Developing Nigeria

As a bonafide Nigerian, a CEO, a venture capitalist, a project manager, an engineer, a writer and a hardcore humanitarian, I do want to know what you think should be done to restore nigerians image. What areas do you think that needs to be tackled or invested in and why?. I will accept all contributions that meets the criterias below:

"One of my philosophy is that if americans can be a gaint nation without oil, then other poor nations like nigeria can be as great as america if and only if they should ignore the fight in the oil sector and develop other areas of their lives."
----Nigerian future president

- Capital Intensive Projects
- The investment must key to Humanity
- The investment will serve as a backbone with possible buisness peripherials
- Nigeria must be dyning to have this done in the country
- Your investment idea must be selfless in nature (No selfishness)
- Investment must attract international recognition
- Your reply must be very specific with concrete examples.


For example: Setting up a security system or company that will tackle armed robbery in nigeria.
Your proposal will answer questions like.
Why do i need to set up a new security system when we have nigerian police?
Why do you think i need to set up a new security system if i can easily use the nigerian police?
What about our armies?
What do you think I need to change that the current nigerian security is ignoring?
Do you believe in government or privatization?

Please submit for evaluation thanks !

i think we need revunue 2 amke nigeria better d rich r gettin richer and d poor are gettin poorer. the govt should tax all dem people they can use dat 2 raise money 2 build good roads , like a state or national transport system . we should ve more train lines . as i herad deir is a port hole in naija international airport now dats some wrong shit all dat needs 2 be upgraded . am mot tryin 2 be funny but naija needs a serious make over .

One reason we always ignore in the issue of rich getting richer and poor getting poorer is that Rich men are always bombaded with ideas to better save guide the riches that already posses while no body cares to give the poor guy an idea. If u r poor and meet a rich man, the highest thign the rich will do is to mark out little stake for u. Every other thing is for him. It is infact one of the best ways the rich has always been richer..

You said something about taxation. I am preety sure that the nigerian government is taxing the riches if you know what i mean. The problem is that the money taxed are not evenly distributed becasue nigeria is not a capitalist nation. Usually due to the curruption in our government, it all ended to no avail.

Every venture capitalist have a revenue to make change a current state of a business. So having said that. i am looking forward to see ideas. I know it will not be easy concidering the limited thus set above. Good luck guys..

hate to break it to you, but the US has been one of the largest oil producers in the last 2 centuries. how d you think rockefeller got all his wealth. look at the stats. US is rich in oil

obong:

hate to break it to you, but the US has been one of the largest oil producers in the last 2 centuries. how d you think rockefeller got all his wealth. look at the stats. US is rich in oil

and u think the united states drives all of its power from oil?

- We need private companies that can offer abundant and affordable power supply to those willing to pay.
- We need to have even cheaper and better Internet access so our youths can click online and acquire skills on the cheap.
- We need to equip and educate our youths to be able to bid for outsourced jobs that are currently going to India and other Asian countries.

power is key! anyone that could tackle the power issue (productions, distribution and billing) is sure to make a pile.

if de young people gain d skills and ve no where 2 work den is useless old people neva retire in naij a nd dats just plane greedyness

Seun:

- We need private companies that can offer abundant and affordable power supply to those willing to pay.
- We need to have even cheaper and better Internet access so our youths can click online and acquire skills on the cheap.
- We need to equip and educate our youths to be able to bid for outsourced jobs that are currently going to India and other Asian countries.

Seun, you are definitly right about the power situation in nigeria, but let me ask u, how is the new NEPA doing? The problem with a private investor in the power industry in nigeria is that it will take longer time for a break even to be reached in such investment. However the longevity gain will be superflous. While climbing to the break even will require a couple of hands, Ido not think that we have any nigeria of such capability, but it is definitly worth looking into. thanks!

roca: There are a lot of Americans and Europeans who are looking for ways to export their jobs to Nigeria so that they can get things done at cheaper prices. It is called outsourcing. Once are youths are trained and they learn how to advertise their skills online, they will get contract opportunities which will in time grow into full-time jobs. We even have a Nairaland member that currently does this.

So there is hope for Nigerian youths in this area if they acquire and market the right skills. Our youths also need to stop 419 and other online scams, or else western countries won't be able to trust Nigerian youths with any jobs.

larger_20: NEPA / PHCN is still under the control of the federal government. It has not been sold.

i will like to identify with nigeria's future president. please when u get there don't forget me.

there is so much to do in our land. u can invest in a specialized area and reap so much money. there was a time someone i knew wanted to do a specialized eye operation which involved the use of laser treatment. he had to be flown to lagos to a private concern which is the only hospital in nigera equipped to do such. of course the costs was about four hundred thousand naira excluding the airfare and accomodation. He noted that the cost not withstanding there were so many people waiting because its actually saving them from going abroad for treatment which will be in millions. There are still other areas you can go into.

I am in the manufacturing industry and I can tell you that americans outsource their designs to asia country where it is cheaper for them. It is possible that Americans can outsource to Nigeria but definitly not in the product architecture area.

otox: You are right about the hospital investment in nigeria. It is definitly in my mind to build the largest african hospital. Currently there is one in south africa where most people go to.

hospital business is not going to fly without a properly implemented health insurance scheme. i pray the FG will put as much vigor as they put for the pension stuff. it is the health insurance that makes unconditional money available to pay doctors and for equipments. that is the reason why our hospitals have gone moribound...

Hello guys,

I am excited about this topic.

I am of the opinion that the full support of SMEs (Small and Medium Enterprises) is what we need mostly.

