we have one
Speaker 1: world class city and that we can build from there.
Speaker 1: That's the point you're making. Understood.
Speaker 4: I hear you.
Speaker 1: Let's get some sam some what's your take on all
Speaker 1: the same. We're talking about infrastructure and somebody, what are
Speaker 1: buying infrastructure, we're bringing in federal character, we're seeing it,
Speaker 1: even talking about the presence part to allocate funds to
Speaker 1: build this in a structure. You've had this guy talk
Speaker 1: about the lest let's build one world class state even
Speaker 1: if we have it. What youll take somebody?
Speaker 4: Yeah, thanks Carl. I've listened to everyone in this kind
Speaker 4: of debate. It will be it will be very difficult
Speaker 4: to to be talking about everything when you according to
Speaker 4: when you have problems like elephants, you cannot so much
Speaker 4: elephants in the eighties or six thing years. But take it.
Speaker 4: Take a drunk and let's deal with that trunk. So
Speaker 4: I was talking about power, I were talking about alleviation.
Speaker 4: I believe the difficult has been aviation. Then let's not
Speaker 4: narra down to the aviation.
Speaker 1: The the well, it's not it's everything. It's not a vision.
Speaker 1: I listed out the project when I started depart the railways.
Speaker 1: Everything a vision. I just want to sort of trigger
Speaker 1: out the space.
Speaker 4: But yeah, it's everything, okay, okay, yeah for the real
Speaker 4: where I'm not too sure. I thought that the river
Speaker 4: states sorry bar has commenced, but I do that was
Speaker 4: a debate on that was the in Was it a
Speaker 4: narrow gauge, It's a standard gauge.
Speaker 5: That was.
Speaker 1: I don't think it matters. I mean, like you said,
Speaker 1: it's nothing commenced. What the President has done is that
Speaker 1: he wants to borrow twenty one billion. He listed projects
Speaker 1: that the moneys will go for the railways in the
Speaker 1: Easter among the projects. But no new work has started
Speaker 1: there the work. There's no railway work going on.
Speaker 3: I know.
Speaker 1: The I think the Kanno to Maradi in Niger really
Speaker 1: still going on because the loan was taken doing Bohari's administration.
Speaker 1: I think that's what's going on. Val thing going on here.
Speaker 4: Okay, yeah, so I'll just focus on the advasion and
Speaker 4: that was the one I saw yesterday, and this money.
Speaker 4: Some traits for the Minister of as viature. I think
Speaker 4: it's a loadable improvement to the It would be a
Speaker 4: loudable improvement to that facility in Legos. But my problem
Speaker 4: is is it really addressing the issue of that facility
Speaker 4: of that airport as a user. I just left there yesterday.
Speaker 3: As a user, one of my biggest.
Speaker 4: Problems in that facility is the commute from the domestic
Speaker 4: wing to the international wing. Either you are ladin at
Speaker 4: GADS or your larder at true you are to stick
Speaker 4: at the public transport again, live, enter the city and
Speaker 4: go to the international steremina. That is not encouraged. There's
Speaker 4: supposed to be this here, so it's not addressing that issue. Secondly,
Speaker 4: as a user, I should be able to and I
Speaker 4: think if I dress this a little bit, I can
Speaker 4: be able to step out, move a little to arrive
Speaker 4: at seminar and get my transportation. But it can be
Speaker 4: much easier that you can drive in and drop off
Speaker 4: take your back. So there are some basic things that
Speaker 4: I mean, there are some functionals are for funtionality that
Speaker 4: is missing. Both this.
Speaker 3: This new the model that I saw, I dressed some
Speaker 3: of the.
Speaker 4: Fostionality, but it has not addressed the commute between the
Speaker 4: domestic wink and international wik so as a project, those
Speaker 4: are some of the things that I look after because
Speaker 4: all the all, they are all most of the everces
Speaker 4: on the mode that they showed those is all. It's
Speaker 4: called about beauty, body, called esthetic needs. That's most of
Speaker 4: the things. But to these basic fostionalities, how do you
Speaker 4: reduce the stress of each of the users? How do
Speaker 4: you give efficient service? So the user it's going to
Speaker 4: be addressed in that project. So that is what I
Speaker 4: wanted to really, I thought we were going to we
Speaker 4: are focusing on otherwise. The g is a big, big problem,
Speaker 4: no matter, and it's a big problem. I mean it's
Speaker 4: a big problem in terms of needs. One of the
Speaker 4: things I told my friends the coastal roads between Legos
Speaker 4: and Calaba. I told my friend it is not possible,
Speaker 4: point blank, it's not possible. The DA cannot build a
Speaker 4: road on the Niger. That that's one it's not possible.
Speaker 4: I put them the co co ports is in Coco Port.
Speaker 4: It's not by this, it's not by the Atlantic Show.
Speaker 4: It's inside sup Report is inside, will Report is inside.
Speaker 4: What what kind of bridge are you going to build?
Speaker 4: That big cargo ship can pass under the bridge and
Speaker 4: go and back in those ports I made, I made dredges,
Speaker 4: I made the plan. Are you going to use in
Speaker 4: the Niger data? Don't form the road? It's not possible.
Speaker 4: So that's why the last time I heard the minister,
Speaker 4: we are going to dabbatin on those things. That's a
Speaker 4: bad la.
Speaker 3: Fingers were not serious.
Speaker 4: It's impossible projects.
Speaker 1: The dominding guys to get you your take on this question.
Speaker 1: So do you think in your view, do you think
Speaker 1: we should use federal character for infrastructure in Nigeria? Do
Speaker 1: you think it's we should, absolutely we should.
Speaker 4: The must be spread a round of infrastructure or the
Speaker 4: question is what is the spread?
Speaker 1: Okay? Would second question if the if the project is
Speaker 1: not economically valiable, do you still think that the federal
Speaker 1: government should still invest because of federal.
Speaker 4: Character because there are a lot of competing Okay.
Speaker 1: So so I hear you.
Speaker 4: So what you're saying that it is not the point
Speaker 4: of beauty for the future.
