9jaganja:

Ever growing consumer population you mean? Under AU other African companies have easy access to Nigerian markets so If say Botswana is selling rice to Nigerians and other products that our consumer population needs, who has more economic strength? Our population is only good as consumers and the only reason the world think we are important is because of our consumer market which is ever growing. You call that good? Wait till Garri is 1000 naira a cup

EzeUche:

I forgot to add that a large population full of poor illiterates will be a source of cheap labor. As China and India's middle class grow, they will need places where they can get goods for cheaper. Nigeria is still a very cheap place for labor so soon, manufacturing may come to Africa and Nigeria in particular due to the fact that these Asian nations are becoming wealthier.

Nigeria is like the China of Africa while South Africa on the other hand is more like the United States.

9jaganja:

You really are a capitalist minded dude. "A large population full of poor illiterates"? Is that what you want for Nigeria? That poor population full of illiterates will cause civil war and other societal illness that will make Nigeria so unstable, investors will run. What kind of mind do you have?

Ezechue don't post again please!!!! If cheap labour is what will bring industries to Nigeria then they can kiss Nigeria goodbye if I'm president. Cheap labour include harsh working conditions you know? how cheap can that labour be when most of what we buy in Nigeria are imported? If the manufacturer wants to sell into nigerian market which has the so called cheap labour then it must realize the profit will be low because he must be willing to sell the priducts at rate affordable to the people he pays less. Do you think China has an economy of it's own? Chinese economy depends on how much the rest of the world can buy. Chinese citizens can't afford what they manufacture. Is that what you want for Nigeria? Okay, I'll just be miserable for a while and go to bed after that. Goodnight Ezechue.

EzeUche:

Hear me out, cheap labor attracts investment. China was once an agrarian society, until it opened up to the West after U.S. President Nixon went to China to open up China for business. U.S companies and other West companies flocked to China to invest in their manufacturing capabilities, consumer market, and source of cheap labor. The same can be done to Nigeria if the right people are put in place.

The masses can be kept in check when you have a strong military apparatus which Nigeria doesn't have at this moment since there is a low level insurgency that is continuing to tack its toll in the Niger Delta.

Don't you see China is becoming wealthier and now they control most of the the United States debt? Now they have true power of the U.S. by doing what I just stated. And their middle class is growing exponentially. That is what I want for Nigeria. That is the end goal.

9jaganja:

Wow people will say anything to sound intelligent even if it makes them sound dumb.


Back to you Ezechue before I sleep. You said military to keep the mass in check? You mean disgrace our democracy? If the people revolt then they don't want it and if they don't want it then is shouldn't be done. All the myth of China being an agrarian society before the opened to the west is all lies. China was doing well if they were so bad why weren't the brits able to conquer? They even rented out Hong Kong to the Brits. Cheap labour attracts bad investment. Though protectionism is bad, opening up your market to without measures that both encourages you foreign investors and strengthens your local investors is worst. Foreign investors comes with big cash and invest more in market share than local investors what happens the local industry starts to fold up and boom your market is controlled by foreign investors. Ask Jamaica what happened to their once great economy. Ezechue cheap labour is bad, investing in a place cause of cheap labour is not human at all. I don't know but our economical philosophies differ so let's close that chapter. I believe in economic strength for all the citizens of a nation. A company willing to invest in a nation under my kind of economic philosophy must be willing to pay regulatory labour price. In china many are exposed to deadly chemical for labour of 30cents/hr. Under cheap labour there will be no health insurance coverage. In case of an accident, the worker goes off unpaid. That's China for you.

Merge your soul with your philosophy that way if you are evil well then your philosophy will be evil if you are good, your philosophy will adjust to the nature of your soul. Think with your brain and soul together at once and you will never do wrong.

Are you really comparing Africa to Europe? Europe has had CENTURIES to acquire wealth and power. Sub-Saharan Africa has just been opened up for investment and trade within the past 50-60 years; you can't expect much to have occurred in such a short time. In the case of Israel, they've been receiving billions upon billions of yearly no-strings-attached aid for decades; do you really think they're a good example of what a country can accomplish on their own merits?