In some areas mentioned by some contributors, I must inform you guys as follows:


Power:

There are currently 12 power stations being constructed by the federal government plus 5 by major oil companies and some by states like Lagos, Rivers and Akwa Ibom.

http://allafrica.com/stories/200601170335.html

These stations, especially the ones by the FG are expected to be completed by the end of 2007. Infact there are hopes that some of them will be ready by the end of 2006.

The total Installed capacity of all the stations is expected to be over 10,000 MW.

The Energy commission of Nigeria has also started discussions and feasibility studies of Nuclear power. One has already been commissioned at the Nuclear energy and research center in Kaduna, by the IAEA chairman during his visit to Nigeria last year.

Discussions are currently on with the IAEA.

So on power cuts, it'll be reduced to the barest minimun by 2007. Although a city like lagos will still have problems due to illegal connections and rapid uncontrolled development.

Infact just after the completion of the Abuja Power project last December, there has been no power cut where I live in Abuja. Prior to that, power goes for a few minutes, on an average of twice a week.


Health:

I watched on the news sometime last year, the commissioning of the now improved ABU Teaching Hospital, I understand the government is currently improving Teaching Hospitals in the 6 geo political zones to Five star status, the project includes training for up to 5 years on the use of the equipment.

Infact the FG has stopped sponsoring its officials for medical trips abroad after the ABUTH commissioning. The other teaching hospitals are to be commissioned soon. I hear its the Abacha loot that is being used for the project.

But I think efforts should now be made to provide basic health centers in at least every autonomous community, and standard hospitals in at least every local government area. This I believe should be left to the State and Local governments with donations from private concerns.
I am aware Lagos, Enugu and Ebonyi states have such health programs. Ebonyi state I hear provides free health care for pregnant women. I believe there are other states doing that.

On Health Insurance, that has already taken off, but requires publicity. Most elites I believe are already on Insurance schemes, and the federal civil service has also insured its staff. But the common Nigeria does not believe in Insurance, there is the belief in "God will provide". Of course God will allways provide.

Anyway, I think publicity by the insurance companies is still not adequate, and there should be some legislation to enforce hospitals to be affiliated to Health Insurance schemes.



Technology:


On outsourcing, I am also aware of a Technological village commissioned in Benue by Microsoft last year, and the FCT plans to build the Abuja Technological Village by 2007. This is supposed to be like the Dubai Internet City or the Silicon Valley in the US.

This centre will provide opportunities for outsourcing from international companies.

http://www.fct.gov.ng/Ministers+Office/ATV/

I also believe we still require a lot of investments in this area.




Internet Service:


I agree that Internet Access in Nigeria is still expensive. There is a lot to do in this area, and all the ISPs seem to be crowding Lagos.

I believe Internet Access should come down to about N5,000 monthly and should be provided free at secondary school level.

I am also aware there are some projects like that going on, but can't give specifics.

We need a lot of investments here.





Housing:


This is where we also need lots of investments.

We are far from the Millennium Dev Goals on housing, and i think government should stay from housing projects, and just provide the land and linking infrastructure.



I will contribute more later.

Honorable Mazi

Power Issue

Thanks a lot for your valued contribution in this development trend. I am happy that nigeria is building power stations in other sectors of the nation. BUt remember that the source of power generation should determine the strenght of these power stations. However I belive that nigeria has enough power generating medium like the kainji dam and wind generator in some places. Either way, it is all good. I also think that nigeria can contruct more dams for the sole purpose of electricity generation in nigeria. I am glad they are doing this already however I also think that they would need international attention to really compete with the world standard.

Hospital

I am also glad that the government is improving the teaching hospital but there is still need to have a hospital icon where all nigeria should go to when everything fails. Hence my proposal to build the largest african hospital along he lekki beach area of lagos. This hospital will serve as a house for other hospital just like central bank controls other banks in nigeria. Infact enhancing the local hospital by the FG is helping me towards doing this to my people becasue these local hospital will net work with the proposed largest african hospital. Doctors who do not have facilities in their local hospital can send people to this hospital for testing. All this services will be covered. Whereas, this proposed hospital fails to meet the need of a patient, we might then write to the american embassey or the Uk for possible take off to their country on health ground. This proposed hospital willl not only affect nigerias intergrity but will also increase our money value cos less money will be spent each year by individuals going abroad. Everyone will be happy.

Technology

Technology wise, there are infititesimal oppourtunity in nigeria which i will not mention cos it is still a trade secret. Every technological information is always sensitive however as a humanitarian, my intrest is in technology that will benefit the people. A technology that is not sole for money making bargain rather something that will enhance the life of our people and promote efficiency and buisness around nigeria

Internet

Internet is on aruguably still developing especially in the area of networking. On a global scale, I think that networking will pay more to nigeria at this time than the internet becasue we do not have a competitive trade market with the world standard. Hence majority of nigerian other african countries dont use credit cards. However with networking, we can improve efficiency which is what i think nigeria needs at this stage of our development and restoration.


Housing

Housing is a great area and I think a lot of people are already in this medium in abuja. FG build houses and sale it out too. HOwever I propose that town planners should look into confiscated areas like onitsha. Lagos Island use to be like onitsha confiscated population but now most of the jobs in LI has been moved to the festac area due to over crowding. Besides focus on over crowding, i think the government should look into land ternure system of nigeria to allow them build or construct estates.

Again thanks mazi for ur opinion

dejiolowe:

hospital business is not going to fly without a properly implemented health insurance scheme. i pray the FG will put as much vigor as they put for the pension stuff. it is the health insurance that makes unconditional money available to pay doctors and for equipments. that is the reason why our hospitals have gone moribound...

that is a good point, well taken and noted

The areas needed are
1. Power generation to about 10x it's current amount

2. Health care

3. Good transport, especially trains to move people and goods all over the place.

Thanks sbucareer,

But I forgot to give more details I am aware of, concerning Nuclear Energy.

