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Home Blog Page 5518

Nigeria’s $200 Million Loan for Mosquito Nets, Etc And Wisdom from Ibrahim Oloriegbe

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Nigeria has in the budget money to fight malaria but some foreign creditors have offered Nigeria $200 million loan more: “The Senate has frowned at a plan by the federal government to borrow $200 million to purchase mosquito nets and other ancillary medical therapies to prevent malaria”.  And the government wanted to take it. Then, some reasonable parliamentarians asked questions:

“This is unacceptable. We should be able to put our feet down when dealing with these donor agencies or creditors as regards loans to be taken and what it should be expended on. This is a clear case of money and jobs for the boys by creditors luring you for loans and railroading you on what it should be spent on.

“Washington or whatever creditor offering the loan, should stop giving us money with one hand and taking it back with another hand through railroaded spending,”  Ibrahim Oloriegbe (APC, Kwara).

You know what is happening: they will never give you the loan to buy from mosquito nets producers in Kano, Lagos, Aba and Uyo. They will give you the money and you have to import expensive and overpriced products from abroad. That is one of the major reasons I hate these loans – you never get market value because you take whatever you are given.

 Ibrahim Oloriegbe, keep speaking and please do not allow this loan to go through unless there is a clause that Nigeria can take the $200 million and buy from local companies, not exclusively foreign firms whose governments/funds are providing the loans.

We Stand With The Sudanese People – And Lessons from General Abacha

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I write to stand with the good people of Sudan after the military punted their evolving democracy with a coup. I stand with the oil workers, doctors, pilots, carpenters, market women, and all Sudanese as they oppose these soft-target soldiers. Africa has security issues, and if these soldiers are bored, there are many battlefields available to engage them. Yes, government houses are not the destinations in this age.

Coup is evil. It remains like yesterday when Prof Obah, a Vice Chancellor when I was in FUTO, sent a directive to me that the Students FM Radio Station (just an engineering students thing) we had designed and installed to communicate within campus, has been mandated by General Abacha to be taken down. I could not believe myself. Imagine if they have done the unthinkable: came in and arrested us with no trace. That was my campaign manifesto as Director of Research: I will give FUTO a radio station – and we delivered. The finest Director of Social, Osita Njokubi, P.Eng, C.Eng, made it more popular than the state radio station that non-students were tuning in.

So, khaki boys are NEVER the solution irrespective of the mess from politicians. Sudan took down the last leader, Omar al-Bashir, because of a loaf of bread. These coup plotters should expect fire because this is more than bread – and they will be down.

We stand with Sudan – and peace in the land.

Tekedia Capital Q4 2021 Investment Cycle is currently active; register for access to the deal flow

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The Tekedia Capital Q4 2021 Investment Cycle is currently active; register for access to the deal flow – and join our members and invest in Africa’s future promising startups. A membership fee which covers four investment cycles is $1,000 or N550,000. The Demo Day will take place on Saturday, Oct 30 with all the startups presenting.  We’ve got great companies, from one which processes $10 million monthly transactions in Nigeria (never raised money) to more. To join us, begin here

 

Who Will Collect Taxes On Companies Operating in Blue Origin’s Space-Based Business Park?

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Blue Origin and Sierra Space announced this week plans for Orbital Reef, a “commercially developed, owned, and operated space station” to be built in low Earth orbit.  More so, the companies said the Orbital Reef will run a “mixed use business park” in space. The park will be ready within the decade..

Blue Origin and Sierra Space announced on Tuesday plans for Orbital Reef, a “commercially developed, owned, and operated space station” to be built in low Earth orbit. The station will start operating in the second half of this decade.

The companies said the Orbital Reef will be operated as a “mixed use business park” in space. With shared infrastructure that efficiently supports the proprietary needs of diverse tenants and visitors, and will feature a human-centered space architecture with world-class services and amenities that is inspiring, practical, and safe.

“The station will open the next chapter of human space exploration and development by facilitating the growth of a vibrant ecosystem and business model for the future,” the companies said.

But I have one question: who will collect the tax in Orbital Reef since I am not sure the US or Nigeria will claim jurisdictional control for tax purposes in space?. In other words, if Jeff Bezos (Amazon founder) finishes this thing and decides to move Amazon headquarters to space, what happens to Amazon corporate tax?

Tax attorneys, provide guidance please.

Orbital Reef: Blue Origin Announces Plan to Build A Space Station

Comment on LinkedIn Feed

A nice comment on LinkedIn, by an expert, sharing below

A number of international conventions readily come to mind here. There is the international law principle of Common Heritage of Mankind to the effect that some territories, including space, are for all mankind and cannot be claimed by a nation or entity.

