ckkris:

1. Stop importing rice as President Jonathan is working on.
2. Stop importing generators, by increasing power production
3. Channel all those monies to increasing production of cotton, cocoa, etc.
4.Revive textiles, the way Obama revived US auto industry
Then imports will be for enhancing productivity, and not consumption, as it has been since 1970s
Then the Central Bank can work with any currency, or gold, as required by Nigerians.

The problem is that we implement our policies haphazardly with no strategic goal in mind!

On one hand we stop the importation of rice but fail to put measures in place to grow local production and the end result is consumers being faced with scarcity that will not abate.

Also, we are signing free trade agreements left and right even though we do not produce/manufacture a damn thing (at least on a scale large enough to make the agreement worthwhile)!

Solution – if you’re going to stop importation of anything, make sure that you encourage growth in that sector and you give manufacturers time to take up the slack. You can easily encourage growth by inviting the manufacturers of the product you import into your country and providing them with low interest rate loans. HOWEVER, you absolutely have to encourage/demand minimum local participation because the end goal is for technology/know-how to transfer to your citizens.

This is the only way for Nigeria to improve.

Wallie:

Nah...Nigeria will do what's best for Nigeria but if I were in charge of Nigeria, in the long run I'll systematically (1) increase the value of Naira or (2) close Nigerian boarders to foreign goods.

Increasing the value of Naira should be done if we’ve given up hope on the manufacturing sector. Some will be quick to point out that our major export is oil which will result in less Naira earned if the value of Naira goes up but I will counter with the fact that we import more goods than we export oil.

However, closing Nigerian boarders systematically is the best long term response because we will still make enough from oil and the shortfall will be made up from the taxes to newly-created Nigerian manufacturers.

Simply put, if there’s a shortage of ANY product for a long period of time and will continue for the foreseeable future, Nigerians and foreigners will set up manufacturing facilities within Nigeria to make up for the shortfall, which will mean more local employment.

The problem with Nigeria is that successive governments do not understand or fail to follow long term policy initiatives implemented by their predecessor. We tend to only see the issues right before our eyes and never seem to think long term.

Very well. But my question was more on the global scope --international trade.

caukerzee: Is it not obvious that the motives of the repulicans are polical rather than what is best for the nation?

Thanks to Obama America now owes approximately $30,000 per citizen

Thanks to Obama, American Foreign policy currency has seriously been devalued.

Billyonaire:

Like You rightly stated, Chinese Yuan is no option because the Chinese Government can deliberately manipulate the value of their currency, the Euro is a no go area. I certainly suggest a Fiat Currency, but if we are to return to the era of money backed by gold deposits and not currency which has become one big ponzi scheme, then your guess is as good as mine. China has been hoarding Gold and stockpiling huge quantities of the precious metal in recent years, I think China saw this coming. The world needs a fiat currency sooner or later.

how ar we sure the chinese ar not bribing some republicans to be stiff necked against obamas govt? The japanese did it some yrs back wen they use to be very strong.

Amhatu: Most Importantly our African leaders better start taking steps now to ease away from the catasrophe when the dollar loses more value!!!

Most African nations generally follow what Nigeria does. If Nigeria becomes organised, Congo will follow, with their enormous potentials, as another post hinted above. The same for South Sudan, Angola, etc. Everyone is waiting.

Isaiah 47:1 KJV
Come down, and sit in the dust, O virgin daughter of Babylon, sit on the ground: there is no throne(DeAmericanize) , O daughter of the Chaldeans: for thou shalt no more be called tender and delicate.
It's all predetermined, as Rome fell, so will she fall, from within and without

Magic Bishop:

Thanks to Obama America now owes approximately $30,000 per citizen

Thanks to Obama, American Foreign policy currency has seriously been devalued.

Why blame Obama for the debts the Republicans piled up since 1970s, even though President Clinton did so well to balance the budget. You don't know how these Republicans just give defence contracts to themselves, and build bridges to nowhere.

wogor@paradise:
how ar we sure the chinese ar not bribing some republicans to be stiff necked against obamas govt? The japanese did it some yrs back wen they use to be very strong.

Because it is not in the interest of China to have their biggest customer fall

ckkris: Why blame Obama for the debts the Republicans piled up since 1970s, even though President Clinton did so well to balance the budget. You don't know how these Republicans just give defence contracts to themselves, and build bridges to nowhere.

