Wednesday, 2 March 2016

President Buhari Presents 2016 National Budget

President Muhammad Buhari has presented a N6.08 trillion budget for the fiscal year 2016.
Mr. Buhari presented the budget Tuesday morning before a joint session of the National Assembly.
In the budget, capital expenditure takes N1.8 trillion, marking a significant over 300 per cent increment from the 2015 vote of N557 billion.
According to the estimate, N396billion is voted for education, being the largest sectoral allocation.
The health sector gets N296 billion while defence has N294 billion.
This is the first in three years a Nigerian President would personally present a budget before the National Assembly.
That approach by Mr. Buhari earned him commendation by the Speaker of the House of Representatives, Yakubu Dogara, who joked that he had expected the President to tweet or email the budget details.
The last two budgets were presented on behalf of then President Goodluck Jonathan by the then Minister of Finance, Ngozi Okonjo-Iweala.
In his speech, Mr. Buhari said he was aware Nigerians were losing confidence in the government.
“But I promise the 2016 budget would address the problems,” the President said. “We are here to serve Nigeria and indeed Nigerians will get the services they have longed for.”
According to Mr. Buhari, the budget would ensure reduction in taxes for small businesses.
While reiterating his commitment to economic diversification, he said farming and mining would be given special focus.
He also promised that 500,000 new teachers would be recruited.
He assured that the Nigerian economy would cease to be oil dependent and would instead be characterised by inclusive growth.
“We must deliver security, jobs and infrastructures,” Mr. Buhari said.
On the hardship been faced by Nigerians as a result of fuel scarcity, the President apologised for the situation, admitting he was aware the scarcity had caused social dislocation across the country
He blamed the scarcity on speculators and those “resisting change” and assured Nigerians government was working hard to cushion the difficulty.
The President said has directed the Petroleum Product Pricing Regulatory Authority to continue the sell of petrol at N87 per litre for now.

READ FULL BUDGET SPEECH BY PRESIDENT MUHAMMADU BUHARI

If You're Not Following Your Passion, You'll Always Be Looking for an Exit: by Harv Eker: Best selling author of secrets of a millionaire mind.


 http://www.harveker.com/media/dowhatyoulove.png
Money is a funny thing.  
 
Most people will do WHATEVER they can to make more of it... 
 
However, it’s those people who tend to struggle more with it. 
 
Why?  
 
Find out by reading this week’s NEW Million Dollar Life Lesson
 
This week Harv takes us back into the days of his struggle and reveals a huge mistake he made.  
 
He shares a personal story with us that offers a great example of why going after the money or the hottest opportunity is most definitely not the best way to create wealth. 
 
From Harv’s experience, it’s actually the worst way to wealth
 
So what’s a better way?  
 
Read this week’s Million Dollar Life Lesson and find out.  
 
 
you need to read this book 



 

Summary Of Nigeria's 2016 Budget

 budget 2016 02
President Muhammadu Buhari on Tuesday, December 22, presented a 2016 budget proposal of 6.07 trillion naira.

 Nigeria’s 2016 budget is based on a crude oil benchmark price of $38 per barrel and a production estimate of 2.2 million barrels per day for 2016.

Check out a short summary of Nigeria’s national budget for 2016:

  •  GDP Growth Rate Projection: 4.37%
  •  Revenue Projection: 3.86 trillion Naira
  •  Deficit: 2.22 trillion Naira (equivalent to 2.16% of Nigeria’s GDP)
  •  Oil Related Revenues: 820 billion Naira 
  • Non-oil Revenues: 1.45 trillion Naira 
  • Projected Independent Revenues: 1.51 trillion Naira 
  • Capital Expenditure: 1.8 trillion Naira (30% of total budget) 
  • Works, Power and Housing: 433.4 billion Naira
  •  Transport: 202.0 billion Naira Interior: 53.1 billion Naira 
  • Special Intervention Programs: 300 billion Naira
  •  Education: 369.6 billion Naira 
  • Defence: 294.5 billion Naira
  •  Health: 221.7 billion Naira
  •  Ministry of Interior: 145.3 billion Naira
  •  Foreign and Domestic Debt Service: 1.36 trillion Naira 
  • Sinking Fund towards the retirement of maturing loans: 113 billion Naira
  •  Non-debt Recurrent Expenditure: 2.65 trillion Naira

 The deficit will be financed by a combination of domestic borrowing of N984 billion, and foreign borrowing of N900 billion, in total N1.84 trillion.

 There is a proposed a 9% reduction in non-debt recurrent expenditure, from N2.59 trillion in the 2015 budget to N2.35 trillion in 2016.

The budgeted N300 billion for Special Intervention Programs, takes the total amount for non-debt recurrent expenditure to N2.65 trillion.

 The Efficiency Unit set up by the current administration, together with effective implementation of GIFMIS and IPPIS, will drive a reduction of overheads by at least 7%, personnel costs by 8% and other service wide votes by 19%.