The Nuclear Energy and Research center is located in the Abubakar Balewa University Kaduna, a university in Nigeria. Its part of their program, and there is a reactor currently running there, as we write.

On whether we understand Nuclear Science, you may want to know that Nigeria has the highest number of Nuclear scientists working in Naija and around the world, especially the US. Our level of Intellect is never in question in the world.

Sorry, I forgot to mention that the same energy commission said Nigeria is committed to reusable energy by 2015. Research is going on in all forms of energy generation.

The professionals are very aware of the risks involved in Nuclear energy, that's why they are still researching on it, and I believe they'll come up with an energy development plan, the absence of which, we have power problems in the first place.

With the economy growing at an average of 8%, only an irresponsible govt like the past ones will go to sleep as regards planning for the future.


On your list of other forms of energy, Lagos state is planning a power plant from biogas, apparently taking advantage of the huge refuse in Lagos. I think its still in the planning stage. Not too sure.

In the northern part of the country, Solar power is widely used. I am even considering solar power in my place in Abuja. There is a lot of sunshine in that part of the country.

All the power plants being constructed in the south are based on Gas, one in Adamawa is a hydro plant.

On Wind, I am not aware on any project currently on.


Summarily, I am not comfortable with Nuclear Energy, and believe the experts will do a good job, on the best form of generating enough for now and the future.

PS: South Africa does have Nuclear Energy, so we wouldn't be the first in Africa.


Back to other areas on investments:


Communication:

The country is launching its communication satellite later this year, this is in addition to the one also being launched (not sure when) by a group of African countries of which Nigeria is also part of.

The satellite is supposed to hugely reduce satellite communication costs in Africa and promote integration within its members.

Already 10 African countries including Egypt and Ghana have indicated interest in having bandwith on the satellite.
The government has also indicated that the satellite is not totally a commercial venture, but a tool to promote African integration, hence bandwith is supposed to be very cheap for government institutions etc within Africa.

Once again, Nigeria playing the big brother role.

I believe the cost of Data Communication, Networking and Internet Access will reduce considerably with the use of the satellite by Banks, ISPs, GSM networks etc.




Transport:


One of the key areas like obong mentioned.

Infact the high cost of food items is believed to be hugely due to high transportation costs. That's why for instance pounded yam is a common stable food in the middle belt, but an expensive delicay in the south east. Meanwhile we have only a distance of less than 500kms between Imo and Benue.

I am aware that the FG has awarded a contract to dredge the Niger, after the initial contract was revoked. This will provide water way transport for goods from the north to the south.
I hope they will be focused this time.

With the water ways open, It'll be interesting to invest in boats or barges to convey goods on the route. It should be profitable.

Also the Lagos State govt has been talking about a metro line project in Lagos since 1999. Its been all talk no action.

The Chinese are looking at the railway with a view to reviving it. I hope something comes out of it.

Transportation is a major area, one needs to look into.

one lucrative business opportunity that u can do especially from a foreign land is DTH satellite TV.

Right now DSTV has a monopoly of the entire Nigerian Market. Trendtv that came up to give them some form of competition has simply gone to sleep. You can bundle this package with internet too but i suggest you do the TV one. DSTV charges as much as $40 a month for their basic package while Trendtv offered $20 for their scrap channels which has been off since december last year with no apologies or explanation.

You could also go into solar panel electricity packages for homes.

otokx:

one lucrative business opportunity that u can do especially from a foreign land is DTH satellite TV.

Right now DSTV has a monopoly of the entire Nigerian Market. Trendtv that came up to give them some form of competition has simply gone to sleep. You can bundle this package with internet too but i suggest you do the TV one. DSTV charges as much as $40 a month for their basic package while Trendtv offered $20 for their scrap channels which has been off since december last year with no apologies or explanation.

You could also go into solar panel electricity packages for homes.

DSTV is not a humanitarian investment and since not every nigerian can afford it and it is not essential, it is disqualified. Something like power, health etc are fundamental human problem. For profit making initiatives or investors. This is quiet a good area to make money. Thanks though

Mazi:

Thanks sbucareer,

But I forgot to give more details I am aware of, concerning Nuclear Energy.

The Nuclear Energy and Research center is located in the Abubakar Balewa University Kaduna, a university in Nigeria. Its part of their program, and there is a reactor currently running there, as we write.

On whether we understand Nuclear Science, you may want to know that Nigeria has the highest number of Nuclear scientists working in Naija and around the world, especially the US. Our level of Intellect is never in question in the world.

Sorry, I forgot to mention that the same energy commission said Nigeria is committed to reusable energy by 2015. Research is going on in all forms of energy generation.

The professionals are very aware of the risks involved in Nuclear energy, that's why they are still researching on it, and I believe they'll come up with an energy development plan, the absence of which, we have power problems in the first place.

With the economy growing at an average of 8%, only an irresponsible govt like the past ones will go to sleep as regards planning for the future.


On your list of other forms of energy, Lagos state is planning a power plant from biogas, apparently taking advantage of the huge refuse in Lagos. I think its still in the planning stage. Not too sure.

In the northern part of the country, Solar power is widely used. I am even considering solar power in my place in Abuja. There is a lot of sunshine in that part of the country.

All the power plants being constructed in the south are based on Gas, one in Adamawa is a hydro plant.

On Wind, I am not aware on any project currently on.


Summarily, I am not comfortable with Nuclear Energy, and believe the experts will do a good job, on the best form of generating enough for now and the future.

PS: South Africa does have Nuclear Energy, so we wouldn't be the first in Africa.


Back to other areas on investments:


Communication:

The country is launching its communication satellite later this year, this is in addition to the one also being launched (not sure when) by a group of African countries of which Nigeria is also part of.