Obama's band-aid approach to fix the economy only caused more bleeding

A New World Order is upon us then a One World Order

Wallie:

The problem is that we implement our policies haphazardly with no strategic goal in mind!

On one hand we stop the importation of rice but fail to put measures in place to grow local production and the end result is consumers being faced with scarcity that will not abate.

Also, we are signing free trade agreements left and right even though we do not produce/manufacture a damn thing (at least on a scale large enough to make the agreement worthwhile)!

Solution – if you’re going to stop importation of anything, make sure that you encourage growth in that sector and you give manufacturers time to take up the slack. You can easily encourage growth by inviting the manufacturers of the product you import into your country and providing them with low interest rate loans. HOWEVER, you absolutely have to encourage/demand minimum local participation because the end goal is for technology/know-how to transfer to your citizens.

This is the only way for Nigeria to improve.

I still strongly believe agriculture is the way to go for Nigeria. The government has to start by identifying farm clusters in various parts of the country -- Let's have clusters of cocoa farms, groundnut farms etc etc

Give help to farmers with funds for the procurement of farm implements and materials. It could also import these implements and hand them out to the farmers as a loan repayable over a long term, with minimal or no interest.

To cap it all up, there should be an agency saddled with locating and buying the products from farms and selling them at the international markets. They can share profits. The issue of transportation is important here, we produce a lot as it stands but most of it goes to waste. Collect the products, say oranges, pile them up at a storage and if possible airlift them to customers immediately. Like the hacienda system in the Americas.

Rich farmers == more production == more robust economy and foreign trade.

olu_kenzo :


I still strongly believe agriculture is the way to go for Nigeria. The government has to start by identifying farm clusters in various parts of the country -- Let's have clusters of cocoa farms, groundnut farms etc etc

Stopped at the bolded.

Government this, Government that.

Land is cheap, Labour is inexpensive and the markets are every where. What's stopping Nigeria entrepreneurs and un-employed graduates from going into Agriculture?

Billyonaire:

Do not rejoice about this, people's lives are at stake. Nigeria has about $46 billion there and we also have some billions there on SWF in USA. So, why are you rejoicing. China is the world's factory, if manufacturing slows down, you will find it difficult to afford the Techno phone and that laptop, so you see why you should not rejoice ? America's death, is the worlds temporal burial, the only good news will be emergence of the next world power in waiting. The funny thing is that the next world Economic power is a "Developing" country and not a developed country.

its not a developing country,its a developed country, its the rebirth of Rome

Wallie:

The problem is that we implement our policies haphazardly with no strategic goal in mind!

On one hand we stop the importation of rice but fail to put measures in place to grow local production and the end result is consumers being faced with scarcity that will not abate.

Also, we are signing free trade agreements left and right even though we do not produce/manufacture a damn thing (at least on a scale large enough to make the agreement worthwhile)!

Solution – if you’re going to stop importation of anything, make sure that you encourage growth in that sector and you give manufacturers time to take up the slack. You can easily encourage growth by inviting the manufacturers of the product you import into your country and providing them with low interest rate loans. HOWEVER, you absolutely have to encourage/demand minimum local participation because the end goal is for technology/know-how to transfer to your citizens.

This is the only way for Nigeria to improve.

Team GEJ is succeeding in attracting increasing Foreign Direct Investments, FDIs. Dangote alone has over $3 billions.
NEPA is privatised to attract more FDIs, and enhance more power productions. Government actions in Agriculture is already yielding fruits. And more are manifesting. Only that the existing structure of Consumption, based on petro-dollar, must be TRANSFORMED methodically, in order to manage inevitable political resistance, just as Obama is facing in the US. But the progress is noticeable.

olu_kenzo :


I still strongly believe agriculture is the way to go for Nigeria. The government has to start by identifying farm clusters in various parts of the country -- Let's have clusters of cocoa farms, groundnut farms etc etc

Give help to farmers with funds for the procurement of farm implements and materials. It could also import these implements and hand them out to the farmers as a loan repayable over a long term, with minimal or no interest.

To cap it all up, there should be an agency saddled with locating and buying the products from farms and selling them at the international markets. They can share profits. The issue of transportation is important here, we produce a lot as it stands but most of it goes to waste. Collect the products, say oranges, pile them up at a storage and if possible airlift them to customers immediately. Like the hacienda system in the Americas.

Rich farmers == more production == more robust economy and foreign trade.

