NaijadrivaCars:


Lies. Population is an advantage if well utilised. Besides, we have the resources.

Leave him to keep believing that lie... If we were less populated, our leaders would merely have more to steal.

ajl:


Population growth is not the problem but poor management and distribution of resources is main issue with Nigeria. Huge population demand that they are productive and add value to the economy. Go ask China how they are able to do this. Of course, there is some point legal population control is needed especially when economy growth rate is not meeting rate of population growth. China did this, and once it was out of the wood it stopped pursuing the one child per family policy as seriously as before.

Population should be a strength in any situation if you have good management skills but unfortunately, our crop of leaders are myopic, and complacent. To think that we can’t be proud of 5000 megawatts is incomprehensible. The problem is inherent with we black people. Do you know how nice South Africa was in the 90’s? Even though they had their peculiar problems ( (apartheid), yet, it a was a pride of Africa. Now, you need to see how wretched the country is. Our so called leaders is the brain behind our underdevelopment.

Once a great nation were did our leader get it wrong, l weep for my country Nigeria.

Results of coward leadership and over population

NaijadrivaCars:
Nugeria's International Passport stamped in October 1982 When 1164.84 US Dollars was 800 Naira.

Let's be guided. This same issue happens all over the world. Back in 1982, the amount of dollars used in purchasing a car back then in the US has increased drastically now in 2020. Money is meant to appreciate with time. It doesn't have anything to do with the economy entirely. U can't keep buying a particular thing for the same amount for the rest of your life.

Xisnin:
You still miss the point. What is the population of "Dubai"? What is the yearly budget of "Dubai"?
Now compare those with Nigeria's.

we are talking about physical capital. you're talking about population

how does population hinder physical development

michlins:
Truth is that exchange rate isn't a determinant of how good an economy is. For instance, Ghana cedis exchanges higher than the Chinese currency and Korean won and that doesn't mean Ghana has a better economy. Another example is the Kuwait Dina which exchanges for almost $1000/dinar. During the said time, very few people can afford to buy a car even when it sold for #4000. But we have folks buying used cars today for tens of millions.

Having said the above, it's undeniable that Nigeria didn't have potential back in the day. It's just that we had lots of petrodollars and less population and the government then was able to do her job without borrowing like today. Forget all the glorious tales our parents told us about how quick you can get jobs. That's because there were fewer graduates then. We need total overhaul of this country

I don't agree completely with the first paragraph pertaining to the claims.
The value of the exchange gives an indication of how your economy is doing in the international market which is pegged on the dollar' depending on the country, for example China currency is usually manipulated by China's central bank just to cushion the economic shocks by it's trading partners (countries China is trading with that use the dollars).
Again China economy is very industrialized that doesn't depend on import i.e that does not requires the use of the dollar.
These countries currencies are usually valued in their respective countries but certain goods and services the value of the dollars is seen. we do shy away from the realities of the dollars but we experience the effect of the exchange rate during import, export, tourism, studying abroad which could cripple an existing economy.
For example I would use Ghana as a case study there was a time the exchange rate of cedis to dollars was very high because Ghana economy was dependent on the dollars for import 80%, prices of goods and services was doubled, this is a clear ripple effect on the economy because investors was lamenting if they could invest because of they cannot afford it when the citizens can't afford their products and services.
Don't be deceived.

SIRTee15:


It's not about salary or minimum wage....
Its the purchasing power that matters....
In tho 70s, things were cheap and the little salary can actually go a long way....
U could buy basic food stuffs with coins and few naira....

My Dad bought his first car in 1979, just few months after he started working as a teacher......
And he paid cash for it.....
I doubt a new oil and gas worker can pull such stunt now....

Inflation and naira depreciation over the years, has led to constant rise in cost of living without a commensurate rise in wages....
That's what our parents complained about....

The truth is working n middle class had it better then than now....

Only the govt or billionaires can buy brand new cars these days. Meanwhile buying cars then mean buying brand new car. Belgium or tokunbo is just yesterday's terminology. Each time I look at my kids, I just shake my head. I remember walking by a showroom in 1978, a beetle car, brand new, was N15k.
The worst is living in a country and you have no idea how to go. My neighbours son who graduated with a 1st class honours at 23 is parading everywhere now looking for where to apply for job. What next??
.

Smartypant:


One of the best posts I have read on NL in a while. The bold part is the biggest reason for the level of poverty in Nigeria. The country's economy is growing at 2 to 2.5 percent per year while the Population is growing at the rate of 6 to 7 percent.
When my Father graduated from University, he was the 2nd in the his family and one of the first in the whole town. They were begging him to come and join various govt Ministries. Now you have so many people graduating from glorified High schools and with fewer opportunities.
I know that China and India also had population explosion hence they also still have large percentage of their population that are still in poverty.
They have done better than Nigeria because their people have been able to come up with technologies that the rest of the world needs like IT and Machinery.
Until Nigerians to some extent are able to come up with goods and services that the world needs, don't expect any significant change in the over all standard of living in the country. Science is the KEY, not Churches and Mosques.