I am being very serious right now and what I have said is true. Nigeria needs to follow[b] the Chinese model.[/b] That is the only way we can break through this link of neocolonialism.

Is Nigeria Africa's star? The only country taking development seriously? Yes Nigerias has potential but you have to recognize development in other countries on the continent. Tanzania, Rwanda (yes yes it appears to be), like 9jaganja said Namibia & Botswana, Gabon, South Africa, Tunisia, Egypt, GHANA, Angola, South Africa, etc.

paddy_lo:

I will give u EGYPT and South AFRICA (Though EGPYT wants to be known as an ARAB country). .ANGOLA(for the future)

The rest of the countries u name can never be Africas star. .countries like Botswana and Namibia with less than 3million ppl. . and one city can never be Africas star

Like everyone said here,look at the countries making waves. .Brazil. .Russia. .India, China, Indonesia. .

U cant go to Asia and tell me Taiwan is the star

Or go to Europe and tell me swissland is the star,when u have France and Germany

[color=#550000]The point is for Africa to shine the big countries will have to pull their weight

ADint:

@paddy_lo

Am going with some of your flow here. . .

For those saying size/population does not matter, you only have to look at the BRIC countries - min population 140m, max 1.3 billion, translating to over 40% of the worlds population.

The old world order no longer holds; the era where small commercially and technologically aware countries control the vast majority is drawing to a close. The new economic titans that are now emerging have now realised what huge advantages their pop. gives them, coupled with a rediscovered entrepreneurship makes this a potent combination in this new world order - commercial, business or technological know-how where it is lacking, can now be easily bought-in.

This is why, for example, almost every major corporation in the world are outdoing themselves to get a foothold in China. These are the markets of the future.

No Jobs for Young Ghanaians Till 2013
31-May-2010

Until 2013, there will be no formal employment in the public sector for fresh graduates since the current macroeconomic policy framework, a three-year stabilization programme agreed with the International Monetary Fund (IMF) by government does not permit so.

This means many young people who would graduate from tertiary institutions from 2010 to 2012, and those who graduated in 2008 and 2009, are at risk of being at home for a very long time.

As part of fiscal stabilization programme, which led the nation to borrow about $1.2 billion from IMF, public sector employment was frozen, starting from 2009, a situation most economists and analysts described as harsh and would therefore hurt the economy.

9jaganja:

Wow ezechue your last post was really ignorant. Cause we have a bad model of democracy doesn't mean we should keep destroying it. And no cheap labour will only save investors while enslaving Nigerians. You ain't economically liberal. No tariff and no regulation is not liberal in any sense at all. Dude please really if others who knows nothing about world economy agrees with you, those who knows will frown at your last post. China has stakes in England too infact China has stakes all over the world. It's not just that England has stakes in China it's business buddy. Your world war story has nothing to do with what we are saying. That's rather irrelevant. Seriously I will rather not school you and let you figure things out. Cheap labour to save Nigerian economy? You seriously are calling for an uprising indirectly. China has the worst model of economy you can point out. Chinese citizens can't afford their own products. Is that what you want for Nigeria? No wonder we went through slavery when we have people thinking like you. Cheap labour is slavery and one of the reasons for slavery is cheap labour. You are not liberal in any way, you are evil at worst. Evil either sub consciously or just plain evil. Bring the factories into Nigeria now and see whether any Nigerian will want to work in a chemical plant that has substances that causes cancer, without health insurance and for a price they can hardly get by on. You are evil and greedy seriously!!!!

Ruq:

Was with as this silly comparison of China-a country with over a billion people to Nigeria with just 150m people. And you guys call your self economist?? Take 5 guys.

davidif:

EzeUche,
China is sitting on a powder keg. I read that around 2006, China had 50,000 rural uprisings (      ) and i was stunned, the average chinese might not know this because the govt. effectively censors the media to the point that in China, you cannot find Tianamen square when you use google in china. The people's republic of China is unsustainable and it would soon implode especially if they face a depression like Japan or the US in the 1930's or a drought, there would be whole societal upheavals and  even the communist party would be thrown out.