The only thing farming does is to guarantee food security, which is not a bad thing but I doubt agriculture alone can sustain a country as big as Nigeria.

Show me a country that thrives exporting agricultural product and I’ll show you x10 that are highly subsidized by the government just to stay afloat! Have you ever imagined what happens to farmers in times of drought spanning a couple of years? How about when some random disease spreads like bird flu?

Manufacturing of things we currently consume in large quantities is the solution.

I believe the. Nigerian Govt crisis team are studding. d situation we should prepare fr bth + n - scenario ..almost frgot its d clueless team but seriously we need to diversify ..

Magic Bishop:

Stopped at the bolded.

Government this, Government that.

Land is cheap, Labour is inexpensive and the markets are every where. What's stopping Nigeria entrepreneurs and un-employed graduates from going into Agriculture?

Where is fund? We are not talking subsistence agriculture here man.

Magic Bishop:

Stopped at the bolded.

Government this, Government that.

Land is cheap, Labour is inexpensive and the markets are every where. What's stopping Nigeria entrepreneurs and un-employed graduates from going into Agriculture?

CAPITAL . Do you live in Nigeria, or even visit at all?

Magic Bishop:

Obama's band-aid approach to fix the economy only caused more bleeding

Band aid? Should he have spent more?

ckkris: Team GEJ is succeeding in attracting increasing Foreign Direct Investments, FDIs. Dangote alone has over $3 billions.
NEPA is privatised to attract more FDIs, and enhance more power productions. Government actions in Agriculture is already yielding fruits. And more are manifesting. Only that the existing structure of Consumption, based on petro-dollar, must be TRANSFORMED methodically, in order to manage inevitable political resistance, just as Obama is facing in the US. But the progress is noticeable.

Which FDI exactly? Dangote invested his own money in spite of the government not because of it or does Nigeria guarantee Dangote's loans?

Late 2010/early 2011, it seemed the power sector was going to get privatized in the twinkle of an eye but 3 years later we are still holding our breadth. Hopefully it happens.

Wallie:

The only thing farming does is to guarantee food security, which is not a bad thing but I doubt agriculture alone can sustain a country as big as Nigeria.

Show me a country that thrives exporting agricultural product and I’ll show you x10 that are highly subsidized by the government just to stay afloat! Have you ever imagined what happens to farmers in times of drought spanning a couple of years? How about when some random disease spreads like bird flu?

Manufacturing of things we currently consume in large quantities is the solution.

I take back the sentence you highlighted in the light of a superior argument. However, agriculture does not only guarantee food security. I make bold to say, forex, employment, raw materials for the agric-based industries you're proposing, etc etc. You left that out, raw materials for your industries...

Wallie:

The problem is that we implement our policies haphazardly with no strategic goal in mind!

On one hand we stop the importation of rice but fail to put measures in place to grow local production and the end result is consumers being faced with scarcity that will not abate.

Also, we are signing free trade agreements left and right even though we do not produce/manufacture a damn thing (at least on a scale large enough to make the agreement worthwhile)!

Solution – if you’re going to stop importation of anything, make sure that you encourage growth in that sector and you give manufacturers time to take up the slack. You can easily encourage growth by inviting the manufacturers of the product you import into your country and providing them with low interest rate loans. HOWEVER, you absolutely have to encourage/demand minimum local participation because the end goal is for technology/know-how to transfer to your citizens.

This is the only way for Nigeria to improve.

It is difficult to have a strategic goal without a sense of Nationhood and what it means to be Nigerian. Many of us are waiting for Nigeria to disintegrate. People talk about corruption but ther is a lot of corruption in Asia.The main difference is the Chinese have a strong sense of what "BEING CHINESE" is and when they steal the money REMAINS in China .We today are begging Switzerland to return Abacha's loot but they know if they give it to us Ibori will bring it back. We are proud to buy houses all over the world and forget we need the money IN NIGERIA. Anyone living in the US can tell us what interest rates are in the US right now and compare that to Nigeria . They have no foreign reserves while we keep ours in their country so they can enjoy cheap credit while we wallow in misery and darkness

First we,like many other African countries need to resolve our crises of national identity and direction. Now some people want a Sharia enclave and perhaps they should. Without resolving those issues we shall forever be talking about Nigeria's potential

manny4life:

I haven't heard about a universal currency, heck if U.S and her Europe allies won't be part of it, then such decision is DOA. What I knew back then was BRICS wanting to initiate a new trading currency, but guess what, I think they've been unsuccessful about the idea. Brings us back to the question

How do you DE-AMERICANIZE THE WORLD ?

