As the nation's power generation capacity continues to dwindle, an expert in the industry has revealed that only 40 per cent of Nigeria or less has access to power supply. A further breakdown of the figure shows that out of 140 million Nigerians, going by the last census exercise, only about 56 million are believed to have access to power supply.

paddy_lo:

[b]FDI Inflows to Nigeria in the past 10yrs has mostly been into Oil. . . .Gas. . . .Telecommms, Nigerian Stock Exchange. . .Nigerian Banks. . .and Infrastructure
Every FDI u get helps to stabilize your local currency and at the same time stimulate growth
It is the opposite of capital outflows, so its a good thing

Also remember that nobody is forced to bring in their money
as u are trying to attract FDI inflows,all other 200+, countries in the world are trying to attract inflows into their economy. .
so its a function of the policies that Nigeria decides to push. . .

For example, if we get a good PIB bill. . .Then billions of dollars more will come into the Oil and gas Sector
If we decide to Liberalize power. . .Then u can imagine that some FDI will flow into the power sector

As for how FDI helps to improve the economy. .
heres a detailed research item by NCC(who are very competent),on the impact of mobile services in Nigeria
http://www.ncc.gov.ng/

Some key excerpts. , . .

Pyramid Research estimates that capital investments in mobile networks and operations have accounted
for 80% of total telecommunications foreign capital investments (a total of more than $12bn by the
middle of 2008) since the Nigerian government successfully liberalized the industry in 2001.
As of March 2010, the NCC reported $18bn in telecom sector CAPEX, $16bn of which is invested by
mobile operators.

The explosion of the mobile industry in Nigeria has resulted in a series of positive effects
across the economy ranging from investment in networks to the creation of employment
Transformational Role of Mobile Services

Mobile services have multiple positive effects in an economy, most notably in emerging markets. Their
economic benefits extend beyond the investment that network operators allocate to license fees, taxes
and network equipment and include the following factors:

End user spend money on mobile telecom services and devices allows a new industry to
flourish

Telecom operator spending on marketing, distribution, maintenance, training, support and
network enhancements create important benefits for all involved in the value chain

Mobile operators create employment, both direct and indirectly, and invest in the
development of the labor force.

Mobile services have a wide economic impact in a country, since they enable end users to
conduct their daily business in a more effective manner, reducing the time and cost of
transactions, improving access to markets, commoditizing information and generally allowing
businesses to operate more efficiently.

According to Pyramid’s estimates, the annual revenue from mobile services represents
between 2% and 7% of African countries’ Nominal GDP; in Nigeria this ratio is close to 4%

Mobile operators also contribute to the economy by directly and indirectly creating jobs to
provide and distribute their services; in Nigeria, we estimate there are as many as 3m
Transformational Role of Mobile Services
jobs related to this industry

There are several groups of jobs, which
can be divided into two subgroups, that Employment related to mobile sector In Nigeria, 2009
gravitate around mobile services:

The top category of indirect employment
encompasses equipment sales,
p y g ,
infrastructure deployment, advertising,
marketing and public relations as well as
security — workers involved in the
protection of base stations. Reportedly, in
2008 Zain employed as many as 8,000
security guards.

At the base of the pyramid, there are
mobile service resellers, recharge card
distributors, retailers, phone booth
operators as well as street vendors. The
so-called mini call centers consist of
simply one or a few mobile phones and
airtime bought in bulk from the operator.
Call center operators allow other people
to use the phone for a fee and quite
often will take a message, also for a fee.

PLS read further below. . .