Speaker 1: Okay, how do you how how do we determine quote
Speaker 1: unquote economic activity? If I go to the state of Biosa,
Speaker 1: that's one of the poorest state in Nigeria, ignore the
Speaker 1: oil one of the poorest biosa. How do I determine
Speaker 1: economic activity to allow me to establish a protein biosa?
Speaker 1: If this date no econom activity, do I walk away?
Speaker 3: No?
Speaker 4: Okay, I'll give you example. Bias Niger cats. I think
Speaker 4: iron there one of this Korean company. They have a
Speaker 4: massive shipbuilding facility there. Those are some things we can
Speaker 4: tie into. How do we make it more better? How
Speaker 4: they we make those facilities more economically useful? How do
Speaker 4: we create a journeys infrastructure today? And the roads the badges?
Speaker 4: There are a lot of things that can be done
Speaker 4: in Niger data and there's a lot of gas flanders
Speaker 4: to keep places there.
Speaker 3: How do we move those gas into inland?
Speaker 4: There are a lot of things you can still do
Speaker 4: in in a bias state.
Speaker 3: Or the bigger and the bigger scaler.
Speaker 4: Like that.
Speaker 1: There's no wrong answer. I just want to get your
Speaker 1: take just for us to follow wars, because I mean,
Speaker 1: the space is just basically asking a few questions. Number
Speaker 1: one is questioning the president's power to allocate tax revenues
Speaker 1: with our appropriation. Number two is questioning if we should
Speaker 1: do project without federal characters. You know, the two central
Speaker 1: points at the Swiss's addressing. I appreciate all those other
Speaker 1: questions we're raising, but it's added two central things that
Speaker 1: we're raising, and I think it's very very important. I
Speaker 1: also like the way you praise. I can on a
Speaker 1: side that if I go to legos more local and
Speaker 1: I want to go to international, I have to go
Speaker 1: on board the boss to take me out into the
Speaker 1: that's that's wrong and a should be a quick win
Speaker 1: that we can do and fix. And I just raised
Speaker 1: the productivity there. But I hear you body so good
Speaker 1: point uh, ben Ben, You've been hopping in and out.
Speaker 1: I finally got you in here, ben Ben, go for
Speaker 1: it same, thanks so much. Yeah, go ahead, I can,
Speaker 1: I can't. Yes, please go ahead?
Speaker 3: Ye okay.
Speaker 4: Either the network is so, then I want you to
Speaker 4: do it where to build projects. A fair character touches
Speaker 4: three basic areas.
Speaker 25: The quoter system for jobs, for federal goverment jobs and
Speaker 25: minister appointments.
Speaker 4: And in fair characters. For minister appointments, you have to
Speaker 4: when you when your appoint you.
Speaker 25: Ministers, at least every state has to have at least
Speaker 25: one minister in the appointment pools. And then when you're
Speaker 25: giving jobs at the fair level. And then when it
Speaker 25: comes to political zoning, you know this fair character there
Speaker 25: to So those are the areas that fair character according
Speaker 25: to the constitution touches. It does not release me anything
Speaker 25: about where to build infrastructural projects.
Speaker 3: You have to build the structure projects here.
Speaker 25: That is left to the fairer governments and those that
Speaker 25: are in charge of strategy in terms of, okay, what
Speaker 25: do we need to do to grow as a country.
Speaker 4: Where should we build these projects?
Speaker 3: And the truth is if you look at fairment projects,
Speaker 3: like if you.
Speaker 4: Look at the coastal Road and look at some other
Speaker 4: the railways.
Speaker 25: These are projects that will befits various states.
Speaker 4: The co Star Road is going to be defits all
Speaker 4: the coastal states.
Speaker 1: Then do you mind asking you a question? Just that
Speaker 1: way we can we can get to my point. I
Speaker 1: asked you a question about you. You said a comment,
Speaker 1: wasn't it Timine? Why is there refinery and Karuna states?
Speaker 25: Now that the Carduna is a properate problem of port design.
Speaker 3: You know when they when they buse.
Speaker 25: Carna at that time they I don't know what they
Speaker 25: were thinking in terms of how do we supply kludor
Speaker 25: at an efficient level?
Speaker 4: So that by the time Goudor gets so do.
Speaker 25: You finally we start talking about crackspread and start talking
Speaker 25: about oh what is our opex? It's not talking about
Speaker 25: profit margins. We can nactually make profits. They did not
Speaker 25: have efficient supply.
Speaker 4: So by the time the.
Speaker 25: Seas and they wanted to start actually using this refine,
Speaker 25: and they found out that it's not even profitable for
Speaker 25: your finance.
Speaker 1: But they knew, they knew, they knew from the staff
Speaker 1: that they were going to use in Ben, see what
Speaker 1: I'm going to Ben. I'm not trying to debate the refinery.
Speaker 1: They knew that it was going to use imported oil.
Speaker 1: They knew it to not be profitable, but it was built.
Speaker 4: And it's har about imported. It's about transportation. No, No,
Speaker 4: it's used transportation.
Speaker 1: There's a pipeline from Scraposa for only crude oil. There's
Speaker 1: a pipeline only.
Speaker 4: Crude oil, and it was there at that time.
Speaker 1: It was built for re final It's no, no, no, Ben.
Speaker 1: Get the point you said that we that we don't
Speaker 1: do for that character for industries, and I'm saying we do.
Speaker 1: There's a there's a still refine. There's a steel mill
Speaker 1: in Cartsina, what's it doing there?
Speaker 4: The pipeline that runs from Esco card Yes lake is
Speaker 4: not active.
Speaker 1: No no, but it's the pipeline. Forget the active. Nigeria
Speaker 1: built a pipeline from the s Cravles to Kaduna for
Speaker 1: crude oil. That's the point I'm making that we do
Speaker 1: look at federal character when we are building projects in Nigeria.
Speaker 1: That's the point I'm trying to make when we are
Speaker 1: building things. That's why I don't like that. I don't.
Speaker 1: I don't like that.
Speaker 4: Yes, but it's it's it does before.
Speaker 1: It hasn't changed, my brother, that's why. So it hasn't changed.
