budaatum:
Are you trying to whatabout me grandpa?

You should know by now that no one made buda the morals or ethics police on a public forum, and my compass is only directed at you grandpa, who insulted buda!

lol...

buda this buda that... whose afraid of the little buda?


you do not have the monopoly of insults kiddo. you get what you receive... keeping following...

ivandragon:



lol...

buda this buda that... whose afraid of the little buda?


you do not have the monopoly of insults kiddo. you get what you receive... keeping following...

Afraid of 12 year old buda?

No one, I hope. Especially not you, grandpa, and God forbid I insult your grey hair!

Lifestone:

While I do agree that individuals should take responsibility, you will agree with me that it's only individuals that have been prepared that can reason the way you have.
Today we still have millions of children out of school, children malnutrition is still pervalent ( this leads to staunted growth and inhibit mental development & intellect), we still surfer high mortality from diseases that have been completely eradicated in other climes.Our human dignity suffered etc.

Prepared? This is generational, surely! If I myself were not prepared, surely at some point I ought to take responsibility for preparing myself! And if perchance, it is too late for me, I should invest in preparing the fruit of my loins least the curse that afflicts me be passed by me to my offspring and future generations.

I can safely assure you that no leader cares about me as much as I should for myself. And I don't see any of them being my messiah and carrying my cross for me.

budaatum:

Afraid of 12 year old buda?

No one, I hope. Especially not you, grandpa, and God forbid I insult your grey hair!

after saying I can't add 2+2?

lol...


keep playing the victim card...

ivandragon:



after saying I can't add 2+2?

lol...


keep playing the victim card...

I actually asked you to admit it, but what was your response again?

I'm no victim of anything grandpa. I just got your time today and the data mummy and daddy bought me.

Lifestone:
This article represent the story of our life as a country. Sadly those who have held this country hostage won't allow PMB into the real and full picture, the present economic team has told lies to itself enough and should give way for a more pragmatic and reform focused group to try again.
Certainly we can not continue like this

What is stopping PMB from picking up Forbes and reading for himself. This guy got an F in maths and is not qualified to govern an LGA. Only tribal politics got this guy in Power and this stats and his reelection is proof why Nigeria is not a viable entity.

No wonder the ease of doing business in Nigeria. As been on the up up since Buhari took over o I forget you the utopian guy that expects us to jump to number from the rock bottom PDP landed us during their years of ruins.

The fact is Buhari as improved security, n ease of doing business in Nigeria, it might not be where we desire but definitely not where PDP abandoned Nigeria. You should dish out the kudos for that effort before demanding competition with Malaysian n Singapore etc.

Lifestone:

Your rants above are pure empty with no substance to support the focus of our debate.
I voted and campaign for PMB in 2015 against the poor handling of the country by PDP. While PMB has done well in some areas he has performed woefully in the management of our country's economy with rising deficit budget and unemployment. Only a bigot will not see these among others.
That you are not aware that all leading producers of any products today has operations in China beats my imagination. Maybe you don't know, that's what we mean by foriegn investment, no country including the US can wish that away.
The cruz of this discussion is that PMB has failed in creating the right environment by putting in place critical reforms to ease doing business in Nigeria. Things like security of life and property,
Legal reforms on trade dispute (an average trade dispute in court takes over 6years if you are lucky).
Respect for contractual agreement and intellectual property
Land law reforms
You still need to sort to register a company with CAC in Abuja etc
Fiscal and monetary reforms that will eliminate paper millionaires (the current 3 tier exchange rate regime permits rents seeking).
These are my points. We don't need rocket science to get some of these things done. These are what the foreign investors are waiting for.
PMB needs new ideas and he must figure out how to get it done, that's why he asked for the job and that's why Nigerian voted him to power.
As per all the other rants in your post, it shows your level. I don't fight with the pig

Lifestone:
It's the responsibility of our Leaders to bring this out.

