Keep deceiving yourselves the reason why they are coming into nigeria is because anything goes here. They knew once they pass ghana must go under the tables of our law makers and executives they would grant them concession to operate any how they like. They knew that it is only in nigeria you can get cheap labour where they can hire anyhow and sack anyhow. They know the government of Nigeria do not care about its citizens and are ready to do anything for their own pockets. They knew it is only in Nigeria that a foreign unemployed school cert can be made to boss a nigerian Msc holder because the work is for their people and not ours. SMH for this country. Where are our own indigenous biz men and women? They are busy laundering our money abroad to better akata country. Nigeria economy is growing indeed!

naptu2: This is the reason why I like democracy. It provides the right environment for investment to thrive. Note that it's not only foreign investment that is increasing, but domestic investment is also increasing. Nigerian companies are blooming and expanding across Africa. Think of the Dangote Group, Silverbird, Globacom, Zenith Bank, Oando, etc. If we were under military rule these sectors would have been controlled by loss making public corporations that only serve as a conduit for corruption.

Check out the massive investment in infrastructure that's going on across the country (although I wish that some of the projects would move at a faster pace). Politicians now know that they have to deliver development or they would be booted out (or at least shamed). This is unlike military dictators who don't care what the people think because they came to power via the barrel of the gun. Think of the Lagos Rail Project, the Abuja Rail Project, the revival of the NRC, the improvement and planned concessioning of airport terminals, MMA II, the BRT system, Eko Atlantic, Ibaka Seaport, the Lekki Cable Stayed Bridge, the NIPP Project (although this project was delayed by the Yar'Adua regime), etc. I'm convinced that these projects would not have seen the light of day if we were under military rule.

Nigeria is blessed and can actually become a global economic powerhouse. Our biggest problem is political instability.

Very well written. As for political instability, I'm sure Boko Haram by now are feeling the weight of the Nigerian people on them, hence their recent silence.

The poster is telling lies.
See https://www.nairaland.com/1311246/insecurity-north-niger-delta-scaring

Orikinla: The poster is telling lies.
See https://www.nairaland.com/1311246/insecurity-north-niger-delta-scaring

You really have no shame do you? Every post I made was backed with links as diverse as Ventures Africa, Business Day Online, Reuters, Bloomberg, BBC, ITN news, Daily Mail, The Jakarta Post, Guardian, Vanguard, Thisday, Tribune, Punch, et al.... Unless you're saying that Mr President somehow contrived to bribe all these news agencies to manufacture news of investments... In which case it is between you and your psychiatrist.

larrysng: Keep deceiving yourselves the reason why they are coming into nigeria is because anything goes here. They knew once they pass ghana must go under the tables of our law makers and executives they would grant them concession to operate any how they like. They knew that it is only in nigeria you can get cheap labour where they can hire anyhow and sack anyhow. They know the government of Nigeria do not care about its citizens and are ready to do anything for their own pockets. They knew it is only in Nigeria that a foreign unemployed school cert can be made to boss a nigerian Msc holder because the work is for their people and not ours. SMH for this country. Where are our own indigenous biz men and women? They are busy laundering our money abroad to better akata country. Nigeria economy is growing indeed!

you're not making sense bro

I think Nigeria should focus majorly on small scale industries. It is good having foreign investors coming in, if it is true. People can start doing something for themselves. China and most of the Asian Tigers promoted more of their small scale which turned into medium scale businesses that exports their produce. This is how wealth was created for the country and indirectly to the populace. This is another half of the year, in case you are bereft of business ideas, read up my thread and get something doing:

https://www.nairaland.com/1163912/funds-not-business-actually-need

God bless!

Growth without development: A response to the President’s Economic Team.

‘

In recent times, the economists have been recognizing in colonial and pre-colonial Africa, a pattern that has been termed “growth without development”. That phase has now appeared as the title of books on Liberia and Ivory Coast. It means that goods and services of a certain type are on the increase. They may be rubber and coffee exported, there may be more petrol station built to service the cars. But the profit goes abroad, and the economy becomes more and more dependency on the metropoles. In no African colony was there economic integration, or any provision for making the economy self-sustaining and geared to its own local goals. Therefore, there was growth of the so called “enclave” import/export sector, but the only things which developed were dependency and under-development.
A further revelation of growth without development … was the over dependency on one or two export. The term “monoculture” is used to describe those colonial economies ….’

Walter Rodney, How Europe underdeveloped Africa, 1972 (page. 284).