Now Arriving: Billionaire Newcomers: you too can be a part of this list, if you follow the right path

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Tax Planning Guide 2016

A Syphilis Outbreak Is Plaguing

What happens in Vegas may not always stay in Vegas.
Officials in Clark County, Nevada, home to Sin City, issued an official warning about a syphilis outbreak after confirming 694 new cases of the sexually transmitted infection, 615 of them in men, according to the Las Vegas Review-Journal. That's a 128% increase over the number of cases confirmed in 2012.
The increase gives Nevada the dubious honor of the state in the western U.S. with the highest rate of syphilis, according to the Associated Press. 
"We are considering this an outbreak because disease rates in our community are continuing to climb and we see no plateau at this point," Chief Health Officer Joe Iser said in a statement to the Review-Journal.
In its early stages, the bacterial infection can cause open sores called chancres that are often mistaken for a symptom of some other condition, according to the CDC. In later stages of the condition, it can cause rashes across the body, or invade the ocular or nervous systems, potentially leading to life-threatening complications.

A Syphilis Outbreak Is Plaguing Las Vegas
Source:  AP
While some of the increase in syphilis rates could be tied to population increases or increased detection rates, the AP reported, health officials say an increase in inconsistent condom use as well as anonymous app-assisted hookups hold some of the blame.
That latter explanation is more complicated than it seems, since meeting people online is just one potential risk factor for contracting a sexually transmitted infection.
"It's never as simple as being 'just' about an app," Debby Herbenick, an Indiana University sexual health expert, told Mic's Nicolas DiDomizio in 2015. "I have had a few students who have met sex partners through Tinder and gotten an STI through such encounters, but I've also had students who have gotten STIs from people they were dating or had sex with at a party, who they had just met."
Las Vegas disease investigator Elizabeth Adelman told the AP that health authorities had "sought permission for a passive presence on platforms such as the gay website Adam4Adam, so users can reach out to them for information. Other popular apps that officials are looking at include Tinder and Grindr."

Whiten Your Teeth At Home In 3 minutes

 
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10 Job Interview Questions You Should Ask

Many job seekers focus so hard on answering interview questions well that they forget something very important: You are there to ask questions, too.
Asking the right questions at an interview is important for two reasons:
First, when done correctly, the questions you ask confirm your qualifications as a candidate for the position.
Second, you are interviewing the employer just as much as the employer is interviewing you. This is your opportunity to find out if this is an organization where you want to work.
(MOREHow to Research Salaries When Job Hunting)
3 Things You Want to Achieve
When you ask the right questions, you want to achieve three things:
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  • Make sure the interviewer has no reservations about you.
  • Demonstrate your interest in the employer.
  • Find out if you feel the employer is the right fit for you.
There are an infinite number of questions you could ask during a job interview, but if you stay focused on those three goals, the questions should come easy to you.
I recommend preparing three to five questions for each interview, and actually ask three of them. (I like to have more prepared than is needed because some of my questions might be answered in the course of the interview.)
(MOREHow to Decode Job Descriptions)
10 Questions You Might Ask In a Job Interview
Here are 10 interview questions you could ask, and why:
1. What skills and experiences would make an ideal candidate? This is a great open-ended question that will have the interviewer put his or her cards on the table and state exactly what the employer is looking for. If the interviewer mentions something you didn’t cover yet, now is your chance.
2. What is the single largest problem facing your staff and would I be in a position to help you solve this problem? This question not only shows that you are immediately thinking about how you can help the team, it also encourages the interviewer to envision you working at the position.
3. What have you enjoyed most about working here? This question allows the interviewer to connect with you on a more personal level, sharing his or her feelings. The answer will also give you unique insight into how satisfied people are with their jobs there. If the interviewer is pained to come up with an answer to your question, it’s a big red flag.
4. What constitutes success at this position and this firm or nonprofit? This question shows your interest in being successful there, and the answer will show you both how to get ahead and whether it is a good fit for you.
5. Do you have any hesitations about my qualifications? I love this question because it’s gutsy. Also, you’ll show that you’re confident in your skills and abilities.
6. Do you offer continuing education and professional training? This is a great positioning question, showing that you are interested in expanding your knowledge and ultimately growing with the employer.
7. Can you tell me about the team I’ll be working with? Notice how the question is phrased; it assumes you will get the job. This question also tells you about the people you will interact with on a daily basis, so listen to the answer closely.
8. What can you tell me about your new products or plans for growth? This question should be customized for your particular needs. Do your homework on the employer’s site beforehand and mention a new product or service it’s launching to demonstrate your research and interest. The answer to the question will give you a good idea of where the employer is headed.
9. Who previously held this position? This seemingly straightforward question will tell you whether that person was promoted or fired or if he/she quit or retired. That, in turn, will provide a clue to whether: there’s a chance for advancement, employees are unhappy, the place is in turmoil or the employer has workers around your age.
10. What is the next step in the process? This is the essential last question and one you should definitely ask. It shows that you’re interested in moving along in the process and invites the interviewer to tell you how many people are in the running for the position.

Cristiano Ronaldo and His Mini-Me's 10 Cutest Father and Son Moments

Cristiano Ronaldo and His Mini-Me's 10 Cutest Father and Son Moments

Cristiano Ronaldo Instagram
Cristiano Ronaldo Instagram Instagram
These two are one of the cutest father-son duos we've ever seen. Cristiano Ronaldo loves sharing moments with his son on Instagram, and his 50 million followers eat it up.
The 31-year-old soccer superstar and son Cristiano Jr.'s photos are basically everything. They even work out together! The 5-year-old cutie is an aspiring soccer player, and he seems to get plenty of lessons from his dad. You'll catch the single father posting photos of his latest training sessions with Jr.
Take a look at Cristiano's top 10 cutest daddy and me moments.
PHOTOS: Stars & Their Mini-Me Kids
1. Cristiano Jr. Made His Dad Crack Up! This video thanking his Instagram followers wouldn't be complete without his partner-in-crime.