Source: Pyramid Research

http://www.ncc.gov.ng/
[/b]

@tensor777 and Pennywise  

Nigeria has 74Million poor people

http://www.nigerianobservernews.com/28042009/news/othernews2.html

Nigeria 4th worst in medical system in the world

This how far I can go with my search here,,,,I have to go now, if you re not satisfied with the fact that more than 74Million people re poor as even declared by a Nigerian official,,,I will continue in my search latter for that of the minister of productivity and labour

my heart is fully of joy that am not the only one that sees it in such fashion, when we talk over issues here i wonder weda am the insane person, everyone here in lagos poses with his cars and fancy clothes, when i say other wise every one thinks i too do oyibo and after a while i started doubting my stability and world view. poster you are very correct, no body seems to see that the greater population of nigerians dont have acess to clean drinking water, yrs back i went for a zenith bank job interview and they asked me why do i want to work for a bank, i told the untastefully dressed ladies that the common nigeria has not been caputured into the banking system and i see it as bin crucial in the eradication of poverty, they just gave me what the trash is he talking about look, she quietly asked me how much money do intend to bring to the bank and thats all she wants know and not economy this and that

Let them go and farm we say. But people on the farms are hungrier than tose in the city.

tpia.:

Indeed!!! And you base this information on what exactly? As far as I know, farming may be cash intensive but that doesnt necessarily mean people on farms go hungry, all things being equal.



let me leave you with a little ditty:

ise agbe, n'ise ile wa

eni ko sise, y'o ma jale

iwe kiko, l'aisi oko, ati ada

k'oi pe o, k'oi pe o.

holla at me if you need a translation

paddy lo you sound extremely naive and inexperienced in your glorification of the positive attributes of foreign direct involvement but have you stopped to find out who the main beneficiaires of this system are?  have you stopped for a minute to even look at the trail of destruction that foreign direct investment has caused in countries like nigeria, indonesia, india and thailand.  
the primary objective of multinationals investing in countries like nigeria is to MAXIMISE their profits at the expense of the labour force, the only way that this is guaranteed is if they can get away with paying the lowest wages for labour that they can get away with THATS WHY THEY INVEST IN AFRICA, ASIA and OTHER countries with unregulated labour markets, non existent human rights records and repressive govts, you are totally deluded if you think nigerians are getting a good deal out of the billions of dollars being invested in nigeria by all these foreign vultures and parasites, these people are working in cahoots with your corrupt govts to EXPLOIT the nigerian workforce because they know that they can get away with paying dirt cheap wages, sack people with no compensation, outsource jobs, and STILL MAKE RECORD PROFITS.  

A similar situation is currently ongoing in the US with NAFTA (the north atlantic free trade agreement) this agreement between america canada and mexico  enabled cross border trade between these three countries and it also allowed for the removal of tarrifs enabling american businesses to outsource thousands of jobs to mexico without being burdened by high production costs, because like nigeria, labour in mexico is dirt cheap the labour market is also unregulated or poorly  regulated,  employers  can get away with sacking whole chunks of the workforce without paying them compensation, go and research NAFTA and find out how it decimated thousands of manufacturing jobs in the united states resulting in widespread unemployment, go and find out what happened in places like detroit michigan where thousands of motor manufacturers outsourced jobs to south east asia, you dont know the half of what this FDI that you keep glorifying does to host nations.

look at what is currently happening in nigeria with Ericsson, didnt they sack 450 nigerian telecoms workers without compensation due to the lack of regulation and replace these workers with cheap indian workers, this is what globalization or capitalism is all about maximisation of profit at the expense of the indigenous economy, the only people who profit from this are the multinationals and nigerian govt officials who demand bribes in exchange for the award of these contracts to these vulture, keep fooling yourself that the average nigerian stands to gain anything from this brutal system

cap28:

paddy lo you sound extremely naive and inexperienced in your glorification of the positive attributes of foreign direct involvement but have you stopped to find out who the main beneficiaires of this system are?  have you stopped for a minute to even look at the trail of destruction that foreign direct investment has caused in countries like nigeria, indonesia, india and thailand. 

paddy_lo:

[b]Your write up is flawed in logic and FACT. . .

