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Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors - Investment (6) - Nairaland

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Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by zoomman(m): 10:24pm On Nov 20, 2018
JasonScoolari:
Our Permanent Voters Card will end this embarrassment once and for all.



Always remember that, "Weeping may endure in the lifeless one administration, but Joy comes when Atiku is declared the winner"

Vote PDP
Vote Atiku Abubakar.
Dont be fooled; ur pvc might not count come next year.....it will only take d special grace of God to weather the upcoming storm......
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by tammie24: 10:28pm On Nov 20, 2018
NaijaMutant:
This is how low Nigeria has sunk under the leadership of a cow herder undecided


The world now sees us as a joke

To imagine that some dolts with pseudo intelligence are still urging the dullard to continue is just the highest form of insanity.

Dear President Atiku kindly earmark some Nigerians to be sold alongside NNPC

Combating large scale foolishness should form part of your agenda henceforth undecided
Dear President Atiku kindly earmark some Nigerians to be sold alongside NNPC

This got me rolling on the floor cheesy

Walahi you no be better person grin

1 Like

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by onez: 10:35pm On Nov 20, 2018
This is one out of many. I can tell you in confidence that a lot of investors are waiting for the outcome of election to make their decision. I can assure you that the current hardship will be a child's play if Mr Buhari is re-elected.
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by Billionaire09: 10:36pm On Nov 20, 2018
seunmsg:


I used to think you are one of the few sensible ipob wailers but I was wrong. So, if you are the president of Nigeria, you will pay one useless UK company with no history of contributing anything to Nigeria a compensation of $9billion? How much is even Nigeria's annual budget that you think we can afford to pay one company $9billion simply because the immediate past PDP government cancelled a contractual agreement? See, opposition is not madness. We are still Nigerians and our country should always come first no matter what. This is not about Buhari but Nigeria.

Go and say that to your elites.

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by DonnyT: 10:36pm On Nov 20, 2018
International court are meant to oppress developing countries around the world. Where is international court system of justice on Tony Blair and Bush on the atrocities committed in Iraq and all around the world? What happen to international companies and countries polluting African water territory? and many more... People wake up! Don’t let the hate for the president blindfold you from the reality of how this western world keep looting your country dry.

3 Likes

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by eneyoduke(m): 10:49pm On Nov 20, 2018
Imagine what Jibrin is doing to Nigeria
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by PStacks(m): 10:55pm On Nov 20, 2018
These are the paid international commentators they were warning about.

thank God I spotted this quick.

1 Like

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by Xano(m): 10:55pm On Nov 20, 2018
interesting
This op-ed is an indictment on PMB administration
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by Quorax: 11:15pm On Nov 20, 2018
courage89:
This lady wrote an article about a contract signed in 2010. What happened to the execution of the agreement within the first 4 years when PDP was still in power? Why was the contract not honored in the 1st 4 years?

The agreement was for setting up gas processing plant facility. What exactly has the company done in terms of execution; Front End Enginnering Design (FEED), Engineering, Procurement and Construction?

My submission is tha there is something fishy about the contract
I didn't see 2010 in everything written there.

1 Like

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by maestroferddi: 11:21pm On Nov 20, 2018
seunmsg:


I used to think you are one of the few sensible ipob wailers but I was wrong. So, if you are the president of Nigeria, you will pay one useless UK company with no history of contributing anything to Nigeria a compensation of $9billion? How much is even Nigeria's annual budget that you think we can afford to pay one company $9billion simply because the immediate past PDP government cancelled a contractual agreement? See, opposition is not madness. We are still Nigerians and our country should always come first no matter what. This is not about Buhari but Nigeria.
You are not thinking. ..that should not be an insult to a Buhari/APC supporter...

What happened to challenging/appealing the verdict of the ruling against Nigeria?

Was the pronouncement a fait accompli?

BTW, when did snubbing/disregarding a court ruling become a legitimate/standard course of action moreso internationally politics, diplomacy and politics?

We will not allow agents of denudation like you to sink Nigeria.deeper than the level you have sunk her...
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by victorypeace: 11:21pm On Nov 20, 2018
Who is Patel.
This foolish woman that shamefully resigned from the Govt in UK for stupidity. she is slowpoke. she has no say in United kingdom.

1 Like 1 Share

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by victorypeace: 11:27pm On Nov 20, 2018
Nigeria is still in slavery. Every time a foreigner say something about Nigeria even if its a mad man. Nigeria accept it. Who is Patel by the way? Did she has any say in United Kingdom. This is a foolish woman who said all migrants crossing to Europe should not be allowed and be turn back. She does not like African a bit.

1 Like

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by AbidemiAy(m): 11:41pm On Nov 20, 2018
I think the interest of our dear Nation should come first. I decided to Google the name of the lady in question and found out about Nigeria government response to her rants.
Also to note that the case she sighted contract was reneged by previous admnistration NOT the present administration.
We may see response below

https://www.vanguardngr.com/2018/11/presidency-says-former-intl-devt-scribe-goofed-on-buharis-anti-corruption-fight/

1 Like

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by Optional09: 11:44pm On Nov 20, 2018
onegig:


You guys are gullible.

