Isn't nogotiable?

We thank GOD for the information. About time too!

buffalowings:

the world is going mad I swear
a basin of garri is 400naira
3 weeks before it was 270 naira
I no fit cry for market

lolz

https://www.youtube.com/watch?v=jkA1S5hICT4

Nigeria Will Get Out Of Recession In 2018": Tunji Andrews

Tell them. Pple are passing through alot and someone will just come out and spew trash like dis?

trustyshoess:
Whoever said that is not an average man living in Nigeria. Yarning dust from their air-conditioned 24/7 electricity office. Nansense

I guess you think you know better than the World Bank sitting their probably in a face I face you apartment.

Emjay1310:
What the developed countries is doing to developing countries is not good. I don't care what the world bank says about our present state as an economy. what i am interested in is to see that we begin to grow our own products locally so that we don't have to depend on any country for the basic necessities of life. That is what is affecting us in this part of the world

Two sides to it Bro;

1. We need to take the lessons learnt from this recession, pass it on to future generation and make sure we plan for it. Recession on the average takes a 25-30yr cycle and 25-30yrs from now if we don't have value system that address a savings culture, we will fritter away our tomorrow as well. We need to begin to save for the next period of recession from this year. This leads me to the second point which aligns with your point
2. Yes we need to begin to grow our OWN products. We are on the wrong side on balance of trade and we loose so much even on oil. Any item we export in raw form is value being lost. BRIC countries, Brazil especially have evolved an integral member of a production value chain....and that is the home workers. Imagine if we have 3 million registered Garri processors who do so in their backyard, bag and package them in various sizes and weight, and a bulk buyer comes to pick them up every day. Imagine we replicate same model for almost every consumables, including stuffs like biscuits,cakes, shirts and T-shirts, slippers, toothpicks, torch lights, shoes..........

Finally, one area we need to attack that is killing the dollar is university education. Nigerians spend over $3billion last year for overseas university education. This includes Universities in countries like Ghana, Kenya etc. Imagine if we channel half of that to address university education (even support private universities) for the next 5 years. I recommend that all Federal Universities be privatised (let states who choose to, operate govt universities). Let Govt pilot with 15 top FG universities, let them receive a Huge grant of $500m a year grant/loan for 7 years and a 3year-moratorium from the FG...beyond that point all Universities should be on its own. I believe you will see creativity at its peak. First off Unis will be driven to be self-sustaining, then they will realise that RESEARCH is one area they can actually make huge revenue, especially collaboration with private sector.

Malakh:
yeah right only if the nations knew that its the imf,world bank,bank of settlement that will impoverish the nations to make way for the mark of the beast where no one can buy or sell without it, in other words fiat currency will be worthless n extinct

Bros,

I am a christian.......this "mark of the beast" angle that a lot of you put into things end up making us christian largely ignorant

grandstar:

Emjay1310: :
What the developed countries is doing to developing countries is not good. I don't care what the world bank says about our present state as an economy. what i am interested in is to see that we begin to grow our own products locally so that we don't have to depend on any country for the basic necessities of life. That is what is affecting us in this part of the world

Unfortunately, you are part of the problem.

Countries do not grow rich by being self sufficient. They grow rich by focusing resources on where they have comparative advantage i.e. where they excel, where they are good at. You don't prosper at producing just anything because you want to be self sufficient.

Look at tiny Switzerland with a population of just 8million, its exports of watches brings in about $20b, which is about half the sum Nigeria of 180m will earn from crude oil exports this year. Note that watches are Switzerland's 4th largest exports. Its not even the largest export leader.

India which went the self sufficiency route remains poor even though it started liberalising late.

Look at Nigeria, it is the export of crude oil that made the country rich. Imagine if the country had fully developed the petroleum sector. Let's say Nigeria was producing refining 3million barrels of crude daily, had like 4 bonny gas export terminals, was Africa's largest producer of petrochemicals and fertilisers, was producing 80,000mw of power from gas and had a few leading companies in oil servicing, just imagine where the country would be today? That is the power of comparative advantage.

I disagree with you. Your perspective has simply put the cart before the horse
1. Self sufficiency as a pre-condition to wealth for the nations is about defending your turf first, which gives you the leverage to compete, trade and collaborate with others
2. Self sufficiency is contextual. It doesn't necessarily say you do everything. I addresses the area where you do not have disadvantage, yet you fail to do. For example, what business does Nigeria have importing rice, palm oil.....not to talk of crude oil. Malaysia and Singapore came to Nigeria in the 70s to buy palm-oil seedlings and learn the art of palm oil. Today they are one of the largest exporters and we buy a huge chunk from them. Does that make economic sense?
3. Yes you go into an exchange of trade in areas where you have higher competence, but it does not necessarily mean you do not focus on other areas, at least not to loose out in those areas. Why do you think our exchange rate keeps going up? We hardly have anything to defend with, as such we over-labour our dollar.
4. You got it wrong on India. Is India not reputed as one of the fastest developing emerging market economies? Yes India makes more from software export, what we make from oil. They also make so much in terms of food export (you wonder how Gari from India made it to a supermarket shelf in Lagos), they make so much from medical tourism, exports of drugs, construction, machines, etc
5. Finally, one of the reason why countries drift towards self sufficiency is to increase their trade options. When you negotiate with another country for bilateral relationships, the more you bring to the table gives you more advantage over others.....and like chess game you want to push your "pawns" (e.g. cash & food crops and products ) before you play your "Knights", "Bishops" and "Queen" (natural resources)

Horus:

https://www.youtube.com/watch?v=jkA1S5hICT4

Nigeria Will Get Out Of Recession In 2018": Tunji Andrews

Bros,

Not to run Tunji Andrews down, Tunji is not an authority, he's just an upcoming "broad-street" guy with a lot of media attention.

grandstar:


Unfortunately, you are part of the problem.