9jaganja:

One question Ezechue can you work for cheap as in below worth? Can you? You are being stoopid not realistic. Do you also know China has been inflating it's own currency intentionally? You want Nigerians to start taking part in Mail order brides business (Hope your sister will be sent to one old fart in Alabama). Cheap labour is exploitation of the poor and disenfranchised. It won't work in Nigeria it leads uprising. China will go down in no time. Look do you want education for all in Nigeria? Do you want all Nigerians to be able to afford happiness? If you do you won't want any Nigerian to work for cheap and exploitative rates. If you don't want happiness for all Nigerians but select few, then may Iyemoja mother of all send sorrow to you and those who don't want happiness for all. Have you been to China? I have and won't pray China for Nigeria even if my life depends on it. You are ignorant and uninformed. Go to China and see for your self.

Even if it will take Nigeria 300yrs to be a near perfect nation (Perfection is a limit things will always be better), let it be. Nothing good comes fast. China is suffering and so are Chinese people. How many mines has to collapse before the world know the working conditions of people there? How many babies has to drink from toxic cups before the world realize cheap labour is evil? If this is what you wish for Nigeria then I pray your baby drink tainted milk too or you work in an about to collapse mine. Go to China before you talk!!! You are misinformed about the world. I was there during the 2008 Olympics and the world look almost over when you go deep into China and see sorrow tears and blood. Nigerians aren't suffering compared to them.

Educate your self spiritually so whatever you can't take you won't do or advocate to others. Evil minded sadist!!!

EzeUche:

What you just said is pure rubbish. I have been to China on two occasions in which on one occasion I visited my older brother who works for an investment firm office in Shanghai. I had the luxury of visiting the rural areas of China and the urban areas so do not make uninformed statements about me. I have seen more of the world than you will ever see in your entire life.

What I am saying is more realistic to the plan, well  you have not even stated an opposing view so who knows what you think. At least the plan I wish Nigeria to pursue is more concrete and has already proven to work. The China of the 1970s under Mao Zaedong was not even industrialized, but now look at China. Many of its cities could be compared to the the cities of Europe.

People suffer everywhere. Go to Europe, you see people suffering, go to the "hoods" of the United States and people are suffering, but that does not equate to revolution. As long as there are scare resources in which a few will be able to benefit from these scarce resources while the majority will not, then there will be suffering in the world.

China will not go down anytime soon. It would be foolish to say so. Where are the signs of China failing? Actually China seems to be only rising and this is starting to worry the West. China investments can be found throughout the continent. China is here to stay. Learn about Chinese history and you will understand that the Chinese are a pragmatic people and were once the most advanced people in the world. They still have their ingenuity.

Now on to Nigeria following the Chinese model. Only the Chinese model will solve Nigeria's problems. Due to the fact that Nigeria is filled with many ethnic groups, there is a need for a centralized gov't. In addition, our economy must be restructured in a way that would attract businesses.

I prefer the Chinese model of EXECUTING corrupt politicians and businessmen. The Chinese do not play around when it comes to corruption and this is what Nigeria needs. Our laws are too easy, well if you could call it law and people get off way too easy in Nigeria.

And concerning the mines in China, you do know that China is still developing? You cannot automatically compare China with the West and its standard, because as a developing nation, it will come across problems as it exploits it own resources. Even in the United States, there was a time that many Americans died in mines and continue to die in mines.

redsun:

Ghana may not have a better economy than nigeria but they are more discipline,focus and idealistic as a country than nigeria.


Nigeria is like no man's land where the leaders are outright rogues,hindering the activities of hardworking and ambitious individuals whose efforts are keeping nigeria afloat,i.e,the market women,the farmers,the traders,national and international,the transporters and the handy men and women,name them,all those they call 'petty' are the backbones of nigeria

One of the significant characteristics of a flourishing and growing economy is a booming and blooming small and medium enterprises (SMEs) sector. Small and medium enterprises play an important role in the development of a country. SMEs contribute to economic development in various ways: by creating employment for rural and urban growing labor force, providing desirable sustainability and innovation in the economy as a whole .