The satellite is supposed to hugely reduce satellite communication costs in Africa and promote integration within its members.

Already 10 African countries including Egypt and Ghana have indicated interest in having bandwith on the satellite.
The government has also indicated that the satellite is not totally a commercial venture, but a tool to promote African integration, hence bandwith is supposed to be very cheap for government institutions etc within Africa.

Once again, Nigeria playing the big brother role.

I believe the cost of Data Communication, Networking and Internet Access will reduce considerably with the use of the satellite by Banks, ISPs, GSM networks etc.




Transport:


One of the key areas like obong mentioned.

Infact the high cost of food items is believed to be hugely due to high transportation costs. That's why for instance pounded yam is a common stable food in the middle belt, but an expensive delicay in the south east. Meanwhile we have only a distance of less than 500kms between Imo and Benue.

I am aware that the FG has awarded a contract to dredge the Niger, after the initial contract was revoked. This will provide water way transport for goods from the north to the south.
I hope they will be focused this time.

With the water ways open, It'll be interesting to invest in boats or barges to convey goods on the route. It should be profitable.

Also the Lagos State govt has been talking about a metro line project in Lagos since 1999. Its been all talk no action.

The Chinese are looking at the railway with a view to reviving it. I hope something comes out of it.

Transportation is a major area, one needs to look into.

Mazi

I love your comments. You are hitting the nail on the head. Well taken

"but first the PERCEPTION of how to go about it must change we must come down to earth.



Hi Guys,

There is one common factor I have noticed with Nigerians, as a people we like the best of everything (no problems with that, it’s only human to be that way) and too quickly. In other words, we'd like to run before we can even walk. Nuclear Energy!!!!!!!!!!!!!!!!!.

For starters, Nigeria as a country has only the Banking, Public, Mobile (last 6 years) and Oil and Gas sectors to provide gainful employment to Nigerians and we're talking Nuclear energy, who's going to work there? IRANIANS! We haven't even produced enough academics (Professors, Doctors, etc), with the right outlook on issues concerning the country, to power our economy forward gainfully, we're talking about Nuclear Energy. Nigerians don't even know how to be good enterprise leaders let alone run a nuclear facility. 

Realistically, we cannot even afford it. The WEST or whoever is going to build the facilities will happily take the money though. Then it'll end up like another "AJAOKUTA" because the WEST would have moved on to producing power from WATER, by harnessing HYDROGEN. (This is already being trialled in FINLAND and their target date is 2009 or thereabout) by the time we “wake” up,the world would have moved on to a cleaner and more environmentally friendly alternative. 

In Deptford, a small area in the South of London, there’s a small power plant that uses waste from all over London to produce power to an area the size of Lagos Island. So what are we talking about? Are we going to want to go JUPITER next, when we can’t even tar a road without it falling apart as soon as the rainy season sets in?

SO realistically, how does Nigeria move forward??

Guys there is  a lot of work on our hands, the generation before us have really let us down, and I will not want us to fall into that same trap by thinking up grandiose “AJAOKUTA” type ideas that are just not practical (YET) in our times. WE HAVE TO START FROM THE GROUND UP. A FRESH TEMPLATE IS WHAT WE NEED.

Has anyone bothered to ask why there aren’t any Nigerians in the annual Forbes rich list published in the US? I'm sure there are a few Nigerians that will comfortably make the list.

Well, it is because going by the GNP (Gross National Product) and GDP (Gross Domestic Product) of the country, Nigeria shouldn't even have any millionaires let alone billionaires.

Put simply, because Nigeria is not generating enough business outside the public and Oil and Gas sectors transparently, Individual wealth becomes difficult to measure. All the money generated by the country (Public Sector) is mainly from Oil and Gas, right, some of this money is "stolen", some will be used to pay public sector employee salaries, some distributed to the states and the rest will probably end up in the Banks for safe keeping.

Now for the banks, they either generate income from the deposited funds from the interest and transaction charges or by using it for Foreign exchange transactions from which they'll also generate income.

But the banks are supposed to invest some of these funds (as loans) in viable projects in the private sector, so as to enable the small business sector but this rarely happens as unfavourable terms prevent businesses from taking up such Loans. And the banks are happy to continue “making money” via foreign exchange dealings. (Hence the reason the sector had to be cleansed)

So it begs the question, if there aren't any private sector initiatives, do we really have any business gurus we can be proud of, Men/women of honour that started their businesses from scratch and are very successful today. Or why is it that a Man that started his business off the back of "kickbacks" from Government contracts can never sustain the business while alive and in Death the business dies with him. (Now, do not get me wrong, there are businesses out there that are trying their best  however they are few and far between)

You want to know why? Because he did not learn the trade from scratch in the first place, he did not sweat to make that first million, it was dropped on his lap. I have heard the likes of Warren Buffet (one of the world's richest Men) and Donald trump (a successful Real estate guru), both Americans speak and they always speak of hard Graft and a little bit of luck makes a successful entrepreneur. How does one Man (Warren Buffet - the Sage of Omaha) achieve this status? I can tell you, with Brains and not political connections, because you do not need connections when you’re picking shares to buy. AND this is the sort of empowerment we need to create for Nigerians, an environment that is not entirely dependent on the sectors I have mentioned above.

Chairmen and MD’s of Nigerian banks, the so called HARVARD, LSE and WHARTON MBA’s should know from their time at the Great institutions that funding private enterprise is the only way to grow an economy, that is if they were interested in growing the economy in the first place.

Let me explain. You see in the UK, I remember in 1988 at the height of the recession, unemployment was rife, the only Job most Nigerians could get then were public sector if u could get it, cleaning, fast food or sales assistant jobs in retail shops on the high street or as Nigerians preferred- mini-cabbing.

