Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,162,723 members, 7,851,472 topics. Date: Wednesday, 05 June 2024 at 08:12 PM |
Nairaland Forum / Nairaland / General / Politics / Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map (834 Views)
Man Offers To Cut Buhari's Hair For 1year To Save 86m Off The Nation's Budget / Ghana’s Debt Forces Nigeria To Cut Gas Supply By 50% / Abba Kyari Wants To Cut Off These 7 Ministers From Buhari - Sahara Reporters (2) (3) (4)
Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by Blue3k(m): 4:04pm On Mar 08, 2017 |
Nigeria plans to sell portions of its oil assets to help fund President Muhammadu Buhari’s four-year program to lift the economy from its worst slump in a quarter century and create 15 million jobs. Source: https://www.bloomberg.com/news/articles/2017-03-07/nigeria-to-cut-stake-in-oil-assets-under-buhari-s-economic-plan?cmpid=flipboard 2 Likes |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by Blue3k(m): 4:07pm On Mar 08, 2017 |
The economic recovery plan 2017-2020 is 140 pages I skimmed through a few parts and seen they did a lot of nice policies. The farming one is my favorite since it feels most thought out. The mineral sector and manufacturering will be long term biggest game changer. |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by omohayek: 8:55pm On Mar 08, 2017 |
I see lots of sensible proposals listed, but will this government find the political will to implement them? This is a government that still hasn't floated the Naira after 2 years of being urged to, and yet we are supposed to believe that they will allow the DISCOs to charge more realistic tariffs, especially with the 2019 elections drawing near? I just don't believe it. 1 Like |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by cstr55: 9:04pm On Mar 08, 2017 |
How prudent is it for a third world nation to complete sell off its already minority stakes in its largest earner? This is not a developed country where most of the buyers would be Nigerians which would ensure wealth remains in-country. The bulk of the buyers are foreigners and I am sure they are not very keen on spending a single second more in Nigeria than is necessary, so most of the profits would be transferred abroad. |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by omohayek: 9:08pm On Mar 08, 2017 |
cstr55:At least the foreigners would ensure there are actually profits to transfer! That is better than can be said for any of Nigeria's state-owned enterprises, or even the privatized ones that were sold to Nigerians under the delusion of ensuring "wealth remains in-country": that is exactly how we ended up with under-capitalized DISCOs that are now on the verge of bankruptcy. 2 Likes |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by cstr55: 9:25pm On Mar 08, 2017 |
omohayek:That is why you need to elect much better presidents and leaders with a capitalistic bent that would re-jig the system and ensure government coys thrive and are maximized in-house. Yes, it would seem easier and better to just sell-off the assets and look forward to taxes from the white owners, but true national wealth and development and independence will never come that way. And btw, It is not that Nigeria can not get thriving govt-owned coys, it is just a problem of organization and discipline- both of which comes from an innovative leadership. And it is a shame though, because just selling-off your assets to foreigners may result in more profits and jobs in the short run, but the national technical base would remain stunted and Nigeria may never escape the third world trap the way china and india did. 1 Like |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by Blue3k(m): 9:33pm On Mar 08, 2017 |
omohayek: The free floating currency won't happen. I didn't see it mentioned anywhere in report. These politicians know exactly what's needed but don't seem to have will. They would rather pander to National sentiment instead of economic facts. It's sort of how AP Osinbajo said oil companies should move HQ to ND. People celebrated like he could order them to. 1 Like |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by omohayek: 10:39pm On Mar 08, 2017 |
cstr55:But nearly all of China's growth has been precisely through private-sector investments made by foreigners - first the Japanese and the Taiwanese, then the South Koreans and the Americans (eg Apple): http://www.tradingeconomics.com/china/foreign-direct-investment China's state-owned enterprises are both extremely inefficient and highly-indebted: http://www.reuters.com/article/china-debt-moodys-idUSL3N1872L0 The idea that government has the answer is what has led Nigeria to go around in circles for nearly 6 decades - it simply doesn't work. It doesn't matter how much "discipline" you try to put into the system, the end result will still be failure, as we have seen twice now with Buhari. The zero-sum thinking you have about economic growth is simply misplaced: foreign investors help create wealth, and there's nothing wrong with allowing them to repatriate their share of the new wealth they create, any more than a partner who backed you in a venture by funding you would be "wrong" to expect a share of the profits. 2 Likes |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by cstr55: 10:45pm On Mar 08, 2017 |
omohayek:The Chinese govt did not sell her national assets. Yes, private investors looking for cheap labour came in and invested but that is a different kettle of fish. The Chinese government holds complete control over power, energy, civil construction companies(CCECC), and other major essential companies. Most of the private coys in china are essential ''new companies'' looking to capitalize on cheap labour. They did not take control of china's national assets, which is not possible anyway in a communist nation. Yes, foreign investors create wealth and I am an advocate of a deregulated economy, but we need to be careful too. Third world nations need specialized brand of economics to ensure that the citizens and the nation are not shortchanged, and impoverished in the long run by the more sophisticated foreign ''invaders'' with years of trade and commercial experience. 1 Like |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by Ndiofe: 10:45pm On Mar 08, 2017 |
Trash he is selling oil in Katsina ni to private investors. Can they not progress without NigerDelta Oil? Can Nigeria not do anything without NigerDelta oil? |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by Blue3k(m): 11:00pm On Mar 08, 2017 |
Ndiofe: Did you stop reading after title? Yes they are reliant on ND oil but they seem to be in midst of trying to diversify. Read the report if you please. Growing past ND oil isn't complicated they just need to industrilization policy. None of us feel super confident about how much they will actualize. https://www.nairaland.com/3624845/how-make-niger-delta-oil https://www.nairaland.com/3496315/long-term-agriculture-not-way |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by mykeljosef: 2:36am On Mar 09, 2017 |
ok |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by trillville(m): 5:22am On Mar 09, 2017 |
Blue3k: please where can i find a copy of the document? |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by Blue3k(m): 5:24am On Mar 09, 2017 |
2 Likes |
Re: Nigeria To Cut Stake In Oil Assets Under Buhari's Growth Map by trillville(m): 6:01am On Mar 09, 2017 |
1 Like |
(1) (Reply)
What's Wrong With Sai Baba? I Just Feel He Is Greedy Of Power / PDP Chieftain Formally Decamps To APC / [BREAKING] Seized N3bn: Court Remands Ex-nnpc Boss Yakubu In Kuje Prison
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 51 |