Nigeria,Indonesia,India and Thailand Have beneffited from FDI inflows and continue to seek more inflows
Poor ppl especially in these countries have seen their standards of living go up as a result of free trade

For all your rants about NAFTA, it has led to job growth in Mexico,Canada and the USA
and has created lots of jobs, that is why it is still the law in america today

For your information,half a job is better than no job. . .the person employed in a call centre in india is better off that DELL,or IBM came in to set up that call centre
It doesnt matter what the wages are,as long as they meet the minimum wage requirements in the country

If u dont know that Capital can be moved in an instant from place to place then u havent really studied the globe. .
There is nothing keeping any Foreign company tied to any country in the world. . .
DELLs call centres can be in Nigeria or ghana, it doesnt have to be in india,
It is up to us to lure that FDI away from india to Nigeria. . .

Same is true with Nigeria, there is nothing unique,to bring non-oil FDI into the country
so if our policies are not attractive enough,it can move to Ghana,kenya or south Africa, then what?
will the Govt now employ the millions leaving school each yr, and pay them with stone?
or print money like zimbabwe and turn the economy into a basket case?

please your write up makes sense as long as it is not u living under those rules u expouse
go to zimbabwe,North Korea or cuba and tell them how good they have it cause they expelled the evil capitalists
better still live there for a while and u will know how good u have it[/b]

cap28:

your response is totally devoid of any iota of critical analysis, instead of parrotting off all the trash that your neo FREE OF CHARGE - so stop displaying your ignorance, Cuba's health and education system puts america to shame, is it not the same america where the public school system is so substandard that the average american has the literacy level of a fourth grade pupil, is this not the same US which in the 21st century is yet to provide a comprehensive affordable health care system to all of its citizens - give me a break.

tensor777:

How else do you think wealth is created in a market economy. It is certainly not by printing money or by sharing out finite natural resources.
The whole point of investment is value creation which ultimately benefits the investor, the employee, the suppliers and the host government via taxation. Finally the goods produced should benefit the end user.
What other economic model do you have which would lead to sustainable economic growth and prosperity?

can you give me evidence of the increased standard of livign that nigerians have enjoyed since the nigerian govt opened up the country to FDI, where are the jobs that have been created, where is the evidence of increased standard of livign amongst the average nigerian - i would very much welcome some hard evidence to back up this  your claim.

for your information Cuba provides free health care and education up to university level to ALL OF ITS CITIZENS FREE OF CHARGE - so stop displaying your ignorance, Cuba's health and education system puts america to shame, is it not the same america where the public school system is so substandard that the average american has the literacy level of a fourth grade pupil, is this not the same US which in the 21st century is yet to provide a comprehensive affordable health care system to all of its citizens - give me a break.

tpia.:

^^ I love the tune.


I thought only us "oldies" knew it though.

are you telling me that you would be happy to work for 14 cents an hour rather than have no job at all, haitian factory workers were being paid around that to make t shirts for nike and other sportswear manufacturers, some of these workers were not making enough money to pay for their transport fare to and from work,

tensor777:

I had a feeling you were soft on Castro and an admirer of the communist system.How do your neo-communist ideas facilitate wealth creation? How does it answer my questions above?

paddy_lo:

Nobody owes u a job, look around u,there are 6billion ppl on this planet and each one of us is trying to make a living. .
If u dont have the requisite skills in Jobs that are in demand,like engineers,doctors,lawyers,Mathematician,etc then u are stuck with a low paying job
until u improve your skillls through education. . .

No one is forcing those haitians to work at the factory. . .If they were computer engineers,AAPLE, GOOGLE or anyone of the thousands of IT firms in silicon valley
would be rushing to hire them for $100,000 a yr plus stock options. . .

How do u expect to eat fat, if u dont bring any value added to the equation?

whats wrong with being a supporter of communisim if it can provide a decent standard of living for its citizens?