In addition to that, a large number of people rely on the small and medium enterprises directly or indirectly.
Most of the current larger enterprises have their origin in small and medium enterprises. SMEs are different from large scale enterprises in three main aspects; uncertainty, innovation and evolution. The SME sector itself can be classified into micro enterprises, small enterprises and medium enterprises. SMEs are the starting point of development in the economies towards industrialization. However, SMEs have their significant effect on the income distribution, tax revenue, and employment, efficient utilization of resources and stability of family income.
According to the United Nations Industrial Development Organization UNIDO, for developing countries, integration into the global economy through economic liberalization, deregulation, and democratization is seen as the paramount way to triumph over poverty and inequality. Important to this process, is the development of an animated private sector, in which small and medium enterprises can play a central role.

SMEs have a propensity to employ more labor-intensive production processes than large enterprises. Consequently, they contribute significantly to the provision of productive employment opportunities, the generation of income and, eventually, the reduction of poverty.

According to the statistics, in industrialized countries, SMEs are major contributors to private sector employment. Empirical studies have shown that SMEs contribute to over 55% of GDP and over 65% of total employment in high income countries .SMEs and informal enterprises, account for over 60% of GDP and over 70% of total employment in low income countries, while they contribute about 70% of GDP and 95% of total employment in middle income countries.

SMEs play significant contribution in the transition of agriculture-led economies to industrial ones furnishing plain opportunities for processing activities which can generate sustainable source of revenue and enhance the development process. SMEs shore up the expansion of systemic productive capability. They help to absorb productive resources at all levels of the economy and add to the formation of flexible economic systems in which small and large firms are interlinked. Such linkages are very crucial for the attraction of foreign investment. Investing transnational corporations look for sound domestic suppliers for their supply chains.
SMEs are the major growing force behind the fastest growing economy of China, in terms of contribution to the national GDP (accounting for 40%), scale of assets, diversification of products, and the creation of employment. Similarly, the role of SMEs is well acknowledged in other countries such as Japan, Korea, and all other industrialized economies in terms of creating employment, reducing poverty and increasing the welfare of the society.
Experts and economists are unanimous about the role and importance of small and medium enterprises in the development of Pakistan economy. The statistical data and empirical studies about SMEs highlight the bulk share of SMEs in the economy. According to the Small and Medium Enterprises Development Authority (SMEDA), "SMEs constitute nearly 90% of all the enterprises in Pakistan; employ 80% of the non-agricultural labor force; and their share in the annual GDP is 40%, approximately?.


There are a number of factors responsible for the importance of SMEs in Pakistan. First, SMEs bolster an entrepreneurial spirit and put forward suppleness in the economy. Second, SMEs emanate the fastest growing export sub-sectors, such as cotton weaving and surgical instruments. Third, they can support the poverty alleviation endeavors through employment generation process. Above all, SMEs are more efficient in resource allocation as compare to that of large scale industry from a social point of view. They provide and facilitate the more number of people as compare to that of large scale industry.
It is levelheaded to say that Pakistan economy is an economy of SMEs. The significant role of SME is plainly indicated by research and statistics. However, efforts had remained restricted focusing on the large enterprises, and neglecting small and medium enterprises which are the bone back of the economy. For instance, institutions established to facilitate business activities, like Board of Investment (BOI), Export Promotion Bureau (EPB), Central Board of Revenue (CBR), etc, have been focused their efforts on large scale industry.
SMEs are a distinctive mainstay of the economy that requires owing attentiveness. The evidence shows that small firms are discriminated against relatively large firms. Large scale firms can cope and solve their hurdles due to possessing sound experience and financial position. SME due to their small size and the resulting peculiarities, are far less capable of adjusting and carrying on successful business. While spared direct statutory or administrative discrimination, SME remain subject to unequal treatment, which distorts the competitive environment for business.
There are also some hidden and apparent obstacles in the path of growth of small and medium enterprises in Pakistan. The most important are; political instability, law and order situation, financial constraints, energy crisis, taxation problems, labor issues, lack of coordination and regular information exchange mechanism among institutions, etc.
What it requires is to pursue the precise policy and regulatory reforms to turn SMEs into an effectual instrument for the enhancement of economic growth and employment. Furthermore, the milieu for SME is incessantly changing, especially in the scenario of globalization and openness of the economies. Therefore, the course of action for SMEs should be set for long-run period keeping in mind the predictable behavior of all stockholders.