please I want to mods to push the topic to the front-page so that relevant policy makers government agencies and political analysts can see it.

the problems of Nigeria are interwined and manly from high rate of unemployment to poor standard of living, corruption and poverty. but this article would concentrate on just two core problems; inflation and exchange rate volatility. why just two?
these are the cause of about 95% of the problems politicians are finding difficult to get rid of. take for example;

1. inflation: corruption thrives because people are uncertain about the future they anticipate future rise in price and massive reduction in the real value of money. hence they steal more money which they hope will serve as future financial security for them. in a world where pensioners end up miserable because the pension money is peanuts, materialism, corruption and stealing becomes the order of the day. I could recall the conversation I had with a pensioner who told that a brand of luxury car worth over 15 million naira today was worth 5000 naira in the 1970s, this goes to tell us how worse off we are currently. although some have benefited and still benefit from nigerias unhealthy inflation rate this explains why you have some better off; property developers, land lords, debtors and some worse off. studies have shown that inflation makes the rich richer and the poor poorer. this builds tension and frustrations and high crime rates. some folks cant seem to understand why the harder they work, the poorer they are. this is because they are at the bad books of an economic system they have no control over. inflation makes folks work more for less. the security issues of nigeria; Biafra, bokoharam, niger delta militants, can be traced to economic issues only a frustrated man will take to the destruction of lives and properties. another implication of a continuous rise in general price level is that imports will get cheaper than exports this will kill local industries which will lead to massive unemployment and another major problem exchange rate volatility.

2. exchange rate volatility: because of our high taste for imports, it will spike up the demand for forex or dollars from the banks. as a distributor or marketer you need forex to procure the foreign goods. when quantity demand is higher than quantity supplied, what happens? price goes up. this explains the price quotes of the dollar you see at commercial banks. this affects the price of goods in the market and in the long run eats up your pocket since Nigeria is import dependent and doesn't manufacture anything. virtually everything you buy in the market has a foreign input in it. even if it claims to be made in Nigeria. with the points I raised, you can now understand why this regime- popularly known as "buhari regime" is characterized by high rising costs of goods but yet sellers are complaini ng that the demand for their products is low, accompanied by massive retrenchments and salary cuts amongst salary earners. economists refer to this term as stagflation. oh I forget to add that it affects the capital stock of a nation- the most important ingredient for economic growth. highly skilled labour from developed nations would turn down offers to work in Nigeria and contribute their inputs to national development because given the bearish exchange rate, their take home in when converted to dollars would be very poor. importation of capital goods would be extremely expensive. hence it would be better to use it in their country, and then import the by-products here. the issue of brain drain is also observed thats why the best of the best are attracted to fatter paychecks ( when converted to Nigerian currency) USA or Canada offers them.

the solutions

1. agriculture: this is the sector that requires the urgent priority among policy makers. agriculture and mining would provide raw materials for industries thereby reducing the costs of production for local industries. in the long run foreign goods become more costly and are kicked out of the market, this;

I. increases employment rate.
ii. leads to industrialization
iii. reduces inflation: ample research shows that majority of inflation in under developed countries come from food supplies.
iv. increases exports: cheaper local products would now attract the international markets. this coupled with a reduced demand for forex would stabilize price. the craze to steal and loot government foods won't be there again because people are now certain of the future.

in order to achieve the above, the government should declare a state of emergency on the agricultural sector. ban the use of crude implements; hoes, cutlasses. merger smaller farms into bigger ones to form cooperatives and provide mechanized implements for them. provide incentives for farmers.

[quote author=paulGrundy post=70039250]please I want to mods to push the topic to the front-page so that relevant policy makers government agencies and political analysts can see it.

the problems of Nigeria are intertwined and many from high rate of unemployment to poor standard of living, corruption and poverty. but this article would concentrate on just two core problems; inflation and exchange rate volatility. why just two?
this is they are the cause of about 95% of the problems politicians are finding difficult to get rid of. take for example;

1. inflation: corruption thrives because people are uncertain about the future they anticipate future rise in price and massive reduction in the real value of money. hence they steal more money which they hope will serve as future financial security for them. in a world where pensioners end up miserable because the pension money is peanuts. materialism, corruption and stealing becomes the order of the day. I could recall the conversation I had with a pensioner who told that a brand of luxury car worth over 15 million naira today was worth 5000 naira in the 1970s, this goes to tell us how worse off we are. although some have benefited and still benefit from nigerias unhealthy inflation rate this explains why you have some better off; property developers, land lords, debtors and some worse off. studies have shown that inflation makes the rich richer and the poor poorer. this builds tension and frustrations and high crime rates. some folks cant seem to understand why the harder they work, the poorer they are. this is because they are at the bad books of an economic system they cant control. the security issues of nigeria; Biafra, bokoharam, niger delta militants, can be traced to economic issues only a frustrated man will take to the destruction of lives and properties. another implication of a continuous rise in general price level is that imports will get cheaper than exports this will kill local industries which will lead to massive unemployment and another major problem exchange rate volatility.