9jaganja:

My god is this dude for real? Your view of the world is twisted. Like I said before many think they are educated cause they earn degrees in Ignorance. And dude, you prove my point with every thing you've said so far. If you ever run heaven as a nation, it will go bankrupt of souls cause you sure as hell lack soul and wouldn't like anyone to have one. You are a mediocre economist at it's worst dude. Mediocre is even a better word, economist wannabe. No nation practices every man for himself systems no more. Geez people like you will drag us deeper in to the dark age we are in.

tensor777:

How else do you think wealth is created in a market economy. It is certainly not by printing money or by sharing out finite natural resources.
The whole point of investment is value creation which ultimately benefits the investor, the employee, the suppliers and the host government via taxation. Finally the goods produced should benefit the end user.
What other economic model do you have which would lead to sustainable economic growth and prosperity?

paddy_lo:

[
U are professing to support something that has been a total failure to humanity

tensor777:

You know its always a sign of a weak position when you resort to personal attacks. But that is to be expected given your youth.
Nevertheless you should learn how to structure your arguments logically, and coherently and devoid of gratituous personal attacks

Moreover I have to say that the OP and her supporters(mostly people based in the West) have yet to come up with a viable alternative economic model, which would answer my questions below:-

All they  keep repeating are the same old slogans which are absolutely meaningless.

My god is this dude for real? Your view of the world is twisted. Like I said before many think they are educated cause they earn degrees in Ignorance. And dude, you prove my point with every thing you've said so far. If you ever run heaven as a nation, it will go bankrupt of souls cause you sure as hell lack soul and wouldn't like anyone to have one. You are a mediocre economist at it's worst dude. Mediocre is even a better word, economist wannabe. No nation practices every man for himself systems no more. Geez people like you will drag us deeper in to the dark age we are in.

Many of these capitalism admiring fools are not even rich but they just admire the rich fools. There is no true capitalist state in the world what we have is an hybrid of capitalism and socialism with one keeping the other in check. No nation practices capitalism. I doubt paddy lo can survive in a capitalist economy cause he has no idea what he capitalism is. Before the Health care over haul, only the rich or those who can afford to go broke can afford healthcare. Some people make 40k/year but pay 25k/year on health care. That is a capitalist society for you. Insurance companies can raise the price as high as they want and do it like they want without regulations. Wait isn't that what we have in Nigeria? No regulation. I read some companies are about to fire Nigerians to hire indians. No regulation. Labour laws are not aspect of a capitalist society. In a model capitalist society, no laws regulates how much you pay for whatever job you want done that's why Nigerians work 12hrs a day earning less than $2 a day.  You have no clue dude. Wealth ain't spreading no where in a capitalist society.

9jaganja:

Ain't got nothing to say to ya. But damn do you read or look? Listen or hear? Ok enough I won't put another capitalist in misery. This thread isn't about economy in the first place. It's about Hypocrisy which is what many of you displays in green white green (shame). You point fingers at the one of the best nations to live on earth as a reason to escape what the the thread is about. We all know what's good and bad how come we can't just say this is bad why are we saying he is bad too? Y'all incorrigible.

You point fingers at the one of the best nations to live on earth as a reason to escape what the the thread is about.

Lol, best nations to live on earth? I wonder how they became so good,wonder if capitalism had anything to do with it?
How come u dont refer to North Korea,cuba or zimbabwe as such?

I wonder, cause u seem to love socialism so much

adconline:

To all these folks who shout that Nigeria is a heaven on earth, just take a trip to your village to see the primary school in your hometown and ask yourself if you would want your kid to be educated in that school.

paddy_lo:

Nobody owes u a job, look around u,there are 6billion ppl on this planet and each one of us is trying to make a living. .
If u dont have the requisite skills in Jobs that are in demand,like engineers,doctors,lawyers,Mathematician,etc then u are stuck with a low paying job
until u improve your skillls through education. . .

No one is forcing those haitians to work at the factory. . .If they were computer engineers,AAPLE, GOOGLE or anyone of the thousands of IT firms in silicon valley
would be rushing to hire them for $100,000 a yr plus stock options. . .

How do u expect to eat fat, if u dont bring any value added to the equation?