The above was the case thirty years ago, in 1972; and still is. This was observed, analysed with solutions given by a renowned activist cum scholar, Walter Rodney – a hero that rivaled Malcom X, Martin Luther King and the rest, in his love for our race; one that was wickedly assassinated in 1980, for his principled fight against all oppressors. We must ask: why has economic geniuses at Aso Rock failed to get this simple truth?

Since the days of IBB, when SAP was imposed on us against our wish, we have been bombarded with figures, show-casing the growth of this economy. In particular, Okwonjo Iweala, both during Obasanjo’s regime and in the present Jonathan administration, has persistently poured out figures to justify the growth of our economy. When we complain about an obvious dying economy, they bamboozle us with growth numbers. Yet they could not explain why our companies have been closing up; they could not disprove the fact that our people are having fewer jobs every day; nor justify the ever dwindling quality of our lives.

When we call them names; people think we are troublesome. The people fail to tie the links between our past and our present, and how these people that called themselves our leaders have proved over the years to be either “un-intelligent” or willfully anti-masses and sellouts.

How else can one explain that a basic truth revealed over thirty years ago; not in a hidden treasure, but in a popular book by a popular author whose works and life was known to scholars of history and the international socio-economics cannot be understood? How can a disease that was perfectly diagnosed still be ravaging our economy and our people, thirty years after? Why has no one been able to imbibe and follow-through the ideas laid bare by Walter in his analysis?

Are we to believe, they are agents meant to keep us permanently underdeveloped, or unwitting accomplices of the powers that want us permanently down? In seeking to answer this question, taking into cognizance the millions of lives that have been allowed to waste because our so-called leaders and geniuses failed to do the right thing; we do loose our cool and call them names. Seriously, those that lack the intelligence or the gut to make sound economic decisions required to improve the lives of our people should take the back seat, and let the country progress. They should head to their villages; even with our stolen funds.

A President that cannot reshape our economy should give us a break; so shall his ministers. Our lives and wellbeing, as Nigerians is worth more than the ambition of any man or any tribe. The economy of Nigerians; the lives of the millions of Nigerian youths wasting without jobs is our supreme challenge that must be solved.

I know that the North who has produced more Presidents than the southern part is not better than us. The Yoruba race did not benefit more from Obasanjo’s eight years rule than others. We know they’ve empowered few of their tribe’s men and friend, in our usual corrupt ways; but the lives of an average Northerner and Yoruba man benefitted nothing. It is therefore, worthy when we fight, even at the risk of our lives, to “once in a life-time” elect a government that can start to tackle the “African problem”. Ethnic politics and sentiments that leave us with stooges, who lack solutions to our malaise as a country must not be tolerated.

Therefore, it is shameful that Okwonjo Iweala and her team, who confesses to several Harvard degrees and years of working experience in World Bank and IMF, cannot get a simple truth hidden in a simple book, by a simple hero – Walter Rodney. It is appalling that those that rush to London and New York in search of remedies to cure our land; failed to look beside their noses, in a remedy revealed thirty years ago in our own African soil, by a fellow Black compatriot. I need not say that the solutions to our socio-economic problems as a people are here with us, if only we can think and open our eyes.
When we lament the massive brainwash in our land; when we say that their years in World Bank was meant to groom them as perfect stooges, our people fail to understand. When we call them sellout, few believe us. But we take solace in the fact that posterity will prove us right.

In one last attempt to prove our case against them, I our people to ask a simple question: why would the same people that supervised the throwing away of $16billion dollars in payment of a fraudulent debt few years ago, be leading us back to borrowing in the midst of increasing oil revenue. My answer is that the relation between Nigerian and their masters is like that between a Bank and its customers.

A bank exists to make money off its uninformed customers. A bank would not mind a customer saving deposit and borrowing at the same time, because it will always make a margin from the differential between the lending and the deposit rate. The economic team either know this very well and willingly chooses not to protect us; or worse still, have unwittingly been brainwashed to copy whatever lies, their masters at IMF and World Bank have proffered to us, and paste on us as solution. “Copying and pasting” is intellectual fraud; Offering solutions copied from books or persons without proper testing in foolish.

In 1979, Obasanjo was lured into borrowing when we had no need for it. Their argument is that nations are expected to borrow. Today, we are back to it. Old arguments have been resuscitated to prove that Nigerian is under-borrowing. But to the simple sincere mind, I ask: do we borrow for fun?