There is something you guys are missing. You don’t have to be a graduate to have a job and a decent source of livelihood. There are diverse skill sets that can be utilized in a good environment. If we have adequate production plants, do you know how many skilled and unskilled folks would be employed? It revolves around and multiply. Should we cough out money to buy things in cash if we have a functioning society? No. Most times, in these developed countries, they live from hand to mouth and can afford anything you can think of. They buy houses and pay over 30 years; they buy cars and pay over a duration ( e.g. 69 months).
Do you believe that we have foreigners that can do menial jobs abroad even with their MSc joyfully?
It’s a leadership problem.

bigtt76:
You said it all. Not everyone could afford that N800 back then. How much was the minimum wage again? People should stop using the past to hurt themselves. We can't turn back the hands of time... Those days are gone and buried!

how many can afford 400k now. At least a graduate working then could afford it. But right now many working class people cannot still afford 400k. One of the major reason our money value keep depreciating is because we depend wholly on inportation of goods.

Kazymavee:


Let's be guided. This same issue happens all over the world. Back in 1982, the amount of dollars used in purchasing a car back then in the US has increased drastically now in 2020. Money is meant to appreciate with time. It doesn't have anything to do with the economy entirely. U can't keep buying a particular thing for the same amount for the rest of your life.

What you said is a truism. I don't think that is the issue at stake. The point is that the difference between N800 and N462,000 in less than 40years is gargantuan. It is unimaginable. This makes us more millionaires who can barely eke out a living
.

michlins:
Truth is that exchange rate isn't a determinant of how good an economy is. For instance, Ghana cedis exchanges higher than the Chinese currency and Korean won and that doesn't mean Ghana has a better economy. Another example is the Kuwait Dina which exchanges for almost $1000/dinar. During the said time, very few people can afford to buy a car even when it sold for #4000. But we have folks buying used cars today for tens of millions.

Having said the above, it's undeniable that Nigeria didn't have potential back in the day. It's just that we had lots of petrodollars and less population and the government then was able to do her job without borrowing like today. Forget all the glorious tales our parents told us about how quick you can get jobs. That's because there were fewer graduates then. We need total overhaul of this country

GBAM!

Queenlovely:
I cannot continue to do the same thing everyday and expect a change in this country things have got to change, but we cannot continue with the old formula you need a new formula FORMULA X
if I have 200 friends in every town and villages in Nigeria we send these thieves into exile and reclaim back our country,


Whatsapp my manager on 0903 1745 610

I wish you good luck

7thLemonLOVER:
Atimes when you read about Nigeria's economic exploit back from the past, the present seems impossible to understand.

I mean how did the economy got so bad? One answer, "is tribalism and corruption" .

How many Nigerians could afford 800 naira then

SoNature:



Nigeria was ever great

We just had an economy we couldn't manage

All the leaders needed was just time to show that the economy the colonial master gave us was difficult for them to run

Managing an economy is the most difficult task before a leader

Managing an economy is different from what the lecturers teach in the classroom, managing an economy is just what happens in the market to a trader or business man. That's the pros and cons.

aspiring44:


The SAP brought us to our knees today.

Same thing buhari is doing borrowing left , right and centre .
If money borrowed is spent judiciously and not frittered away then the best await us , but if not sorry is our name.

I have reservations on the pros and cons of SAP. It was foisted on us by our lenders as one of the conditions to access the loan then. Anytime, you will always be at the mercy of your lender. Should we have taken advantage of the program? Yes, but unfortunately, we had frauds and crooks as leaders.
Let’s take Bayelsa State as an example. Less population with decent appropriation from the Federal Government. Do they have anything to show for it in the last 20 years? I doubt that. My home state Osun. That nincompoop called Aregbesola left over 150 billion as debts with less than 1billion monthly IGR. He even squandered tax payers fund on an airport that was never completed in 8 years. What was he rewarded with after 8 years? A ministerial appointment. These guys are meant to judiciously appropriate our common wealth and not squander it. I pray we should have a different administration in 2023, then you would see the rot, waste, abuse and monumental fraud this APC Government is.
When the head is sick, the whole body would be sick.

wow in the early eighties my mum told me she paid 30naira as school fees in secondary sch then.

Somebody should tell Nigerians Embassy in to reopen so it citizen can come and processes their passport.

Investnow2017:


Only the govt or billionaires can buy brand new cars these days. Meanwhile buying cars then mean buying brand new car. Belgium or tokunbo is just yesterday's terminology. Each time I look at my kids, I just shake my head. I remember walking by a showroom in 1978, a beetle car, brand new, was N15k.
The worst is living in a country and you have no idea how to go. My neighbours son who graduated with a 1st class honours at 23 is parading everywhere now looking for where to apply for job. What next??
.

My dad bought his new beetle car few months after working as a teacher.....
Now u save n save for a tokunbo car....

Of course people were not earning a lot then....
But their take home could actually see them through until the end of the month....

Also, the stronger naira meant imported products were cheap.....
The main reason why manufacturing flourished prior to SAP.....because imported raw materials weren't expensive.....