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2. Jam Sessions Require Matching Headphones: Jr.'s mood is basically everyone on a Monday.
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3. Snack Attack: They even pose the same. We can't!

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4. Birthday Wishes: This is one of our favorites. Who better to blow out your candles with?
 https://igcdn-photos-d-a.akamaihd.net/hphotos-ak-xta1/t51.2885-15/e35/12534625_202817443399171_288901923_n.jpg?ig_cache_key=MTE2NjgyMDI1OTQ3OTg1MjU1MA%3D%3D.2
5. Just Smile: When your dad is hanging upside down, as if all is normal, and you just go with it.
 https://igcdn-photos-b-a.akamaihd.net/hphotos-ak-xat1/t51.2885-15/s750x750/sh0.08/e35/12523654_1556361904681105_1825534718_n.jpg?ig_cache_key=MTE3NTQxNzI1NDEzNDA2MDExMA%3D%3D.2
6. On Days Off: Their matching straw hats are perfect.
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7. True Love: Cristiano describes it best. So snuggly!
 https://igcdn-photos-b-a.akamaihd.net/hphotos-ak-xpf1/t51.2885-15/s750x750/sh0.08/e35/12407260_1005133086192809_1551562586_n.jpg?ig_cache_key=MTE3NDAwMDI2MTQxNzgzNDE5NA%3D%3D.2
8. They're Riding Dirty: Why do you look so good, Jr.? We're feeling the slicked-back hair.

 https://igcdn-photos-a-a.akamaihd.net/hphotos-ak-xpa1/t51.2885-15/e35/11850282_783997145053880_1235332174_n.jpg?ig_cache_key=MTA1MTQ4MzM2Mjc2ODA5ODYxOA%3D%3D.2
9. Bedtime Selfies: Peace out, world!
10. This Photo: #LifeGoals—we couldn't think of a better picture. Cristiano Jr. is totally his mini-me!   

Forbes 2016 World's Billionaires: Meet The Richest People On The Planet

Volatile stock markets, cratering oil prices and a stronger dollar led to a dynamic reshuffling of wealth around the globe and a drop in ten-figure fortunes for the first time since 2009. For our 30th annual guide to the world’s richest, we found 1,810 billionaires, down from a record 1,826 a year ago. Their aggregate net worth was $6.48 trillion, $570 billion less than last year.  It was also the first time since 2010 that the average net worth of a billionaire dropped – it is now $3.6 billion, $300 million less than last year.
Behind these figures is a story of huge upheaval, as 221 people fell off the list, while 198 newcomers joined the ranks; another 29 people from 2015 died while 29 who’d previously fallen off climbed back on. Of those who were billionaires both years, 892 are poorer while 501 added to their fortunes.

The reshuffling starts at the top. Only 2 people in the top 20 managed to hold onto their ranks. Bill Gates remains the richest person in the world with a net worth of $75 billion, despite being $4.2 billion poorer than a year ago. He has been No. 1 one for 3 years in a row and topped the list 17 out of 22 years. (In the 30 years FORBES has tracked global wealth, only 5 people have held the title of richest person on planet; 3 of those 5 still rank among the 4 richest in the world including Warren Buffett and Carlos Slim.) Also holding steady is Buffett at No. 3. Zara ’s Amancio Ortega moves up to No. 2 for the first time, displacing Mexico’s Carlos Slim, who slips to No. 4. Slim’s fortune fell $27.1 billion to $50 billion in the past year, as shares of his telecom business América Móvil tumbled.
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Facebook’s Mark Zuckerberg had the best year of all billionaires. The 31-year-old added $11.2 billion to his fortune and moved up to No. 6 from 16. He and Amazon’s Jeff Bezos both make their first appearance in the top ten of FORBES’ annual ranking of the world’s wealthiest. Another first: A billionaire from China’s mainland, Wang Jianlin, whose company owns AMC Theaters and soon will own Legendary Pictures, has climbed into the top 20.
Among the most notable newcomers are Cameron Mackintosh, the first theater producer to make the billionaire ranks; WeWork’s Adam Neumann and Miguel McKelvey and Pinterest’s Ben Silbermann and Evan Sharp. Neumann, Silbermann and Sharp are 3 of a record 66 billionaires under the age of 40. The youngest billionaire in the world is a 19-year-old Norwegain heiress, Alexandra Andresen, who has a 42% stake in her family’s business. Her sister Katharina is second youngest, just 20.
Another new entrant worth mentioning is Zhou Qunfei, whose $5.9 billion fortune from smartphone screens is enough to make her the richest self-made woman in the world. She is one of 190 women in the list, down from 197 last year. Among the notable drop-offs are fashion designer Tory Burch, Sam Adams chief Jim Koch and Dick’s Sporting Goods head Edward Stack.
The U.S. has 540 billionaires, more than any other country in the world.  It’s followed by mainland China with 251 (Hong Kong has another 69) and Germany with 120.  Russia has 77, ten-figure fortunes, 11 fewer than last year, while Brazil is down 23 to 31.