I challenge, Okwonjo Iweala to show how she has expanded the number of Nigerian jobs in the oil and gas sector? She should show us which benefits from the massive oil industry have trickled down to the lives of an average Nigerian? She should tell us what efforts have been made in the past fourteen years of PDP rule, to define our economy based on our indigenous needs? She should explain how she managed to overlook the massive outflows of money and resources from our economy to the home of her masters in London and New York?

Daily, they tell us the size of the trade between Nigeria and countries of their masters. They tell us that the figures have been growing. But they hide the fact that the figures represent massive outflow of resources and finance out of our economy. We know we have been trading with the West for over 500 years ago. Walter Rodney showed how the terms of the trade have left us worse off. He proved that the terms were imposed on our fore-fathers with the force of arm. Today, our geniuses have refused to re-negotiate these ever changing unfair terms that have killed our economy. We keep engaging in an economic game as defined by our competitor who has made themselves the umpire, and expect to win. We have countries like China and the Asian powers; we have the countries of South America as examples to follow – countries that refused unfavourable terms of trade for the good of their economies.

The other day, a later day convert, Soludo took up columns in newspapers to warn of an impending disaster if we are to agree to new trade terms by European Union. He perfectly called it second slavery. I am yet to know Okwonjo’s response to it. I am yet to learn how my country wants to check us from those dangerous trade terms. I have no trust that they will represent our nation’s interest, because on several instances they have sold out.

Okwonjo Iweala as a student of economy and one who has been at the World Bank/IMF circles to clearly understands the basic economic principles that drives World Free Trade; knows that goods and services counts like labour as tradables in economics. She knows that free movement of labour will have same impact on world economy as free movement of goods and services. But she failed to make a case for free movement of labour in the manners they imposed free movement of goods and services on us. She failed to advise the government to make a case that will be in our benefit. So, she either lack what it takes to fight for us as a people, or has willfully taken side with our oppressors.

I was discriminated upon in Britain when I was searching for jobs, with all necessary work permits as required by their laws. The unwritten rule is jobs for White Europeans first. But in my own country, I was told a choice job was reserved for Europeans. The essence of working permit is to control movement of labour; and it is for the disadvantage of third world economies. Has Okwonjo as an “intellectual” that she pretends to be, ever challenged the unfair system? If we are to allow free movement of goods and services across our borders; are we not supposed to allow free movement of labour, since both are guided by same rule in Economics? This cannot be, because it is not in the interest of Okwonjo Iweala’s masters.

I challenge every Nigerian scholars go through what Walter Rodney have for us in his book: “How Europe underdeveloped Africa”; and observe how this so-called leaders have failed to change our present from our yesteryears. I want my people to see how the growth without development of our economy is a consequence of the massive resources being taken out of our land, by foreign interests whom this series of government we have had protects.

If the successive increase in our output have been reinvested over the years, our economy would have been much better; our people would have had more jobs. If the likes of Shell, Chevron, Mobil, Total and the rest have been compelled to re-invest a certain percentage of the billion dollars they repatriate home yearly as profits; our graduate would have had more jobs.

These cannot be because ours is a “Flag Independence”.


http://godmanaleke..com/2013/06/growth-without-development-response-to.html

kayjegs: I think Nigeria should focus majorly on small scale industries. It is good having foreign investors coming in, if it is true.

If it is true? Please..

Godman_n: Growth without development: A response to the President’s Economic Team.

‘

Walter Rodney, How Europe underdeveloped Africa, 1972 (page. 284).

The above was the case thirty years ago, in 1972; and still is. This was observed, analysed with solutions given by a renowned activist cum scholar, Walter Rodney – a hero that rivaled Malcom X, Martin Luther King and the rest, in his love for our race; one that was wickedly assassinated in 1980, for his principled fight against all oppressors. We must ask: why has economic geniuses at Aso Rock failed to get this simple truth?

Since the days of IBB, when SAP was imposed on us against our wish, we have been bombarded with figures, show-casing the growth of this economy. In particular, Okwonjo Iweala, both during Obasanjo’s regime and in the present Jonathan administration, has persistently poured out figures to justify the growth of our economy. When we complain about an obvious dying economy, they bamboozle us with growth numbers. Yet they could not explain why our companies have been closing up; they could not disprove the fact that our people are having fewer jobs every day; nor justify the ever dwindling quality of our lives.

When we call them names; people think we are troublesome. The people fail to tie the links between our past and our present, and how these people that called themselves our leaders have proved over the years to be either “un-intelligent” or willfully anti-masses and sellouts.