But after SAP implementation....
The economy crumbled and standard of living took a dive, never to recover....
It wasn't helped by poor economic performance of successive govt, who had no clue on how to revamp a dying economy.....
If salary was adjusted for rising inflation.....there won't be much problem...
But that never happened n middle class collapsed....

For example in 1993, a pair of jeans was around 1000 naira, yet starting salary of a teacher was around 13 thousand per year.....
U can imagine....
When Abacha announced the minimum of 7000 naira in 1997....
People thought it was impossible and unimaginable....
That was our messed up the standard of living was those days....

The truth is our leaders nevr

Sweeetheart:



we are talking about physical capital. you're talking about population


how does population hinder physical development

That question has simple answers.

Physical capital can't be made out of thin air.
More population means:
More salaries to pay politicians and civil servants.
More subsidy to pay for education, health, agriculture and many others
Project money has to be shared across the board instead of concentrating on key projects.
More pressure on infrastructure which means they won't last.

Nigeria spends about 70% of the yearly budget on recurring expenditures. That is not an accident.

A country with a quarter of Nigeria's population but with similar resources and
the same level of corruption will be able to do more capital wise.

Remember, we have 20 times the population of the UAE.

ajl:


Population growth is not the problem but poor management and distribution of resources is main issue with Nigeria. Huge population demand that they are productive and add value to the economy. Go ask China how they are able to do this. Of course, there is some point legal population control is needed especially when economy growth rate is not meeting rate of population growth. China did this, and once it was out of the wood it stopped pursuing the one child per family policy as seriously as before.

China is no promise land. They've been successful in bringing many out of poverty but even they had to slow population growth too (One child policy?).

The bottom 200m+ Chinese people are very likely poorer than our bottom 200m people.
I.e. There are more poor there than here. Probably seek a better example.

We know that mismanagement/Leadership incompetence is an issue but even when that is solved we still have to soft pedal on the growth.

Show me a developed Western nation (you admire) with a Population growth like ours.

michlins:
Truth is that exchange rate isn't a determinant of how good an economy is. For instance, Ghana cedis exchanges higher than the Chinese currency and Korean won and that doesn't mean Ghana has a better economy. Another example is the Kuwait Dina which exchanges for almost $1000/dinar. During the said time, very few people can afford to buy a car even when it sold for #4000. But we have folks buying used cars today for tens of millions.

Having said the above, it's undeniable that Nigeria didn't have potential back in the day. It's just that we had lots of petrodollars and less population and the government then was able to do her job without borrowing like today. Forget all the glorious tales our parents told us about how quick you can get jobs. That's because there were fewer graduates then. We need total overhaul of this country

Total overhaul is not a thing.

Be specific... what and what are you overhauling?

My brother, this not being specific is how some people became president after screaming up and down with passion. Las las, things only got worse. This is the same issue I have with those revolution now guys

justscorchone:
Since i was born till now I have not enjoyed the benefits of being a Nigerian

You are not alone

NaijadrivaCars:


Lies. Population is an advantage if well utilised. Besides, we have the resources.

over population depletes resources.
we were only hanging on back then, coz population as against the resources were less, mind you nigeria never harnessed it’s resources to its full potential.
we are suffering the consequences now.

Sweeetheart:



nonsense theory. this doesn't mean the past leaders and citizens then did not failed us


Nigeria discovered oil in 1956, Dubai discovered theirs in 1966 but look at Dubai today and look at Nigeria. I'm not even talking about human development here, I'm talking about physical development


this country na hopeless and useless country, there is no soothsaying about that

The leaders of dubai have dubai abi nationalism in them over here na our pockets

NaijadrivaCars:


Lies. Population is an advantage if well utilised. Besides, we have the resources.

Let be realistic population is not an advantage in nigeria context what economic advantage is d millions of illiterate almajiri children to Nigeria?what can they add to d GDP?

[quote author=Xisnin post=90342660][/quote]


So how many education and health did Nigeria pay money for since independence my analyst?


Since 1960 till date, your country failed to stabilize power sector because of corruption and you're splitting nonsense


Go and check how much was taken to foreign countries by Nigeria politicians since independence. I haven't even talk about the one they've in Nigeria and other Africa countries


You need a global Knowledge to know you've a backward country. Nigeria is a failed state and any country that want to progress must not emulate this disaster called country

strangest:
when did Buhari enter government for the first time?

1983

Wow!


What a time in the life of my great country!

There was a country

7thLemonLOVER:
Atimes when you read about Nigeria's economic exploit back from the past, the present seems impossible to understand.

I mean how did the economy got so bad? One answer, "is tribalism and corruption" .

You said one answer but you gave two. I pick tribalism. It's worse than death.

InvertedHammer:

/
That's because your father ain't Einstein. So the fuel price that came down was a curse to you according to your father's theory? Of course I am not advocating I.Q tests as prerequisite for procreation.



\

He said nothing about prices not coming down.... just being able to afford it either way it goes. Going by this your comment, the IQ testing won't be good for you