And the people who allow/elect the leaders, in the first place, have none of that responsibility
How are the leaders different from their own people?
Were the leaders not ordinary people before they were allowed/elected as leaders?

budaatum:

I don't agree. I think it is mine and every individuals' responsibility to bring this out. And we can start by curing ourselves of our individual ignorance.

We are the leaders. We just don't realise it yet, which is why we are sheep.

[img]https://rezinate.files./2016/12/sheeple-2.jpeg?w=627[/img]

RTSC:
The fact is that both the sycophant and the patriots will not be spared of the direct consequences of mis governance.

We all buy from the same markets and apply for the same jobs.

The economy will not suddenly favour you because you like buhari.

His BMC propaganda crew may think otherwise because of the N30,000 they are paid to spread lies and rumours for confusing the people.
E go soon clear them for eyes.


www.nairaland.com/attachments/6357739_img20171202120050_jpeg6ecfd3f82fd9c8a51481d8dcf4a16a70


www.nairaland.com/attachments/4180477_1392483210143001453357818500537568220443822n_jpeg744fcdbcdbc4f5b147d46800faffe62b

“Electricity price controls are a big problem,” says Benedict Craven, a Nigeria analyst for the EIU. “The private sector is given little incentive to invest.”

According to USAID, the main U.S. government international aid organization, Nigeria has the potential to generate over 12,000 megawatts of electricity daily. On most days, it generates around 4,000 megawatts.

Electrical Tomatoes

The emboldened is about the only bit of this that got my attention but I notice it caught no one else's.

"Price controls"! It means a product is kept at a price set by government, and in Nigeria, we know it's kept low and very likely beneath the cost at which it can be sold at a profit. Like petrol really. But we can at least claim a reason for petrol with our crude oil and our ineptitude at running refineries. Electric though!?

Imagine it were tomatoes. You invest in land and fertiliser and labour and grow them, and when you get them to the market, government sets the price. I'm absolutely certain if that price is higher than the cost at which you grow your tomatoes, you wouldn't mind much. You'd likely be delighted if it's high enough for you to make a tidy profit. And if you're fortunate and the price set is so high, you'd likely invest in more land and more fertilizer and more labour and grow even more tomatoes. But this is Naija, where the price set by government is more likely to be way below your costs so that after you sell your tomatoes, you would have lost money.

Now think, you lost money on your tomatoes. Are you going to plant tomatoes next season? If you're into the charity business or you're stupid, you just might. But if you're not and have rent and school fees for your kids to pay and you want to eat and pay the interest on a loan I very much doubt you'd be stupid enough to throw your money away growing unprofitable tomatoes!

Well, that's the case with electricity in Nigeria I'm afraid. You generate it, transport it along unreliable transmission wires, lose a large chunk of it to illegal use and theft and what you do get paid for does not cover the cost of producing it. Now tell, would you plant electricity next season? I very much doubt it unless you're into the charity business or you're stupid, of course, but somehow, I just can't imagine you'd be either.

So, what's the solution you might wonder. Increase the price of electricity of course. But come on people, increase the price of electricity so electricity planters can earn more money and plant more and sell more? Surely you must be cursing me by now, or haven't you noticed you'd have to pay more for my electric if you want it?

Ok, perhaps you're all nice civilised folks and don't want to curse me so let's try a different way of looking at this. Imagine Buhari removes the price control so I can sell my electricity at a market determined price like I currently sell my tomatoes no doubt at a profit high enough for me to want to plant more next year. Are you cursing me yet? I'm sure you would be if it was the subsidy on petrol I were talking about removing. Hell no! You'd likely stone me if you could get your hands on me!

Well, that's what this piece is saying where it says "The private sector is given little incentive to invest.” After all, I'm in the electric planting business for the money and the profit and not because I love you all as Adam Smith would say, so why give you light if you aren't paying me for the priviledge! And you wanna complain you're in darkness?!

