efighter:


No, but because only shameless people beg their enemy for food.

You should have told us how buhari is feeding the enemy and which business buhari owns that generates billions of dollars which would be used for the project.

Illiterate.

jayfolarin:


I still have to disagree with your point undermining the effect of public infrastructure spending in economic development.

China's sustained high economic growth and increased competitiveness in manufacturing has been underpinned by a massive development of physical infrastructure.

Ofcourse, labour force and private investments have played some roles, economists around the world have concluded that the one and most important factor in China's economy soaring to the top in the last decade has been their massive investment in public Infrastructure.

Ofcourse, a goverment can't focus on only this but it should be at the very very top of the list.

Here is a research paper on China's concentration on infrastructure in case you are interested
https://ideas.repec.org/p/jet/dpaper/dpaper261.html

While I commend you for pointing at actual economic research to support your assertions - something nearly as rare on Nairaland as spotting unicorns - you need to keep in mind two things, namely

(1) The paper you cite doesn't account for the last word on the subject by any means - Google Scholar turns up 143 direct citations, which ignores all the other research that doesn't directly cite it. By no means all of that literature is as favorable to China's non-stop infrastructure spending as you think, and indeed, it's just basic economics that there is a minimum rate of return that any investment has to meet to be worthwhile.

(2) The economic research in favor of prioritizing human capital over even infrastructure spending - especially at the primary-to-secondary level - is simply overwhelming. On the order of 80% of all long-term growth in per-capita incomes over the last 200 years has come from gains in knowledge, not through building ever more bridges, roads and rail tracks. It is precisely for this reason that countries like Germany and Japan were able to recover so quickly from states of utter devastation at the end of World War 2: what matters most is what people have between their ears, not concrete and steel structures. This has been increasingly the case even in infrastructure-crazed China , as the low-hanging fruit of copycat growth has gradually given way to more knowledge-intensive growth.

A sensible government more interested in long-term development, rather than in juicy contracts for politicians to embezzle from, would spend all that money on extending the quantity and quality of primary/secondary education throughout the country, particularly in the north: not only would this improve the ability of Nigeria's young to participate in higher-value economic activity, it would also have the tremendous benefit of lowering the northern fertility rate, as the more education girls receive, the less interested they are in spending the rest of their lives acting as mindless baby-machines.

Ebenezar2020:
One thing I like about Amaechi and all other ministers making up Buhari's cabinet is that they don't believe in Audio implementation.
When once they profess to execute a project they'll execute it perfectly to completion.
God give them more grease to their elbows as they work together towards the development and progress of the Nation.

Name one project they have started n completed

efighter:


I trust you, you will ride on it as a true son of Biafra.

am no Biafra supporter even though am from dey Southern region

jayfolarin:


I still have to disagree with your point undermining the effect of public infrastructure spending in economic development.

China's sustained high economic growth and increased competitiveness in manufacturing has been underpinned by a massive development of physical infrastructure.

Ofcourse, labour force and private investments have played some roles, economists around the world have concluded that the one and most important factor in China's economy soaring to the top in the last decade has been their massive investment in public Infrastructure.

Ofcourse, a goverment can't focus on only this but it should be at the very very top of the list.

Here is a research paper on China's concentration on infrastructure in case you are interested
https://ideas.repec.org/p/jet/dpaper/dpaper261.html

My point still stands: China's rapid growth was not in isolation.

It seems public spending is Buhari only magic wand to stimulate the economy. There are many other drivers.

He could cut company taxes to between 12-15%. He can end the multiple exchange rates policies which he introduced and which scares discourages foreign investors. Just these 2 reforms alone can add 3-5% to the country's annual growth rate.

Nigeria can't afford to be wholly dependent on public spending. The country's inflation rate is already to high and debt levels are becoming unsustainable.

omohayek:

While I commend you for pointing at actual economic research to support your assertions - something nearly as rare on Nairaland as spotting unicorns - you need to keep in mind two things, namely

(1) The paper you cite doesn't account for the last word on the subject by any means - Google Scholar turns up 143 direct citations, which ignores all the other research that doesn't directly cite it. By no means all of that literature is as favorable to China's non-stop infrastructure spending as you think, and indeed, it's just basic economics that there is a minimum rate of return that any investment has to meet to be worthwhile.

(2) The economic research in favor of prioritizing human capital over even infrastructure spending - especially at the primary-to-secondary level - is simply overwhelming. On the order of 80% of all long-term growth in per-capita incomes over the last 200 years has come from gains in knowledge, not through building ever more bridges, roads and rail tracks. It is precisely for this reason that countries like Germany and Japan were able to recover so quickly from states of utter devastation at the end of World War 2: what matters most is what people have between their ears, not concrete and steel structures. This has been increasingly the case even in infrastructure-crazed China , as the low-hanging fruit of copycat growth has gradually given way to more knowledge-intensive growth.

A sensible government more interested in long-term development, rather than in juicy contracts for politicians to embezzle from, would spend all that money on extending the quantity and quality of primary/secondary education throughout the country, particularly in the north: not only would this improve the ability of Nigeria's young to participate in higher-value economic activity, it would also have the tremendous benefit of lowering the northern fertility rate, as the more education girls receive, the less interested they are in spending the rest of their lives acting as mindless baby-machines.

China infrastructal binge is crazy.

The most annoying are the bridges linking mainland China to Hong Kong and Macau. These were already wealthy principalities and showed the worthlessness of it. These 2 place administrative places would have gotten richer without them.

Instead of building bridges, the money would have been better spent building homes in Hong Kong, where a housing deficit is at scandalous levels.

Yet, China is building ghost cities on the mainland. Just incomprehensible.