So because one so called foreigner wrote an article. It must all be true.

Can you imagine an Irish company not heard of before claiming $9bn as damages. How much does Nigeria make?

I am not privy to the details of the contract but I won't be suprised if they signed the contract and it was very unfair to the country after they had greased the hands of politicians back then a la Halliburton and Malabu. Yeah, you don't renege on agreements but not agreements where your country is sold into slavery because few people gained a few million dollars.

To hell with her op-ed. The article seems more like someone with a personal vendetta and not one written with a clear conscience. She did not give facts about the contracts nor the full details of what the country stands to gain.We should be asking the UK minister, what's his/her benefits from this? No be today them don sign useless contracts to loot Africans dry. When we have clueless presidents then it would be fine.

Bleep you! You can go lick Buhari’s but I don’t give Bleep
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by Antichristus: 11:45pm On Nov 20, 2018




VOTE SOWORE AS PRESIDENT OF NIGERIA IN 2019

1 Like

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by Ibime(m): 11:49pm On Nov 20, 2018
Anyone interested in the case should read up here:

https://www.grantthornton.co.uk/insights/quantum-matters--record-usd6.6bn-award-against-nigeria/

In summary, the clueless Fortunato Goodluck and Diezani signed an agreement to pipeline wetgas to P&ID in 2010. By 2013, Nigeria had failed to build pipelines to deliver the wetgas and Nigeria was in breach of contract. Good luck initiated and failed the contract. P&ID had spent $40m on their end and sued Nigeria in 2015, for which the judge awarded them $7bln.



INTERNATIONAL ARBITRATION
Quantum matters – Record USD6.6bn award against Nigeria

On 16 March 2018, a BVI-based engineering and project management company sought to enforce in the US a USD6.6 billion award it obtained in January 2017 against Nigeria. This is one of the highest arbitral awards known to date. It shows the importance of the Respondent challenging facts, assumptions and calculations provided by the Claimant and of providing alternative evidence to the Tribunal.

Background
In January 2010, Process and Development Limited (P&ID or the Claimant) and the Ministry of Petroleum Resources of the Federal Republic of Nigeria (Nigeria or the Respondent) entered into a 20-year Gas Supply and Processing Agreement (GSPA). Under this agreement Nigeria would supply Wet Gas to P&ID, who would process it in a newly-built facility and return it in the form of Lean Gas. P&ID could then sell the by-products of the refinement process (natural gas liquids (NGLs) for their own profit.

Nigeria did not make arrangements for the agreed supply of Wet Gas, including building the necessary pipelines. In March 2013, P&ID treated this failure as a repudiation of the GSPA. By that date PI&grin estimated that it had invested USD40 million in the project, although it had not yet acquired the land or built the facilities.

In July 2015, an ad hoc tribunal seated in London decided that Nigeria was liable to damages to P&ID. In a majority decision in January 2017, the tribunal awarded USD6.6 billion in damages to P&ID. The dissenting opinion estimated the loss at USD250 million over three years.


1 Like

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by meobizy(f): 12:12am On Nov 21, 2018
Hmm. Nobody can save this country.
I know a lot of citizens believe Atiku is the person who can change things. It is a lie, under him this country will sink further.
I do not know how we can make things better nor do I believe one person can do it. Any change we need requires a combined effort which the masses are not ready to put together.

1 Like

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by poseidon12: 12:29am On Nov 21, 2018
This man knows tribalist Buhari very well. Buhari is a fraud claiming to be a man of integrity.
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by Nobody: 1:00am On Nov 21, 2018
Sorry, foreigners opinions are shyt to me, I NEVER believed what you said against Jonathan & I will not believe what you say about PMB either.




Take d middle finger pretel

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by KunAviero(m): 1:34am On Nov 21, 2018
Name one country in the world that achieved greatness all by herself
2extremes:
Making Nigeria great is in the hands of Nigerians. We can make it with or without them.
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by LZAA: 1:41am On Nov 21, 2018
bedspread:


My Brother , Some African Nations are taking the bull by the horn!

I know of Tanzania with John Magufuli
The new guy in Ethiopia
same Thing in Mozambique!

Things are not what it's supposed to be in Nigeria..
Rwanda

1 Like 1 Share

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by 0monnak0da: 3:01am On Nov 21, 2018
maestroferddi:
Stop displaying your senselessness for all to see...

Why was this clueless government unable to establish legally that the cited company is shady instead of disobeying a court verdict?

Ogbeni, you need to get a quality education...

You are the one in need of quality education who cannot see the difference between international politics and rule of law.
How many times have the US France or Germany subjected themselves to the jurisdiction of courts in Nigeria or Zambia?
How much did Shell pay in compensation for oil spillage in Nigeria?
How much did Pfizer pay for its drug experiment debacle in Kano.