When you pay me enough to cover my planting of tomatoes after paying for the land and the fertilizer and the labour and the interest on a loan and cover what I lose to theft and illegal harvesting, and still make a tidy profit to reinvest, I will plant 12000megawatts of tomatoes and I will sell 12000megawatts of tomatoes and even more megawatts of tomatoes than you can eat even because you would be incentivizing me to invest what you pay me in more land and more fertiliser and more labour to plant more tomatoes so I will have more tomatoes to sell you and make more money. But if you want cheap electric, keep your price controls and don't incentivize me but don't expect me to waste my time labouring in the sun just so you can have light because, like you, I ain't that stupid nor into the charity business!

Anyone cursing me yet, because I am telling you, we are too cheap!

budaatum:

The emboldened is about the only bit of this that got my attention but I notice it caught no one else's.

"Price controls"! It means a product is kept at a price set by government, and in Nigeria, we know it's kept low and very likely beneath the cost at which it can be sold at a profit. Like petrol really. But we can at least claim a reason for petrol with our crude oil and our ineptitude at running refineries. Electric though!?

Imagine it were tomatoes. You invest in land and fertiliser and labour and grow them, and when you get them to the market, government sets the price. I'm absolutely certain if that price is higher than the cost at which you grow your tomatoes, you wouldn't mind much. You'd likely be delighted if it's high enough for you to make a tidy profit. And if you're fortunate and the price set is so high, you'd likely invest in more land and more fertilizer and more labour and grow even more tomatoes. But this is Naija, where the price set by government is more likely to be way below your costs so that after you sell your tomatoes, you would have lost money.

Now think, you lost money on your tomatoes. Are you going to plant tomatoes next season? If you're into the charity business or you're stupid, you just might. But if you're not and have rent and school fees for your kids to pay and you want to eat and pay the interest on a loan I very much doubt you'd be stupid enough to throw your money away growing unprofitable tomatoes!

Well, that's the case with electricity in Nigeria I'm afraid. You generate it, transport it along unreliable transmission wires, lose a large chunk of it to illegal use and theft and what you do get paid for does not cover the cost of producing it. Now tell, would you plant electricity next season? I very much doubt it unless you're into the charity business or you're stupid, of course, but somehow, I just can't imagine you'd be either.

So, what's the solution you might wonder. Increase the price of electricity of course. But come on people, increase the price of electricity so electricity planters can earn more money and plant more and sell more? Surely you must be cursing me by now, or haven't you noticed you'd have to pay more for my electric if you want it?

Ok, perhaps you're all nice civilised folks and don't want to curse me so let's try a different way of looking at this. Imagine Buhari removes the price control so I can sell my electricity at a market determined price like I currently sell my tomatoes no doubt at a profit high enough for me to want to plant more next year. Are you cursing me yet? I'm sure you would be if it was the subsidy on petrol I were talking about removing. Hell no! You'd likely stone me if you could get your hands on me!

Well, that's what this piece is saying where it says "The private sector is given little incentive to invest.” After all, I'm in the electric planting business for the money and the profit and not because I love you all as Adam Smith would say, so why give you light if you aren't paying me for the priviledge! And you wanna complain you're in darkness?!

When you pay me enough to cover my planting of tomatoes after paying for the land and the fertilizer and the labour and the interest on a loan and cover what I lose to theft and illegal harvesting, and still make a tidy profit to reinvest, I will plant 12000megawatts of tomatoes and I will sell 12000megawatts of tomatoes and even more megawatts of tomatoes than you can eat even because you would be incentivizing me to invest what you pay me in more land and more fertiliser and more labour to plant more tomatoes so I will have more tomatoes to sell you and make more money. But if you want cheap electric, keep your price controls and don't incentivize me but don't expect me to waste my time labouring in the sun just so you can have light because, like you, I ain't that stupid nor into the charity business!

Anyone cursing me yet, because I am telling you, we are too cheap!

Abeg, I am not cursing you....you have talked sense.

But try telling it to millions of Nigerians that price controls are a bad thing....and they will abuse you to high heavens.

Infact I have spent mb on this site arguing with people about this matter. I have been called 'evil capitalist', 'Buharist', PDP man, 'Wicked' etc....

