http://www.breakingnews234.com/2014/12/exploding-nigerian-economy-must-read.html?m=1

Excerpts from an Economic Forum Article by Prince Nony-Kay

"The economy of Nigeria is in the doldrums due to armchair postulates at the highest level of Policy formulation. They have lost touch with the realities of societal needs and wants. Maslow was not making empty modules, and as long as we focus on human needs and wants then can we place our priorities right. 


Why should we not refine our oil in Nigeria and export the bye-products. Organise the so called illegal refineries and maximise their economic effects instead of destroying them, only to go abroad and import refined petroleum products, hence, wasting our foreign reserves/earnings. 

Need we import fruit juice, when oranges mango pawpaw pineapple etc are wasted out of season. Can't we revive Jos and Bauchi canning factories ,and many more other ailing ones. We thus loose foreign exchange earning capacity . We must add value to our raw products and create demand . 

Mono-economy is no longer in vogue. Even the MiddleEast is highly diversified. Japan only adds value to goods and concentrates only on Secondary production. Nigeria is not harnessing to her advantage, abundant human and material resources at her disposal. We must close our imports ,60% ,utilizing the funds to open up our economy. We don't even need foreign loans to achieve the target. 
The Cottage industries take less than six months to come on stream. 

We must diversify right away. Commercial cash crops production and processing are the investment thrust, to usher a buoyant economic era focused towards 21st century industrialization victory. We have the technology and our market is large. Automation is not classically needed now. Exploit the labor market and curb unemployment saga. Govt must provide desired investment environment, set up robust pilot projects in the six zones based on comparative cost advantage. The place is here, the time is now.

Wake up Nigeria"

Gbam

Its a shame we are importing rice, fruit juice, milk, electronic/ electrical /mechanical products.

Our oil benchmark should be reduced to $40 and the excess be invested into agriculture, mining, processing and manufacturing businesses.

The interest rate for agricultural, mining, processing and manufacturing sectors should be reduced to 6% in order to encourage them to cheapen their products .


Dollar should be made scarce for importers of finished products, semi finished products and raw materials we can manufacture.

Import duties for finished products should be increased.


We should cut down cost of government by reducing size and eliminating duplicated responsibilities.

We should cut down cost of defence by working with our higher institutions in weapons development as DICON mass produces.

Oil subsidy should go and the money invested into those key 4 economic sectors.

The microscopic ruling class prefer a monopolized system in order to protect their investments.

If only they can hear us

The way forward is the total ban on importation of finished products and goods. There is no two ways about it ,nigeria simply has to start producing and secondly,nigeria needs to go back to agriculture,enough of all these get rich syndrome.

The major.failure of Jonathan apart from defence and security is in the refineries.This is going to bite him hard in February. By making the refineries fail and making billionaires of fuel importers he will have to pay the price. All the refineries as currently existing should have been debottlenecked and expanded. Nigeria is potentially the worlds most important exporter of refined petroleum products than even thst of cassava. That is $40bn revenue a year that we have lost. Instead of getting that we have 5 Nigerian names on Forbes list of billionaires. I think the billionaires should vote for him while we vote for somebody who can move nigeria as a country forward instead of paying back campaign debts to Dangote and Otedola and Ubah

Adminisher:
The major.failure of Jonathan apart from defence and security is in the refineries.This is going to bite him hard in February. By making the refineries fail and making billionaires of fuel importers he will have to pay the price. All the refineries as currently existing should have been debottlenecked and expanded. Nigeria is potentially the worlds most important exporter of refined petroleum products than even thst of cassava. That is $40bn revenue a year that we have lost. Instead of getting that we have 5 Nigerian names on Forbes list of billionaires. I think the billionaires should vote for him while we vote for somebody who can move nigeria as a country forward instead of paying back campaign debts to Dangote and Otedola and Ubah

the blame should not be that of gej alone , what about obj who spent billions on the refineries for 8solid years but yet didn't achieve any positive result

Intelligent,brain tasking and brainstorming threads like this are always avoided by people. But if it is a thread like “buhari says gej will die”,“dbanj and wizkid dance alingo” or “tonto dike in the salon” people will sit there and be insulting each other for hours. If the nigerian masses can't brainstorm and think about how to move forward,what then should we expect from the leaders?the leaders are the product of the system and society.