Countries do not grow rich by being self sufficient. They grow rich by focusing resources on where they have comparative advantage i.e. where they excel, where they are good at. You don't prosper at producing just anything because you want to be self sufficient.

Look at tiny Switzerland with a population of just 8million, its exports of watches brings in about $20b, which is about half the sum Nigeria of 180m will earn from crude oil exports this year. Note that watches are Switzerland's 4th largest exports. Its not even the largest export leader.

India which went the self sufficiency route remains poor even though it started liberalising late.

Look at Nigeria, it is the export of crude oil that made the country rich. Imagine if the country had fully developed the petroleum sector. Let's say Nigeria was producing refining 3million barrels of crude daily, had like 4 bonny gas export terminals, was Africa's largest producer of petrochemicals and fertilisers, was producing 80,000mw of power from gas and had a few leading companies in oil servicing, just imagine where the country would be today? That is the power of comparative advantage.

well criticized. But don't you think that this concept of comparative advantage is what is making the Developing countries not developed?
What if The world is to Start another war today? The other countries don't even need to attack Nigeria because hunger alone will naturally kill us all.
Where a country like Switzerland is known for watches, banks, ports and so on, and these products are in high demand.
Nigeria is only known for crude oil i.e fossil fuel which has numerous substitutes like solar, bio-technology, hydro-power, wind energy. That makes our product elastic and we are at the mercy of the buyers. When we want to produce products we have comparative advantage, we need to produce products that are inelastic in nature. where their substitutes are not much.

Bros we are not xtians,Christianity was given to us by white folks and yes christians dont know nothing because Yahshua(YAH's shua=Salvation) not jesus because jesus is a transliteration of Iesus or son of Zeus said in John that salvation is of the Jews(jew is short for Judah) but I could go on and on but I esteem your humility,if you wanna know more things about us as a people our history,present and future email me or we can talk on the phone...Yah says we should remember the Sabbath and keep it holy,the Sabbath is the seventh day of the week which they call Saturn-day named after their pagan gods as it is with all the days of the week,so why do xtians go to church on the day of the Sun that is Sunday to worship the sun god (lucifer) who is the son of the morning that is son of the sun....I'll stop right here email me or I can call you if you wanna know more,it;s my job to reach out to and feed the lost sheeps of Israel but most people on nairaland dont know who they are they think they are Africans(Africanus) Africanus was an italian General that named the land of Africa after him

mapet:


Bros,

I am a christian.......this "mark of the beast" angle that a lot of you put into things end up making us christian largely ignorant

ItsMeAboki:


I guess you think you know better than the World Bank sitting their probably in a face I face you apartment.

Rubbish

grandstar:


Unfortunately, you are part of the problem.

Countries do not grow rich by being self sufficient. They grow rich by focusing resources on where they have comparative advantage i.e. where they excel, where they are good at. You don't prosper at producing just anything because you want to be self sufficient.

Look at tiny Switzerland with a population of just 8million, its exports of watches brings in about $20b, which is about half the sum Nigeria of 180m will earn from crude oil exports this year. Note that watches are Switzerland's 4th largest exports. Its not even the largest export leader.

India which went the self sufficiency route remains poor even though it started liberalising late.

Look at Nigeria, it is the export of crude oil that made the country rich. Imagine if the country had fully developed the petroleum sector. Let's say Nigeria was producing refining 3million barrels of crude daily, had like 4 bonny gas export terminals, was Africa's largest producer of petrochemicals and fertilisers, was producing 80,000mw of power from gas and had a few leading companies in oil servicing, just imagine where the country would be today? That is the power of comparative advantage.

This is shallow analysis. Very shallow indeed. Countries differ in so many respects. A country such as Nigeria with abundant Natural and Human resources can and should pursue sufficiency in several more industries than than a country with fewer resources.
The assertion that the export of oil is what made the country rich is not only untrue it is ignorant. Presently Nigeria has under 37 billion barrels of proven oil reserves which at current rates of 2 million barrels daily would last another 50 years. 50 years then we become an importer of crude oil. 50 years is not that long for a nation.
Nigeria can and should produce furniture,medicine,vegetable oil,chicken,fish ,building materials,tires,chemicals,clothes, steel,guns,amunition and light weaponry. paper,tyres,rice,chocolates,sweets and confectionery and lots more.
The idea of comparative advantage is a textbook idea but in the real world countries use political and military power to cement advantages. Most of the Worlds chocolate is produced in Europe and most of the inputs INCLUDING energy come from Africa. Making Chocolate is not a high technology industry so why are the Swiss ,Belgians and Americans so dominant because their politicians fight to keep jobs in THEIR COUNTRIES otherwise most of the world's chocolate should be made in Cote d'Ivoire,Ghana and Nigeria. What comparative advantage do the Swiss have? The same applies to countless other industries and smart countries like India have fought to rotect themselves from a skewed World order that cements inequality and unfairness in place. If comparative advantage was indeed true Africa should be the richest place on earth but the World is run by multinationala and they are not apolitical