Speaker 1: When we do things in Nigeria, we always do a
Speaker 1: federal character. Hence the space is asking should we because
Speaker 1: we do it, we can't take We should not say
Speaker 1: it's like I said, it's not right or wrong answer,
Speaker 1: but we can't ignore that we don't do it.
Speaker 3: We do it.
Speaker 1: That's why we have steel mills in most regens we have.
Speaker 1: Remember when we build the still mills, there are no regions.
Speaker 1: There was no Southeast, nor has got a steel meal.
Speaker 1: South has got a steel meal. Southwest has a steel meal.
Speaker 1: Even South South even though there's no has a still me,
Speaker 1: but it's not still mean. It's all the southeast. Southeast
Speaker 1: has his own has his own issue in Nigeria.
Speaker 4: And close to the iron or the position.
Speaker 1: So why do you have so? Why do you have
Speaker 1: steel mills all across Nigeria sometimes with no iron ore?
Speaker 4: I think we need to be smarter and stop doing
Speaker 4: things that way.
Speaker 1: Okay, definitely, all right, why do you have so? I
Speaker 1: can give you more examples on this.
Speaker 4: You have the gas recently recently you won't find any.
Speaker 1: Look at well said so, but where I'm going to
Speaker 1: with this is that you know, that's the question that
Speaker 1: should we do this way? And if we agree that
Speaker 1: we should not do it this way, let's come now
Speaker 1: to present day. We have the president today taking billions
Speaker 1: from a fund that is not appropriated to do project
Speaker 1: across Nigeria, specifically with an overweight in legos. Do you
Speaker 1: say any problem with this?
Speaker 4: Okay? Do you need OPENFRA structure development?
Speaker 3: Phone?
Speaker 1: Correct?
Speaker 4: The context, the context that everybody needs to understand about
Speaker 4: that phone right now is done.
Speaker 25: A large percentage of the money that goes into that
Speaker 25: phone is not from the government.
Speaker 4: It's from private pension funds.
Speaker 7: Child not note that came from the government was.
Speaker 1: Not no pause the pause there, pause there. The fund
Speaker 1: is targeting investments from the private pension funds from It's
Speaker 1: like a normal phone, but does moneys haven't come in yet.
Speaker 1: It's a fund created to target.
Speaker 4: That has called me right now was appropriated.
Speaker 1: Where's the money from?
Speaker 25: Where's the money that has called me right and was
Speaker 25: appropriatedly approved?
Speaker 1: What you're telling okay, let me ask you. So what
Speaker 1: you're telling me is that National Assembly appropriated seven and
Speaker 1: twelve billion to go to the to the right to
Speaker 1: the renewed Hope Fund in excess of the Ministry of
Speaker 1: Aviation and Ministry of Transport. Is that what you're saying.
Speaker 4: I'm not explicitly saying that. What I am saying is
Speaker 4: that if there was any if there's any Ferra God.
Speaker 25: Made money in the renewed for Hoop Infrastructure Fund from
Speaker 25: the far agment from the frauderation, it must have been appropriated.
Speaker 1: It's most now I'm telling you it's not. You said
Speaker 1: it was, and I'm telling you it's not. I don't
Speaker 1: give you a good example. The budget for the for
Speaker 1: the for the Legos Airport alone is more than the
Speaker 1: total not even more than times to the total bullet
Speaker 1: of transportation and aviation. If you combine them and multiply
Speaker 1: them by two, it's not up to what were are
Speaker 1: locating for the Legos Airport alone. I'm not talking about
Speaker 1: road zo or railways or port. This is just the
Speaker 1: Legos Airport allegations.
Speaker 4: There's no other aspects in the budget.
Speaker 1: I've just told you where the MOE is coming from, Sir.
Speaker 1: The money is when they removed subsidy. Go back, guy, guys,
Speaker 1: you can do this. Go back to the first fact statement.
Speaker 1: When we remove subsidy. You will see that the President
Speaker 1: says we're going to take money from this renewed from
Speaker 1: the increase in revenues, and it's going to go to
Speaker 1: the infrastructure fund. Is this fund they have now called
Speaker 1: the Renewed Hope Fund. The money is from the removal
Speaker 1: of subsidies like a PTF. But when they did this PF,
Speaker 1: this is not approved by NAS and the President alone
Speaker 1: is won and child this PTF. That's where I'm giving
Speaker 1: you the data. There is no there's no allocation from
Speaker 1: NAS for this. It's money has come a subsidy. Money
Speaker 1: is federation money, not federal, not state, not local, Federation money.
Speaker 1: So in essense, you've taken federation money, given it to
Speaker 1: the president, and the president is taking their money and
Speaker 1: are locating, as he deems, even taking that money to
Speaker 1: give to a state, because we're now using that money
Speaker 1: to also do legal state light rail. Get your point
Speaker 1: about the private sector phones, but they haven't come in yet.
Speaker 1: The prejudor's accident is able to borrow him twenty one billion. Okay,
Speaker 1: I'm actually give me give me your own answer. Give
Speaker 1: give me where the money is coming from. Since money
Speaker 1: is wrong, give me where your where you think it's
Speaker 1: coming from. Give me yours. Have we borrowed the money?
Speaker 1: If you go to d m O you see burrowed
Speaker 1: money from. Where else is the money coming from?
Speaker 3: Tell me.
Speaker 25: What I heard is that insurance companies, pension funes.
Speaker 1: We already do that den sound when and when the government.
Speaker 25: Is giving that phone from it has been appropriated in
Speaker 25: the budgets.
Speaker 4: Sometimes that budget is confusing. I know the budgets in
Speaker 4: the budget that may be outside that ivia that idition.
Speaker 25: They're talking about some aspects in the budget that maybe
Speaker 25: outside the appropriated it on that something side that I remember,
Speaker 25: I saw almost almost six billion in that day in
Speaker 25: that budget that was.
Speaker 4: Allocated to one road.
Speaker 25: That is they not finally explained to me someone that
Speaker 25: explained to me that that money that located there is
Speaker 25: actually part of the money that they raised for.
Speaker 3: Phase one of the.
Speaker 25: Of the what they call the Legals to Calabar road,
Speaker 25: they're actually appropriated and the roads legos to put that called.