T.B Joshua releases alarming 2016 predictions


By Ihechukwu Njoku
Controversial Nigerian ‘Prophet’ T.B. Joshua has released a list of bleak predictions for the New Year 2016, particularly directed towards the continent of Africa. 
Known for his unconventional antics, Mr. Joshua shunned protocol by cancelling his yearly ‘crossover service’, opting rather to address followers live on Christian television network Emmanuel TV from an undisclosed location.
“There will be large scale scarcity, shortage of food,” JMr. oshua, who is the Pastor of The Synagogue, Church Of All Nations (SCOAN) based in Lagos, Nigeria, began. 
“As a state, country, continent, we have to go back to the farm to arrest, to alleviate the forthcoming situation,” he emphasised in the ‘prophecy’ which was later posted on the ministry’s official Facebook page. 
“I encourage the governments of all nations to invest in agriculture and to grant loans to deserving citizens to augment this effort,” he went on.
Mr. Joshua spoke scathingly about Africa, citing the continent’s inability to manage its teeming resources as its major bane. “The continent of Africa – how much have we disappointed God,” he soberly noted.
“Africa is supposed to be the breadbasket of the world. We are supposed to produce a large quantum of food for the world. This is our natural resource base. Food should be our primary export to other continents, food in exchange for technology,” he continued.
Moving on to the political scene, the cleric called on African leaders to“quickly arrest the political situation.”
He stated that the frequency of terrorist attacks in the continent would increase. “More African countries will be under siege by terrorists because of pros and cons in choosing leaders. Mishandling of electoral processes will create a conducive atmosphere for terrorists.”
Mr. Joshua said people will stop investing in politics because of“limited resources and challenges”, adding that this would pave the way for those with genuine intentions to run for political office.
“When you are genuinely called to do the job, you will do it because of your love for it and not because of money,”he stated.
“This year, do what you love. There’s money in love. Money in love brings peace and tranquillity,” he further admonished. 
Mr. Joshua’s prediction closed with a prayer for Nigerian President Muhammadu Buhari. “He has good intentions but a king’s intentions cannot be carried out properly without the support of the subjects. He needs your support to lead us out of the valley,” the cleric stated. 
“The president will do everything to reject revaluation of the naira – which is a good idea from a good leader. But there will be overwhelming pressure which he will not be able to resist. Nigerians, support and pray for your leader. The future is crying for help,”he vividly described.
Despite the worrisome nature of his predictions, Mr. Joshua termed 2016 ‘The Year Of Reward’, stating that believers would be strengthened in the midst of their struggles. 
“Start your year on your knees,” he advised, adding it was an ‘instruction from God’ for believers to begin and end their days in heartfelt prayer. 
“What you were destined to become, this is the year to become it because this is the year of reward,” the cleric declared while on his knees in a location surrounded by trees and water.
“The voice of weeping, sorrow, setback and sickness shall be silenced, in the name of Jesus Christ,” he said.
A day earlier on Wednesday,December 30, 2015, Mr. Joshua posted a sermon about the dangers of offence on YouTube, a topic he further addressed in the live broadcast. 
“Just because you were mistreated, persecuted, lied against, cheated or wrongly accused, as a believer, you do not have permission or the right to hold on to offence,” he counselled.
Two wrongs do not make a right,” he declared, calling on people to ‘let go of offence’.

“When you retain an offence in your heart, you filter everything through it,”he said, explaining that although offence was unavoidable, the response of people to it was what really counted.
Mr. Joshua counted several African leaders among his followers, including the newly elected President of Tanzania, John Magufuli, who has been unanimously lauded for the positive strides the East African nation has taken since the start of his presidency.
His television station, Emmanuel TV, was added to the DSTV bouquet in November 2015, bringing the Nigerian cleric to an even wider audience across Africa.  
According to an announcement on Facebook, Mr. Joshua is set to return to ministration at The SCOAN after a lengthy seven month absence this Sunday 4th January 2016.
Ihechukwu Njoku is a freelance Nigerian journalist

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How 3 Nigerian Presidents wasted N247 billion oil savings, gave illegal loans to NSA, Sao Tome