At the same time, the economy wasn’t strong and it was quite evident all around you, if you went to the so called poor areas of London then, there were a lot of empty run down properties, the areas were dirty and there was gloom all around.

Then another stock market crash came in 1989, further worsening the situation which eventually led to the resignation of Prime Minister Thatcher.

Now, the change that has happened between 1990 and now, for me, has been mind blowing and it all started when the Labour government came to power in 1997. The transformation was so clear that today I drive past areas that I had been to in the late ‘90’s as a young fellow partying and visiting friends, and they are just so unrecognizable, entire areas or dilapidated buildings have been regenerated. I mean, can u imagine transforming an area like Mushin (this is an area in lagos) to Ilupeju (another area in Lagos) not too far off from each other or Ikoyi in your lifetime. It’s amazing, I remember in 1997, I went to the now popular area of London called the DOCKLANDS where in the early ‘90’s they were practically begging people to come and buy houses/flats there, a brand new three bedroom flat cost about £50,000 then, in today’s money it’s now worth £500,000 or more . Now this is just one part of London.

How was this possible? Well the labour government empowered local enterprise (House building companies, Big supermarkets, Local businesses, etc)  by introducing policies that did not just benefit the companies but also the general public. It is called the public private enterprise partnership. And with the rule of Law in place such partnerships thrive, owed to the guidelines that come with such partnerships.

EXAMPLE:

When a big superstore wants to go into an area for instance, the govt might be in support of it not just because of the revenue the govt is going to make from the business, but also because of the regeneration the business will bring into the area, like jobs, new roads and any other infrastructure that will benefit the people of that area. The govt could ask them to provide say a play centre for mothers or a gym for those who want to keep fit. And in turn the govt lowers the business’s tax burden for an agreed period or gives them incentives that will allow the company to do the same in other areas. Now by doing this, the govt is indirectly placing the responsibility of job creation and community regeneration on big business and THIS IS WHAT WE NEED FOR NIGERIA.

The Nigerian government needs to give businesses incentives that will allow them operate effectively, low duties on certain imported goods, (goods like IT, TELECOMS, MANUFACTURING, FARMING, HEALTH equipment that will benefit the society is a perfect example).

For the NIGERIA of today, it is not the top end jobs that are going to show growth, it is the working class jobs that will grow the economy and it is only the enterprise sector that can do that, but first the PERCEPTION of how to go about it must change we must come down to earth.
So the SECTORS of the economy that need empowerment today are in my preferred order (we have enough doctors, lawyers, etc moreover they can’t run businesses anyway):

1. UTILITIES- Light, Water, Gas
2. HEALTHCARE- Clinics, Hospitals, Healthcentres
3. EDUCATION-
4. FARMING
5. CONSTRUCTION
6. INFRASTRUCTURE development
7. CRAFTMANSHIP – carpenters, artists, etc
8. MECHANICAL Industry – Cars, Planes, etc
9. IT/TELECOMS
10. FASHION- Hairdressers, Barbers, Designers
11. and many more, the list is endless really.

These are the sectors that will take Nigeria into the Future and must be oiled by the Banking industry.

TO BE CONTINUED………………………..

In my next offering I will go into the “HOW” of the sectors I’ve listed above.


CEO
www.neticash.com


some important points are also discussed in this thread https://www.nairaland.com/nigeria/topic-867.0.html

@neticash

Summarily, you are out of point. You are replying to a different topic, at least for the most part of your reply.

Please take some time to read our earlier replies, that should put you in the picture.

In addition, I can cofortably tell you that you are very uninformed about latest developments in Nigeria especially in the last 2-3 years. Some of these things I have listed in earlier posts.

Please make it a duty to visit these sites every morning and evening, like i do:


www.nigeriaworld.com
www.nigeria.gov.ng (Here you can watch NTA news and listen to Radio Nigeria)
You would also find links to Nigerian dailies.


we await your suggestions on the topic being discussed: Areas of Investment in Naija

Mazi,

I'm definitely not out of point, I chose to answer the topic from that particular perspective, because I know that we Nigerians, myself inclusive are sometimes very unrealistic as to what can or cannot be achieved in the current political landscape called Nigeria. This is my own way of addressing the topic and it should be respected and also for your information I have worked with Nigerians in Nigeria, I have employed Nigerians (seasoned Graduates at that) in Nigeria and paid good wages at that, but what did I get back in return. (Of course my employees were doing me a favour by working for me right!!!!)

Look, to buttress my point on perception, I posted this reply on January 22, 2006 and on January 24, 2006. Nigeriaworld carried a perfect example of how the Nigerian banks had not taken care of the issue of perception before they decided to take on MASTERCARD as a service. Read this topic: Foreign Firms Reject E-payment From Nigeria at https://www.nairaland.com/nigeria/topic-5770.0.html It says it all.

I still maintain that a realistic perception of what is attainable in Nigeria is where we all need to start from we need to work from the ground up. You and I and all those who have contributed to this topic are all right. We all have the ideas, but we need to address the issues that make our ideas short lived. That's all I'm trying to say.

Nigeria is a great place, but we have very deep rooted problems that we need to address. If an employee of a company can think that he is doing that company a favour by working for it, then there is a problem. So I will rather start the discourse from here.


How do we perceive ourselves and how can that help us build good businesses and good business leaders. If we do not address this then all the discussion on projects et al, will be a flash in the pan.

I await your comments

Thanks

NETICASH

When Larger_20 called for areas of investments in Nigeria, he believed just like the rest of us who have contributed so far, that the Nigerian government and people are now ready to take their rightfull place in Africa and the rest of the world, and hence have put in place policies and structures to deal with our problems inculing perception, and encourage investments in our country.

