Nigeria is rated the number two most corrupt country in the world. Bangladesh, I think, is number one. The Nigerian government could not be more corrupt
Nigeria is rated the number two most corrupt country in the world. Bangladesh, I think, is number one. The Nigerian government could not be more corrupt
Link Please
might be nice if PEOPLE would do some DD before they post absolutes ......Egg
just scroll back.........pg.2 of thread
quote:Originally posted by Egg Inspector: Nigeria removed from international finance blacklist, President Obasanjo elated Jun 23, 2006, 13:40
President Olusegun Obasanjo has expressed his elation at the announcement of Nigeria’s removal from the International Financial Task Force’s (FATF) list of Non-Cooperating Countries and Territories.
Welcoming the announcement by the FATF in Paris on the morning of June 23, President Obasanjo said that Nigeria’s de-listing would, together with the ending of its indebtedness to the Paris Club, the BB Minus rating of its long-term credit status and other positives economic indices, help to attract greater foreign investment to the country.
He also noted that with the de-listing of the country by the FATF, Nigerians would now find it easier to transact business with foreign partners, as existing restrictions on their ability to engage in financial transactions outside the country will be removed.
President Obasanjo commended members of the Inter-Agency Committee who crafted the National Anti-Money Laundering Strategy and worked with the FAFT to ensure that Nigeria met its criteria for removal from its list of non-cooperating countries. He also praised the National Assembly for passing the required legislation.
Nigeria was placed on the FATF list of non-cooperating countries in July 2001, having been adjudged to be in substantial non-compliance with a set of 25 criteria including weak anti-money-laundering legislation, inadequate regulation and supervision of the financial sub-sector and the absence of a Financial Intelligence Unit for the receipt and analyses of reports of suspicious transactions from financial institutions.
The country’s de-listing by the FATF today (June 23) is in recognition of the significant progress which the Obasanjo Administration has made in sanitizing the country’s financial sector and implementing the National Strategy Against Money Laundering and Combating the Financing of Terrorism.
With today’s delisting by the FATF, Nigeria is now free of encumbrances that have the capacity to stifle the inflow of investment and economic growth.
Related stories
New Presidential Panel to improve business in Nigeria set up
posted
Rather than dictate what readers are to believe, a PhD-Ma-Ba-millionaire-coyote, allow people to discover the truth on their own...
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1:04 p.m. October 18, 2005 LONDON – Bangladesh and Chad were ranked most corrupt on a global watchdog group's annual list of corruption levels in 159 nations, released Tuesday. At the other end of the scale, Iceland was ranked least corrupt. Corruption undermines efforts to eradicate poverty, with graft by public officials hampering attempts to raise the living standards of the poor, Transparency International said.
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"Corruption must be vigorously addressed if aid is to make a real difference in freeing people from poverty," said Peter Eigen, chairman of the Berlin-based group. To form its annual corruption index, Transparency International asked businessmen, academics and public officials about how countries they live in or do business with are perceived.
On a scale of one to 10, Bangladesh and Chad both scored 1.7, meaning that graft is perceived as being rampant. The least corrupt country, Iceland, scored 9.7.
Corruption is a widespread problem in Chad, but difficult to detect in a nation where most civil servants and judicial workers are paid low – and often delayed – salaries.
Human rights organizations and civic groups in Chad say corruption is most widespread in the customs and tax enforcement services, the judiciary and the government procurement office. Legal clerks are known to obstruct procedures to elicit bribes. Tax and customs officials sometimes facilitate tax evasion only to return later to pursue the crimes they facilitated.
There is a perception that most graft goes unpunished in the African country, despite a February 2000 anti-corruption law that spells out penalties. Bribery, for example, is included, but there is no known case of anyone having been prosecuted since the law was enacted.
In Bangladesh, government agencies siphoned off a reported $68 million through corruption last year, with the communications sector the worst offender, the group said.
Government officials and senior bureaucrats were blamed in 72 percent of the cases involving misuse of public funds in the South Asian nation. In terms of bribes and misuse of power, the police department was responsible for nearly 17 percent of money lost, the report said.
Minister for Communications Nazmul Huda dismissed the report, saying "it's not based on truth."
Transparency International chief executive David Nussbaum said many developing countries need reforms in the public sector to ensure that U.N. aid reaches poverty-stricken populations. The United Nations has a goal of halving extreme poverty by 2015.
"Corruption isn't a natural disaster: it is the cold, calculated theft of opportunity from the men, women and children who are least able to protect themselves," he said in a statement. "Leaders must go beyond lip service and make good on their promises to provide the commitment and resources to improve governance, transparency and accountability." Turkmenistan, Myanmar, Haiti, Nigeria, Equatorial Guinea, the Ivory Coast and Angola joined Chad and Bangladesh as the most corrupt countries, the report said.
After Iceland, the least corrupt were Finland, New Zealand, Denmark, Singapore, Sweden, Switzerland, Norway, Australia and Austria. The United States was ranked 17th. ---------------------------------------------------worsening The watchdog said worsening of corruption levels from last year's survey were recorded in Costa Rica, Gabon, Nepal, Papua New Guinea, Russia, Seychelles, Sri Lanka, Suriname, Trinidad and Tobago and Uruguay. ------------------------------------------------------improving
Improvements were found in Estonia, France, Hong Kong, Japan, Jordan, Kazakhstan, Nigeria, Qatar, Taiwan and Turkey.
Many of the 10 countries that joined the European Union in May 2004 and those involved in the EU accession process have also shown improvements in fighting corruption, indicating sweeping reforms and a new emphasis on making public institutions more accountable, the group said.
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Islamabad, Oct 21 (ANI): Pakistan has been listed among the top 15 corrupt countries of the world, according to a report released by Transparency International (TI), a body scrutinizing and evaluating corruption standards globally.