Speaker 25: They didn't write Legals to Calabadi in the in the projects.
Speaker 25: So I think in that budget there's some appropriations that
Speaker 25: they made that are not explicitly riatting. So you need
Speaker 25: to actually sort of come to it and ask questions
Speaker 25: before you not actually knew that this is actually what
Speaker 25: they did.
Speaker 1: I think I find it how to believe calor.
Speaker 4: I find you how to build that the Federation of
Speaker 4: the Federal governments, who gives you you needed first travel
Speaker 4: the dogment.
Speaker 25: From a location without oversights from the without appropriation you understand.
Speaker 1: From then you are making my point. That's what we're
Speaker 1: having this space today. Let me again summarize for you
Speaker 1: again what I'm saying. I've told you where to go
Speaker 1: and get the information from. Go to the first fac
Speaker 1: statements when we removed subsidy present both going too power
Speaker 1: he removed subsidy. Immediately look at the next subsidy statement
Speaker 1: immediately after subsidy remove. You will see there fifty percent
Speaker 1: of the revenues the excess. The excess, not the normal fuck.
Speaker 1: The excess fund was taken from the removal of subsidies
Speaker 1: funds and paying into an infrastructure fund. It's there in
Speaker 1: the fact statement that it is that instal phone. That
Speaker 1: is the renewed hope in phone. Please go ahead check
Speaker 1: that's what I'm king number one, number two. When we
Speaker 1: borrow money from pension phones, those are the federal government
Speaker 1: bonds that we're already issued. It's not this fund. That's
Speaker 1: the federal government bonds and TVs that the pension funds
Speaker 1: can invest in. Pension ponds just can't take money and
Speaker 1: put in in any fund. Doesn't work that way. You
Speaker 1: have to have a securitized pag hold hold on Ben
Speaker 1: ben hold hold Ben please ben hold On Ben hold On.
Speaker 1: You have to have if you want to invest as
Speaker 1: a pension phone, you have to have a securitized paper
Speaker 1: that is rated then you invest. Is there any real
Speaker 1: renewed hope infrastructure fund paper that you see on the market.
Speaker 1: All the pension phones that invest they invest on bonds
Speaker 1: that are listed. It has to be securitized, listed rated.
Speaker 1: Is then any renewed hope your phone bond out?
Speaker 3: There is none?
Speaker 4: So okay, let's free to invest as they choose.
Speaker 1: They cannot invest as they choose, mister Ben. If they
Speaker 1: want to invest in a bond, the bond has got
Speaker 1: to be rated. It's got to be issued.
Speaker 4: I want to invest in the bond. If they won't.
Speaker 4: You just said if.
Speaker 1: If means Ben listen to me again, Ben, listen to
Speaker 1: me again. The Nigerian pension phone has gonna investment guideline.
Speaker 1: If the pension fund administrator seeks to invest in the
Speaker 1: federal government bond, that federalment bond has got to be
Speaker 1: issued issued. If it's a private sector bond has got
Speaker 1: to be issued rated, then there are limits to with
Speaker 1: the pension funds five percent, one hundred percent, they will
Speaker 1: put limits on it. You know there is there is
Speaker 1: there any renewed hope bond you know of in the
Speaker 1: market today?
Speaker 25: Why are you making about what de pensions depension for
Speaker 25: most investing equities?
Speaker 1: Are there any new funds equities you know about today?
Speaker 3: Sorry?
Speaker 1: It is there renewed renewed infrastrual fund equity that you
Speaker 1: know about today.
Speaker 4: The point I'm trying to make here is and just
Speaker 4: make them just make this point, and then just make
Speaker 4: this point.
Speaker 25: The pension fund has the prerogative to look at various
Speaker 25: asset classes and choose which asset class they want to
Speaker 25: invest in it.
Speaker 1: It doesn't have to be borne and I did not
Speaker 1: restrict I did not restrict anything to any asset class.
Speaker 1: Federal government. They can invest a one hundred percent in
Speaker 1: federal government bonds. In equities. There are four pension funds
Speaker 1: that invest Each fund has its own asset allocation. Federal
Speaker 1: goverment has one hundred percent allocation. You can invest one
Speaker 1: hundred percent if you want in federgment bonds. Thing is
Speaker 1: maximum twenty fight like you keep interrupting, You keep interrupting,
Speaker 1: and the federal the equities is more. I think it's
Speaker 1: twenty five percent. The point I'm making to you, sir,
Speaker 1: is that there is no renewed hoop equity fund or
Speaker 1: bond funds today in the market. There is none, so
Speaker 1: they could not have been issued and invested by any
Speaker 1: pension fun company. I've already told where the money is
Speaker 1: coming from. I've told you exactly where it's coming from
Speaker 1: is the real It is the revenues that came from
Speaker 1: the removal of your suftiday. That's this money. The fund exists,
Speaker 1: but we have not just stay issuing and borrowing into
Speaker 1: the fund. That's what the president is asking for twenty
Speaker 1: one billion. That's where the one is going to come
Speaker 1: from that will replenish the fund. We haven't started that yet.
Speaker 1: Just to me declared the books. Listening you say, Carlo,
Speaker 1: Carlo is what I'm saying. Okay, look from Okay, let's
Speaker 1: that's fine, Let's move. How are you doing? Please hop
Speaker 1: in Elma, mister mister, thanks you I can please go ahead?
Speaker 3: Thanks very much.
Speaker 4: I appreciate.
Speaker 1: Your audio is very very bad. Your audio is very bad.
Speaker 1: I'm not sure what's wrong with it? Can you can
Speaker 1: you think that?
Speaker 3: Well?
Speaker 1: I get somebody else in here your audience still let
Speaker 1: me get I Can I help you in real quick?
Speaker 1: I can I help you real quick?
Speaker 3: Can I can?
Speaker 1: I still want.
Speaker 3: Lulu? Lulu?
Speaker 1: How are you doing? Lulu? Thanks for helping Lulu? Are
Speaker 1: you are you interested in kind of topics? I thought
Speaker 1: you were a bitcoin man.
Speaker 3: I'm gonna be going mind.
Speaker 4: But at the same time, I'm still interested in.