How else can one explain that a basic truth revealed over thirty years ago; not in a hidden treasure, but in a popular book by a popular author whose works and life was known to scholars of history and the international socio-economics cannot be understood? How can a disease that was perfectly diagnosed still be ravaging our economy and our people, thirty years after? Why has no one been able to imbibe and follow-through the ideas laid bare by Walter in his analysis?

Are we to believe, they are agents meant to keep us permanently underdeveloped, or unwitting accomplices of the powers that want us permanently down? In seeking to answer this question, taking into cognizance the millions of lives that have been allowed to waste because our so-called leaders and geniuses failed to do the right thing; we do loose our cool and call them names. Seriously, those that lack the intelligence or the gut to make sound economic decisions required to improve the lives of our people should take the back seat, and let the country progress. They should head to their villages; even with our stolen funds.

A President that cannot reshape our economy should give us a break; so shall his ministers. Our lives and wellbeing, as Nigerians is worth more than the ambition of any man or any tribe. The economy of Nigerians; the lives of the millions of Nigerian youths wasting without jobs is our supreme challenge that must be solved.

I know that the North who has produced more Presidents than the southern part is not better than us. The Yoruba race did not benefit more from Obasanjo’s eight years rule than others. We know they’ve empowered few of their tribe’s men and friend, in our usual corrupt ways; but the lives of an average Northerner and Yoruba man benefitted nothing. It is therefore, worthy when we fight, even at the risk of our lives, to “once in a life-time” elect a government that can start to tackle the “African problem”. Ethnic politics and sentiments that leave us with stooges, who lack solutions to our malaise as a country must not be tolerated.

Therefore, it is shameful that Okwonjo Iweala and her team, who confesses to several Harvard degrees and years of working experience in World Bank and IMF, cannot get a simple truth hidden in a simple book, by a simple hero – Walter Rodney. It is appalling that those that rush to London and New York in search of remedies to cure our land; failed to look beside their noses, in a remedy revealed thirty years ago in our own African soil, by a fellow Black compatriot. I need not say that the solutions to our socio-economic problems as a people are here with us, if only we can think and open our eyes.
When we lament the massive brainwash in our land; when we say that their years in World Bank was meant to groom them as perfect stooges, our people fail to understand. When we call them sellout, few believe us. But we take solace in the fact that posterity will prove us right.

In one last attempt to prove our case against them, I our people to ask a simple question: why would the same people that supervised the throwing away of $16billion dollars in payment of a fraudulent debt few years ago, be leading us back to borrowing in the midst of increasing oil revenue. My answer is that the relation between Nigerian and their masters is like that between a Bank and its customers.

A bank exists to make money off its uninformed customers. A bank would not mind a customer saving deposit and borrowing at the same time, because it will always make a margin from the differential between the lending and the deposit rate. The economic team either know this very well and willingly chooses not to protect us; or worse still, have unwittingly been brainwashed to copy whatever lies, their masters at IMF and World Bank have proffered to us, and paste on us as solution. “Copying and pasting” is intellectual fraud; Offering solutions copied from books or persons without proper testing in foolish.

In 1979, Obasanjo was lured into borrowing when we had no need for it. Their argument is that nations are expected to borrow. Today, we are back to it. Old arguments have been resuscitated to prove that Nigerian is under-borrowing. But to the simple sincere mind, I ask: do we borrow for fun?

I challenge, Okwonjo Iweala to show how she has expanded the number of Nigerian jobs in the oil and gas sector? She should show us which benefits from the massive oil industry have trickled down to the lives of an average Nigerian? She should tell us what efforts have been made in the past fourteen years of PDP rule, to define our economy based on our indigenous needs? She should explain how she managed to overlook the massive outflows of money and resources from our economy to the home of her masters in London and New York?

Daily, they tell us the size of the trade between Nigeria and countries of their masters. They tell us that the figures have been growing. But they hide the fact that the figures represent massive outflow of resources and finance out of our economy. We know we have been trading with the West for over 500 years ago. Walter Rodney showed how the terms of the trade have left us worse off. He proved that the terms were imposed on our fore-fathers with the force of arm. Today, our geniuses have refused to re-negotiate these ever changing unfair terms that have killed our economy. We keep engaging in an economic game as defined by our competitor who has made themselves the umpire, and expect to win. We have countries like China and the Asian powers; we have the countries of South America as examples to follow – countries that refused unfavourable terms of trade for the good of their economies.