But the truth is, electricity is a business, not a welfare thing.

tactius:


Abeg, I am not cursing you....you have talked sense.

But try telling it to millions of Nigerians that price controls are a bad thing....and they will abuse you to high heavens.

Infact I have spent mb on this site arguing with people about this matter. I have been called 'evil capitalist', 'Buharist', PDP man, 'Wicked' etc....

But the truth is, electricity is a business, not a welfare thing.

Well, I would not argue with anyone about it. It's not as if their argument would make me go and labour in the sun so they can have electricity, or tomatoes even!

Nigerians need to read Atlas Shrugged. Except, at our current collective intellectual level, we are more likely to believe the nonsense in it and completely misunderstand the main ideas. I have hope though. Someday.

anonimi:


His BMC propaganda crew may think otherwise because of the N30,000 they are paid to spread lies and rumours for confusing the people.
E go soon clear them for eyes.


www.nairaland.com/attachments/6357739_img20171202120050_jpeg6ecfd3f82fd9c8a51481d8dcf4a16a70


www.nairaland.com/attachments/4180477_1392483210143001453357818500537568220443822n_jpeg744fcdbcdbc4f5b147d46800faffe62b

Really? I thought that this BMC was just a joke

tactius:


Abeg, I am not cursing you....you have talked sense.

But try telling it to millions of Nigerians that price controls are a bad thing....and they will abuse you to high heavens.

Infact I have spent mb on this site arguing with people about this matter. I have been called 'evil capitalist', 'Buharist', PDP man, 'Wicked' etc....

But the truth is, electricity is a business, not a welfare thing.

You see the curioisty of politics, when Buhari was not in power, the APC rhetoric was power is not rocket science, there is no petroleum subsidy, etc. My problem with this administration is this, either they do not understand Nigeria's political economy or they are plain liars. Either way, they are not good and things are not working.

The question I keep asking is, what exactly has changed between them and former administrators, except that poverty has increased.

However, note that there is no country that practices 100% free economy nor 100% controlled economy. Every market free or controlled has its own disruptive asymmetries. Administration is all about being attentive and on the look out for these distortions, identify them, correct them and understand the concepts of complexities, etc. If you tackle a situation or risk, residual or secondary factors emerge.

This is a government that rode to power by carefully observing the residual faults in the previous one but they have spent all resources doing politics. They do not face issues but they insist they should not be criticized, it did not start with us, they did worse etc.

Price control is bad but the government still regulates the Naira, electricity pricing and fuel pricing. If you remove price control, will you also completely deregulate so that private individuals will set up their own refineries, people will be allowed to generate, transmit and distribute their own electricity. See, total deregulation is not possible because security will even be an issue. However a government is judged by its competency to meet several stakeholder demands with limited resources and deliver a balanced government where ordinary people can evolve with dignity.

Don't get you. Can you clarify the last two paragraphs?

googi:
This is how they suck every living cell out of developing/emerging economy.

Get foreign judgments that wipe out the foreign reserve.

Servicing loans, debts, interest and penalties.

Oxford, London School of Economics and Harvard train economists will soon flood here telling Nigeria to pay and settle business dispute in favor of the suckers.

When OBJ paid off Paris Club odious loans, it was good for the Country. Nigeria was asked to borrow by the same advocate that paid of the loan claiming loan had cheap interest rate and good for credit rating.

Prof. Soludo had to put her in her place when she started believing her false assumptions. If OBJ and Jonathan knew better, she could not have been right in both cases - pay off or borrow again.

Sometimes you have to wonder who loves this Country except those poor men and women toiling day and night to trade in needed goods and materials, sell and buy while fat cats bundle their sweat equity out through forex.

googi:
Naijaseeker,

I said it earlier, two reasonable people can agree to disagree. In order to move forward, let us think less about Ngozi who I was familiar with in Boston and Buhari who I hardly know but now labeled his defender, ouch!