Speaker 1: Just pulling a lego. Gotcha, how are you doing?
Speaker 3: So?
Speaker 1: What's up? What I mean, look at what we're talking about.
Speaker 1: Two things here actually, Number one, if we should do it,
Speaker 1: infrastructure acquinted for that character number one. Number two again
Speaker 1: talking if the president has the right to do this
Speaker 1: in this spend that that we're talking about, we think
Speaker 1: it is lopsided to leg us what you're taking all this?
Speaker 3: Okay, well I'll first start that with the with the
Speaker 3: premise that.
Speaker 26: You can't convince someone that is committed to misunderstand the
Speaker 26: you in this country, we're saying where presidents spent moneys
Speaker 26: without appropriation.
Speaker 3: I'm talking about the last government. It's not new. It
Speaker 3: has been happening.
Speaker 26: Okay, someone printed money out of thin spent it, and
Speaker 26: later at the end of the Attennee, they came to
Speaker 26: legalize the illegality.
Speaker 1: You're right, you're right.
Speaker 26: Yeah, it's not the first time it's happening. So I'm
Speaker 26: wondering why Ben is being at the man. That's if
Speaker 26: it's a new thing, it happens.
Speaker 25: That's abusing the cbing ads still goes through appropriation.
Speaker 4: They are just abused the arts.
Speaker 25: They will abuse the Act and still use it to
Speaker 25: finance the budget and all that. So don't let's be
Speaker 25: technolog like like I said, Google like spend understand you know.
Speaker 26: Well anyways, then let me get to the main topics
Speaker 26: real quick.
Speaker 3: So what I want to bring in some historical.
Speaker 26: Perspectives to this okay, preceivable war and I want to
Speaker 26: focus specifically on the port. Pre civil war, we had
Speaker 26: about five functional ports Legospapa, portter Cord, Worry.
Speaker 4: Calabar and Burutu.
Speaker 26: These Eastern ports were used for exporting mostly raw materials,
Speaker 26: palm oil and cool out of Nigeria, especially from the
Speaker 26: East and the Middle Belt. Now, during the civil war,
Speaker 26: what happened in nineteen sixty seven when the Afredic lared independence,
Speaker 26: the federal government blocked all eastern ports including portal called
Speaker 26: Kalaba and all the others that I just needed and
Speaker 26: the Eastern region lost access to its port. All what time,
Speaker 26: important exports for the federation.
Speaker 3: Were directly bill shipped from Legos and nearby port.
Speaker 26: After the war, what happened the federal government prioritized rebuilding,
Speaker 26: just legal legal sports and expanding a perparent thinker to
Speaker 26: handle the new.
Speaker 3: You know, new Nigeria.
Speaker 4: As it were a post war.
Speaker 26: And the Eastern point ports received little or no investments
Speaker 26: until their facilities became outdated, and after this Legos was
Speaker 26: c vented. As as the all contested train help well,
Speaker 26: you might say that successive governments feared that over investing
Speaker 26: in Eastern ports could give the region too much autonomy
Speaker 26: or power as it were, and keeping major trade routes
Speaker 26: are dependent on Legos the way, you know, they tried
Speaker 26: to centralize the whole thing around Legos.
Speaker 3: So in my own point of view.
Speaker 26: You cannot talk about federal character and the sharing from
Speaker 26: like distribute today without going through the historical path badfields,
Speaker 26: and this is what has shipped investments in you know,
Speaker 26: all that regions.
Speaker 3: And unfortunately centralizing.
Speaker 26: The government and economy, economies and infrastructure, you know, mixed
Speaker 26: for you know, an inefficient governance structure and group. And
Speaker 26: that's why people like me and others have been calling
Speaker 26: for the.
Speaker 4: Centralized next Yeria.
Speaker 1: Okay, okay, no, look, look I want to stay on focus.
Speaker 4: Man.
Speaker 1: I hear you bounce. Still on focus. We're talking infrastructure.
Speaker 3: Fact.
Speaker 1: I hear what you're saying in the historic club is fine.
Speaker 1: Still on that Marroy Lane. If you start talking about
Speaker 1: that one. I don't know that's still on Marrow Lane
Speaker 1: very narrowly. Bona stay there.
Speaker 3: Yeah.
Speaker 26: So for infrastructure, the principle still remains. You know when
Speaker 26: you when you spend across board infrastructure, you know, you
Speaker 26: say centralize the economy, things work more efficiently.
Speaker 3: That's it's just a principle.
Speaker 26: Just like semiconductors and the semiconductors you see that chips
Speaker 26: microchips are getting smaller. Why because there there there dream
Speaker 26: computation in parallel, you understand.
Speaker 3: So before you have a locre, you have you have
Speaker 3: triple or you understand.
Speaker 4: So you know, you know, making.
Speaker 26: Computing parallel makes things more efficient. So if we decentralize,
Speaker 26: you know, spending across board, you know, you you you
Speaker 26: put infrastructure in all these zoons, you prioritize, you don't
Speaker 26: just concentrate on one zone of course, you see, you know,
Speaker 26: better growth across board in general.
Speaker 3: You know.
Speaker 26: And for me in Loness, the idea as far as
Speaker 26: I hate federal characters as as a person actually in
Speaker 26: the law character whatever, but you know, the principle of
Speaker 26: the centralization is feel something that we should imbibe in
Speaker 26: our governance system. The centralized power, the centralized spending. You know,
Speaker 26: and you know you have being more efficient economy in
Speaker 26: my own perspective.
Speaker 1: Understood, Yeah, totally understand.
Speaker 3: Let me let me.
Speaker 1: I'm going to share this just because of the conversation
Speaker 1: I had with it with the other guests. Then. So
Speaker 1: if you look at the date is July. If you
Speaker 1: look at the July, the federal government establishes Infrastructure Support
Speaker 1: Fund forty six states as far revenue rises, that's the
Speaker 1: date July. If you can look at the July twenty
Speaker 1: twenty three, President Tubu has approved the creation of an
Speaker 1: Infrastructure Support Fund for the stety sic States of the Federation.