According to the report, Pakistan, which was rated as the 80th transparent country last year, but has now moved to the 129th with Cameroon, Iraq and Kenya also falling in the same category.
Finland tops the list with minimal degree of corruption, while Haiti and Bangladesh were rated as the most corrupt countries. India occupied the 90th position in the ratings. (ANI) -
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Nigeria: IFC Ranks Nigeria 94th in Economic Potentials
This Day (Lagos)
June 22, 2006 Posted to the web June 22, 2006
Josephine Lohor Abuja
The International Finance Corporation (IFC), which is the world's largest multi-lateral source of finance for projects in developing countries and a private sector arm of the World Bank, has ranked Nigeria the 94th out of 155 countries in the world in terms of doing business, just as New Zealand got the first position, Singapore second, United States of America third, Canada forth, Norway fifth, South Africa twenty-eighth, Korea twenty-seventh and China, that is the world's emerging economic power came 91st.
The Minister of Information and National Orientation, Frank Nweke, who disclosed this yesterday after the weekly Federal Executive Council (FEC) meeting, however noted that looking at it in the context of emerging economies amongst which Nigeria is usually rated like Thailand, Malaysia, Mauritius, Korea, South Africa, Pakistan, Kenya, India, Indonesia amongst others, "you will see that yes, it may not be too good, but it is really not too bad".
Nweke also disclosed that by 2010 Nigeria should be in the 30th position out of the 155 countries being rated, added that " if you look at (the ratings) in the context of the fact that you are looking at countries such as Brazil, India and China, and consider where we are coming from, you will see that this a quantum achievement. This is quantum leap".
The Minister who added that Indonesia comes after Nigeria with the 115th position in the ratings that involved 10 indicators that are starting businesses, hiring and firing workers, enforcing contracts, obtaining licences, protecting investors, getting credit, paying taxes, facilitating international trade, registering businesses and closing business, also disclosed that the IFC, in its report titled "Doing Business: 2006 Report", also ranked Indonesia 115, India 116, Venezuela 120, Egypt 141, Russia 79, Korea 27, amongst others.
Giving a summary of the ranking, Nweke stated that "out of this 155 countries, Nigeria was ranked as follows: hiring and firing of workers 27th, getting credit 38th, closing a business 61th, protecting investors 42th, paying taxes 91th, starting a business 105th, dealing with licences 117th, enforcing contracts 119th, facilitating international trade 139th.
The aggregate of all of this puts Nigeria at 94th position out of 155 countries".
It is easy to find an opinion or expert that fits your criteria, doesn't matter which side your on. And don't forget, there are three sides to every story, theirs, yours, and the truth.
I am long XKEM, 46,500 shares!!!!!!!!!!!!
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Thursday, 28 June, 2001, 13:47 GMT 14:47 UK Corruption list
The Corruption Perceptions Index (CPI) was published by a non-governmental organisation - Transparency International (TI) - based on a survey of 91 countries.
Rank Country 2001 CPI score 1 Finland 9.9 2 Denmark 9.5 3 New Zealand 9.4 4 Iceland 9.2 Singapore 9.2 6 Sweden 9.0 7 Canada 8.9 8 Netherlands 8.8 9 Luxembourg 8.7 10 Norway 8.6 11 Australia 8.5 12 Switzerland 8.4 13 United Kingdom 8.3 14 Hong Kong 7.9 15 Austria 7.8 16 Israel 7.6 USA 7.6 18 Chile 7.5 Ireland 7.5 20 Germany 7.4 21 Japan 7.1 22 Spain 7.0 23 France 6.7 24 Belgium 6.6 25 Portugal 6.3 26 Botswana 6.0 27 Taiwan 5.9 28 Estonia 5.6 29 Italy 5.5 30 Namibia 5.4 31 Hungary 5.3 Trinidad & Tobago 5.3 Tunisia 5.3 34 Slovenia 5.2 35 Uruguay 5.1 36 Malaysia 5.0 37 Jordan 4.9 38 Lithuania 4.8 South Africa 4.8 40 Costa Rica 4.5 Mauritius 4.5 42 Greece 4.2 South Korea 4.2 44 Peru 4.1 Poland 4.1 46 Brazil 4.0 47 Bulgaria 3.9 Croatia 3.9 Czech Republic 3.9 50 Colombia 3.8 51 Mexico 3.7 Panama 3.7 Slovak Republic 3.7 54 Egypt 3.6 El Salvador 3.6 Turkey 3.6 57 Argentina 3.5 China 3.5 59 Ghana 3.4 Latvia 3.4 61 Malawi 3.2 Thailand 3.2 63 Dominican Rep 3.1 Moldova 3.1 65 Guatemala 2.9 Philippines 2.9 Senegal 2.9 Zimbabwe 2.9 69 Romania 2.8 Venezuela 2.8 71 Honduras 2.7 India 2.7 Kazakhstan 2.7 Uzbekistan 2.7 75 Vietnam 2.6 Zambia 2.6 77 Cote d´Ivoire 2.4 Nicaragua 2.4 79 Ecuador 2.3 Pakistan 2.3 Russia 2.3 82 Tanzania 2.2 83 Ukraine 2.1 84 Azerbaijan 2.0 Bolivia 2.0 Cameroon 2.0 Kenya 2.0 88 Indonesia 1.9 Uganda 1.9 90 Nigeria 1.0 91 Bangladesh 0.4
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I have listed my source, with the link for all my posts....
please do the same in the future.....Egg
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posted
I will make this request once more. if your going to talk numbers i.e. -population -number of victims affected -patients whom may live in poverty -income levels -number of children per family -families who have a certain financial ability -people's affluence or lack thereof etc..etc..etc..
please list a reference, link, or source where others can independently verify, or this information is USELESS TO EVERYONE.
Everyone who wants to make an informed decision, that is.
thank you for your cooperation.....Egg
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quote:"Simple math will disclose the financial potential of this company. Outlook is very bleak."