The other day, a later day convert, Soludo took up columns in newspapers to warn of an impending disaster if we are to agree to new trade terms by European Union. He perfectly called it second slavery. I am yet to know Okwonjo’s response to it. I am yet to learn how my country wants to check us from those dangerous trade terms. I have no trust that they will represent our nation’s interest, because on several instances they have sold out.

Okwonjo Iweala as a student of economy and one who has been at the World Bank/IMF circles to clearly understands the basic economic principles that drives World Free Trade; knows that goods and services counts like labour as tradables in economics. She knows that free movement of labour will have same impact on world economy as free movement of goods and services. But she failed to make a case for free movement of labour in the manners they imposed free movement of goods and services on us. She failed to advise the government to make a case that will be in our benefit. So, she either lack what it takes to fight for us as a people, or has willfully taken side with our oppressors.

I was discriminated upon in Britain when I was searching for jobs, with all necessary work permits as required by their laws. The unwritten rule is jobs for White Europeans first. But in my own country, I was told a choice job was reserved for Europeans. The essence of working permit is to control movement of labour; and it is for the disadvantage of third world economies. Has Okwonjo as an “intellectual” that she pretends to be, ever challenged the unfair system? If we are to allow free movement of goods and services across our borders; are we not supposed to allow free movement of labour, since both are guided by same rule in Economics? This cannot be, because it is not in the interest of Okwonjo Iweala’s masters.

I challenge every Nigerian scholars go through what Walter Rodney have for us in his book: “How Europe underdeveloped Africa”; and observe how this so-called leaders have failed to change our present from our yesteryears. I want my people to see how the growth without development of our economy is a consequence of the massive resources being taken out of our land, by foreign interests whom this series of government we have had protects.

If the successive increase in our output have been reinvested over the years, our economy would have been much better; our people would have had more jobs. If the likes of Shell, Chevron, Mobil, Total and the rest have been compelled to re-invest a certain percentage of the billion dollars they repatriate home yearly as profits; our graduate would have had more jobs.

These cannot be because ours is a “Flag Independence”.


http://godmanaleke..com/2013/06/growth-without-development-response-to.html

Many errors in this write up, and many unfounded assumptions. For instance, international oil companies are now obliged by law to invest in public infrastructure projects like power plants before they can be allowed to operate in Nigeria's oil and gas industry. Also the Local Content Act, whose existence you seem unaware of, has opened the field for indigenous firms to participate extensively in the oil industry. Also, nations like Brazil, South Africa, Ghana and India are practicing pretty much the same economic model as Nigeria is, and their growing success shows we can also be successful. The thing about basing your ideas on writers like Walter Rodney is that you become intellectually fixed, like him, on an inflexibly negative trajectory, even when daily events run contrary to your conclusions.

Rossikk: Many errors in this write up, and many unfounded assumptions. For instance oil companies are now obliged by law to invest in public infrastructure projects like power plants before they can be allowed to operate in Nigeria's oil and gas industry. Also the Local Content Act, whose existence you seem unaware of, has opened the field for indigenous firms to participate in the oil industry. Also, nations like Brazil, South Africa and India are practicing pretty much the same economic model as Nigeria is, and their growing success shows we can also be successful.

Very patriotic, but stop posting lies here.

Orikinla:

Very patriotic, but stop posting lies here.

Go and get an education. You're clearly under-educated.

Austine.E:
...i think GEJ has really done well for this country,though he is on the quiet side but truly a silent achiever!my only concern is that non of the investments seems to be going to the north where i honestly think is most needed!this must be a price the north is paying for their self-inflicted instability!

Not really bro, the minister of agric has been making some positive changes and northern farmers are benefiting. Also, if the power sector reforms remain on track the textile industry (which has a strong presence in the north) will be revived. I believe that things will get better and there'll be something for every region

game_changer:

Not really bro, the minister of agric has been making some positive changes and northern farmers are benefiting. Also, if the power sector reforms remain on track the textile industry (which has a strong presence in the north) will be revived. I believe that things will get better and there'll be something for every region

The textile sector is already seeing a huge revival.