Speaker 1: And this was when FAK was increased to one point
Speaker 1: nine trillion. One point nine trillion. The new and I'm
Speaker 1: quoting the new infrastructure fund will enable the states to
Speaker 1: intervene and invest in critical areas of transportation, agriculture, healthcare, education,
Speaker 1: blah blah, blah blah. I'm gonna share it on my
Speaker 1: on my Twitter feed just so you guys get the
Speaker 1: point is, this is the genesis of that we got
Speaker 1: one point nine trillion when we removed fuel subsidy in
Speaker 1: July twenty twenty three. This is the seed funding for
Speaker 1: this renewed hope. Now I'm not saying this is the
Speaker 1: renewed hope. It is this is the main funding for
Speaker 1: that renewed hope. They've been taking moneys out of park
Speaker 1: and sort of ring fencing it, and that's those ringfast
Speaker 1: funds is what has now been used for these investments.
Speaker 1: Because you can notice these investments in this font are
Speaker 1: even more than the budgetary allocation. So I'm gonna share
Speaker 1: to my Twitter feed again this is not the renewed
Speaker 1: Hoop fund. This is the point I'm making it that
Speaker 1: you are ring fencing. They are removing funds from fark
Speaker 1: ring fencing it to then spend on projects. And I'm
Speaker 1: going to feed let's get what's its trip.
Speaker 4: Wait to share it to but you know that.
Speaker 1: Share truly, if.
Speaker 25: The Federation Committee decides that we should save up some
Speaker 25: money and put into this fund and use it for
Speaker 25: something that there's nothing wrong with that by law, Like.
Speaker 1: I said, and I quote again the federal government on
Speaker 1: their own, there is no law that passed this infrastructure fund,
Speaker 1: the federal government. Let's let me speak, if if I
Speaker 1: if I could speak without being interrupted, if I could speak,
Speaker 1: if I some money to be clear if I could
Speaker 1: speak without being interrupted. The federal government decided on their
Speaker 1: own to create an infrastructure fund from the revenues that
Speaker 1: went to fuck. This is what I was trying to say.
Speaker 1: The federal government created an infrastructure fund from the revenues
Speaker 1: that we're going to fuck. And I'm going to shad
Speaker 1: on the Twitter feed right now. I've just posted it,
Speaker 1: so you can go ahead and read it there July
Speaker 1: twenty twenty three. Truly logo, How are you doing, sir,
Speaker 1: Tree Logo, You've got the floor. Please go ahead, Truly
Speaker 1: can look.
Speaker 4: And I quickly speak on this thing you just said.
Speaker 1: I've just shared it. Why don't you read it and
Speaker 1: then you can come back and read what I said.
Speaker 4: So you made a statement, Maybe just comment on the statements.
Speaker 4: You made a statement.
Speaker 25: You said the federal gold Means started an infrastructure fund,
Speaker 25: and they decided to take money from the Federal.
Speaker 4: Location the Federation and Location Committee. Now the question is
Speaker 4: going to.
Speaker 18: Ask in the Federition and Location Committee that money that
Speaker 18: they took is it from their share or is it
Speaker 18: from the share of the states the entire fedition, which
Speaker 18: is the state goverment and local goment. If it's from
Speaker 18: the federal goverment share of the fact money, then it
Speaker 18: is deferrable means money that they took and put on
Speaker 18: the fond.
Speaker 8: If it's defederation share, it means that the Federation.
Speaker 4: Meets the states.
Speaker 25: And you look how God means in conjunction with the
Speaker 25: Ferra goldmin all agreed to take out a separate an amount.
Speaker 4: And put in the Renewed Hope Infrastructural Fund. There is
Speaker 4: nothing wrong with that by law.
Speaker 3: Thank you coordination.
Speaker 1: Again again, while we're talking about this, i will making
Speaker 1: a point at the Renewed Hope Fund scantting. This money
Speaker 1: is from fuel subsidiar removal, and I'm saying this is
Speaker 1: the genesis of that Renewed Hope Fund. Again, I'm not
Speaker 1: saying we need Hope Fund is infrastructure fund. I'm saying
Speaker 1: this money you are seeing is coming from the removal
Speaker 1: of fuel subsidy. And if you read what I posted,
Speaker 1: you would see there on behalf of the testy six states.
Speaker 1: Fuck is federation not federal. The federal government on their
Speaker 1: own said they are saving money in an infrastructure fund,
Speaker 1: about seven hundred and one billions. What is saved from
Speaker 1: one point ninety two points and put there. It's I
Speaker 1: shed it up literally is from Dieimetric. Really there and
Speaker 1: they saved it and it's there, they said for thirty
Speaker 1: six states, the committee has resolved and quoting to save
Speaker 1: a portion of the monthly distributed proceeds. So here again,
Speaker 1: the committee has resolved to cy why do you why
Speaker 1: do you keep on? Why do you keep on interrupting?
Speaker 1: Why do you keep going on?
Speaker 3: You know, you know, you know, you know.
Speaker 1: If I remove you, it looks like federation.
Speaker 4: It's not just federal government. It is the state, the
Speaker 4: local and the federal level. That is what you're artically saying,
Speaker 4: and that is what I'm also saying. So your at
Speaker 4: corregorates my points.
Speaker 1: Thank you truly. Go ahead, go ahead, I can hear it.
Speaker 4: Okay, hello everyone on the space.
Speaker 24: I'd like to greet everyone according to their time zones,
Speaker 24: but please pervct me to just use the colloquial grating
Speaker 24: of heaven and welcome to this space.
Speaker 4: You did a great job, Calum.
Speaker 24: I really commend you for hosting this space. But most truly,
Speaker 24: it's not just about hosting the space. It's about your
Speaker 24: composure as well as your ability to moderate this space effectively.
Speaker 24: We've had some quite disruptive characters and persons who do
Speaker 24: not want to listen but feel the speaking on the
Speaker 24: top of their voice would make sure that their points
Speaker 24: are heard. Whereas they aren't contributing to knowledge neither adding
Speaker 24: presenting alternative facts from credible sources that each person on
Speaker 24: this call or this space can reference to as well
Speaker 24: as improve their knowledge. Or rather, they are being conjective
Speaker 24: and interjective. It baffles me that this is a very
Speaker 24: common paracter with some Nigerians.