President Goodluck Jonathan
Former President Goodluck Jonathan's
Many Nigerians would not know where Sao Tome is on the world map, given that the twin island country is of little, if any, strategic importance to Nigeria.
That however did not stop former President Olusegun Obasanjo, in 2004, from doling out $5 million as loan to that nation. Mr. Obasanjo also paid out $40 million as loan to Ghana same year.
Such were the frivolity and impulsiveness that characterized government spending since the return to democracy in 1999.
Between 2004 and 2014, a catalogue of fuzzy loans was indiscriminately granted in off-budget spending to government agencies in what appeared an attack on the nation’s oil savings.
Extra-budgetary sums were dispensed in the name of loans to the foreign countries, the Independent National Electoral Commission (INEC), Inspector General of Police (IGP), the National Security Adviser (NSA), the Ministry of Defence and other agencies.
Minutes of the December 2014 meeting of the Federation Account Allocation Committee (FAAC) Post-Mortem Subcommittee obtained by PREMIUM TIMES show that these funds were discretionary, off-budget loans paid out of the Reserve Accounts especially the 0.5% Statutory Stabilization Fund.
According to the report, the loans granted by Mr. Obasanjo to Ghana and Sao Tome came from the Statutory Stabilization Fund Account.
Over N18 billion was also taken from the reserve account as loan to the Federal Government for its Pioneer Consumer Car Scheme for public servants in paramilitary agencies.
In August 2006, the then President Obasanjo granted N4.58 billion as the first loan while the second and third tranches of N2.8 billion and N10.76 billion were granted in May and December 2007 respectively under the President Umaru Yar’Adua administration.
From the Statutory Stabilization Fund Account, Mr. Obasanjo had pulled out N300 million for IGP to purchase vehicles. In June of 2006 N242.6 million was paid out. Between June and October, two other loans were granted for the same purpose to purchase apparently another set of vehicles.
The amounts were N33.9 million and N32.6 million respectively. Separate loans of N4.57 billion and N1.6 billion, dated February 14 and April 3, 2007 were tagged “Loan granted to Fund for 2006 Virement”.
Notwithstanding provisions already made in the budget, INEC, on two occasions, was granted loans to fund the 2011 and 2015 general elections. In May 2007, over N66.7 billion was given to INEC to fund the 2011 General Election. In December 2013, N3 billion was withdrawn from the Statutory Stabilization Fund Account and given as loan to INEC to speed up its readiness for 2015.
Given that the Statutory Stabilization Fund is a special fund that requires constitutional mandate for its appropriation, the indiscriminate manner in which the loans were approved for these agencies showed a serial disdain for due process.
In September 2010 and February 2011, about N80 billion was taken from the Excess Revenue Domestic and Non-Oil Excess Revenue Accounts as amount borrowed to pay States’ London Club Debt Buy-back. The money was taken in three installments. While the first N48.44 billion was withdrawn from the Non-Oil Excess Revenue Account in September 2010, two other withdrawals of N28.7 billion and N2.83 billion were made from the Excess Revenue Domestic Account respectively.
While some of the withdrawals might be explained as prudent in terms of meeting exigencies associated with economic crisis, the manner they were done were underscored as weak resource governance and mere financial gaieties.
On the part of former President Jonathan, series of loans approved by him were to defence and security. They had the most impact in depleting the nation’s oil reserve. For instance; a loan of N5.5 billion was given to the Office of National Security Adviser in December 2013, for an undisclosed purpose. In the same manner, a loan of N2.56 billion was given to Chief of Naval Staff Coast Guard in December 2013 for equally undisclosed purpose.
In what could be said to be an emerging pattern, a loan of N2.56 billion was given to Chief of Naval Staff Coast Guard in 2013. Again the purpose was not declared. Two outstanding loans to the Nigerian Army for training and kitting of recruits were approved at a cost of N2.6 billion and N1.56 billion respectively.
Other loans given to the military in 2013 included a N7.3 billion loan to fund Military Pension Scheme, N8.48 billion loan to Fund Military Pension Scheme, N2.36 billion loan to the Army as Operation Internal Security and N10.8 billion loan to Ministry of Defence Headquarters.
In 2014, over N2.4 billion was also withdrawn as loan to Nigerian Air Force Operation to meet financial requirements under what was tagged as ‘Air Operation’. Another N2.36 billion was granted as Loan to Nigerian Army Quick Response Group and forward operating Bases.
The establishment of the Excess Crude Account (ECA) in 2004 and the Sovereign Wealth Fund (SWF) in 2011 was essentially to save for the rainy day. These accounts were respectively populated with the excess dollar revenue that came in periods when oil prices became higher than budget benchmarks.