Please we cannot escape responsibility by claiming certain period is not in our time. Nigeria has young population, it is our responsibilities to contribute the little we know, not only during our time but before and beyond.

Watch every economic analysis, it is from the point of view of foreign investors. How much they are bringing in for the country to grow, never how much they are taking out. Yet, in their cases it is about how foreigners are reaping them off.

Indeed, this is the basis for their current nationalism. Every African leader from Nkrumah, Nyerere's Ujamah to Lumumba that even tried to think like them have been struck down. Contrary to what some might think, I have nothing against foreign trained. Most of our Independence fighters were. And so were many of us.

This disagreement within us were deliberately created and it might go on for many years unless we start looking within for our economic salvation and not from foreigners or their vanities. If we have been crawling since our great Empires before Muslim and Barbarians destroyed us, we would be better off today.

I agree with you that man is created to look for his selfish interest first but how long is enough in the case of Africa being sucked to death and blamed at the same time for low IQ, as if I know what IQ is other than instant gratification.

Do you remember or read about Gold Standard? You sure remember a country named Gold Coast. Today America and Brittain just print papers and back them up with nothing or vanities. There are more $100.00 notes outside US than inside. Dare them as Gadhafi did, and tell me how they turned him and his country into rubles. They lost their paradise and replace it with the rule of law or human rights.

Did China depend on democracy, Muslim and Christian religions to become their new Financial and Nuclear threat today?

We have enough talented Nigerians to innovate, copy, steal intellectual properties and compete as Japan, Russia and China did.

But London School of Economics, Harvard, Toronto, McGill trained graduates that our youth worship and are daily looking up to will not let us.

I think probably, you would rather discuss the advantages and disadvantages of foreign investments in Nigeria. You suppose it is not really relevant to bring Buhari into the discussion. But Buhari is the President is the OP claimed that under him Nigeria has lost so much from the depletion of its foreign reserves, lapses and leaks in administration and loss of direct foreign investments.

Later you insist we should also accept responsibility for past historical occurrences. Things that happened before I was born. I agree. We owe it to ourselves and all Nigerians to accept responsibility, take a broad view of Nigeria from history, geographic, politicial in order to move forward.

However, somehow in all these, you insist we should think less of Buhari, the current President. I am a little bit at loss here. Firstly, the OP is about his incompetence and to me, that is the primary purpose of this thread. Is he really economically incompetent? Has he really mismanaged the economy. He could be very incompetent and foreign invests will still be detrimental to us. In fact, it is my opinion that this is the position.

He on one hand is trying to rouse us to a nationalistic frenzy against foreign investment and harvard trained economists. On the other hand, he sends his children to learn these same western education in the west, holidays in the west, treats himself in the west and our economy is in shambles.

Then somehow in your argument, you postulate that you hardly know him, you know NOI, NOI is the problem with our economy, the west is the problem with our economy, we should not dwell so much on the current president.

Clearly, we do not really want to address our economy

Really! People are preventing Buhari from accessing information that is already available in the public domain? In his privileged position, he can demand to speak to or see anyone to obtain first hand facts.

What stops Buhari from picking up copy of Forbes or The Economist, or the tens of Nigerian Newspaper columnists who daily publish starks facts about the economy?

Why can't he just read? It's not that hard. Rather, he is playing dump, deaf and mute

Lifestone:
This article represent the story of our life as a country. Sadly those who have held this country hostage won't allow PMB into the real and full picture, the present economic team has told lies to itself enough and should give way for a more pragmatic and reform focused group to try again.
Certainly we can not continue like this

cuteboy2:
Really! People are preventing Buhari from accessing information that is already available in the public domain? In his privileged position, he can demand to speak to or see anyone to obtain first hand facts.

What stops Buhari from picking up copy of Forbes or The Economist, or the tens of Nigerian Newspaper columnists who daily publish starks facts about the economy?

Why can't he just read? It's not that hard. Rather, he is playing dump, deaf and mute

No be pesin wey get NEPA certificate dey read?