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Recession Biting Harder - Politics - Nairaland

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BOMBSHELL!! Economic Recession Biting Hard, “Nigeria In Wrong Hands” — Fayose / Harder Times Ahead With Galloping Inflation - Uche Uwaleke, / Governors Show Less Concern As Fuel Scarcity Bites Harder (2) (3) (4)

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Recession Biting Harder by mesoprogress(m): 3:29pm On Aug 15, 2016
1. Buhari should as a matter of urgency make lasting peace with niger delta. He should ascent to their demands. 97% of our dollar earnings come from crude sells. Low oil prices coupled with low output is seriously crippling the economy. We are currently an import dependent nation. Inflation will continue to rise if nothing is done to address niger delta crisis.

2. Let local councils start being independent. Allocation sharing is so wrong. I would suggest each local government be sponsored to invest in business in partnership with private sector if possible. Each Council will survive through own businesses(managed by private companies) and taxes from commercial activities within their domain. LGs with large expanse of land can go into large scale farming eg rice, beans, etc. Instead of giving them allocation, sponsor these projects. Some can enter into small scale manufacturing like shoe making, clothing. The list is endless. Whatever they generate will fund the council.

3.Completely deregulate electricity. The truth is that 1MW generation doesn't need licensing. States could build mini industrial parks with 1MW 24 hrs power. This will improve productivity. 1MW is small, but it's better than nothing.

That apart, community electricity projects will reduce load on national grid. If electricity becomes truly deregulated, small players can bring in small power plants to power communities. So far they are sure to get ROI.

4. Modular refineries. While we wait for mega refineries eg dangote, eleme, warri and kaduna, I think each state should as a matter of urgency sponsor modular refineries of between 10-50000 bpd . These could be fed with crude tankers as against pipelines vulnerable to vandalism. It will reduce our dependence on imported petrol. We save a lot of forex on this. Government can even subsidize PMS without breaking their neck. Each of these modular refineries could cost anywhere between $5M to ~ $50M in the absence of padding.

We can do this as a start. Recovery is great. You have more dollar at your disposal while creating thousands of jobs for your citizens!!! When we import PMS, we use hard currency and at the same time creating jobs for foreigners refining for us! Some would say modular refineries are not very efficient. It doesn't matter, it's a lot better than importing. You create jobs and reduce dollar expenditures in importing.

If Buhari doesn't make a turnaround now, next 3yrs of his tenure will be horrible.
Re: Recession Biting Harder by NavierStokes(m): 3:46pm On Aug 15, 2016
Good points you have there, ask the government to declare year on year inflation figures rather than this month on month figures they are declaring and you will see the streets littered with protesters.

Truth is year on year inflation must have gone past 150%, rather than the anticipated 17.35% month on month figures the masses are hearing.

We are in perilous times but a lot of people haven't yet realized!!! It's necessary that people begin to "steer" the government in the needful direction.

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