These excess funds would have come in handy for Nigeria as the world is hit by falling oil prices. At various times state governors insisted that these accounts be emptied and shared among the federating states.
Other loans granted between 2013 and 2014 included a N9.19 billion loan for subscription to Islamic Development Bank shares; N2.35 billion loan to the Department of Petroleum Resources as 4% Cost of Collection for month of September, 2014; N8.27 billion loan to the Federal Ministry of Power, another loan of N1 billion to the same Ministry of Power; N3.36 million to the Federal Ministry of Finance for verification of solid minerals and N350 million loan to Nigeria Mortgage Refinance Company Plc.
Yet, other loans were N1.99 billion purportedly released to Health Intervention Workplan/Budget on Ebola Virus Disease; N2.39 billion to Standard Alliance Assurance Ltd being 2013 Armed Forces Group Life Assurance Premium.
All the loans, which remained outstanding by October 31, 2015, violated Nigeria’s fiscal responsibility law and this has made the FAAC Post-mortem committee to recommend that the Office of Accountant General of the Federation (OAGF) examine the loans and grants to ascertain those that need to be written off.
Details of the loans to NSA, MoD and other security agencies are shown in the table below. 
Description of Loans to Security Agencies Date Account from which the amount was borrowed  Amount outstanding as at 31-10-2015 (N)
Loan granted to Ghana ($40 million) and Sao Tome ($5 million) 9/22/04 0.5% Statutory Stabilization Fund Account 827,578,112.70
Loan granted to IGP for purchase of vehicle 6/22/06 0.5% Statutory Stabilization Fund Account 242,645,472.70
Loan granted to FGN for Pioneer Consumer Car scheme 8/7/06 0.5% Statutory Stabilization Fund Account 4,580,507,118.53
Loan granted to IGP for purchase of vehicle   0.5% Statutory Stabilization Fund Account 33,936,500
Loan granted to IGP for purchase of vehicle 10/5/2006 0.5% Statutory Stabilization Fund Account 32,626,027.60
Loan granted to FGN for Pioneer Consumer Car scheme 12/8/07 0.5% Statutory Stabilization Fund Account 10,757,175,000
Loan granted to Fund 2006 Virement 2/14/07 0.5% Statutory Stabilization Fund Account 4,573,773,678
Loan granted to Fund 2006 Virement 4/3/07 0.5% Statutory Stabilization Fund Account 1,600,338,003
Loan granted to FGN for Pioneer Consumer Car scheme for Public Servants in the Paramilitary Agencies 5/9/07 0.5% Statutory Stabilization Fund Account 2,800,000,000
Loan to FGN CRF for funding INEC 2011 General Election 5/22/07 0.5% Statutory Stabilization Fund Account 66,721,961,807.18
Amount borrowed to pay States’ London Club Debt Buy-back September, 2010 Non Oil Excess Revenue Account 48,438,019,698.18
Amount borrowed to pay States’ London Club Debt Buy-back February, 2011 Excess Domestic Account 28,700,000,000
Amount borrowed to pay States’ London Club Debt Buy-back February, 2011 Excess Domestic Account 2,834,278,720.30
Loan to Federal Ministry of Power 8/30/13 0.5% Statutory Stabilization Fund Account  1,000,000,000
Loan to Nigerian Army as Operation Internal Security 8/30/13 0.5% Statutory Stabilization Fund Account  2,368,134,360
Loan to Federal Ministry of Power 2013 0.5% Statutory Stabilization Fund Account  8,270,000,000
Loan for Subscription of Islam Development Bank 2013 0.5% Statutory Stabilization Fund Account 9,189,840,000
Loan to Ministry of Defence Headquarters 2013 0.5% Statutory Stabilization Fund Account  10,847,558,177
Loan to Fund Military Pension Scheme 2013 0.5% Statutory Stabilization Fund Account  7,306,516,345
Loan to FMF for Verification of Solid Minerals 2013 0.5% Statutory Stabilization Fund Account 336,077,079
Loan to Defence Headquarters 2013 0.5% Statutory Stabilization Fund Account  8,479,423,817
Loan to Nigerian Army Quick Response Group and forward operating Bases 12/19/13 0.5% Statutory Stabilization Fund Account  2,368,134,360
Loan to Chief of Naval Staff Coast Guard 12/19/13 0.5% Statutory Stabilization Fund Account  2,555,978,376
Loan to Office of the National Chief Security Adviser 12/20/13 0.5% Statutory Stabilization Fund Account  5,500,000,000
Loan to INEC to speed up its readiness for 2015 12/31/13 0.5% Statutory Stabilization Fund Account  3,000,000,000
Loan to Nigeria MORTGAGE Refinance Company Plc. 10/2/14 0.5% Statutory Stabilization Fund Account  350,000,000
Release to Standard Alliance Assurance Ltd amount approved by HMF being 2013 Armed Forces Group Life Assurance Premium 19/05/14 0.5% Statutory Stabilization Fund Account 2,395,851,978
Release to Health Intervention workplan/budget on Ebola Virus Disease 8/8/14 0.5% Statutory Stabilization Fund Account 1,992,548,500
Loan to Nigerian Air Force Operation to meet financial requirements for execution of Air Operation 12/9/14 0.5% Statutory Stabilization Fund Account  2,409,367,700
Loan to Department of Petroleum Resources as 4% Cost of Collection for month of September, 2014 29/10/14 0.5% Statutory Stabilization Fund Account  2,351,590,959.12
Loan to Nigerian Army for Training and Kitting of 5,000 Recruits 5/11/14 0.5% Statutory Stabilization Fund Account  2,598,000,000
Loan to Nigerian Army for outstanding balance of 2013 recruitment 5/12/14 0.5% Statutory Stabilization Fund Account  1,558,500,000
TOTAL 247,020,361,789.31