We have seen a lot of investments coming in, we are encouraged, and we want to make our own investments in the country.

Once again, we are all aware of the numerous problems we had in the past and still do, but we are encouraged by the efforts to change that so far, and the results we have also seen so far.

We are also aware that Nigeria's and indeed no country's problem can be completely eradicated. We would have to wait till we get to heaven, before we see such perfection.

The main thing is that we have started.

Now, to list the fundamentals to be done to encourage investments like neticash has identified would be a repitition, as some of those steps are already in place, while others are being implemented. We are all aware of the NEEDS and SEEDS reform program by the FG and State Govt, which have recieved lots of accolades by the International community which ensured the country got the debt write off from the paris club.


So guys, the steps, structures, reforms etc are in place.

Now we want to invest in areas that should be profitable as well as meeting the UN MDGs set for 2015.


Lets have more contributions towards that.

Thanks.

Hi Mazi,

Well said. I really appreciate the  understanding in the tone of your comments.  I will now go on to suggest that the government first needs to embark on a re-education or reorientation programme that will sensitize and re-educate Nigerians. Programmes that will help us realise who we are as a people, programmes that will dispell this NORTH-SOUTH divide palava, programmes that will unite us as a people. Programmes like "WAI", that will encourage patriotism and discipline and they must be real projects not conduits for embezzlement of funds (this has been the problem in the past).

The programmes must be uniting not dividing, and must teach us that whether you are a farmer or teacher or pepper seller or engineer or HARVARD graduate, the number one thing is that you are Nigerian. YES, I know that the prejudices will be there, but there must always be that uniting factor, that camaraderie that can always unite us in times like these.

Without a successful implementation of these programmes, all else is a waste of time. It'll be like wanting to build a house without a foundation.

Whatever the government is doing (NEEDS or SEEDS) must be visible and inviting to Nigerian entrepreneurs both at home and abroad, then we'll be better equiped to suggest or recommend what will be good for our economy. Right now there's no blue print to work from. And I do not think either of us can come up with blueprints.

We can make recommendations, but that's all and there'll be plenty of that.

In my next post I will try to make my recommendations, but I'll leave you with this document for NOW: reference http://www.fundforpeace.org/media/speeches/lyman01.php

[center]Nigeria's Economic Prospects:
an International Perspective 
Princton Lyman
presented at a US-Nigeria Investment Conference
Abuja, Nigeria
September 2004  [/center]



Problems of infrastructure -- power especially, but still also telecommunications, roads, and railroads -- make Nigeria increasingly less competitive in a globalizing economy. Above all, as pointed out earlier, poverty remains the overriding fact of life for most Nigerians.

Then there is the state of justice. To reduce corruption, achieve transparency, and strengthen accountability, there must be justice. Nigeria's once proud system of justice, in particular the judiciary, has lost much of its lustre. That feeds the skepticism about the anti-corruption drive as well as the prospects for personal security. Restoring the independence and capacity of the judiciary would also restore confidence to Nigerian and international business that Nigeria is a predictable investment environment in which commercial and investor rights are protected, and disputes are resolved in a fair and unbiased manner. Perhaps this is an area that Nigeria's strong bar association and legal community can take on as their cause.

THE INTERNATIONAL PERSPECTIVE

But I am not going to go any further into detail on the economy. One thing I know, from years of involvement in Nigeria: there is nothing that foreigners -- even from the Council on Foreign Relations -- can tell Nigeria about the economy, and what needs to be done that Nigerians do not already know full well. The problems are of long standing, the prescriptions are almost obvious, above all there are scores of Nigerians -- in government, the private sector, the universities, and the media -- who have analyzed these issues and understand exactly what steps are necessary. The purpose of the Council's project is thus not to come up with new formulas, or offer some new source of profound advice. Our purpose is to encourage Nigeria on its own path of reform and development, and to provide a bridge to the international community about what is happening here and what the international community can do to support those efforts.

Perceptions of reform

With that in mind, let me turn not so much to what perceptions are here in Nigeria about the state of reform and the prospects of success, but those in the international community, as best as I can discern. I will not speak about the perspectives of the International Financial Institutions -- the IMF and the World Bank. They speak for themselves, and you have just seen in the media commentary, rather favourable I would note, from the head of the IMF mission, Mr. Menachem Katz.

Rather I want to reflect on more general opinion, but opinion that influences the reaction of governments and the private sector. First of all, let me emphasize the positive. There has been considerable admiration and great expectations from the economic team assembled by President Obasanjo in his second term. This admiration was furthered by the frank assessment of the economy produced early in the administration and the practical, step by step plan for reform that the team prepared. That plan is now, as noted, embodied in NEEDS. Nigeria*s signature to the Extractive Industries Transparency Initiative was also welcomed along with the initial steps to bring transparency to the oil sector. The other achievements, noted above, have also been well received.

But the skepticism that is present within Nigeria is mirrored in many parts of the international community. And for all the same reasons: the disappointments in the past, the still imperfect implementation of reforms, worry over continued corruption, and the lack of supporting infrastructure. There is also incomplete understanding of how the system really works in Nigeria. The reality of the federal structure is not all that apparent abroad, namely that much of whether Nigeria succeeds or not rests not with the federal government but with the state and local governments. International knowledge of what is happening on those levels is spotty and incomplete. Most of the reports on those levels are of political infighting, election irregularities, violence, and again corruption. Governors and local governments that are making significant progress and serving their constituents well are rarely reported. But whether the overall record is good or bad, the truth is that Nigeria will succeed or fail largely on the basis of performance at those levels.