Rossikk: Many errors in this write up, and many unfounded assumptions. For instance, international oil companies are now obliged by law to invest in public infrastructure projects like power plants before they can be allowed to operate in Nigeria's oil and gas industry. Also the Local Content Act, whose existence you seem unaware of, has opened the field for indigenous firms to participate extensively in the oil industry. Also, nations like Brazil, South Africa, Ghana and India are practicing pretty much the same economic model as Nigeria is, and their growing success shows we can also be successful. The thing about basing your ideas on writers like Walter Rodney is that you become intellectually fixed, like him, on an inflexibly negative trajectory, even when daily events run contrary to your conclusions.

The oil companies are obliged by law to build infrstructures. Can you please name some of the infrastructtures provided?

Yes, the Local content policiy is a long overdue. How much have they enforced it? And why did we have to wait until now?

What about all the things we use in this country? Can't we at least get back our car/bus assembly plants and protect them. I mean Anamco, Peuguet, volkswagens and co.

What about teh rice that we still import massively? What about Cement? How far have government gone to mechanise our farms and make it friendly?

What about importing plastic waste bins from UK that GEJ tried? In Enugu state, they imported iron watse bins. Are we not better off with even baskets? Jobs will be created with that.

Almost all the major Banking Application in Nigeria is imported. Finacle in particular is just a web application; yet billions are paid annualy as maintenance fees. In UK, I have seen banks use excel sheets to great affects. Their banks develop their applications inhouse. Job are created by that. In Nigeria, we rather buy any rubish.

Defunct Savannah bank paid out over 800million naira then to buy a rubbish banking application.

Development started from our head. We must first build a self-believe in our people. We must remove the inferiority complex that Colonialisation built inside our people. This is the basics for any reasonable government.

Our government spent billions buying a fake satelite because the British wanted us to buy and not because it is our needs. So they also wanted us to buy minature nuclear reactors until what happened in Japan scared hell out of them.

(I know much about the nuclear reactors and how it was packaged. You guys should search for information for the good of our country. I have less time to be writing in order to spoon feed you with facts. You should immagine that i am stealing my management time to be writing this. I am supposed to be working to justify my salary)

Godman_n:

The oil companies are obliged by law to build infrstructures. Can you please name some of the infrastructtures provided?

Yes, the Local content policiy is a long overdue. How much have they enforced it? And why did we have to wait until now?

What about all the things we use in this country? Can't we at least get back our car/bus assembly plants and protect them. I mean Anamco, Peuguet, volkswagens and co.

What about teh rice that we still import massively? What about Cement? How far have government gone to mechanise our farms and make it friendly?

What about importing plastic waste bins from UK that GEJ tried? In Enugu state, they imported iron watse bins. Are we not better off with even baskets? Jobs will be created with that.

Almost all the major Banking Application in Nigeria is imported. Finacle in particular is just a web application; yet billions are paid annualy as maintenance fees. In UK, I have seen banks use excel sheets to great affects. Their banks develop their applications inhouse. Job are created by that. In Nigeria, we rather buy any rubish.

Defunct Savannah bank paid out over 800million naira then to buy a rubbish banking application.

Development started from our head. We must first build a self-believe in our people. We must remove the inferiority complex that Colonialisation built inside our people. This is the basics for any reasonable government.

Our government spent billions buying a fake satelite because the British wanted us to buy and not because it is our needs. So they also wanted us to buy minature nuclear reactors until what happened in Japan scared hell out of them.

(I know much about the nuclear reactors and how it was packaged. You guys should search for information for the good of our country. I have less time to be writing in order to spoon feed you with facts. You should immagine that i am stealing my management time to be writing this. I am supposed to be working to justify my salary)

The problem with people like you is that instead of you to go out there and research what is happening, you sit somewhere assuming nothing is happening, and then you start throwing these rhetorical questions about like anyone has the time to educate you on developments. I don't. If YOU cannot be bothered to research the answers to your rhetorical questions, I can't be bothered schooling you either.

Godman_n:

The oil companies are obliged by law to build infrstructures. Can you please name some of the infrastructtures provided?

Yes, the Local content policiy is a long overdue. How much have they enforced it? And why did we have to wait until now?

What about all the things we use in this country? Can't we at least get back our car/bus assembly plants and protect them. I mean Anamco, Peuguet, volkswagens and co.

What about teh rice that we still import massively? What about Cement? How far have government gone to mechanise our farms and make it friendly?

What about importing plastic waste bins from UK that GEJ tried? In Enugu state, they imported iron watse bins. Are we not better off with even baskets? Jobs will be created with that.

Almost all the major Banking Application in Nigeria is imported. Finacle in particular is just a web application; yet billions are paid annualy as maintenance fees. In UK, I have seen banks use excel sheets to great affects. Their banks develop their applications inhouse. Job are created by that. In Nigeria, we rather buy any rubish.