Speaker 3: This is a space for intellectuals.
Speaker 4: I'm not going to reply you don't stop.
Speaker 1: Ben, I'll take you off.
Speaker 4: Ben.
Speaker 1: If I take you off the space, you.
Speaker 4: Should stop talking about me. Why is it talking about
Speaker 4: many topic of this space?
Speaker 1: All right, let's continue, So just go on with your comment.
Speaker 3: Please just go on.
Speaker 1: And before you go on, guys, I don't want to
Speaker 1: go this back and forth. And the reason why I'm
Speaker 1: stressing this is because this goes central to the point
Speaker 1: of the host space. I've now shared a portion of
Speaker 1: the federal government's own quote. Look at it, what they're
Speaker 1: saying and I quote. The Federal government therefore decided to
Speaker 1: save a portion of it, which it hopes will constitute
Speaker 1: funds for the if of the tests six days of
Speaker 1: the federation. Again, I'm going to share it on Twitter.
Speaker 1: You can argue back and forth all like, remember what
Speaker 1: again a few minutes ago that this did not exist? Again,
Speaker 1: I was monic from pension fund. Now I've shown proof.
Speaker 1: Now again it's not federation, it's federal. It's right here.
Speaker 1: I'm going to shad but please go just stray to
Speaker 1: your own point. Loogle, let's us go to your point.
Speaker 3: That's go on, Yeah, go ahead, thank you, thank you
Speaker 3: so much.
Speaker 24: So I'd like to create the indulgence of everyone the
Speaker 24: educative and informative space.
Speaker 4: Please, if you have the privilege to.
Speaker 24: Speak, educate and inform us, let us make reference to
Speaker 24: sources and let us speak from the sources.
Speaker 4: So we can also learn and we could also come back.
Speaker 24: To ask you questions if we find something that is
Speaker 24: a bit off and contribute to whatever point you have made.
Speaker 24: Let's not be on the on the money or the
Speaker 24: person's knowledge and research when we have nothing to offer.
Speaker 4: So let's value the privilege we have to speak so
Speaker 4: others can benefit from us.
Speaker 24: Regarding this talk about infrastruct infrastructure spending and federal character.
Speaker 24: It's quite funny here because I know it grew up
Speaker 24: in a time where my great grandma were part of
Speaker 24: the people who benefited from the ports down in Worry.
Speaker 24: This set of women were known as the Hebrew Women.
Speaker 24: I don't know if you know about the story about
Speaker 24: the Hebrew women.
Speaker 4: Calu it help us out, please, Okay.
Speaker 24: These are the women that first went into the whole
Speaker 24: sale of fish, ice, fish, importation of different kinds of
Speaker 24: fish through the Ibrew family because it was a big
Speaker 24: shipping business that they had before they eventually branched off
Speaker 24: into the banking industry.
Speaker 4: And then we had the ports at the east, which was.
Speaker 24: Solely into importation, Coco exportation and all blacks when it
Speaker 24: comes to infrastructure. When it comes to infrastructure, the government
Speaker 24: makes the policies and creates the framework true and then
Speaker 24: private individuals or polls of resources from foreign companies come
Speaker 24: together to implement the policies of the government.
Speaker 4: What do I mean.
Speaker 24: Take a very good example of the three airports we
Speaker 24: have along with the Tri State air I'm sure, Carlu
Speaker 24: you're very family of the Tri State air We talk
Speaker 24: about New York, New Jersey and Connecticut. In the nineteen seventies.
Speaker 24: Do you remember the story of how these airports were
Speaker 24: not functioning and how they were almost run to the ground,
Speaker 24: including the popular JFK that we know today as well
Speaker 24: as the new one in New Jersey even open to recently.
Speaker 4: But the government had policies in place, but they did
Speaker 4: not have the money to execute.
Speaker 1: What happened.
Speaker 24: They created an open room for private investment funds to
Speaker 24: come into these efports to improve the infrastructure, and these
Speaker 24: are one of the busiest eirports that we have in
Speaker 24: the Tristate area as well as take a look at
Speaker 24: the ports of Virginia as well as the port of
Speaker 24: Los Angeles.
Speaker 3: Why am I.
Speaker 4: Making this point?
Speaker 24: As a country, we have come a long way and
Speaker 24: we have decided that for equity that federal character is
Speaker 24: one of the ways to go. A federal character has
Speaker 24: its flaws. However, these flaws are magnified by selfish interests
Speaker 24: of people in the corridors of power, and we see
Speaker 24: it to play out every single day and every single time.
Speaker 24: Is federial character in itself bad?
Speaker 3: No do?
Speaker 24: In my personal opinion, I feel it has outlived its purpose. Well,
Speaker 24: something is still critically lacking, which is what got mental
Speaker 24: policies in place for private sector players to come in,
Speaker 24: invest and build these infrastructures. If Legos has three ports,
Speaker 24: as we all know, and not just the pots, we're
Speaker 24: not just talking about the ports now, we're talking about
Speaker 24: other infrastructures that supports the ports, the road networking as
Speaker 24: well as train for serious countries, because there's hardly any
Speaker 24: ports that doesn't have a train nearby for moving setting
Speaker 24: types of products or goods and services across the length
Speaker 24: and breadth of the country, because some of these products
Speaker 24: are not supposed to go on road due to the
Speaker 24: nature of this product. Legers over time in the last
Speaker 24: during the Warrior administration.
Speaker 1: But truly, look at I'm gonna culture if I just
Speaker 1: don't get to get a few points from you if
Speaker 1: you don't mind, right, So are you saying, are you
Speaker 1: for federal character for shae of infrastructure?
Speaker 3: Are you for that?
Speaker 1: As it is?
Speaker 24: We have it in our constitution and unless it is expunged,
Speaker 24: we just have to make do of it.
Speaker 4: I'm not for it personally. I believe it has outlived its.
Speaker 24: Purpose, and when it comes to infrastructure, infrastructure situation and development,
Speaker 24: I feel it has outlived its purpose.
Speaker 4: But for the meter fact that we still have it,
Speaker 4: we could make better use of it.