There is the Outer Space Treaty which came to force in January, 1967. It contains a whole lot of interesting provisions, e.g. that space shall be freely used and exploited by all nations; that no nation shall claim sovereignty over any part of the outer space or celestial bodies; states are responsible for their own activities and those of entities originating from such states. In that case, the country of origin of a space dwelling/ trading company takes responsibility, including tax regulations– my submission.

There is also the Declaration on Future Generations which, amongst others, emphasises the preservation of the common heritage of Mankind as well as the interest of Future Generations.

You may also wish to avert your mind to the issue of Mining of Celestial Bodies.
The US has enacted the Commercial Space Launch Competitiveness Act in 2015. This gives US citizens and companies the right to explore and exploit space resources but no sovereignty rights granted. Pause.

Orbital Reef: Blue Origin Announces Plan to Build A Space Station

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As the space economy race heats up, Blue Origin and SpaceX seem to be exploring ways to outdo each other in order to grab a larger share of the emerging market.

Blue Origin and Sierra Space announced on Tuesday plans for Orbital Reef, a “commercially developed, owned, and operated space station” to be built in low Earth orbit. The station will start operating in the second half of this decade.

The companies said the Orbital Reef will be operated as a “mixed use business park” in space. With shared infrastructure that efficiently supports the proprietary needs of diverse tenants and visitors, and will feature a human-centered space architecture with world-class services and amenities that is inspiring, practical, and safe.

“The station will open the next chapter of human space exploration and development by facilitating the growth of a vibrant ecosystem and business model for the future,” the companies said.

Following the successful commercial space outing of SpaceX last year, Blue Origin and Virgin Galactic have both recorded suborbital trips, increasing the frenzy as a horde of millionaires embrace luxury space trips as new hobby. With Space tourism expected to yield $1.1 trillion economy in 2040, rivalry has erupted between the companies, especially Blue Origin and SpaceX, who are also fighting to control space satellite internet.

Blue Origin was founded by Amazon Chairman Jeff Bezos, while SpaceX was founded by world’s richest person, Tesla CEO Elon Musk. The billionaire duo has been competing to dominate the luxury trip industry. While Musk’s SpaceX currently leads the pack with orbital services, the Orbital Reef idea may be the game changer for Bezos’ Blue Origin.

Blue Origin said the idea is backed by space industry leaders and teammates including Boeing, Redwire Space, Genesis Engineering Solutions, and Arizona State University, and will open multiple new markets in space.

“Orbital Reef will provide anyone with the opportunity to establish their own address on orbit. This unique destination will offer research, industrial, international, and commercial customers the cost competitive end-to-end services they need including space transportation and logistics, space habitation, equipment accommodation, and operations including onboard crew,” the companies said.

This is a significant shift from Blue Origin’s original focus, which is to carry out suborbital commercial flights. The company successfully conducted its second commercial flight, onboarding 90-year old Start Trek actor, William Shatner, on October 13. Away from the well-established commercial flights, Blue Origin is embarking on a project that will provide alternative to the retiring International Space Station (ISS), and the Chinese Tiangong Space Station that is currently under construction.

“Seasoned space agencies, high-tech consortia, sovereign nations without space programs, media and travel companies, funded entrepreneurs and sponsored inventors, and future-minded investors all have a place on Orbital Reef,” the company said.

It explains that as the premier commercial destination in low Earth orbit, Orbital Reef will provide the essential infrastructure needed to scale economic activity and open new markets in space.

“Reusable space transportation and smart design, accompanied by advanced automation and logistics, will minimize cost and complexity for both traditional space operators and new arrivals, allowing the widest range of users to pursue their goals,” Blue Origin said. “The open system architecture allows any customer or nation to link up and scale to support demand. Module berths, vehicle ports, utilities, and amenities all increase as the market grows.”

The companies said the idea is being developed in collaboration with space agencies and research institutes, who bring proven capabilities and new visions to provide key elements and services, including unique experience from building and operating the International Space Station.

Mike Gold, Executive Vice President for Civil Space and External Affairs at Redwire, said among other things, the Orbital Reef will help life on Earth while enabling humanity’s journey to the stars.

“The Orbital Reef represents the next evolution of the commercial space paradigm by creating the first ever crewed private sector platform in low Earth orbit. The Orbital Reef will carry forward the singular legacy of the ISS, supporting innovative microgravity research, development, and manufacturing activities which will advance fields as diverse as communications and biotechnology,” he said.

One of the advantages of the collaborations with other space agencies, researchers and experts, is to lower the cost of maintaining and using the station services.

“This is exciting for us because this project does not duplicate the immensely successful and enduring ISS, but rather goes a step further to fulfill a unique position in low Earth orbit where it can serve a diverse array of companies and host non-specialist crews,” said John Mulholland, Boeing VP and program manager for the International Space Station. “It calls for the same kind of expertise we used to first design and then build the International Space Station and the same skills we employ every day to operate, maintain and sustain the ISS.”