ikennaf1:


You supported the dullard when he said that there's nothing like subsidy. You supported the dullard when he increased the fuel pump price in order to remove the imaginary subsidy. Now you're here supporting the dulllards again for refusing to remove the imaginary subsidy... Are u OK at all?

Dieof hatred. E no concern me.

ITbomb:

India got to where it is because of the development of the micro economy which drives less dependency on imports and consequently forex

We can't expect to keep praying for favorable forex so that we continue importing

The big investors we are expecting still needs micro business to sustain the chain of supply and raw materials

Power supply, security then probably a robust steel, aluminum and petrochemical plants are all young Nigerians need to build that self-sustaining economy

And all of that, fantastic as it is, will have no effect without the complementary FOREX policy to back it up.....

No nation exists in the earth that is 100% self sufficient, import play a role. You either rely heavily on import, or rely less....

We rely totally on it for now, even if we want to build an economy that relies less on it, it will take time, planning plus a realistic forex policy - which is a very key factor.....

95% of businesses closing up in Nigeria, folded up because it, from Sun international leaving the only 5 star hotel we have in Nigeria, to local pre-paid metre manufacturers closing up, PG closing up production plants/factories etc

They rely on imports to bring in raw materials to support product manufacturing, raw materials we dont/cant produce.....

An impractical FOREX policy will be counter productive to any EGRP FG is trying to market/create or work out......

I mean think about it, you limit access to forex and change the import tariff regime that limits access to fertilisers - while claiming to boost agricultural production.

But offer import waivers to Dangote to build a refinery. And make a boast of it....

Forgetting one crucial question, can private refineries buy crude, refine and sell fuel and maintain the current price regime?

Who told you Dangote is building refineries to refine products for the Nigerian market?

The west african table holds far better benefits than Nigeria, thats a private business consult and we benefit only on the basis of taxation and potential to reduce unemployment by a tiny percent, outside that Dangote is just doing his own business.....

SillyMods:
Dieof hatred. E no concern me.

coming from a walking corpse.

SillyMods:

I have learnt not to take all these international/world agencies serious. Most of their predictions always fail to hit their target.

IMF wanted Nigeria to take loan with a lot of conditions (e.g, increase tax, removing subsidy, privatizing of some national assets, etc), Nigeria rejected their offer and they predicted we were going to have problems. Less than two years of their offer and prediction of bad outlook for our economy, we bounced back and have actually done far better than anyone expected.

On the other hand, Greece and Argentina listened to IMF/World Bank and both countries keep sinking since then.

So, pay little or attention to these agents of doom.

Some things take a long time for their effects to be felt. The recession in 2016 was as a result of poor decisions by GEJ in 2012. When the next mighty recession comes, it will be directly as a result of not increasing taxes, not privatizing wasteful MDA's and not investing in education and healthcare.

We are currently spending more than we earn and we have one of the lowest revenue to GDP rates in the world. We have the highest number of out of school children and the highest number of people living in extreme poverty. We are almost completely dependant on crude sales for revenues and foreign direct investment and portfolio investments have also dried up. Our reserves have been built by borrowing dollars at outrageous interest rates and with forward contracts that fix the exchange rate in which we must pay back.

Presently, about 60 percent of our revenue is used to pay interests. This year, we may start selling assets and in the next couple of years, if oil prices do not recover, Nigeria would default on its loans. When this happens only God knows how low the naira will fall to and how poverty would further increase.

My guy, our rulers are the most incompetent irresponsible leaders on earth.

natznext:


So with just a 3 point agender the country is set for a turn around, Then we can start looking into other issues

and with your last paragraph these changes cannot happen with these present crop of politicians

Not possible under this government

Lifestone:
I am not feeling PMB sense of urgency to fix the economy.
There are no open discussions on what new things to do. Remember that all the rice pyramids have disappeared, no need for trade money again.
Truth is that we have not stop deceiving ourselves but time is not on our side

Seem u av some positively expectant on this second.
Bitter truth is d man just gonna maintain the existing status quo den hand over dyer 4yrs

adedayourt:


Seem u av some positively expectant on this second.
Bitter truth is d man just gonna maintain the existing status quo den hand over dyer 4yrs

My broda wetin man go do? Na to continue to be hopeful. I dread the imagination of wasting another 4years of my life. The best thing is to redefine reality.

Lifestone:

My broda wetin man go do? Na to continue to be hopeful. I dread the imagination of wasting another 4years of my life. The best thing is to redefine reality.

Your 4 yrs can never b wasted as long as u don't get to expect much from dem and u double ur efforts to better ur life.

Till well bro

This man is killing Nigeria