2. exchange rate volatility: because of our high taste for imports, it will spike up the demand for forex or dollars from the banks. as a distributor or market you need forex to procure the foreign goods. when quantity demand is higher than quantity supplied, what happens? price goes up. this explains the price quotes of the dollar you see at commercial banks. this affects the price of goods in the market and in the long run eats up your pocket since Nigeria import dependent and doesn't manufacture anything. virtually everything you buy in the market has a foreign input in it. even if it claims to be made in Nigeria. with the points I raised, you can now understand why this regime- popularly known as "buhari regime" is characterized by high rising costs of goods but yet sellers are complaini ng that the demand for their products is low, accompanied by massive retrenchments and salary cuts. economists refer to this term as stagflation. oh I forget to add that it affects the capital stock- the most important ingredient for economic growth. highly skilled labour from developed nations would turn down offers to work in Nigeria and contribute their inputs to national development because given the bearish exchange rate their take home in dollars would be very poor. importation of capital goods would be extremely expensive. hence it would be better to use it in their country, and then import the by-products here. the issue of brain drain is also observed why the best of the best are attracted to fatter paychecks ( when converted to Nigerian currency) USA or Canada offers them.

the solutions

1. agriculture: this is the sector that requires the urgent priority among policy makers. agriculture and mining would provide raw materials for industries at a cheaper rate thereby reducing the costs of production for local industries. in the long run foreign goods become more costly and are kicked out of the market, this;

I. increases employment rate.
ii. leads to industrialization
iii. reduces inflation: ample research shows that majority of inflation in under developed countries come from food supplies.
iv. increases exports: cheaper local products would now attract the international markets. this coupled with a reduced demand for forex would stabilize price. the craze to steal and loot government foods won't be there again because people are now certain of the future.

in order to achieve the above, the government should declare a state of emergency on the agricultural sector. ban the use of crude implements; hoes, cutlasses. merger smaller farms into bigger ones to form cooperatives and provide mechanized implements for them.[/quote]
The highlighted lines has been a mitigating factor. If we adopt modern farming like other countries the sky is our limit.
cc:lalasticlala
cc:Seun
cc: ishilove

2. provision of social infrastructure ;
arranged in the order of importance:

I. security to lives and properties; businesses cannot thrive in an insecure climate of bokoharam, Fulani herdsmen. if the police force is not effective, then government policies cannot be enforced. take for example no effective security measures to combat marauding herdsmen, then all government incentives towards farmers would fail.

ii. stable electricity

iii. affordable transport

iv. quality affordable healthcare, housing and education.

with my reccomendations above if adhered to, majority of Nigeria's problems would be solved.
in conclusion how would it affect you and me? the common man?
if cost of food and transportation is cheap, there is access to an affordable mortgage plan, the quality of life of income earners would drastically improve. a meagre salary earner can now enjoy life because a tiny fraction of his salary would go to the necessities; food, housing and transport.
entrepreneurs would have a thriving business, local produce can now compete with foreign ones due to; abundant power supply, low cost of raw materials.

.

paulGrundy:
2. provision of social infrastructure ;
arranged in the order of importance:

I. security to lives and properties; businesses cannot thrive in an insecure climate of bokoharam, Fulani herdsmen. if the police force is not effective, then government policies cannot be enforced. take for example no effective security measures to combat marauding herdsmen, then all government incentives towards farmers would fail.

ii. stable electricity

iii. affordable transport

iv. quality affordable healthcare, housing and education.

with my reccomendations above if adhered to, majority of Nigeria's problems would be solved.
in conclusion how would it affect you and me? the common man?
if cost of food and transportation is cheap, there is access to an affordable mortgage plan, the quality of life of income earners would drastically improve. a meagre salary earner can now enjoy life because a tiny fraction of his salary would go to the necessities; food, housing and transport.
entrepreneurs would have a thriving business, local produce can now compete with foreign ones due to; abundant power supply, low cost of raw materials.

Bro, can I get your whatsapp number. What to ask somethings about Heritage Bank training school

paulGrundy:
.

HI paul

Bro,please can I get your whatsapp number. What to ask somethings about Heritage Bank training school

Got any info yet what the Training school is like?

Toluene157:


Bro,please can I get your whatsapp number. What to ask somethings about Heritage Bank training school

Few of our politicians have ideas but our constitutions wont allowed..