Readers cannot calculate with any precision but rather can only rough estimate. There are no statistics available which disclose detailed financial condition of those who are Sickle Cell victims in Nigeria, other than an assumption they are extremely poor.
THERE IS LOTS OF INFORMATION ABOUT NIGERIAN VICTIMS: do your own DD and information is everywhere!
THE SICKLE CELL FOUNDATION Nigeria The Foundation The formation of the Sickle Cell Foundation Nigeria was preceded by the formation of Sickle Cell Clubs and the Federation of Sickle Cell Clubs of Nigeria.
About the Foundation
The formation of the Sickle Cell Foundation Nigeria was preceded by the formation of Sickle Cell Clubs and the Federation of Sickle Cell Clubs of Nigeria. The Sickle Cell Clubs are patient/parent support associations, which are inherently unsuited to addressing other important issues in sickle cell disorder control, such as, research and training of health care personnel in a sustained manner. The Sickle Cell Foundation was established to fulfill this important role. It was incorporated as a company limited by guarantee in November 1994 The Foundation is established for charitable purposes only and it is a non-governmental organization dedicated to the proper care and control of sickle cell and other related disorders in Nigeria.
The idea of developing a Sickle Cell Centre in Nigeria was promoted by the Sickle Cell Club Lagos Nigeria. The club is a non governmental non - profit making organization established in 1984 as a patient/parent support group with the primary aim of helping persons who have sickle cell disorder, through proper information, medical and social care, live as normally as possible and of reducing as much as is humanely possible, the incidence of the disorders in our country.
• Mission: To develop a World Class National Sickle Cell Centre that will drive the search for effective solutions to Sickle Cell Disorder.
• Vision: To help evolve a National Policy on Sickle Cell Disorder and Advocate for equitable access for all Nigerians to appropriate health care.
I couldn't copy and paste the whole site. go, look around....LOL
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posted
well here it is. no more unsubstantiated claims about income, Nigerians, Mortality, disease etc.... this has it all.
a few quick facts:
income: GDP - per capita (PPP): $1,400 (2005 est.) -----------------------------------------------------$1,400.00(ABOVE) = 3.8 X THE POVERTY LINE OF $1 PER DAY
$1 A DAY POVERTY LEVEL
POVERTY LEVEL REFERENCE; http://www.avert.org/aids-nigeria.htm *Nigeria is the 5th largest oil producer in the world and oil dominates the economy. The military governments in power between 1966 and 1999 failed to develop the economy in other areas. This, along with economic mismanagement and corruption, has contributed to Nigeria's poor economic performance and rising poverty. There is a highly unequal distribution of wealth in Nigeria with 66% of the population falling below the poverty line of $1 a day. This puts it among the 20 poorest countries in the world.3------------------------------------------------------------------------- ------------------
GDP - composition by sector: agriculture: 26.8% industry: 48.8% services: 24.4% (2005 est.) Labor force: 57.21 million (2005 est.) Labor force - by occupation: agriculture: 70% industry: 10% services: 20% (1999 est.) Unemployment rate: 2.9% (2005 est.)
Population below poverty line: 60% (2000 est.)
Population: 131,859,731 ----------------------------------------------------131,859,731 x .60= approx. 79,115,838 below. that would put 52,743,900 above the poverty line, yes. point being; this is not a country where the entire population is starving, living in squaller. it is there. lets not get caried away and make ABSOLUTE STATEMENTS.
CIA- World Fact Book
Introduction Nigeria Top of Page Background: Following nearly 16 years of military rule, a new constitution was adopted in 1999, and a peaceful transition to civilian government was completed. The president faces the daunting task of reforming a petroleum-based economy, whose revenues have been squandered through corruption and mismanagement, and institutionalizing democracy. In addition, the OBASANJO administration must defuse longstanding ethnic and religious tensions, if it is to build a sound foundation for economic growth and political stability. Although the April 2003 elections were marred by some irregularities, Nigeria is currently experiencing its longest period of civilian rule since independence. Geography Nigeria Top of Page Location: Western Africa, bordering the Gulf of Guinea, between Benin and Cameroon Geographic coordinates: 10 00 N, 8 00 E Map references: Africa Area: total: 923,768 sq km land: 910,768 sq km water: 13,000 sq km Area - comparative: slightly more than twice the size of California Land boundaries: total: 4,047 km border countries: Benin 773 km, Cameroon 1,690 km, Chad 87 km, Niger 1,497 km Coastline: 853 km Maritime claims: territorial sea: 12 nm exclusive economic zone: 200 nm continental shelf: 200-m depth or to the depth of exploitation Climate: varies; equatorial in south, tropical in center, arid in north Terrain: southern lowlands merge into central hills and plateaus; mountains in southeast, plains in north Elevation extremes: lowest point: Atlantic Ocean 0 m highest point: Chappal Waddi 2,419 m Natural resources: natural gas, petroleum, tin, iron ore, coal, limestone, niobium, lead, zinc, arable land Land use: arable land: 33.02% permanent crops: 3.14% other: 63.84% (2005) Irrigated land: 2,820 sq km (2003) Natural hazards: periodic droughts; flooding Environment - current issues: soil degradation; rapid deforestation; urban air and water pollution; desertification; oil pollution - water, air, and soil; has suffered serious