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Nairaland Forum / Nairaland / General / Politics / Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption (38587 Views)
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Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Kennedyli: 7:47pm On Jul 02, 2022 |
Ijoba85:Go and look for a job. If you had one or a business you'd understand what I mean. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by SeaTrade(m): 7:48pm On Jul 02, 2022 |
PHOTSEE:Where did I say capital market isn't important? I said we don't need foreign investors in our capital market at this point in our economy because they're the ones putting strain on our naira because they'll eventually have to repatriate their profits/capital. Let them leave the capital market for Nigerians to invest in ,who might have little to no need to use whatever naira they make from it to be chasing fx. 1 Like |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Kennedyli: 7:48pm On Jul 02, 2022 |
IbileIfe:Yet you and him don't know the basics of credit, inflation and lending. I pity those who hire you. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Kennedyli: 7:51pm On Jul 02, 2022 |
kayperry: Yea, and in 15 years the naira will be 3000/ dollar, while servicing a fixed rate loan. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Everlastingson: 7:51pm On Jul 02, 2022 |
See who's talking about credit system and stopping corruption. We don't need your lies to survive. Peter Obi is our choice. You talk about corruption but bullion van is resident in your compound. Hypocrite. APC said more than this in 2015. You can't hoodwink Nigerians for the 2nd time. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Kennedyli: 7:52pm On Jul 02, 2022 |
Midastorch:Comparing Nigeria whose currwnvalue has fallen from 180 to 600 in 7 years to abroad. Sit down and think. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by wirinet(m): 7:52pm On Jul 02, 2022 |
pacesetting: With diesel at 900/litre, horrible roads and multiple taxation - both legal and illegal? Remember the SMEs will have to compete in terms of price and quality with SMEs in China, Vietnam and India. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Kennedyli: 7:52pm On Jul 02, 2022 |
geosegun:Why not correct me? |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by FrankAnsah: 7:54pm On Jul 02, 2022 |
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Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by SeaTrade(m): 7:54pm On Jul 02, 2022 |
Kennedyli:25%? It's not that bad yet,commercial banks are still doing 17-19%. Banks are giving high interests because MPR is still double digit. If CBN reduces MPR,bank will reduce lending rates.Its not rocket science. And yes,banks can give longterm credit if CBN also gives them long term credit facilities(mentioned this cos I saw where you talked about the impossibility of banks to give long term credit because of unstable naira). Devaluation or not. Afterall it's not their money. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Saintinoo(m): 7:55pm On Jul 02, 2022 |
wirinet: For you to develop the manufacturering sector, you must develop the power and mining sector. Where will the manufacturers get raw materials from. Ask innoson how much has spend on steel, Dangote how much he spends to get lime stone. These raw materials should be made available and easy to get by manufacturers. And about China, those guys are having a field day because the government is corrupt. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by SeaTrade(m): 7:59pm On Jul 02, 2022 |
wirinet:Easy fix,increase Chinese and India import tarriff at the ports to offset local cost disadvantage inefficiencies. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by SeaTrade(m): 8:03pm On Jul 02, 2022 |
Saintinoo:Steel mining isn't developing here because of cheaper imports of the same steel. It's not government's place to make steel available for industry,let the private sector handle that if they can. I also don't think we aren't manufacturing a great deal because of lack of mining capacities. There are great nations out there that don't even have steel deposits. How then did they do it? Only thing they need to fix is power. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Everlastingson: 8:07pm On Jul 02, 2022 |
SeaTrade: You need help |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Wpp1: 8:09pm On Jul 02, 2022 |
Failure awaits nigeria again |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Everlastingson: 8:09pm On Jul 02, 2022 |
Af0nja: Akuko Mike Ejeagha |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by wirinet(m): 8:10pm On Jul 02, 2022 |
Saintinoo: I now understand what you mean by mining. You mean mining for local industries as against mining to collect rent. I am still not convinced as mining is prone to abuse. Since we do not possess the machinery, technical knowhow and refining capacity to process mined materials to usable materials, we will still have to depend on the Chinese and Indians to mine for us. And you know how these people are degrading the people and the environment in other parts of Africa. I will prefer we import raw materials from and recycle for now. There is an enormous potential in recycling old materials into new raw materials. Even the recycling industry is dominated by Chinese and Indians. I will prefer Tinubu or Peter Obi talks about building manpower and skills apart from infrastructures essential for development. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Af0nja: 8:10pm On Jul 02, 2022 |
Everlastingson: Okwu Mazi Iti Komkom |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Kennedyli: 8:12pm On Jul 02, 2022 |
SeaTrade:Devaluation or not? Banks are businesses and have shareholders to satisfy. How would theuy gix the rate if the naira isn't stable? Or are you suggesting the government fund personal loans, mortgages and others? When above 80%of Nigeria's revenue is going for debt servicing. Which money will government use to fix electricity, roads, and others? You guys should be realistic with your projections. You fell for buhari and here you are projecting the same unattainable talking points. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Everlastingson: 8:12pm On Jul 02, 2022 |
trutharena: Trash!! |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Teenaira: 8:14pm On Jul 02, 2022 |