Dethrone the petrodollar

0monnakoda:

It is difficult to have a strategic goal without a sense of Nationhood and what it means to be Nigerian. Many of us are waiting for Nigeria to disintegrate. People talk about corruption but ther is a lot of corruption in Asia.The main difference is the Chinese have a strong sense of what "BEING CHINESE" is and when they steal the money REMAINS in China .We today are begging Switzerland to return Abacha's loot but they know if they give it to us Ibori will bring it back. First we,like many other African countries need to resolve our crises of national identity and direction. Now some people want a Sharia enclave and perhaps they should. Without resolving those issues we shall forever be talking about Nigeria's potential

Gbam! Above lies our biggest problem. I won't mince words, after seeing the responses on the NCAA beamer thread, i think its high time we dissolved this unholy alliance.

Billyonaire: Truth Remains that even if the Debt Ceiling is raised today, it means more borrowing by America, its means more debts accumulation, it therefore means that in the future, the climax will be reached and the bubble will affect the entire lenders to America. China and Japan will be affected, even Nigeria's Foreign Reserve and Sovereign Wealth Funds is in jeopardy.

America's debt, is America's burial in the near future, and means, Chinese Glory. By this time tomorrow, if there is no agreement reached by Republicans and OlBama to lift the debt ceiling, USA will be worth $30 billion dollars ONLY in cash.

The truth is that, it is no more safe to invest in America's Securities and Bonds, I say we run East, I say we run to China.

In as much as I agreed with you, but effEct on the major lender like china will also devalue her currency . I think Nig should divest part of her reserves and SWF to real wealth. It can be rebuiild post criss.

trolling: Dethrone the petrodollar

Talk is cheap

A DEAL HAS BEEN REACHED BY US SENATE:

https://www.nairaland.com/1480689/senate-leaders-reach-deal-avoid

Lets meet there.

i believe the euro would be more stable than the dollar in the nearest future.

Son-Of-El:
i believe the euro would be more stable than the dollar in the nearest future.

What do you mean by "STABLE" . Is the $ unstable?
Any particular reason for your belief ?

Magic Bishop:

Thanks to Obama America now owes approximately $30,000 per citizen

Thanks to Obama, American Foreign policy currency has seriously been devalued.

Like there was not a very certain and unavoidable propensity that, that would happen with or without Obama in power? Believe me the republicans would have done worse if they were in power. History has show that the republicans do not handle deps better.

@NairaMinted, you are perfectly right with your record.
US Federal Reserve = Rothschild
US Political Killing = Rothschild

NairaMinted: "The IRS is the collection arm of the Federal Reserve and the Federal Reserve is the collection arm of the Rothschilds. The US money is the Rothschild piggy bank.
Andrew Jackson shut down the Central bank - he was poisoned.
Abe Lincoln issued greenbacks against the Rothschilds Central bankc- He was shot.
McKinley wanted to shut it down - he was shot.
JFK wanted to shut it down - he was shot.
RFK would have followed his brothers policies - he was shot.
Are we seeing a pattern here?
DISSOLVE THE FEDERAL RESERVE and a VAST MAJORITY of the debt will magically disappear!
The Federal Reserve is NOT FEDERAL and it is NOT A RESERVE. It is a PRIVATE CENTRAL BANK OWNED by the Rothchilds.
Eustace Mullins is very enlightening on this subject."

https://www.youtube.com/watch?v=RPBZtiOo1iw

Wallie:

The only thing farming does is to guarantee food security, which is not a bad thing but I doubt agriculture alone can sustain a country as big as Nigeria.

Show me a country that thrives exporting agricultural product and I’ll show you x10 that are highly subsidized by the government just to stay afloat! Have you ever imagined what happens to farmers in times of drought spanning a couple of years? How about when some random disease spreads like bird flu?

Manufacturing of things we currently consume in large quantities is the solution.

Quite a lot of things we consume can derive from agricultural products cotton,leather
All those designer suits we spend so much on are based on Wool another agric product belts shoes bags etc,paper,furniture,rubber.oil, cosmetics,soaps etc If you look around you you are surrounded by agricultural product with added value. I would argue that more than half our imports are agricultural in origin