samsard:
Seun, even if you didn't read economics, you should be much smarter than this. Interesting old thread here.

lol

samsard:
Seun, even if you didn't read economics, you should be much smarter than this. Interesting old thread here.

Actually, I take pride in my understanding of the fundamentals of Economics and I think it helps me a lot, but at the time I created this thread I was allowing my political preference for Libertarianism to cloud my judgment of Economy issues. I no longer think that this is a great idea. It's still better than what we're currently doing:- using most of our earnings to promote importation and the consumption of petrol and kerosene.

Seun:
When the people of Alaska discovered that their politicians were not managing the oil revenues according to their interests, they decided to create a government-managed corporation that would invest the oil revenues from the state in the capital market and then pay yearly dividends to every citizen of the country, rich or poor!

The political crisis in the Niger Delta area would not exist if we had such an arrangement. Instead of foolishly trusting our corrupt politicians to manage our oil revenue for "us" (i.e. themselves), we should organize something like that in Nigeria. If the oil belongs to Nigerians, then the money that the oil is generating should be paid to us!

When that dividend is paid, then it will be the duty of every Nigerian to spend it wisely. How do you see this?

for your mind you believe Nigerians will spend the money wisely ba
always think long term