plaetton:

100℅.

We should have part time legislators who are only paid sitting allowances. That way, we can attract people who mean well for the country rather than the leaches and billionaire-wanna-bes we currently have.

motherfucker:
nobody is saying he is the cause, most fire outbreak an often not the fault of owners of buildings, but does that mean they should watch their house raze down by fire because they didn't cause it? His lackadaisical attitude has brought us to our knees

plaetton:


That measure is usually taken when inflation is caused by an overheating economy.
What we have now is the opposite, a comatose economy, where there is actually very little money floating in the system.

What we have right now is a rare case of STAGFLATION, inflation in a stagnant economic environment.

My opinion is that this STAGFLATION was caused or at the least, exacerbated by the wrong headed TSA implementation.
Therefore, any additional Moping of liquidity in this economy would make Venezuela look like a paradise.

plaetton:


Excellent point.

How could there be technology transfer when our government allows oil companies allows oil companies to bring in medium level engineers and management staff from the Philippines and other places, instead of training available Nigerians for the work ?

The government has sooo much to do to re-engineer our entire economy.

jpphilips:


A bankers solution, how about supporting manufacturing with cheaper fx to spur production of more goods?

donbenedict:
how abt we sack all incompetent heads of parastatals... emefiele cannot come out and say he has done d best he can do when actually he has done the worst. I want to wake up on a very fine day and get to the newspaper stand, take up a punch news paper that reads,


Godwin Emefiele has been sacked by the President.


It's really gona make my day awesome

jpphilips:


Looters suggestion, lol, sorry we will sustain the fight against corruption, our looters are not known to be investing in our economy but abroad.
The international community have confidence in this fight hence our ability to borrow when the need arises.

shadeyinka:


I look at technology transfer in terms of like MTN, SHELL or MOBIL. What have they added technologicaly to this nation. Nothing!

shadeyinka:


I agree. If the Senate is scrapped or disbanded today, Nigerian will not miss their absence.

..but you haven't given any solution to the struggling Naira.

MadamExcellency:


We have more indigenous oil companies than IOC hence why not?

MTN - System programming, network synchronization, data technology etc. have already been transferred.

The IPOB guy that is charged to court with Nnamdi Kalu works for Ericsson in-charge of MTN, GLO Network Engineering hence he was able to setup the hidden transmitters, expanded the coverage area and sustained it until he was arrested. Is it not technology/technical-know-how transfer?

Technology transfer is real.

Longman6:

on a lighter note I assume Nigeria incurrs about 50billion naira or more on the national assembly yearly this cash can be used for investment in Agriculture and solid mineral s over four years, that should correct the naira/ dollar deficit, let us give the job of legislation to consultants, let pat utomi Rewane +other successful Nigerians in the diaspora help with the economy, Mc kinsey and dalberg help with development issues, and professional bodies handle what ever part of the society is theirs,ministers should be paid 200k monthly+no add on,apart from petrol allowance.+ -any amount budgeted for security vote for all governors should be diverted to building road or power generation..

SUPERPACK:
it will solve it. currently the naira is falling due to its scarcity as a result dwindling export profit as a result of global crude oil price slump, coupled with pipeline vandalization by the NDA, meaning that we earn just 20% of our previous profit. Nw an increase in agricultural exportation will increase our foreign earning since they will pay us in dollars when they buy our product and this in will make dollars available to the importers and effectively crash the demanding cost of dollars.
.
HOPE YOU UNDERSTAND.

shadeyinka:



My laughing did not know no end as I digested your post. ...still laughing

You are describing the most complex form of RE-DENOMINATION of the Naira. Which in other words is like saying that the government should print more Naira and distribute same to all..still LOL

After the first world war, the German were required to pay for damages ...but they were poor..one thing led to another and the country started printing money and this was the result


http://www.historylearningsite.co.uk/modern-world-history-1918-to-1980/weimar-germany/hyperinflation-and-weimar-germany/

Money not backed up by real values end up like Monopoly money ordinary paper!

MadamExcellency:
He needs a new cabinet (ministers), advisers and kitchen cabinet with focus on returning Nigeria to path of growth. For instance, read the excerpts below



The rich (no matter how they made their money) are hiding the cash and are no longer willing to invest in whatever venture for the fear that Buhari will either confiscate the cash or run them down. I want Buhari to apply wisdom when dealing with business community and investors. This is not a time to scare away investors, employers and entrepreneurs.

I want him to suspend public show of fight against corruption and do it more intelligently and underground until our economy recovers.

If it's possible, Buhari should give conditional amnesty to treasury looters (though this sounds absurd) to invest their loot in Nigeria within a specific time frame and this should be done in conjunction with NASS for a legal backing.

We need to put back Nigerians to doing something reasonable with their lives (decent jobs) to earn a decent wage.