As that fact becomes better recognized, I would expect greater international attention to the role that state and local governments are playing. I note the report of a recent seminar here in Abuja on budget and budgeting at the state level. The need for greater transparency, oversight, and accountability was stressed as was the role of civil society and the media. I would stress too the need for much more investment in agriculture, with clear understandings of the responsibilities at all levels of government for this sector. The African Union has on more than one occasion pledged that African nations will devote no less than ten per cent of their budgets to this sector. Yet few countries have actually achieved that target. Nigeria must do so.

Power shortages and similar shortcomings in infrastructure are another serious source of concern and a long term one. Nigeria has for far too long allowed its power sector to be badly managed. As a result, Nigeria today, with a population of perhaps 130 million people, produces little more than ten per cent of the power produced in South Africa with forty million people. The World Bank recently estimated that the power shortfall in Nigeria adds 16 per cent to the cost of production here. In an increasingly globalized economy, that almost puts Nigeria out of the running in many sectors. Already a flood of consumer goods from Asia is challenging domestic production and leading to the shutdown of key industries. The government projects a doubling of power generation over the next several years, but even if that is achieved it is not necessarily enough. The question is, with admitted reform and increased power projections on the books, can Nigeria truly move fast enough, with enough will and unity of purpose, to overcome this handicap in time? Or will Nigeria fall ever more behind?

Security

There is another great concern in the international community. The level of violence, whether religious, ethnic, political or communal, seems to be rising and in some areas almost out of control. Perhaps most disturbing are reports of militias, some even organized and armed by political leaders, terrorizing communities, enforcing one political elite or ethnic group's will on others, committing in some cases large scale violence. The linkage of these militias with corrupt practices, with oil bunkering in the delta but also with other sources of illicit support elsewhere, suggests the very structure of the state is becoming vulnerable.

From abroad, it may be too easy to exaggerate the significance of this violence. But it is not an exaggeration to say that these reports set off alarm bells in the international community.

Not long ago, a report was issued by an international agency that monitors piracy, stating that the Gulf of Guinea was the most dangerous area of piracy in the world today.

As soon as that report was issued, I began receiving calls from businessmen, media and others as to whether this report, along with earlier reports of internal violence, portended a break-up of Nigeria altogether. Indeed the fear that Nigeria may well be in danger of collapse is not far from the minds of some distant observers.

I hasten to add that I do not share that fear. Nigeria has a better sense of its national identity and an understanding of the incentives for unity than many countries, a sense that can transcend the divisions in Nigerian society. As one Nigerian friend said to me recently, "Nigerians have a way of transforming impossible obstacles into something else." Nevertheless, the levels of violence, and the seeming loss of government control over law and order, indeed the participation of some parts of government in the undermining of that order, are ominous. Left to continue they could undermine the reality of a stable Nigerian state even while its formal structure remains. Naturally, the specter of violence does nothing to encourage foreign investors.

The Institutionalisation of Reform

Finally, there is concern over the future of reforms. How much will they be institutionalized? How much can be expected in the remaining years of the Obasanjo administration? How much are they dependent upon one administration rather than a commitment from all political parties? Primary among these reforms, in the minds of the international community, is increased transparency and sound management of Nigeria's oil and gas proceeds. That is the sine qua non of credibility and respect within the international community. Without real progress in that direction, few will have faith in Nigeria's economic future.

Looking ahead to what we all hope will be a better managed and far more widely acceptable election process in 2007, will economic policy be debated substantively, differences debated frankly, and a direction made clear by whichever party emerges as victor as to the path of reform and essential investment? Here both civil society and political leaders bear a heavy responsibility. The election process itself will be a bell weather. People are looking for substantial improvements. There is a direct relationship between the degree of transparency and credibility of the political process and perceptions of the economic viability of a country like Nigeria. Especially in the age of NEPAD and the expectations generated by African leaders in adopting that program, the progress of democracy and development cannot be separated in the minds of the international community, and I would guess in the minds of Nigerians as well.

RESPONSIBILITIES OF THE INTERNATIONAL COMMUNITY

I have spoken mostly of what is happening here and how it is perceived, correctly or imperfectly abroad. But I want to turn to the responsibilities of the international community. After all, one of the purposes of the Council on Foreign Relations project is to bring Nigeria's progress and promise to the attention of the international community and to encourage an appropriate response.

In that regard, I do not think we in the international community have done enough, either in understanding Nigeria's situation or in responding to its needs. First of all there is a glib feeling that Nigeria is at its base, a rich country. A recent study of West Africa's oil reserves estimated that Nigeria would earn more than $110 billion from oil over the coming decade, with additional earnings from natural gas. That is an impressive figure. But it translates into less than $1,000 per person in that period or less than $100 per capita annually. It is impressive in its total, and if it used rightly can make an enormous difference, but alone that will not transform Nigeria from its present status as alas one of the poorest countries of the world.

Second, and especially with oil prices at nearly record highs, there is little support for debt relief even though Nigeria's debt is a significant drag on its budget and a source of discontent.

Third, although there is tremendous appreciation for what Nigeria has done and continues to do on behalf of peace in the region, and with commitment of Nigerian peacekeepers not only in West Africa but now in Sudan, there is deep resistance within some quarters for cooperation with Nigerian security forces. This arises from human rights violations by those forces in responding to domestic violence. Those violations are serious, but by not being prepared to join in helping to improve security -- including the commitment to practices that protect human rights --we blind ourselves to the seriousness of the law and order situation within Nigeria.

Finally, we have to do more to encourage foreign direct investment. For that purpose, I salute the Corporate Council on Africa, not only for the conference we are attending this week but for a dedicated long term commitment to that objective.

What is then possible to improve this situation?

