duno:

@bolded, dont be surprised that it will be invested in our politicians pocket network.
All the reforming and restructuring done by govts over the world as u said would have worked here if only our govt is sincere. This does not happen to be the case as these monies will eventually be looted and shared among our politicians while the ORDINARY people are left

M M M:

Gej whyGej why

Muza:

I dont know why u guyz still dont get it,

Let me summarise wat GEJ said in one sentence: "Subsidy is going"

then let me now explain,he means fuel will soon go for N140 per litre,Nigerians wont know wat hit them,which will send a rippple effect through-out the economy and raise the the price of everysingle thing in Naigeria from transport,food,clothes,school-fees,rent. . .etc,everything u can think of,
And why he said ordinary man is that the rich will,continue to steal or get contracts,their salaries and allowance will increase many folds to meet their needs and that of their families,while the poor will continue to wallow in poverty.
I guess GEJ is a nice guy for hinting u guyz to sit up,reduce your stomaches and tighten your belts,cos sure hard times are coming your way and aint nothing u can do about it,you voted him,didnt u?

lets see wat d daft GEJ apologists will say. . .

2bosun:

There is absolutely nothing wrong with what he is trying to do in creating proper incentives for local manufacturers like May & Baker, but he has to strike the right balance between tightening import regulations and creating these incentives. Goods would become expensive (which is probably why he said it would be painful) and push up inflation without this sort of balance- because at moment it is cheaper to import some commodities into the country than to manufacture them locally- which shows how much work needs on the economy outside the import rules.

He has to allow the market to dictate prices to an extent and also focus on creating a conducive environment for foreign investors. Completely "shutting the door" on importation alone would be the right move at the wrong time.

warrior01:

President Goodluck Jonathan has said the Federal Government would take hard decisions in its bid to move the economy forward.


He said: “Those hard decisions will affect importation of products.” He promised to use the next four years to work in ensuring that irritating investment environments were addressed.

The President commended the efforts of the management of May and Baker, adding that other companies should emulates them.

The chairman of the company, General Theophilus Danjuma, who described May & Baker as the country’s leading pharmaceutical company, told President Jonathan that the company currently has 800 staff on its payroll.

Danjuma also stated that the company was in the process of obtaining the World Health Organisation’s global regulation certificate and assured that it would continue to meet and promote global standard.

please, can someone tell me what is wrong in trying to encourage local manufacturers, create the right incentives through waivers and tax holidays just for the likes of the OP to have something doing?

Muza:

I dont know why u guyz still dont get it,

Let me summarise wat GEJ said in one sentence: "Subsidy is going"

then let me now explain,he means fuel will soon go for N140 per litre,Nigerians wont know wat hit them,which will send a rippple effect through-out the economy and raise the the price of everysingle thing in Naigeria from transport,food,clothes,school-fees,rent. . .etc,everything u can think of,
And why he said ordinary man is that the rich will,continue to steal or get contracts,their salaries and allowance will increase many folds to meet their needs and that of their families,while the poor will continue to wallow in poverty.
I guess GEJ is a nice guy for hinting u guyz to sit up,reduce your stomaches and tighten your belts,cos sure hard times are coming your way and aint nothing u can do about it,you voted him,didnt u?

lets see wat d daft GEJ apologists will say. . .

AK 46 + 1:

GEJ is right; no pain no gain. I would do same if I were in his shoes.
Reforming and restructuring is nothing new, govts all over the world use them to meet their economic plans.
If we really want to survive as a nation and grow to become an economic powerhouse, then, I'm afraid we have no other way out.
I strongly believe that;
1. Fuel subsidy, for exemple, should be gradually faced out.
2. Govt should introduce some form of road tax for all vehicle in Nigeria; fuel tax; or combination of both.
3. Commercial vehicle should be exempted from paying road tax.
4. The proceeds from these taxes should be invested in our road network.

Do you have an economic death-wish for Nigeria?

nateevs:



Do you know how much the government loses from unpaid income taxes?
Do you know how much income the government loses from the ports?
Immigration? How much money will government make if everyone pays for their driver's license?
Oil bunkering?


These are just a few examples of a tonne ways of generating more revenue.

martinosi:

Please note your bold point,

Every President in Africa,Nigeria included has to come to
point of making a decision in order to grow their economy.

Am i going to tax corporations effectively and make them contribute to the growth of the host economy they are benefiting from

or

Am i going to tax my citizens heavily or cut public expenditure
to please my International Investors be they Banks or Corporations in order to give them subsidies, tax breaks and other benefits to keep them operating in my country with disregard and gross business impunity to the enviroment they operate in and locals they employ.

So the questions is

A - Tax Profits ie Corporations be they Local or International

or

B - Tax Overheads ie Nigerian workers who are already under pressure and on economic life support!!!

I guess we can see from past and current events that african and Nigerian leaders
dont have the guts/balls/politcal will power to do "A" so it going to be "B"

cap28:

thanks bro - always so knowledgeable

if i might add - multinational corporations that operate arround the world now have powers which SUPERSEDE AND OVERRULE THE POWERS OF SOVEREIGN STATES.  These powers are conferred upon them by the World Trade Organisation - this organisation is permitted by law to overrule or dilute laws in individual sovereign nations which are deemed RESTRICTIVE to foreign investment- all nations that are signatories are expected to: lower tarrifs, remove subsidies and treat foreign companies like domestic ones.  The WTO also has the power to force member countries to remove certain trade restrictions that adversely affect foreign investors, should a country refuse to change its laws in order to comply with a WTO ruling the offending country could face fines or international trade sanctions.

otokx:

The day GEJ removes petrol subsidy that will be the start of the Nigerian revolution.

iwonbaoko:

clearly you don't know what you are talking about