If care is not taken, what post elections civil war couldn't do because of peaceful transition of political power in Nigeria may still be done by frustration, hunger and starvation - death, death and more death.

shadeyinka:


Have you ever wondered why the richest men in Nigeria do not have either a farm, a factory or even an office! They are POLITICIANS!

shadeyinka:


The government actually has to directly work out our non existent industrial base.

donbenedict:
how abt we sack all incompetent heads of parastatals... emefiele cannot come out and say he has done d best he can do when actually he has done the worst. I want to wake up on a very fine day and get to the newspaper stand, take up a punch news paper that reads,


Godwin Emefiele has been sacked by the President.


It's really gona make my day awesome

1. Technology transfer

2. Modernization

3. Provision of Employment

How

4. Risk sharing (Joint venture partnerships)

5. Bringing out the best potential out of our Local Industries that are bound to be part of their supply chains thereby exposing them to modern challenges and bringing out the best in them.

MadamExcellency:


No matter whatever means we get it, No company ever employs 100% foreigners, learning on the job is also technology transfer.

Have you ever heard of re-engineering?

When you dismantle gadgets, study them and think of a way of making it better helps.

It's actually reverse engineering not re-engineering, that is stealing like the man you quoted stated, no sane person in the world transfers his technology, it has never happened.
Again even if you work for a foreign company, the trade secret is with R& and most foreign companies in Nigeria have their R& offshore, so you as an employer is an instrument of implementing solutions, but where the solution came from will elude you even if you serve the company for 50yrs.
Coca cola has bottling companies littered everywhere, who has the concentration formula of coca-cola even in those bottling companies?
Again you have the issue of Patent to contend with while considering Technology transfer. It is not really a piece of cake. When you get the technology, you have the issue of raw materials to deal with, let me give you a few global examples.

Till the US sanctioned Russia few years ago, all the rocket engines utilized in the US are all Russia made, the mighty US? can you beat that?
The silicon Valley of the US is depending on 80% chinese raw materials surprised huh!!
Adolf hitler got the E=MC2 formula before the US but guess who made the first Nuclear bomb? US because Germany had no access to plutonium even though he has the technology to enrish one, you see my friend, even the countries you are looking up to are actually looking up to each other, the real world doesn't run on the personal feelings of most Nigerians.

nabiz:
For our naira to improve, we need to increase exportation and reduce importation. To achieve this, i think th federal government should build a production friendly environment.

The unit cost of production in nigeria is higher than average in the world and as a result our prduct may hardly compete other product in the international market in terms of cosst and qaulity which in long ruin affect export which improve our currency

To build a production friendly environment, government should improve power output, and other infrastructure

shadeyinka:


Buhari did not cause the problem on ground. The problems has been a cumulative of successive mismanagement previous government over the period of our existence as a country.

jpphilips:



It's actually reverse engineering not re-engineering, that is stealing like the man you quoted stated, no sane person in the world transfers his technology, it has never happened.
Again even if you work for a foreign company, the trade secret is with R& and most foreign companies in Nigeria have their R& offshore, so you as an employer is an instrument of implementing solutions, but where the solution came from will elude you even if you serve the company for 50yrs.
Coca cola has bottling companies littered everywhere, who has the concentration formula of coca-cola even in those bottling companies?
Again you have the issue of Patent to contend with while considering Technology transfer. It is not really a piece of cake. When you get the technology, you have the issue of raw materials to deal with, let me give you a few global examples.

Till the US sanctioned Russia few years ago, all the rocket engines utilized in the US are all Russia made, the mighty US? can you beat that?
The silicon Valley of the US is depending on 80% chinese raw materials surprised huh!!
Adolf hitler got the E=MC2 formula before the US but guess who made the first Nuclear bomb? US because Germany had no access to plutonium even though he has the technology to enrish one, you see my friend, even the countries you are looking up to are actually looking up to each other, the real world doesn't run on the personal feelings of most Nigerians.

plaetton:


That measure is usually taken when inflation is caused by an overheating economy.
What we have now is the opposite, a comatose economy, where there is actually very little money floating in the system.

What we have right now is a rare case of STAGFLATION, inflation in a stagnant economic environment.

My opinion is that this STAGFLATION was caused or at the least, exacerbated by the wrong headed TSA implementation.
Therefore, any additional Moping of liquidity in this economy would make Venezuela look like a paradise.

plaetton:


That measure is usually taken when inflation is caused by an overheating economy.
What we have now is the opposite, a comatose economy, where there is actually very little money floating in the system.

What we have right now is a rare case of STAGFLATION, inflation in a stagnant economic environment.

My opinion is that this STAGFLATION was caused or at the least, exacerbated by the wrong headed TSA implementation.
Therefore, any additional Moping of liquidity in this economy would make Venezuela look like a paradise.