damage from oil spills; loss of arable land; rapid urbanization Environment - international agreements: party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Wetlands signed, but not ratified: none of the selected agreements Geography - note: the Niger enters the country in the northwest and flows southward through tropical rain forests and swamps to its delta in the Gulf of Guinea People Nigeria Top of Page Population: 131,859,731 note: estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality and death rates, lower population and growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2006 est.) Age structure: 0-14 years: 42.3% (male 28,089,017/female 27,665,212) 15-64 years: 54.6% (male 36,644,885/female 35,405,915) 65 years and over: 3.1% (male 1,930,007/female 2,124,695) (2006 est.) Median age: total: 18.7 years male: 18.7 years female: 18.6 years (2006 est.) Population growth rate: 2.38% (2006 est.) Birth rate: 40.43 births/1,000 population (2006 est.) Death rate: 16.94 deaths/1,000 population (2006 est.) Net migration rate: 0.27 migrant(s)/1,000 population (2006 est.) Sex ratio: at birth: 1.03 male(s)/female under 15 years: 1.02 male(s)/female 15-64 years: 1.04 male(s)/female 65 years and over: 0.91 male(s)/female total population: 1.02 male(s)/female (2006 est.) Infant mortality rate: total: 97.14 deaths/1,000 live births male: 104.05 deaths/1,000 live births female: 90.02 deaths/1,000 live births (2006 est.) Life expectancy at birth: total population: 47.08 years male: 46.52 years female: 47.66 years (2006 est.) Total fertility rate: 5.49 children born/woman (2006 est.) HIV/AIDS - adult prevalence rate: 5.4% (2003 est.) HIV/AIDS - people living with HIV/AIDS: 3.6 million (2003 est.) HIV/AIDS - deaths: 310,000 (2003 est.) Major infectious diseases: degree of risk: very high food or waterborne diseases: bacterial and protozoal diarrhea, hepatitis A, and typhoid fever vectorborne disease: malaria respiratory disease: meningococcal meningitis aerosolized dust or soil contact disease: one of the most highly endemic areas for Lassa fever (2005) Nationality: noun: Nigerian(s) adjective: Nigerian Ethnic groups: Nigeria, Africa's most populous country, is composed of more than 250 ethnic groups; the following are the most populous and politically influential: Hausa and Fulani 29%, Yoruba 21%, Igbo (Ibo) 18%, Ijaw 10%, Kanuri 4%, Ibibio 3.5%, Tiv 2.5% Religions: Muslim 50%, Christian 40%, indigenous beliefs 10% Languages: English (official), Hausa, Yoruba, Igbo (Ibo), Fulani Literacy: definition: age 15 and over can read and write total population: 68% male: 75.7% female: 60.6% (2003 est.) Government Nigeria Top of Page Country name: conventional long form: Federal Republic of Nigeria conventional short form: Nigeria Government type: federal republic Capital: Abuja; note - on 12 December 1991 the capital was officially transferred from Lagos to Abuja; most federal government offices have now moved to Abuja Administrative divisions: 36 states and 1 territory*; Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Federal Capital Territory*, Gombe, Imo, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kogi, Kwara, Lagos, Nassarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Rivers, Sokoto, Taraba, Yobe, Zamfara Independence: 1 October 1960 (from UK) National holiday: Independence Day (National Day), 1 October (1960) Constitution: new constitution adopted May 1999 Legal system: based on English common law, Islamic Shariah law (in 12 northern states), and traditional law; accepts compulsory ICJ jurisdiction, with reservations Suffrage: 18 years of age; universal Executive branch: chief of state: President Olusegun OBASANJO (since 29 May 1999); note - the president is both the chief of state and head of government head of government: President Olusegun OBASANJO (since 29 May 1999); note - the president is both the chief of state and head of government cabinet: Federal Executive Council elections: president is elected by popular vote for a four-year term (eligible for a second term); election last held 19 April 2003 (next to be held April 2007) election results: Olusegun OBASANJO elected president; percent of vote - Olusegun OBASANJO (PDP) 61.9%, Muhammadu BUHARI (ANPP) 31.2%, Chukwuemeka Odumegwu OJUKWU (APGA) 3.3%, other 3.6% Legislative branch: bicameral National Assembly consists of Senate (109 seats - 3 from each state plus 1 from Abuja, members elected by popular vote to serve four-year terms) and House of Representatives (360 seats, members elected by popular vote to serve four-year terms) elections: Senate - last held 12 April 2003 (next to be held in 2007); House of Representatives - last held 12 April 2003 (next to be held in 2007) election results: Senate - percent of vote by party - PDP 53.7%, ANPP 27.9%, AD 9.7%; seats by party - PDP 76, ANPP 27, AD 6; House of Representatives - percent of vote by party - PDP 54.5%, ANPP 27.4%, AD 8.8%, other 9.3%; seats by party - PDP 223, ANPP 96, AD 34, other 6; note - one seat is vacant Judicial branch: Supreme Court (judges appointed by the President); Federal Court of Appeal (judges are appointed by the federal government on the advice of the Advisory Judicial Committee) Political parties and leaders: Alliance for Democracy or AD [Mojisoluwa AKINFENWA]; All Nigeria Peoples' Party or ANPP [Don ETIEBET]; All Progressives Grand Alliance or APGA [disputed leadership]; National Democratic Party or NDP [Aliyu Habu FARI]; Peoples Democratic Party or PDP [Dr. Ahmadu ALI]; Peoples Redemption Party or PRP [Abdulkadir Balarabe MUSA]; Peoples Salvation Party or PSP [Lawal MAITURARE]; United Nigeria Peoples Party or UNPP [disputed leadership] Political pressure groups and leaders: NA International organization participation: ACP, AfDB, AU, C, ECOWAS, FAO, G-15, G-24, G-77, IAEA, IBRD, ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITU, MIGA, MINURSO, MONUC, NAM, OAS (observer), OIC, ONUB, OPCW, OPEC, PCA, UN, UNAMSIL, UNCTAD, UNESCO, UNHCR, UNIDO, UNITAR, UNMEE, UNMIL, UNMIS, UNMOVIC, UNOCI, UPU, WCO, WFTU, WHO, WIPO, WMO, WToO, WTO Diplomatic representation in the US: chief of mission: Ambassador Professor George A. OBIOZOR chancery: 3519 International Court NW, Washington, DC 20008 telephone: [1] (202) 986-8400 FAX: [1] (202) 775-1385 consulate(s) general: Atlanta, New York Diplomatic representation from the US: chief of mission: Ambassador John CAMPBELL embassy: 7 Mambilla Drive, Abuja mailing address: P. O. Box 554, Lagos telephone: [234] (9) 523-0916/0906/5857/2235/2205 FAX: [234] (9) 523-0353 Flag description: three equal vertical bands of green (hoist side), white, and green Economy Nigeria Top of Page Economy - overview: Oil-rich Nigeria, long hobbled by political instability, corruption, inadequate infrastructure, and poor macroeconomic management, is undertaking some reforms under a new reform-minded administration. Nigeria's former military rulers failed to diversify the economy away from its overdependence on the capital-intensive oil sector, which provides 20% of GDP, 95% of foreign exchange earnings, and about 65% of budgetary revenues. The largely subsistence agricultural sector has failed to keep up with rapid population growth - Nigeria is Africa's most populous country - and the country, once a large net exporter of food, now must import food. Following the signing of an IMF stand-by agreement in August 2000, Nigeria received a debt-restructuring deal from the Paris Club and a $1 billion credit from the IMF, both contingent on economic reforms. Nigeria pulled out of its IMF program in April 2002, after failing to meet spending and exchange rate targets, making it ineligible for additional debt forgiveness from the Paris Club. In the last year the government has begun showing the political will to implement the market-oriented reforms urged by the IMF, such as to modernize the banking system, to curb inflation by blocking excessive wage demands, and to resolve regional disputes over the distribution of earnings from the oil industry. In 2003, the government began deregulating fuel prices, announced the privatization of the country's four oil refineries, and instituted the National Economic Empowerment Development Strategy, a domestically designed and run program modeled on the IMF's Poverty Reduction and Growth Facility for fiscal and monetary management. GDP rose strongly in 2005, based largely on increased oil exports and high global crude prices. In November 2005, Abuja won Paris Club approval for a historic debt-relief deal that by March 2006 should eliminate $30 billion worth of Nigeria's total $37 billion external debt. The deal first requires that Nigeria repay roughly $12 billion in arrears to its bilateral creditors. Nigeria would then be allowed to buy back its remaining debt stock at a discount. The deal also commits Nigeria to more intensified IMF reviews. GDP (purchasing power parity): $174.1 billion (2005 est.) GDP (official exchange rate): $77.33 billion (2005 est.) GDP - real growth rate: 6.2% (2005 est.) GDP - per capita (PPP): $1,400 (2005 est.) GDP - composition by sector: agriculture: 26.8% industry: 48.8% services: 24.4% (2005 est.) Labor force: 57.21 million (2005 est.) Labor force - by occupation: agriculture: 70% industry: 10% services: 20% (1999 est.) Unemployment rate: 2.9% (2005 est.) Population below poverty line: 60% (2000 est.) Household income or consumption by percentage share: lowest 10%: 1.6% highest 10%: 40.8% (1996-97) Distribution of family income - Gini index: 50.6 (1996-97) Inflation rate (consumer prices): 15.6% (2005 est.) Investment (gross fixed): 23.1% of GDP (2005 est.) Budget: revenues: $12.86 billion expenditures: $13.54 billion; including capital expenditures of $NA (2005 est.) Public debt: 11.2% of GDP (2005 est.) Agriculture - products: cocoa, peanuts, palm oil, corn, rice, sorghum, millet, cassava (tapioca), yams, rubber; cattle, sheep, goats, pigs; timber; fish Industries: crude oil, coal, tin, columbite; palm oil, peanuts, cotton, rubber, wood; hides and skins, textiles, cement and other construction materials, food products, footwear, chemicals, fertilizer, printing, ceramics, steel, small commercial ship construction and repair Industrial production growth rate: 2.4% (2005 est.) Electricity - production: 15.59 billion kWh (2003) Electricity - consumption: 14.46 billion kWh (2003) Electricity - exports: 40 million kWh (2003) Electricity - imports: 0 kWh (2003) Oil - production: 2.451 million bbl/day (2005 est.) Oil - consumption: 310,000 bbl/day (2003 est.) Oil - exports: NA bbl/day Oil - imports: NA bbl/day Oil - proved reserves: 36 billion bbl (2005 est.) Natural gas - production: 19.2 billion cu m (2003 est.) Natural gas - consumption: 7.41 billion cu m (2003 est.) Natural gas - exports: 7.83 billion cu m (2001 est.) Natural gas - imports: 0 cu m (2001 est.) Natural gas - proved reserves: 4.502 trillion cu m (2005) Current account balance: $9.622 billion (2005 est.) Exports: $52.16 billion f.o.b. (2005 est.) Exports - commodities: petroleum and petroleum products 95%, cocoa, rubber Exports - partners: US 46.8%, Brazil 10.5%, Spain 7% (2004) Imports: $25.95 billion f.o.b. (2005 est.) Imports - commodities: machinery, chemicals, transport equipment, manufactured goods, food and live animals Imports - partners: China 9.2%, US 8.2%, UK 7.6%, Netherlands 5.7%, France 5.4%, Germany 4.7% (2004) Reserves of foreign exchange and gold: $30.16 billion (2005 est.) Debt - external: $37.49 billion (2005 est.) Economic aid - recipient: IMF, $250 million (1998) Currency (code): naira (NGN) Exchange rates: nairas per US dollar - 132.59 (2005), 132.89 (2004), 129.22 (2003), 120.58 (2002), 111.23 (2001) Fiscal year: calendar year Communications Nigeria Top of Page Telephones - main lines in use: 1,027,500 (2004) Telephones - mobile cellular: 9,147,200 (2004) Telephone system: general assessment: an inadequate system, further limited by poor maintenance; major expansion is required and a start has been made domestic: intercity traffic is carried by coaxial cable, microwave radio relay, a domestic communications satellite system with 19 earth stations, and a coastal submarine cable; mobile cellular facilities and the Internet are available international: country code - 234; satellite earth stations - 3 Intelsat (2 Atlantic Ocean and 1 Indian Ocean); fiber optic submarine cable (SAT-3/WASC) provides connectivity to Europe and Asia Radio broadcast stations: AM 83, FM 36, shortwave 11 (2001) Television broadcast stations: 3 (the government controls 2 of the broadcasting stations and 15 repeater stations) (2002) Internet country code: .ng Internet hosts: 1,535 (2005) Internet users: 1,769,700 (2005) Transportation Nigeria Top of Page Airports: 70 (2005) Airports - with paved runways: total: 36 over 3,047 m: 6 2,438 to 3,047 m: 12 1,524 to 2,437 m: 9 914 to 1,523 m: 6 under 914 m: 3 (2005) Airports - with unpaved runways: total: 34 1,524 to 2,437 m: 3 914 to 1,523 m: 13 under 914 m: 18 (2005) Heliports: 1 (2005) Pipelines: condensate 105 km; gas 1,896 km; oil 3,638 km; refined products 3,626 km (2004) Railways: total: 3,557 km narrow gauge: 3,505 km 1.067-m gauge standard gauge: 52 km 1.435-m gauge (2004) Roadways: total: 194,394 km paved: 60,068 km unpaved: 134,326 km (1999) Waterways: 8,600 km (Niger and Benue rivers and smaller rivers and creeks) (2005) Merchant marine: total: 49 ships (1000 GRT or over) 263,452 GRT/452,012 DWT by type: barge carrier 1, cargo 5, chemical tanker 7, liquefied gas 1, passenger/cargo 1, petroleum tanker 33, specialized tanker 1 foreign-owned: 3 (Norway 1, Pakistan 1, Singapore 1) registered in other countries: 26 (The Bahamas 2, Bermuda 10, Cambodia 2, Comoros 2, Panama 6, Seychelles 1, unknown 3) (2005) Ports and terminals: Bonny Inshore Terminal, Calabar, Lagos, Port Harcourt Military Nigeria Top of Page Military branches: Army, Navy, Air Force Military service age and obligation: 18 years of age for voluntary military service (2001) Manpower available for military service: males age 18-49: 26,802,678 females age 18-49: 25,668,446 (2005 est.) Manpower fit for military service: males age 18-49: 15,052,914 females age 18-49: 13,860,806 (2005 est.) Manpower reaching military service age annually: males age 18-49: 1,353,180 females age 18-49: 1,329,267 (2005 est.) Military expenditures - dollar figure: $737.6 million (2005 est.) Military expenditures - percent of GDP: 0.8% (2005 est.) Transnational Issues Nigeria Top of Page Disputes - international: ICJ ruled in 2002 on the entire Cameroon-Nigeria land and maritime boundary but the parties formed a Joint Border Commission to resolve differences bilaterally and have commenced with demarcation in less-contested sections of the boundary, starting in Lake Chad in the north; Nigeria initially rejected cession of the Bakassi Peninsula, then agreed, but has yet to withdraw its forces while much of the indigenous population opposes cession; the ICJ ruled on an equidistance settlement of Cameroon-Equatorial Guinea-Nigeria maritime boundary in the Gulf of Guinea, but imprecisely defined coordinates in the ICJ decision, the unresolved Bakasi allocation, and a sovereignty dispute between Equatorial Guinea and Cameroon over an island at the mouth of the Ntem River all contribute to the delay in implementation; a joint task force was established in 2004 that resolved disputes over and redrew the maritime and the 870-km land boundary with Benin on the Okpara River; only Nigeria and Cameroon have heeded the Lake Chad Commission's admonition to ratify the delimitation treaty which also includes the Chad-Niger and Niger-Nigeria boundaries Refugees and internally displaced persons: IDPs: 200,000 - 250,000 (communal violence between Christians and Muslims since President OBASANJO's election in 1999) (2005) Illicit drugs: a transit point for heroin and cocaine intended for European, East Asian, and North American markets; safehaven for Nigerian narcotraffickers operating worldwide; major money-laundering center; massive corruption and criminal activity; remains on Financial Action Task Force Non-Cooperative Countries and Territories List for continued failure to address deficiencies in money-laundering control regime
This page was last updated on 29 June, 2006
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quote:Originally posted by repsag: Good posts Egg..
It is easy to find an opinion or expert that fits your criteria, doesn't matter which side your on. And don't forget, there are three sides to every story, theirs, yours, and the truth.
I am long XKEM, 46,500 shares!!!!!!!!!!!!
well that was toooo Easy
Rep...I promise, you watch my posts and you will see, if I find something to contradict my position, or bolster the 'others' argument, I WILL POST IT...ask all here. tonight was just a matter of finding information, up to date in some cases was the only challenge, but it wasn't to prove a particular point, it was to make the only valid point. As apposed to opinion, unsubstantiated innuendo.
Enough... good night, good luck, and good news tomorrow
posted
looks like we opened a whole penny .01 down on the BSE
Description Exchange Currency Last Price/qualifier Bid / Ask Tendency Today´s High Previous Close Volume Derivate ISIN / Security Code No./ID Date Time Time Change absolute / % Today´s Low Opening Price Last / Total XECHEM INTERNATIONAL INC COM USD0.00001 US9838953019 / 548177 BER EUR 0.039 b 11.07.06
no B/A yet - 09:00 n.a. / n.a. n.a.
