B3ACHSIDE:
Nigeria is a poor country and i'm not sure what concrete master plan the leaders have in place to overcome it's current quagmire. They just seem to be borrowing and wasting billions each year on baseless projects . How long will it be until the bubble bust ?
I suggest Nigeria adopts a social democratic model (70 percent socialism/30 percent capitalism) . Device a master plan and start step by step from each town or city ,demolish everything and build mass housing. Could be About 240 cities cities to be built ,not sure, but little by little it all pans out.

The city china built at Angola cost $3 billion dollars , took 2 years to complete ,with capacity of at least 800,000 residents . Nigeria and other African countries should emulate that method, and it could be much cheaper if you use indigenous engineers and perhaps other professional volunteers .
You do not need the tallest skyscrapers to build an organized and lawful society. Nigeria will never developed without this method because there's so much poverty and disability in Nigeria, and the world market is saturated . Forget about seaports,airports and all of those big projects for now and focus on the basics. Aim to reduce importations. Food sufficiency should be priority before even thinking of exporting.

@bolded.


I have always thought about this, if i am the president or governor of a state, that's what i will do.

wirinet:


They just don't understand that we are actually very poor. Imagine just $206 billion in 5 years for a population of 200 million.
That's just $206 per person per year. That's is even not taking into consideration that over 20% of that money is used for debt servicing. Out of the remaining money, 70 is spent by about 1% of the rolling elites - civil servants and political office holders, and then the remaining 30% is supposed to be spent for the rest of the masses (capital expenditure ), of which half is also embezzled by politicians.

So in the end, the masses end up with nothing.

It is precisely because of such paltry numbers that some of us have been advocating for so long for measures to encourage FDI on a massive scale: Nigeria's government and people are simply too poor to source all the necessary funding from internal savings, even if all corruption were magically abolished overnight.

The great tragedy is that Buhari's every instinct has gone in the opposite direction, adopting statist, protectionist measures which have encouraged capital flight while further bloating the government's already oversized obligations, and then compounding the error by embarking on a massive borrowing spree largely underwritten by Chinese loans whose terms are secret. Like Trump and Dubya, Buhari has managed, through his seemingly bottomless incompetence, the almost impossible feat of making his spectacularly inept predecessor GEJ look like a paragon of wisdom by comparison.

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Jsaviour:


And government gets 50-85% of the profit of oil companies as tax. So technically, they still got the bulk of the money.

Where is the money now? Why is buhari's administration still borrowing? Why is Nigeria the capital poverty of the world when such money enter this nation yearly?

Stop making excuses for failure please.

The truth is that the politicians are the problem of Nigeria starting from Babangida, Abacha, Good luck, Obasanjo, buhari down to your senators, reps, governors and locla government chairmen.

They rape the nation dry and some of you who have never seen 1 million naira all their lives are defending them.

Whoever cursed Nigerians with being docile in the face of death did the charm well.

Weldone!!


On the other hand, the nation will keep slipping into abject poverty if we as a nation refuse to industrialize.

What is our GDP per year? Almost nothing

No production or creative services for major bulk export.

Our GDP is over $400 billion

PDP aka OPEC is lying

Wow. We don't look like a country that needs assistance. We should be using this money to better the lives of the citizens. I think it's time to join the conversation. It's time to seek help from the right quarters.