Nothing of course is more important than what is done here, by Nigeria and Nigerians. I don't have to tell this audience that. The reform and the development programs must be carried forward with even greater promise of results. For their part, the private sector, civil society, and the media, need to go beyond skepticism to concrete action. That involves supporting the reforms that are in process, acknowledging those that are succeeding, and advocating for those that need to be done or done better, especially those that would begin to impact directly on the lives of the people. That will help to lift the deep mood of skepticism and pessimism that pervades much of society, a mood that can be self-fulfilling, and replacing it with a determination to succeed.

For the international community I would like to see a more formal pact in support of Nigeria. It is not yet realistic to get agreement on substantial debt relief for Nigeria for all the reasons I have mentioned. It is too early in the reform process, and still too much skepticism that must be overcome. But I would like to see agreement on a clear roadmap. A roadmap that lays out the measures of reform, especially of transparency, that are expected, with an agreement that within a fixed period of time and when those measure are in place, serious debt relief will be undertaken. I see that not just for the relief from debt payments, but as a sign of support and encouragement to the reform process. This is one objective that we have advocated and will continue to advocate.

Second, we need to encourage a much deeper engagement with Nigeria, and thereby engender a much deeper understanding of what is happening here, what is at stake, and what we can do together. I am saddened by the long hiatus in our cooperation in the field of higher education, where once there were interchanges across our country and yours, between the best of Nigerian universities and ours. I am glad that American foundations -- Rockefeller, Carnegie, Mac Arthur and Ford -- are once again taking up this endeavor.

Third, there needs to be a broader and deeper official engagement with Nigeria. One step in this direction has been the appointment of an absolutely splendid American Ambassador to Nigeria, John Campbell. He has a long history with this country and is a man of great understanding and commitment. I mourn, however, the decision some years ago by my government, to close our consulate in Kaduna. Not only does this place a hardship on many Nigerians seeking visas to the United States which now must be obtained in Lagos, it deprives us of a presence in the northern part of the country. We lack such presence in the east and in the delta as well. We need dialogue and understanding with all parts of Nigeria, especially in an age where religious tensions and misunderstandings are so prominent, here and in the world at large.

To pursue these objectives, we at the Council on Foreign Relations will continue to provide a forum for Nigerian officials and distinguished visitors in New York and Washington, where these issues can be frankly discussed with leaders in politics, business and finance. We will also continue our dialogue here in Nigeria, extending it to more states and with broader audiences.

I am especially pleased on this trip to have with me two very distinguished members of the Council on Foreign Relations:

Walter Russell Mead, one of the most recognized and distinguished writers on American foreign policy today, and Pauline Baker, President of the Fund for Peace and a long time friend and scholar on Nigeria. I am grateful that they took time from their very busy schedules to be here.

Conclusion

I always say when I return from a visit to Nigeria that it was fun. People stare and say, "But how so with so many problems there?" And I reply that there is something wonderful, something special in the spirit of Nigeria, in that of Nigerians, that offers friendship, that gives hope, that includes a healthy dose of laughter, a dynamism that in the face of all the challenges, leaves one with faith in the future of this great country. This trip is no exception. I thank you all for this opportunity.


Thanks

NETICASH

If you ask me Nigeria needs a [glow=blue,2,50]Project Managers[/glow] to manage and run the conutry. Because Nigeria herself is a project and by my estimation needs 50 years to manage under good project manager.  She needs someone with 30 years of sucessfull project management to lead us.  We don't need liars like lawyers, accountants, ex-leaders and millitary junters.

For jees sake what would it take to fix Nigeria?  My heart bleeds for that country, I wakeup everyday and say to myself I wish Nigeria was like London. But isn't that ironic, London was once like Nigeria corruption, crime, slavery etc. but the revolute and fight off the bad leaders.  Well, maybe we should do the same.

We all know what is good and how to make it good.  So what is the problem then?  What is holding us back? I don't like that saying that Nigerian are Intelligent, intelligent my foot.  To live in a nice house and probably drive the most expensive car in a poor road makes you intelligent, haaar!.  We can not even be accepted in world wide ecommerce because of Nigeria attainment in fraud.

No proper good and sucessful infrastructure has been put up after the colonial reigm.  Maybe we should call back the colonial master back in again.  I would not like it more than any one of you but I'd been in a better hands to these crimainals ruling us.

@sbucareer

You are off the point too.

The Government should invest in the Judicial system, Build High wall prisons with one way in. In my suggestion, One of the

states should be converted into a prison and a 50,000,000 block room cells built with pure concert. More than half the Nigerian's population need to be in Jail for the country to find it's track.

By the time we have law abiding citizens on the street of the Nation, then these areas I think will be of great benefit to

the Nigerian citizens if they are improved or invested in. Remember people are not in power to make money for the country but to make sure that money generated through tax and other means are used to run the country effectively.

1, Shelter- The Government should build houses and not sell, because the Nigerians that need home can't even afford to

pay their rent, so i will advice paying council tax, and should be monitored closely or someone goes to Jail.

2, Food,- The government should support farmers by providing funds at low interest rate, also machinery should

be provide at local government level and all laws that makes a man not willing to farm own so much land which is left to fallow be amended. Thus he that want to farm should have access to land for lease for as long as he has strength

3, Education,- Money should be pumped into this area in other to retain the best brains in the field. High quality teacher/lecturers will imply high quality students/ quality workforce.

4, Health- Health is wealth, but we are sick because we don't eat healthy meals, free basic health care facilities will be provided for the mass.

5, Infrastructure- No doubt this will aid economic growth. Power, water supply, good road network etc

6, Finally- Setting up a vocation school in every community. Every youth will be empowered by this move.

This I believe well make the country stable for further investment by the private sector.
For now I will rather invest in Ghana
than my country.