Defunct Savannah bank paid out over 800million naira then to buy a rubbish banking application.

Development started from our head. We must first build a self-believe in our people. We must remove the inferiority complex that Colonialisation built inside our people. This is the basics for any reasonable government.

Our government spent billions buying a fake satelite because the British wanted us to buy and not because it is our needs. So they also wanted us to buy minature nuclear reactors until what happened in Japan scared hell out of them.

(I know much about the nuclear reactors and how it was packaged. You guys should search for information for the good of our country. I have less time to be writing in order to spoon feed you with facts. You should immagine that i am stealing my management time to be writing this. I am supposed to be working to justify my salary)

The problem with people like you is that instead of you to go out there and research what is happening, you sit somewhere assuming nothing is happening, and then you start throwing these rhetorical questions about like anyone has the time to educate you on developments. I don't. If YOU cannot be bothered to research the answers to your rhetorical questions, I can't be bothered with schooling you either.

Rossikk: If it is true? That comment just showed you up to be not very smart at all.

I dont think it is up to that; saying I am not smart. We all know that it is illogical for foreign investors to just troop in, into Nigeria looking at the trend of things. You know this. We are just being optimistic about something better to come and not that it has actually come. Has any of these foreign inputs actually translated to a better economy? The foreigners that you said are coming in, are those that have been on ground already and of course have understood what the market is about and can easily inject funds into their already existing investments. But for someone new, I am very sorry. It does not work that way. I think you need to know how Nigeria is being perceived by Foreign business men even though it may not be like they see it. I have a little experience on that when I was out of the shores of this country. Thanks for creating this thread anyway for me to comment.

kayjegs:

I dont think it is up to that; saying I am not smart. We all know that it is illogical for foreign investors to just troop in, into Nigeria looking at the trend of things. You know this. We are just being optimistic about something better to come and not that it has actually come. Has any of these foreign inputs actually translated to a better economy? The foreigners that you said are coming in, are those that have been on ground already and of course have understood what the market is about and can easily inject funds into their already existing investments. But for someone new, I am very sorry. It does not work that way. I think you need to know how Nigeria is being perceived by Foreign business men even though it may not be like they see it. I have a little experience on that when I was out of the shores of this country. Thanks for creating this thread anyway for me to comment.

Sorry but you cannot invent your own facts. Investors are trooping into Nigeria. End of story. Nigeria is among the fastest growing economies on earth. End of story. Nigeria is approaching the position of largest economy in Africa, with a 7 percent annual GDP growth rate, making it an investment destination of choice for the world's businesses. Nigeria posts one of the highest returns on investment of any country on earth. Her stock market is yielding profits of up to 40 percent per annum for investors, an unheard of figure in western nations. The middle class is expanding at an unprecedented rate. These are ALL easily verifiable facts. Therefore, it should not surprise you that investors are pouring into Nigeria. If you understand basic economic principles, you would have no problem accepting what is being posted here.

Rossikk: Sorry but you cannot invent your own facts. Investors are trooping into Nigeria. End of story. Nigeria is among the fastest growing economies on earth. End of story. Nigeria is approaching the position of largest economy in Africa, with a 7 percent annual GDP growth rate, making it an investment destination of choice for the world's businesses. Nigeria posts one of the highest returns on investment of any country on earth. Her stock market is yielding profits of up to 40 percent per annum for investors, an unheard of figure in western nations. The middle class is expanding at an unprecedented rate. These are ALL easily verifiable facts. Therefore, it should not surprise you that investors are pouring into Nigeria. If you understand basic economic principles, you would have no problem accepting what is being posted here.

I cannot but laugh. It is good to be optimistic anyway. If you have ever travelled out of the country to Western Europe, North America and recently Brazil and see how real economies work, you will understand that Nigeria has not started. Like I said, it is good to be optimistic. But I like facing realities and not being sentimental about any issue.

larrysng: Keep deceiving yourselves the reason why they are coming into nigeria is because anything goes here. They knew once they pass ghana must go under the tables of our law makers and executives they would grant them concession to operate any how they like. They knew that it is only in nigeria you can get cheap labour where they can hire anyhow and sack anyhow. They know the government of Nigeria do not care about its citizens and are ready to do anything for their own pockets. They knew it is only in Nigeria that a foreign unemployed school cert can be made to boss a nigerian Msc holder because the work is for their people and not ours. SMH for this country. Where are our own indigenous biz men and women? They are busy laundering our money abroad to better akata country. Nigeria economy is growing indeed!