(this looks like GAP down to me) - -0.01 / -13.33% 0.039 0.039 0.045 0.039 10,000 / 10,000 ------------------------------------------------------ am I reading this right. did BSE GAP down to open?
posted
Tue Jul 11 06:30:59 2006 EDT NEW BRUNSWICK, N.J., Jul 11, 2006 (BUSINESS WIRE) -- Xechem International, Inc. (OTC BB:XKEM). Xechem International joins in congratulating its subsidiary, Xechem Pharmaceuticals Nigeria, on the successful launch of its new Sickle Cell drug, NICOSAN(TM), at a ceremony held on July 6th at Xechem Park, SHESTCO Complex, Abuja, Nigeria. The launching ceremony that was presided over by Nigeria's President, Chief Olusegun Obasanjo, was broadcasted live throughout Nigeria. Days earlier, the drug was approved by Nigeria's drug and regulatory authority, the National Agency for Food and Drug Administration and Control (NAFDAC). Xechem has obtained the exclusive worldwide rights to manufacture, market and sell NICOSAN(TM) under a licensing agreement with Nigeria's National Institute for Pharmaceutical Research and Development (NIPRD), a federal governmental agency whose scientists are credited with developing the drug.
President Obasanjo Tours Xechem Nigeria's Facilities
In remarks made at the launching ceremony, President Olusegun Obasanjo commended Xechem and its chairman, Dr. Ramesh Pandey, for their success to date in getting to the point of bringing this important drug to market and for validating the government of Nigeria's efforts to commercialize locally developed technologies: "In line with the reform agenda of this administration, the restructuring of the science, technology and innovation system has received priority attention. The re-engineering of the sector is hinged on the vision to make Nigeria a key participant and stakeholder in the application of new and emerging technologies and evolve an economy that is technology driven, private sector led and knowledge based. Today's occasion of launching of NICOSAN(TM) is an attestation that our policy is on the right course." Following the launching ceremony, President Obasanjo unveiled and toured Xechem's facilities and planted a tree on Xechem Nigeria's grounds to commemorate the occasion.
Dr. Pandey added: "We are extremely grateful to His Excellency, President Obasanjo, for making it a priority to personally launch NICOSAN(TM) and visiting Xechem's premises to mark this historic occasion. The President's participation in the ceremony reflects just how important this break-through sickle cell drug is, not only in Nigeria, but for those suffering with this debilitating disease all over the world." A gala affair attended by various ministers, high-level government officials, diplomats, and other business leaders, was held later that evening at the Abuja Sheraton Hotel in downtown Abuja.
About NICOSAN(TM)
NICOSAN(TM) is an anti-sickling "Natural Herbal Drug" developed by Nigerian Scientists at NIPRD and licensed by Xechem. In clinical studies conducted under NIPRD's auspices, the drug has shown to substantially reduce the degree of sickling of the affected red blood cells of those afflicted with the disease. While not a cure for SCD, the clinical trials have confirmed that the large majority of patients taking NICOSAN(TM) no longer experience sickle cell "crises" while on the medication, and even among those whose crises are not eliminated, the number and severity of the crises are substantially reduced.
About Sickle Cell Disease
Sickle Cell Disease (SCD) is an inherited blood disorder caused by an abnormality in the hemoglobin molecule. Patients with the disease often produce stiff, abnormally shaped red blood cells that often do not flow freely through the blood vessels. This can create clogs in the vessels, which in turn cut off the flow of normal hemoglobin and oxygen to parts of the body, and can cause severe painful attacks or "crises," damage to various organs and shortened life spans. People with SCD often suffer unpredictable painful crises several times a year lasting from a few hours to a week or more. In the US, there are approximately 80,000 patients with SCD. In Nigeria, that number is believed to be approximately 4 million, and worldwide at least 12 million individuals are afflicted with SCD.
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posted
looks like i'll be cancelling my sell order whoo!! I read it more along the lines of validation of what's going on. Should keep the eyes on this. May not spark a huge response but support should continue.
Good morning Purl hugggssss
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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posted
How much substance can you get with this project? The deal is struck and now we will get progress reports...This PR is more political than anything else...The politics of this deal are important IMO...
Take a look at our own congress...Heck...they can't get their pants on straight in the morning nevermind implement a drug dispensing program...This is not like a straight manufacturing deal where sales and profits are PR'd...
If needed...Bird flu stocks will be just as political here...If politicians waiver in funding it will effect PPS...no different...This PR confirms the commitment...not a bad update IMO
quote:Originally posted by suncruiser: I agree PG was looking for a little more substance
posted
XECHEM INTERNATIONAL INC COM USD0.00001 US9838953019 / 548177 BER EUR 0.044 b 11.07.06 13:04 0.039 / 0.047 13:04 0.00 / -2.22% 0.044 0.039 0.045 0.039 5,000 / 45,000
moving in the right direction now. Might make a small come back here today but IMO I wouldn't count on too much.
I agree bearclaw, they need to push the politics on this and gain bigger intrest. Lets see "World wide"....yeah I think that can be pushed in politics.
as far as support levels and dipping further we are almost at my bounce point of .048 and bottom support of .03. IMO this should hold at EOD and maybe show a little green. This PR validates more than anything else and should bring other research entities forward to either support the drug or challenge it. Talk about a wild fire. This should be very interesting! and some might say it could be a day to av. and scram.
[ July 11, 2006, 07:52: Message edited by: BooDog ]
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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Nigerian President Olusegun Obasanjo Launches Xechem's Sickle Cell Drug, NICOSAN(TM), in Nigeria
2006-07-11 03:30 PT - News Release
NEW BRUNSWICK, N.J. -- (Business Wire) -- July 11, 2006
Xechem International, Inc. (OTC BB:XKEM). Xechem International joins in congratulating its subsidiary, Xechem Pharmaceuticals Nigeria, on the successful launch of its new Sickle Cell drug, NICOSAN(TM), at a ceremony held on July 6th at Xechem Park, SHESTCO Complex, Abuja, Nigeria. The launching ceremony that was presided over by Nigeria's President, Chief Olusegun Obasanjo, was broadcasted live throughout Nigeria. Days earlier, the drug was approved by Nigeria's drug and regulatory authority, the National Agency for Food and Drug Administration and Control (NAFDAC). Xechem has obtained the exclusive worldwide rights to manufacture, market and sell NICOSAN(TM) under a licensing agreement with Nigeria's National Institute for Pharmaceutical Research and Development (NIPRD), a federal governmental agency whose scientists are credited with developing the drug.