Powerful countries claim sovereignty and never subject themselves to foreign courts why should we be different.?

2 Likes

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by grandstar(m): 3:02am On Nov 21, 2018
ImperialYoruba:
OP,
Are you sure UK has a Secretary of State? cheesy cheesy

Check yourself before you wreck yourself.

I got this from Wikipedia

"Priti Sushil Patel is a British politician who served as Secretary of State for International Development from 2016 until 2017, and has served as Member of Parliament for Witham in Essex since 2010"

2 Likes

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by beatmonster(m): 3:04am On Nov 21, 2018
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by naijaking1: 3:04am On Nov 21, 2018
bedspread:

Bro Read the Write up well before u React

Don't worry about him. Yoruba muslims causing confusion since 1904.

2 Likes

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by grandstar(m): 3:09am On Nov 21, 2018
courage89:
This lady wrote an article about a contract signed in 2010. What happened to the execution of the agreement within the first 4 years when PDP was still in power? Why was the contract not honored in the 1st 4 years?

The agreement was for setting up gas processing plant facility. What exactly has the company done in terms of execution; Front End Enginnering Design (FEED), Engineering, Procurement and Construction?

My submission is tha there is something fishy about the contract

The case was taken to court or an arbitration as stated in the contract and they were awarded large damages for breach of contract by the Nigerian government

GEJ had negotiated the damages to a little under a $1b and wanted to pay

However, since it was close to the tail end of his administration, he refused to pay as Buhari could term it as a grand scheme by GEJ to swindle the country in his dying hours at Aso Rock

Rather than PMB pay it, he started forming I too know and the rest is history; that is the $9b fine

3 Likes

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by grandstar(m): 3:13am On Nov 21, 2018
seunmsg:


This Patel or whatever she's called must be mad. Why should Nigeria pay the shady company a whopping compensation of $9billion for a 2010 deal that fell through? If the government that signed the agreement and agreed to pay the compensation refused to pay, why should Buhari be forced to pay such a huge amount as compensation? Arrant nonsense. We have billions of our stolen assets in UK that they have refused to return till date. They should show respect to international laws and convention by returning our stolen assets back to us.

A contract is a contract and that is why there are clauses within it to treat breaches to it

No one is going to listen to your argument! If you are not ready to abide by it do not sign it

And if the contract was illegal, why has PMB kept mum about it? Osinbanjo is a lawyer and should know better

5 Likes 1 Share

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by veesion: 3:54am On Nov 21, 2018
courage89:
This lady wrote an article about a contract signed in 2010. What happened to the execution of the agreement within the first 4 years when PDP was still in power? Why was the contract not honored in the 1st 4 years?

The agreement was for setting up gas processing plant facility. What exactly has the company done in terms of execution; Front End Enginnering Design (FEED), Engineering, Procurement and Construction?

My submission is tha there is something fishy about the contract
You and ur father buari are the fish,see ya mouth 'somtin fishy'which type of excuse should make him flout all known court orders that he has come across with as we all know, in a Democratic setting. Very bad omen
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by Oponel1962: 3:55am On Nov 21, 2018
Contract with PDP govt ?
I reserve my comment.
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by sharonorg: 4:03am On Nov 21, 2018
You guys should always fact check people when they make comments. She was disgraced out of power for fraud.

https://www.standard.co.uk/news/politics/priti-patel-received-17000-payout-after-being-forced-to-quit-as-international-development-secretary-a3917786.html
Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by veesion: 4:08am On Nov 21, 2018
0monnak0da:

You are the one in need of quality education who cannot see the difference between international politics and rule of law.
How many times have the US France or Germany subjected themselves to the jurisdiction of courts in Nigeria or Zambia?
How much did Shell pay in compensation for oil spillage in Nigeria?
How much did Pfizer pay for its drug experiment debacle in Kano.

Powerful countries claim sovereignty and never subject themselves to foreign courts why should we be different.?
Close mouth and listen to yourself first,
Those guys can do anything they want in a 3rd world country dat have or whom they know hav poo leaders.
They know they will act and go free in Nigeria
Do you think any Nigerian owned company can go and try shit in the parent countries of those coys
Some African countries like Ghana S.A Egypt Ageria doesn't take most of those shit and those guys know, but for nija hmmmm it only takes little bribery of few ogas at d top and d rest becomes history
Agreement is agreement
If you have a reason or lacuna to back out from u get a lawyer and go through process

1 Like

Re: Why You Should NOT Invest In Nigeria — Priti Patel Writes Investors by Oponel1962: 4:17am On Nov 21, 2018
meobizy:
Hmm. Nobody can save this country.
I know a lot of citizens believe Atiku is the person who can change things. It is a lie, under him this country will sink further.
I do not know how we can make things better nor do I believe one person can do it. Any change we need requires a combined effort which the masses are not ready to put together.
. No Land acquired and no facilities built. What was the$40m spent on and how can you give $7b compensation for that.
The white man still look at us as people without brains.
I whole heartedly support PMB.

1 Like

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