Keeping Yourself Motivated

Staying motivated isn’t easy – we often convince ourselves not to be. We often give ourselves excuses, allow other people to put us down, or look at the success of others and think, “That’ll never be me.”
There are two basic types of motivation: intrinsic motivation, and extrinsic motivation.
Intrinsic motivation comes from the feeling of self-achievement inherent in the task or project achieved, i.e. solving a puzzle, completing a school assignment, or finally publishing that website you were working on for a client.
Extrinsic motivation is the reward you get from others – or outside “forces”. This includes money and other financial or tangible rewards, such as a free vacation for achieving your sales targets, a trophy for winning first place at the Olympics, or even the crowd cheering as you overtake car #2 in the last stretch of the race. This explains the “home team advantage” methodology.
Extrinsic motivation (namely money) is often the primary basis for our motivation. Everyone needs money, and wants as much of it as possible. That’s no secret. However, I believe the feeling of self achievement is equally important when it comes to staying motivated.
When you’ve finished the design work for a client, what feels better? Getting paid or seeing your client smile, succeed, and receive brand recognition partly due to your efforts? If you picked getting paid, try thinking about it this way:
A small, startup company seeks your help in setting up their identity (logo, business card, website, etc.). The company is completely unknown but happens to take off. All of a sudden the company is everywhere – the NY Times, TechCrunch, CNN, a trending topic on Twitter, you name it.
Do you still feel the same? Okay, that might have been a bit of an exaggeration, but hopefully my point was made.
But what about the money?
There are many ways that you can use money and your personal financial status to keep yourself motivated. Here are a few ideas:
  • Reward yourself: decide on an amount (that doesn’t cut into your bill paying or savings) and reward yourself after a job well done. Of course you don’t want to spend every hard penny you’ve earned on your favourite hobby, but if it’s all work and no play you’ll get burnt out. Reward yourself as a reminder of what you’re working towards.
  • Financial status: do you want to put a down payment on your own place in 2 years? Pay off the house in 7? Have children and send them to private school? Remind yourself how much money you need to earn each month in order to support your desired lifestyle. If you’re not quite there yet figure out the steps needed to get there and write them down.
  • It takes money to make money: do you have any business plans that require startup capital you don’t currently have? Do you plan to buy and rent properties? Invest? These are other good ways to remind yourself to keep at it.
What else?
Networking. It’s easy to meet other people in your industry on the internet these days (especially if you’re a designer). If you don’t already have a blog, consider starting one. Sign up for Twitter and get out there! Meeting other people in your line of work helps you to learn the language and communication styles that are effective in your industry.
If you know a lot of designers, for instance, they can refer clients to you when they’re overbooked, or when a client requires something beyond their expertise.
It’s also a good idea to try to network in person. It’s refreshing to get out of your home or office and meet people face to face. People will often share more in person than they will on their blog or via Twitter. Escaping your workstation every once in a while will give you that added fuel you need to move forward when you return from your mid-day vacation.
When all else fails, I tend to go on a “success story” binge. Take an hour to watch a few TED Talks, read a few articles about people on the Forbes 400 list, or poke around the Small Business Success Stories page on BusinessWeek.
Stay motivated – and if you can’t, try something new.

Geneva Motor Show 2016: the latest news and most insane cars

Whether it's pushing speed and performance boundaries or redefining expectations of luxury and technological advancement, the cars of the Geneva Motor Show are invariably leaders in their class. All the big companies prioritize this one week in March as a time to show off their very best and most advanced automobiles, and Geneva rarely disappoints. This year's edition features a new special edition Lamborghini, a successor to Bugatti's Veyron, Aston Martin's DB11, and a variety of other unveilings and innovations. To keep up to date with all the happenings from the show floor, stay tuned right here.

Major Updates

  • The indefensible supercar

    Oh, you shameless, unrepentant hedonists. Baubles of billionaires, playthings of playboys. You are the supercar, and in this age of environmental calamities and have-everythings and have-nots, you are indefensible.
  • The retro-futuristic Morgan EV3 could almost be a Star Wars pod racer

    Are you in the market for a car that has charm, panache, old-school design, and zero emissions? Allow me to present the Morgan EV3. It's an all-electric version of the wonderful Morgan three-wheeler.
    With a 20kWh lithium battery, the 64-horsepower, 1,100-pound trike can get from 0 to 60 in well under nine seconds, and can reach nearly 100 mph. In "eco" mode, Morgan says it's good for 150 miles, or 50 miles in the driver-focused "sport" mode — think faster acceleration, better throttle...
    150 miles of all-electric range
     

    Aston Martin unveils the stunning DB11

    You'd think after seeing the latest Bugatti, Lamborghini, and Koenigsegg have to offer I would be feeling jaded by this point, but Aston Martin's DB11 has me thrilled and excited all over again. Unlike the extraterrestrial supercars unveiled earlier in the morning, the DB11 is within reach for mortal Earthlings. It has four seats (albeit with negligible leg room at the back), a trunk that can fit two golf bags, and a comfortable interior decorated with a Bang and Olufsen audio system. Oh, and...
    The most powerful, efficient, and pretty DB yet
  • Watch a diesel scandal protester storm the stage at Volkswagen's press conference

    Dieselgate is still hurting Volkswagen, and as time goes on, the symptoms are getting stranger. A random guy wearing a Volkswagen uniform got on stage during the German auto giant's Geneva Motor Show press conference Tuesday, carrying a "cheat box" prop that he placed underneath the Up! compact that was in the middle of being presented. The exchange that followed between the man and Volkswagen's passenger car chief Juergen Stackmann — who was on stage at the time — is kind of amazing:
    No one is going to find out about this one!
  • Aston Martin's DB11 is the gorgeous Bond car of the future

    There are few car badges in the world with deeper history than Aston Martin's DB line, made most famous by James Bond's beautiful, tricked-out DB5 in 1964's Goldfinger. Now, there's an all-new DB ready for its debut: the DB11, complete with a 5.2-liter twin-turbocharged V-12 that's good for 600 horsepower. Unsurprisingly, it's enough motivation to make this the most powerful DB model Aston has ever produced.
    The company's press release notes that the DB11 is "heralding a new design era for...
    Available later this year