They are coming into Nigeria mainly because of cheap labour... Get it right... All over the world, there is what they call outsourcing in business management, which means building and compiling where labour is cheap so at the overall, the company will gain more.

Rossikk: The problem with people like you is that instead of you to go out there and research what is happening, you sit somewhere assuming nothing is happening, and then you start throwing these rhetorical questions about like anyone has the time to educate you on developments. I don't. If YOU cannot be bothered to research the answers to your rhetorical questions, I can't be bothered with schooling you either.

I asked you specific questions and you called it rhetorics? Guess you have no reasonable answer to give?

Rossikk: The textile sector is already seeing a huge revival.

Rossikk: You really have no shame do you? Or maybe it is your illiteracy and lack of exposure that is bothering you. Every post I made was backed with links as diverse as Ventures Africa, Business Day Online, Reuters, Bloomberg, BBC, ITN news, Daily Mail, The Jakarta Post, Guardian, Vanguard, Thisday, Tribune, Punch, et al.... Unless you're saying that Mr President somehow contrived to bribe all these news agencies to manufacture news of investments... In which case it is between you and your psychiatrist.

Rossikk: Go and get an education. You're clearly under-educated.

Those are all your response to what valid issues raised by people. We can know who you are from this.

Good night.

Rossikk: Sorry but you cannot invent your own facts. Investors are trooping into Nigeria. End of story. Nigeria is among the fastest growing economies on earth. End of story. Nigeria is approaching the position of largest economy in Africa, with a 7 percent annual GDP growth rate, making it an investment destination of choice for the world's businesses. Nigeria posts one of the highest returns on investment of any country on earth. Her stock market is yielding profits of up to 40 percent per annum for investors, an unheard of figure in western nations. The middle class is expanding at an unprecedented rate. These are ALL easily verifiable facts. Therefore, it should not surprise you that investors are pouring into Nigeria. If you understand basic economic principles, you would have no problem accepting what is being posted here.

Oh, I see, the thread belongs to you. Paid agent of GEJ; aprt of the 40 laptops chap? Have fun spreading the lies

This is a very good development. I think one of the problems we use to have is the problem of continuity. My prayer is that GEJ wins 2015 election so that the course will be sustained otherwise many structures and plans will be dismantled by a new government just to claim originality. APC don't know what it means to be an opposition party. By the way, is there any party like APC yet? Those guys are not serious.

I will like to see a situation where the Government condition the employment in these firms. The ratio of locals to foreign personnel, staff welfare, et al. Shabby treatment of locals should carry very stiff penalties, try as much as possible to outlaw contract staff, locals should enjoy periodic trainings as may obtain in the developed world and every other necessary stuff to ensure they don't just make money from us but that we also get the maximum benefit from them. Still feel somehow about the way Indian and Chinese employers treat the locals here...

Smooth operator

i actually want GEJ re-elected in 2015 so that at the end of his tenure in 2019, there wont be any excuse for bad performance.

Foreign investors in Nigeria are not as many and they are only reducing unemployment in their native/host countries while adding artificial flavor to Nigeria.

No electricity 2 straight days in ALUU and UNIPORT.

Orikinla: The poster is telling lies.
See https://www.nairaland.com/1311246/insecurity-north-niger-delta-scaring

God help your senseless sense of patriotism ...

Godman_n:

Oh, I see, the thread belongs to you. Paid agent of GEJ; aprt of the 40 laptops chap? Have fun spreading the lies

Where are the lies or you are so disgusted by progress. This country is ours not just for Gej or pdp. So take a chill pill before branding the poster a liar.

phemi01: foreigners must do everything for us in nigeria. See thm jumping up n down like they just gained independence. With all the money ur leaders are stealing, they still have to soleLy depend on foreign investors to do everything. Una neva see anything. Ur all going back to the slave trade era sooner than u know. Nigerians are already suffering from serious mental slavery though.

Be constructive in your opposition! The companies, industries and big organisations in America, were they built by just the American government? They are owned mainly by private investors both foreigners and locals, or do you fink we are still in the era of mediocrity. Mchew

https://www.youtube.com/watch?v=ASL-VF3VQvA

Nigeria's Growing Interest of Foreign Investors - Part 1

God bless the Federal Republic of Nigeria!!!