agrovick:

Quick question
In a situation where we are food self sufficient and we are able to produce all we consume (technology and the likes) with little or non available for export.
Will the current challenge still be ongoing?

neocortex:

Iran had better tighten their forex or those investors will soon wreck Iran. Investors are evil and must be chased out of Nigeria. Sai Baba
What do you think ?

Ugosample:


No country can produce all its people can consume. It can NEVER happen. Even China, the world's manufacturing village are heavy importers too.
Just be as productive as possible with what you can produce. That's all

LordVarys:

http://www.bloomberg.com/news/articles/2016-03-30/nigeria-s-promise-turns-to-peril-as-investors-head-for-the-exits

neocortex:


This is meaningless in the current scheme of things, FG is to borrow billions of dollars to finance budget,
a government that is afraid of debt won't do such.
But I am not surprised by your response, since all you do is rationalise every government policy even
if it is incompatible with the stance of the FG itself.

yaki84:




I disagree wih the corruption aspect, corruption didnt send those guys outta nigeria but policies.
do u know foreign investors like investing in nigeria because they know they can cut corners with the help of nigerians fronting for them?
bobo it is the policies that is driving them away not corruption.
corruption thrives in public sector not in private sector.

if u r talking of multiple taxation that isn't corruption but govt policy.
siemens, vodafone, virgin atlantic left because of maybe multiple taxation but not corruption. who r corrupting them or looting their funds?

SLIDEwaxie:
if anybody read the book, 'how Europeans u developed africa' they will understand that these guys used everything they get from Africa to develop their land.

From natural resources to direct cash!

And they still do it today through diplomacy.

They are the ones who pay our foolish politicians to sabotage the refineries since inception just to cart away the crude oil and send back as export, strengthening their economy even when they have no such natural resources.

Britain is crying to make us devalue because they live on tourism with no knwn technology to support their economy. Everybody knows that apart from the high standard of living. And average Briton is a poor man- almost with no savings because the government collects up to 50% tax just to keep breathing. The dollar crunch and the blind eye towards excepting education out of the forex wahala is affecting them.

Do u knw howuch they make via education to the stupid African countries alone? Billions of pounds!

Immediately our govt moved against the dollar, they were the first to feel the heat... They recorded their first low patronage in decades

MiztaSanchez22:
I weap for my couNtry NiGerIa. This was nt d change we al askd 4,
NO LITE,
NO FUEL,
NO MONEY IN D ECONOMY,
PEOPLE LOOSING JOBS EVERIDAY.
Lord pls hear our cry nd save ur 4rm dis heartache.
First tym 2 comment on Nairaland,
Thanks.

odomanis:


You are talking of developed countries, did you not read that ivory coast,tanzania,kenya have all overtaken us ? The problem is you guys handed over this economy to some clueless APC government who have indulged in pulling us back. We warned you guys but you wouldn't listen. Now it is happening. keep blaming and making excuses !

Quakertellicus1:


Ivory Coast also

1.Has a much smaller population than Nigeria.

2.Has its currency...the CFA franc buffered by France.

3.Has some form of industrial development and export.

4.Also gets lots of cash from the French.

Frodobee :

1. Smaller population. Is that an advantage? *shakes head*
2. (CFA franc) Currency buffered by Euro? *not surprised*
3. Some industrial development? Some abi? After smarting out from war 2008? *I will teach, I will not call you names*
4. Cash from (fada christmas)France? Are you related to Liar Mohmed?

LordVarys:


Nigeria’s appeal has faded as the price of oil, source of 90 percent of export earnings, has crashed.[Growth slumped to 2.8 percent last year, the slowest since 1999, and will decelerate to 2 percent in 2016, according to Morgan Stanley. In dollar terms, the economy in 2019 will still be 17 percent smaller than its 2014 peak of $542 billion. Only two years ago, McKinsey & Co. said Nigeria had the potential to grow 7.1 percent annually until 2030 and build a $1.6 trillion economy.
As Nigeria lags, other countries in sub-Saharan Africa have gotten more appealing. Last month, Nigeria fell from first to fourth, behind Ivory Coast, Kenya and Tanzania, in a ranking of business prospects by the research unit of Nielsen Holdings Plc.
Portfolio investors including Aberdeen Asset Management Plc and Ashmore Group Plc, which together oversee about $450 billion of assets, have retreated from Nigerian markets. The main stock index is down 10 percent this year, while the MSCI Frontier Markets Index has lost 2.8 percent. Nigeria’s local-currency bonds are the only ones among 31 emerging markets tracked by Bloomberg to have generated aloss this year. Foreign direct investment this year is set to be the lowest since the 2008-09 global financial crisis, according to data from the central bank.



http://www.bloomberg.com/news/articles/2016-03-30/nigeria-s-promise-turns-to-peril-as-investors-head-for-the-exits

LordVarys:

.....

Nigeria’s appeal has faded as the price of oil, source of 90 percent of export earnings, has crashed.[Growth slumped to 2.8 percent last year, the slowest since 1999, and will decelerate to 2 percent in 2016, according to Morgan Stanley. In dollar terms, the economy in 2019 will still be 17 percent smaller than its 2014 peak of $542 billion. Only two years ago, McKinsey & Co. said Nigeria had the potential to grow 7.1 percent annually until 2030 and build a $1.6 trillion economy.
As Nigeria lags, other countries in sub-Saharan Africa have gotten more appealing. Last month, Nigeria fell from first to fourth, behind Ivory Coast, Kenya and Tanzania, in a ranking of business prospects by the research unit of Nielsen Holdings Plc.
Portfolio investors including Aberdeen Asset Management Plc and Ashmore Group Plc, which together oversee about $450 billion of assets, have retreated from Nigerian markets. The main stock index is down 10 percent this year, while the MSCI Frontier Markets Index has lost 2.8 percent. Nigeria’s local-currency bonds are the only ones among 31 emerging markets tracked by Bloomberg to have generated aloss this year. Foreign direct investment this year is set to be the lowest since the 2008-09 global financial crisis, according to data from the central bank.
.....

Bruno Witvoet, the Africa President of Unilever, whose Nigerian subsidiary has seen its shares plunge 31 percent since Buhari came to power, said it would be “VERY INSANE” for the country to persist with the currency policies. Nestle SA says its local unit, which has fallen 18 percent in that period, has had to widen the number of banks it uses so that it can access enough foreign exchange.
....

http://www.bloomberg.com/news/articles/2016-03-30/nigeria-s-promise-turns-to-peril-as-investors-head-for-the-exits