    Koenigsegg's Regera is the hybrid nemesis of Bugatti's Chiron

    Probably the wildest thing about Bugatti's new 1,500hp super sports car is that it's not alone in being able to produce that much power. There's also the Koenigsegg Regera. This car was one of the stars of 2015's Geneva Motor Show and it returns today in an even more splendorous cherry red, with over 3,000 changes under its belt and a lighter and more efficient form.
    Breathtakingly fast, and just as beautiful
  • Lamborghini's Centenario is a gorgeous celebration of an extreme legacy

    2016 would have been the year of the 100th birthday of Lamborghini founder Ferruccio Lamborghini, and the storied Italian carmaker is celebrating the occasion with an extremely limited edition of 40 Centenario hypercars. This one-off design is built around a carbon fiber monocoque and Lamborghini's most powerful engine to date. It can produce 770hp, which seems almost quaint by the epic standards of the 1,500hp Bugatti Chiron and Koenigsegg Regera, but it propels the Centenario from 0 to...
    Questa è la Centenario
  • The Bugatti Chiron is the world’s fastest road car

    The Bugatti Chiron is ready to claim the title of world's fastest car, declared Bugatti President Wolfgang Durheimer at the unveiling of the car today at the Geneva Motor Show.
    Though the Chiron is electronically limited to 261 mph in road mode, with all the restrictions lifted the car should go considerably faster — though Bugatti won't share what it thinks that highest speed will be.
    The Chiron will produce 1,500 horsepower from its 8-liter, W16 engine, and will move from 0-60 mph in less...
    it's really, really fast
  • The Rolls-Royce Black Badge turns ‘murdering out’ into an elegant art form

    A Rolls-Royce can be customized — made bespoke, in RR-speak — in a nearly infinite number of ways.
    From custom paint and leather colors to the starlight headliner (which can be built to illuminate the night sky of a particular day and time), nearly anything is possible. But sometimes even the standard blank slate isn't enough for Rolls-Royce's most demanding customers.
    That's why the company has dropped the blank slate for a black slate, appropriately called the Rolls-Royce Black Badge.
    dark, brooding, and gorgeous
  • Volkswagen's Phideon is a big luxury sedan that you can't have

    Remember the Phaeton? In many markets, Volkswagen's big, ultra-luxe flagship sedan is still sold — but sales in the US ended years ago. Now, there's a Phaeton successor, sort of. Except you can't have it, unless you happen to be in China.
    Meet the Phideon, which will be built in China through VW's local partner, SAIC. It's described as a four-door coupe — a paradoxical term used to describe an ever-growing number of cars like the Mercedes CLS, BMW 4 Series and 6 Series Gran Coupes, and the...
    Unless you're in China
  • The unbelievable €2.4 million Bugatti Chiron in pictures

    There are many absurd facts about the Bugatti Chiron that was just introduced today ahead of the Geneva Motor Show. Its top speed is electronically limited — limited! — to 261 miles per hour. It can reach 125 miles per hour in 6.5 seconds, which may very well be faster than the time it takes your personal vehicle to reach half that. And the base price is an astounding €2.4 million ($2.6 million), which you can presumably run up with options and customization. Nothing about this rare machine...
    Wonderfully excessive

    Bugatti's $2.6 million supercar has diamonds in the speakers

    As if 1,500 horsepower, a $2.6 million price tag, and two metric tons of carbon fiber, aluminum, titanium, glass, and leather weren't enough to set the Bugatti Chiron apart, this new supercar also comes with speaker tweeters made out of diamonds. Each of the four tweeters in the car features a one-carat diamond membrane for what's supposed to be unsurpassed precision and aural fidelity. The company recruited by Bugatti to provide these ultra exclusive speakers is Accuton, and it has a helpful...
    This isn't madness, this is Bugatti
  • Bugatti’s Chiron is the beastly, faster-than-fast, 1,500hp Veyron successor

    How do you introduce a car like the Bugatti Chiron? This is the successor to the Veyron, the most epic exercise in over-engineering that the car world had known until today. The new Chiron turns the Veyron's extreme specs up another notch: 0 to 100km/h in less than 2.5 seconds, four enlarged turbochargers, and a total power output of 1,500hp. Maximum speed is limited to 420km/h for road use, the tires have been specially developed by a Bugatti-Michelin partnership, and the 8-liter W16 engine...
    Even faster, even more exclusive
  • This is the Centenario, Lamborghini's next ultra-limited-edition hypercar

    It's gone now, but Lamborghini briefly posted a video on YouTube this morning of its next ultra-limited-edition car, the Centenario — a 770-horsepower tribute to the 100th birthday of company founder Ferruccio Lamborghini that'll debut at the Geneva Motor Show this week. Power comes from a naturally aspirated (not turbocharged!) V-12 that propels the car from 0-62 mph in just 2.8 seconds; anything under three seconds is solidly in hypercar territory, so yes, the Centenario definitely...
    770 horsepower

    The Volvo V90 wagon might be the most Volvo car ever

    I love the new Volvo XC90 SUV. I also love the new Volvo S90 sedan.
    But while much of Volvo's recent success has come from that SUV, Volvo's heritage — and much of the company's greatest successes — have come from the station wagon. And, with the new Volvo V90, the Swedish carmaker is looking to take over the segment once again.
    Sadly, it's a part of the market that has been crushed in recent years by crossovers and SUVs. But for certain folks (especially those living in Vermont, Colorado,...