oduastates:
THE PROBLEM WITH NIGERIA IS NOT THE FOREIGN RESERVES . THE PROBLEM WITH NIGERIA IS HER PRIORITIES OR LACK OF.
Indonesia under Suharto was equally very corrupt but what did their corrupt official spend the stolen money on ?
What did they spend the money they did not steal on?
Did they carry their beggar's bowl around the world asking for help or foreign investors?




Scarce resources( whether private or public) are spent on luxuries or the wrong stuffs .
When I called out the consistent waste of money on Abuja ( a place that does not and has never produced any wealth ) and comparing it to the modesty of Canberra Australia ,I was criticised. some people will never understand the concept . The concept is so simple . Will you keep investing money in a business that does not return a profit .
Canberra was built to complement Brisbane , Sydney Adelaide.
Apart from a few government buildings , no further development was forced or had tax payers money wasted on it . It grew organically .
In Nigeria's case , a significant chunk of capital spending ( I won't be surprised if it approaches 40%) has been wasted since the 70's , forcing development on the place . Yet , Abuja Is still not producing any wealth.



From the leaders to the little man on the street .
I see someone about to be a guest of EFFC.
Unemployable people always have a way of getting right to the top in Nigeria .
A couple of weeks ago , I made mention of the fact that Nigeria suffers from a dearth of competent managers.
Those with good management skills never get to the top
If you look closely at the likes of Dangote and Globacom man , the critical department in their businesses are manned by expatriates. They employ Nigerians in positions where they cannot cause damage.
I have read many articles from Nigerian economists.
Most of them have been arguing about the theories. None of them have been able to answer my question .
How much does the social implication of official devaluation cost ?

1 How would the increase imported fuel prices from official devaluation affect the entire economy .

2 Most Nigerians have never seen a dollar bill in their lives .Their entire existence is based on locally made items . Food is about the most important thing on their worry list . Of what benefit is devaluation to these people .


3 Civil servants and minimum wage earners will see their income halved . based on the locally manufactured items they buy on a daily basis .


I have no time to type more but ,

Nigeria seems to have a 2 track economy .
One that works for the wealthy and politicians and the foreign powers that control them , and the other economy which does not work at all , come rain,come shine , for the masses .
Nigerian elites have had it so good that they want the gravy train to continue even if it keeps impoverishing the people .


I insist that Buhari must not listen to them ,
You can tell a banana republic by simply looking at the country's list of imports ,and comparing that list to the country's list of natural resources .
Almost all the Asian tigers have little or no natural resource , import raw material and machine ,machine tools and export finished goods . Nigeria on the other hand ........
As we speak , they are not asking for a change of behaviours , they are asking for devaluation ( as if that will improve the underlying problem .

All the brain-dead governors always running about for foreign investment and who keep handing construction contracts to foreigner (as if those people will not remove the money from the economy later) , Can anyone tell me how long it takes to train and equip the youth to handle such things .
It is only in Nigeria that the youths are not good enough , Nigerian engineer abroad all seem to be getting the job done .

oduastates:
THE PROBLEM WITH NIGERIA IS NOT THE FOREIGN RESERVES . THE PROBLEM WITH NIGERIA IS HER PRIORITIES OR LACK OF.
Indonesia under Suharto was equally very corrupt but what did their corrupt official spend the stolen money on ?
What did they spend the money they did not steal on?
Did they carry their beggar's bowl around the world asking for help or foreign investors?




Scarce resources( whether private or public) are spent on luxuries or the wrong stuffs .
When I called out the consistent waste of money on Abuja ( a place that does not and has never produced any wealth ) and comparing it to the modesty of Canberra Australia ,I was criticised. some people will never understand the concept . The concept is so simple . Will you keep investing money in a business that does not return a profit .
Canberra was built to complement Brisbane , Sydney Adelaide.
Apart from a few government buildings , no further development was forced or had tax payers money wasted on it . It grew organically .
In Nigeria's case , a significant chunk of capital spending ( I won't be surprised if it approaches 40%) has been wasted since the 70's , forcing development on the place . Yet , Abuja Is still not producing any wealth.



From the leaders to the little man on the street .
I see someone about to be a guest of EFFC.
Unemployable people always have a way of getting right to the top in Nigeria .
A couple of weeks ago , I made mention of the fact that Nigeria suffers from a dearth of competent managers.
Those with good management skills never get to the top
If you look closely at the likes of Dangote and Globacom man , the critical department in their businesses are manned by expatriates. They employ Nigerians in positions where they cannot cause damage.
I have read many articles from Nigerian economists.
Most of them have been arguing about the theories. None of them have been able to answer my question .
How much does the social implication of official devaluation cost ?

1 How would the increase imported fuel prices from official devaluation affect the entire economy .

2 Most Nigerians have never seen a dollar bill in their lives .Their entire existence is based on locally made items . Food is about the most important thing on their worry list . Of what benefit is devaluation to these people .


3 Civil servants and minimum wage earners will see their income halved . based on the locally manufactured items they buy on a daily basis .


I have no time to type more but ,

Nigeria seems to have a 2 track economy .
One that works for the wealthy and politicians and the foreign powers that control them , and the other economy which does not work at all , come rain,come shine , for the masses .
Nigerian elites have had it so good that they want the gravy train to continue even if it keeps impoverishing the people .


I insist that Buhari must not listen to them ,
You can tell a banana republic by simply looking at the country's list of imports ,and comparing that list to the country's list of natural resources .
Almost all the Asian tigers have little or no natural resource , import raw material and machine ,machine tools and export finished goods . Nigeria on the other hand ........
As we speak , they are not asking for a change of behaviours , they are asking for devaluation ( as if that will improve the underlying problem .

All the brain-dead governors always running about for foreign investment and who keep handing construction contracts to foreigner (as if those people will not remove the money from the economy later) , Can anyone tell me how long it takes to train and equip the youth to handle such things .
It is only in Nigeria that the youths are not good enough , Nigerian engineer abroad all seem to be getting the job done .

naijagobetter:
that guy is a confirm ole efcc over to you

shameseun:
This is what you get when you refuse to be educated, Buhari selecting quacks since inauguration.

VICTORCIZA:
KEMI ADEOSUN IS A DISGRACE

VICTORCIZA:
KEMI ADEOSUN IS A DISGRACE

Rayhut:
16+6=24, only in Naija,a sophisticated minister of finance, no wonder the economy is upside down, she need that free Weac Mathematics exam resit in order for her to brush her dull brain up