pacesetting: Every country in the world have both Macro and micro economic issues. Infact, the two economic indicators are twins. My brother, let's tell our self the truth, I have never seen a people so hard working like Nigerians. Our problems are more of structural, administrative and political. I am sure you want a better Nigeria, that is exactly what I want and many Nigerians. See, Nigeria have population meaning we have a strong market. Meaning we have a big market for both products and services. Our service sector is a bit okay but we have a poor production sector because our environment is not in anyway supporting production. So we have a very poor production efficiency. EFFICIENCY is the most important concept in a free market economy. If we have the right environment to support production today, I can assure you most of our Igbo brothers doing importation will start moving to production. I don't want us to criminalise our brothers doing importation, they are not criminals and they are not undermining the economy, instead, I will want you to see them as being in the service sector. Everybody in the world would have wanted to invest in Nigeria because we have a BIG market but we got to work very hard to remove most of the structural, administrative and political issues. They are indeed the killer. There is no part of this country that is not endowed with both abundance of natural and human resources. So I don't agree with Peter Obi, on the issue of importation rather than production. I am not an Igbo man but I know the Igbos are not in anyway undermining the economy, rather they are providing a service for which their is a big DEMAND. If the environment supports production, a lot of the importers will move into production. Anybody who wants to be president must be ready and prepared to face all manners of challenges, there is no magic wand anywhere. The politicians are the biggest issues. They will promise heaven on Earth and then they will end up creating more problems, so the country continues to deteriorate. They are the one undermining the economy and heating up the polity. The biggest issue right now is that we don't have a country. 1 Like |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by wirinet(m): 8:17pm On Jul 02, 2022 |
SeaTrade: You obviously are not in the real (productive) business. Probably you are an admin person. I have undertaken many productive businesses. Steel (and recently plastics) is the backbone any industrialisation. countries use steel bans and tarrif as an effective weapon in a diplomatic or economic war. Nigeria's industrialisation was stalled because of the failure of Ajaokuta and Delta steel industries. Nations without steel deposits import from other countries. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Tvibes001(m): 8:20pm On Jul 02, 2022 |
trutharena:Insulting people you want to convince. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by yawehoverall: 8:21pm On Jul 02, 2022 |
Fake and empty promises won't hold water this time again, as a king maker, what did you do right in this present dispensation, under your watch alot of persons has lost their lives across the federation, food item on a daily increase, but you were just scheming to rule since it's your turn.. it's too late. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by SeaTrade(m): 8:23pm On Jul 02, 2022 |
Kennedyli:Rates wouldn't matter to them much if the CBN is giving them bigger credit(increase credit limit),isn't that so? Commercial banks can't be talking about devaluation affecting their profits for long term loans/mortgages when the capital they used to finance those loans isn't theirs or was gotten on credit from CBN. They can hedge against devaluation and make profits for their shareholders from commercial loans and use the excess credit gotten from CBN to finance long term ones. And please,credit isn't free money mr man,they'll repay. Did FG/CBN tell you that naira based debt servicing is their problem?Did they tell you they lack naira? Where they have issues on debt servicing is foreign dollar based loans as they have to earn it before they repay. The only thing they'll own here is liability for default, not devaluation as whatever transaction they make with CBN is naira based. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Saintinoo(m): 8:29pm On Jul 02, 2022 |
SeaTrade: No sir, those great nations you are talking about have the technology and man power, they get raw materials from undeveloped countries at a very cheap price, process it and sell their finished goods to the same undeveloped countries at higher price. For Nigeria to fully develop, it must break this chain, how will the country so this? It must invest in man power development. Nigeria needs to develop it raw materials sector, produce and consume what it produce. Africa countries tried to break this chain with the "New International Economic order" without success. The poster above me who talked about man power development is very right. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by MartinsD12(m): 8:31pm On Jul 02, 2022 |
soojar:And you think this is America, examine your mentality. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Harmlesspill(m): 8:31pm On Jul 02, 2022 |
Coming from a corruption boss himself |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by MartinsD12(m): 8:32pm On Jul 02, 2022 |
Golan007:How many loans has Nigeria government given you since you are alive? |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by Golan007: 8:33pm On Jul 02, 2022 |
MartinsD12: Who is talking about government giving loans? Honestly, this issue seems more above the understanding of many of you. No offence. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by SeaTrade(m): 8:34pm On Jul 02, 2022 |
wirinet:The way you people assume and throw words around without knowing who you're talking to baffle me a lot. Oga there are countries that have developed their steel sector so much that the economies of scale they've acquired on it has made them unbeatable in the international steel market. They can produce it cheaper and sell cheaper and make Nigeria investing on it stupid since an industrialist can always import from those countries way cheaper than he would have gotten buying from Nigeria. You don't just go about investing out of emotions. Steel isn't a sector that has an international cartel like OPEC that fixes it's price worldwide. If not for OPEC,Nigeria oil would have been useless because countries like US,Saudi,Russia would have use their capacity to make Nigeria oil unsellable and useless. We can discuss without you throwing words around please. |
Re: Tinubu: Until We Have A Good Credit System, We Can't Conquer Corruption by kayperry: 8:35pm On Jul 02, 2022 |
Kennedyli: it could be more or less, if we start doing the rights like producing, exporting and refining our own cruel oil, naira will gather flour wey soak yeast. Stop being emotional, credit service system has more advantages than whatever disadvantage you bear in mind .... i remember my dad bought some expensive home appliances on credit system way back in 2004 .. from my experience the payback was much feasible than waiting to save the huge amount required. 1 Like |
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