Speaker 1: Okay, exactly, got you understood. So second point, do you
Speaker 1: think there's a there's a bias in where investments being cited?
Speaker 1: Do you think it's even handed? Do you believe that
Speaker 1: even if there's a bias, is that bias is because
Speaker 1: legos is the commercial capital. Hence we have to invest
Speaker 1: in the commercial capital to create revenues to then invest
Speaker 1: in the non commercial states. What I mean is this,
Speaker 1: people are saying, we're investing legal sports. Okay, well, legal
Speaker 1: sport is the commercial port. So if we invest in legals,
Speaker 1: we get the revenues and those of us then go
Speaker 1: to the quote unquote non commercial points. Is that a
Speaker 1: good argument?
Speaker 4: That is a very poor argument, low imates lo.
Speaker 24: It might hold this ground on some points, but that
Speaker 24: is a very poor argument, and its short sighted argument
Speaker 24: is a blind argument.
Speaker 4: So earlier, while I was listening, I heard someone say.
Speaker 24: That Ford made cars before the other roads, and I
Speaker 24: sat down here, I was laughing at myself. Americans had
Speaker 24: paved roads, some were tired, some were on tired, but
Speaker 24: these roads were paved and smooth. Those cars ran on
Speaker 24: these on tired roads before the advent of power and tire.
Speaker 4: These roads and infrastructures were there.
Speaker 24: Now because of this road and infrastructures, development and technology
Speaker 24: came to meet it and it's kept expanding for casting
Speaker 24: and projecting.
Speaker 4: For the future.
Speaker 24: Why did Legos become the commercial hub that we have
Speaker 24: it today or we are all referring to it as
Speaker 24: a commercial hub? You yourself Calu has stated clearly as
Speaker 24: well as the last speaker I'm trying to recall his name, Lulu.
Speaker 24: Due to the civil war or concentration by government, policies
Speaker 24: and by design were centered in Legos. Now, the question
Speaker 24: I put to you is this in the last thirty
Speaker 24: years to do what can we say or can we
Speaker 24: hold and say? This is a development of the commercialization
Speaker 24: of the key ports in Legos.
Speaker 1: I mean, can you can you can make money? Let
Speaker 1: me let me, let me make the argument.
Speaker 3: For legal parts.
Speaker 4: Why is the ports not generating money?
Speaker 24: And where are those private investment funds that are supposed
Speaker 24: to be driving legal sports while we look at developing
Speaker 24: other parts with federation.
Speaker 1: Okay, let me make Let me make the agrement for Legos.
Speaker 1: Legos ont let me make that argument for Legos. If
Speaker 1: you don't mind. Lego States got the ports because they
Speaker 1: have the market. They were able to attract investors for
Speaker 1: the deep sea port. You know what the deep sea
Speaker 1: port is the big ships go to the sea or flow.
Speaker 1: Then it's moved to Legos ports. So you can have
Speaker 1: a deep sea port where lead no market. So Legos
Speaker 1: did because they were able to attract the market in Nigeria.
Speaker 1: To Legos, they were able to attract the investors. But
Speaker 1: deep Syport was built by private investors. They didn't go
Speaker 1: and build that private investment in acquired bomb that has
Speaker 1: a natural deep sea harbor. They building in Legos. So
Speaker 1: it's sort of like al why because the marketing legal it's.
Speaker 4: Not just about market, it's about policies.
Speaker 24: Okay, if we're talking about market plum right now, why
Speaker 24: is it port situated in Virginia?
Speaker 1: America? Is America does the spread?
Speaker 3: Right?
Speaker 1: There's New York on that part when Atlantic coast, there's
Speaker 1: also lost Los Angelists. They have inland ports. They don't
Speaker 1: do federal character right, they do mostly private but but
Speaker 1: but the railways were built by the government in the
Speaker 1: un that is they give the land to the private
Speaker 1: gas and said if you build a railway it's your land.
Speaker 3: So so that is that way.
Speaker 1: So that's my tech question to you. Yeah, So what
Speaker 1: you're saying is that if I understand what you're saying,
Speaker 1: you are saying that you want the legos in quote
Speaker 1: the commercial stities, the legos of the rivers, the Abuja
Speaker 1: to more or less focus on getting the private capital,
Speaker 1: and you wanted the Federation for to then go to
Speaker 1: the states that are not yet buoyant commercially. Is that
Speaker 1: a summary of what you're saying.
Speaker 24: Now, what makes a location buoyant commercially? Policies, intentional developmental policies,
Speaker 24: and why would you have a natural deep sea port
Speaker 24: access to the south to decongest a port in acquirebomb
Speaker 24: and in worry And there are no governmental policies to
Speaker 24: develop ports that can handle that could breath large cargoes.
Speaker 4: Okay, you don't want to breath large large cargoes? Are
Speaker 4: those ports? How about shadow cargos?
Speaker 24: The policies are not there and the government is not
Speaker 24: interested in formulating those policies to enable these other ports function.
Speaker 4: So it's not about the it's not about the funds.
Speaker 24: If the policies there and the government is strategic the
Speaker 24: funds will come.
Speaker 1: Understood, All right, understood, that's fine. I just want to
Speaker 1: get that, just to get us on that, on that mindset.
Speaker 1: That's fine. Regenerative, I know you've been reading. Do you
Speaker 1: happen to comment? Regenerative, I've been.
Speaker 3: I haven't lost Calo, and I think I.
Speaker 1: Go go for it, go for I haven't seeing the
Speaker 1: hand up and the top guy you are spoken, go ahead.
Speaker 4: So yeah, yeah, I just make a contribution.
Speaker 3: But I think right now I want to go on
Speaker 3: through disclosure. So let me first.
Speaker 14: Ataday is a woman from Australia that made some useless
Speaker 14: for my language.
Speaker 4: Please yeah, sorry.
Speaker 14: Sorry for using that, but I'm paid as an Enginian youth.
Speaker 14: G lit song caming up even my hands was I've
Speaker 14: once living in the Natia and you guys can believe
Speaker 14: fat checking everything I'm going to say to you know,
Speaker 14: is it two or is it two?
Speaker 3: Under than eighteen million populations