What do you think this NEPAD thing ( www.nepad.org ) is all about anyway? I have my doubts about its sincerity. I think that South Africa came up with this program to create a virgin market for their economy in Africa since their own market is getting saturated and EU is not allowing them to flood their market like they were doing in the past.

They enlisted the assistance of President Obasanjo to drum support for NEPAD because they know that we are always "Hot" on such programs.

Now South Africa is already taking over anything and everything in Nigeria's economy. They are opening shopping malls all over, they are bringing over $200 million to invest in power once NEPA is privatised, I even heard that they offered to pay the handsome sum of $1 billion for our railway when their own railway system is in shambles!! Their fast food companies are ready to dust Mr Biggs, Tantalizer etc. They had brought St Elmoz already and I heard that they are bringing MacDonald's! More are coming guys!

What do you guys think is happening?

I agree with you. I think the investment is good, though but it should be on our terms. The government should make sure Nigerians hav a stake otherwise we'll end up as merely consumers. In the long run though, its good when you get investors in your country. Japan invested in Malaysis and singapore and look at how they turned out today.

I dont think south africa needed NEPAD to allow them to invest in other parts of africa. NEPAD is more about getting the rest of the world to invest if africa ofers good governance, as well as fostering internl investment

we need more INDUSTRY and fewer services. Fast food is not a good investment. I would have no complaints with south africans updating our railroads and steel mills, but we should not be supporting Mac Donalds and their ilk.

Tobi:

What do you think this NEPAD thing ( www.nepad.org ) is all about anyway?  I have my doubts about its sincerity.  I think that South Africa came up with this program to create a virgin market for their economy in Africa since their own market is getting saturated and EU is not allowing them to flood their market like they were doing in the past.

They enlisted the assistance of President Obasanjo to drum support for NEPAD because they know that we are always "Hot" on such programs. 

Now South Africa is already taking over anything and everything in Nigeria's economy.  They are opening shopping malls all over, they are bringing over $200 million to invest in power once NEPA is privatised, I even heard that they offered to pay the handsome sum of $1 billion for our railway when their own railway system is in shambles!!  Their fast food companies are ready to dust Mr Biggs, Tantalizer etc. They had brought St Elmoz already and I heard that they are bringing MacDonald's!  More are coming guys!

What do you guys think is happening?

South Africa can do whatever they want because the people in our govt who are supposed to look out for our interest by checking some of the investment activities of South African companies are not interested in looking out for you.They are making their money and i suggest you do the same.

But Red, is it right to put the entire economy into the hands of Foreigners? Did u see what the Japaness are doing in US? I heard that they are controlling the strategic businesses in America and the Americans are getting wary because The Japaness' market is not open to the them they way thy opened to the Japaness.

We are gradually getting to that point. I was in South Africa last year and i met a lot of Nigerians there and i was told that the strigent measures required to set up a business in SA is difficult to meet, that is why a lot of Nigerians who go there end up doing menial jobs or take to crime. I heard that Nigerians pricipally control all the drug, and prostitution racket in SA.
Dont u think that we could run into the same precarious condition that the Americans are now facing over Japan?

NEPAD or not, a nations economy shouldn't be blindly opened up to external influences without commersurate monitoring and regulating. Insofar as they aren't investing in strategic sectors, they can come and invest. BTW: Where does Nigeria have large investments in other economies?