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posted
Man! when I went to bed at 03:15 or so, things were looking BLEAK! look like we had GAP'd down to open still down but fighting back.
07:49am EST
Description Exchange Currency Last Price/qualifier Bid / Ask Tendency Today´s High Previous Close Volume Derivate ISIN / Security Code No./ID Date Time Time Change absolute / % Today´s Low Opening Price Last / Total XECHEM INTERNATIONAL INC COM USD0.00001 US9838953019 / 548177 BER
posted
not much volume M8 not sure it will make it green but it could. Probably waiting to see how we react to the pr...which we won't for the most part IMO but maybe a little in the right direction.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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posted
I am sure it's been posted. but I had to with me own 2 fingers
want to know what I think?
the most important thing about this PR to us is: "it confirms that Barabara is 'for real'", and can be counted on as reliable. other than that....
I don't know if it will be a big impact in the short term of PPS.
I am hopeful
Nigerian President Olusegun Obasanjo Launches Xechem's Sickle Cell Drug, NICOSAN(TM), in Nigeria
By BusinessWire Last Update: 7/11/2006 6:30:42 AM Data provided by
NEW BRUNSWICK, N.J., Jul 11, 2006 (BUSINESS WIRE) -- Xechem International, Inc. (XKEM). Xechem International joins in congratulating its subsidiary, Xechem Pharmaceuticals Nigeria, on the successful launch of its new Sickle Cell drug, NICOSAN(TM), at a ceremony held on July 6th at Xechem Park, SHESTCO Complex, Abuja, Nigeria. The launching ceremony that was presided over by Nigeria's President, Chief Olusegun Obasanjo, was broadcasted live throughout Nigeria. Days earlier, the drug was approved by Nigeria's drug and regulatory authority, the National Agency for Food and Drug Administration and Control (NAFDAC). Xechem has obtained the exclusive worldwide rights to manufacture, market and sell NICOSAN(TM) under a licensing agreement with Nigeria's National Institute for Pharmaceutical Research and Development (NIPRD), a federal governmental agency whose scientists are credited with developing the drug.
President Obasanjo Tours Xechem Nigeria's Facilities
In remarks made at the launching ceremony, President Olusegun Obasanjo commended Xechem and its chairman, Dr. Ramesh Pandey, for their success to date in getting to the point of bringing this important drug to market and for validating the government of Nigeria's efforts to commercialize locally developed technologies: "In line with the reform agenda of this administration, the restructuring of the science, technology and innovation system has received priority attention. The re-engineering of the sector is hinged on the vision to make Nigeria a key participant and stakeholder in the application of new and emerging technologies and evolve an economy that is technology driven, private sector led and knowledge based. Today's occasion of launching of NICOSAN(TM) is an attestation that our policy is on the right course." Following the launching ceremony, President Obasanjo unveiled and toured Xechem's facilities and planted a tree on Xechem Nigeria's grounds to commemorate the occasion.
Dr. Pandey added: "We are extremely grateful to His Excellency, President Obasanjo, for making it a priority to personally launch NICOSAN(TM) and visiting Xechem's premises to mark this historic occasion. The President's participation in the ceremony reflects just how important this break-through sickle cell drug is, not only in Nigeria, but for those suffering with this debilitating disease all over the world." A gala affair attended by various ministers, high-level government officials, diplomats, and other business leaders, was held later that evening at the Abuja Sheraton Hotel in downtown Abuja.
About NICOSAN(TM)
NICOSAN(TM) is an anti-sickling "Natural Herbal Drug" developed by Nigerian Scientists at NIPRD and licensed by Xechem. In clinical studies conducted under NIPRD's auspices, the drug has shown to substantially reduce the degree of sickling of the affected red blood cells of those afflicted with the disease. While not a cure for SCD, the clinical trials have confirmed that the large majority of patients taking NICOSAN(TM) no longer experience sickle cell "crises" while on the medication, and even among those whose crises are not eliminated, the number and severity of the crises are substantially reduced.
About Sickle Cell Disease
Sickle Cell Disease (SCD) is an inherited blood disorder caused by an abnormality in the hemoglobin molecule. Patients with the disease often produce stiff, abnormally shaped red blood cells that often do not flow freely through the blood vessels. This can create clogs in the vessels, which in turn cut off the flow of normal hemoglobin and oxygen to parts of the body, and can cause severe painful attacks or "crises," damage to various organs and shortened life spans. People with SCD often suffer unpredictable painful crises several times a year lasting from a few hours to a week or more. In the US, there are approximately 80,000 patients with SCD. In Nigeria, that number is believed to be approximately 4 million, and worldwide at least 12 million individuals are afflicted with SCD.
About Xechem
Xechem International is a development stage biopharmaceutical company working on anticancer, antiviral (including AIDS), antifungal, antimalarial and antibacterial products from natural sources, including microbial and marine organisms. Its focus is on the development of phyto-pharmaceuticals (natural herbal drugs) and other proprietary technologies, including those used in the treatment of orphan diseases. Xechem's mission is to bring relief to the millions of people who suffer from these diseases. Its recent focus and resources have been directed primarily toward the development and launch of NICOSAN(TM) (to be marketed as HEMOXIN(TM) in the US and Europe). With the Nigerian regulatory approval now in hand, Xechem will now turn to the commercialization of the drug in Nigeria and the pursuit of US FDA and European regulatory approval. In addition to NICOSAN(TM), Xechem is also working on another sickle cell compound, 5-HMF, which it has licensed from Virginia Commonwealth University.
Forward Looking Statements
This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward looking statements involve known and unknown risks and uncertainties.
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