The Ghanaian government has filed for bankruptcy after failing to pay billions of dollars it owed to international creditors in December.

Ghana would not be bankrupt if they allowed Nigerian traders to thrive and pay taxes.

Instead, they are focused on unproductive African Diasporan returnees

A Bankrupt Ghana is still millions times better than Nigeria economically

Kenneth4u205:
A Bankrupt Ghana is still millions times better than Nigeria economically

Ghana is far behind Nigeria

For Ghana to make any headway they must first of all throw away their stupid laws that makes it difficult for Nigerians to do business in their country such as the stupid Ghana card before Nigerians can open bank account and other backward yearly renewal resident permits

Kenneth4u205:
A Bankrupt Ghana is still millions times better than Nigeria economically

No it is not! As bad as things are in Nigeria, we are better than most African countries, especially Ghana.

Kenneth4u205:
A Bankrupt Ghana is still millions times better than Nigeria economically

It's either you are uninformed
Or
Just being mischievous
Or
Just being plain Stoopid.

Ghana Economy no pass Oyo state own.....e no even near Ogun or Rivers state. The only thing you guy can say they have is stable electricity ....I mean who wouldn't have electricity with a 34 million population most of whom still don't have access to electricity

akingangan:
The Ghanaian government has filed for bankruptcy after failing to pay billions of dollars it owed to international creditors in December.

Ghana would not be bankrupt if they allowed Nigerian traders to thrive and pay taxes.

Instead, they are focused on unproductive African Diasporan returnees

You mean they should have simply allowed our 'developers' freehand to help them deverop their economy?

The only thing I believe Ghana is good is there diaspora Confidentiality, visa application time frame and non-bias report from academic records of civil service workers.

Yeah

ican2020:

Ghana is far behind Nigeria

For Ghana to make any headway they must first of all throw away their stupid laws that makes it difficult for Nigerians to do business in their country such as the stupid Ghana card before Nigerians can open bank account and other backward yearly renewal resident permits

Every serious country have similar laws.

In the UK, you need valid resident permits to open bank accounts and these Biometric Resident Permits need to be renewed.

Ghana has gold that does not need much refining but not making the best use of their natural resources.

Kenneth4u205:
A Bankrupt Ghana is still millions times better than Nigeria economically

Do you know Ghana’s national debt in relation to her Gross Domestic Product (GDP) for the year 2023 stands at 98.7%?

Do you know the Ghanaian government owes independent power producers $1.58 billion?

Rolings:


It's either you are uninformed
Or
Just being mischievous
Or
Just being plain Stoopid.

Ghana Economy no pass Oyo state own.....e no even near Ogun or Rivers state. The only thing you guy can say they have is stable electricity ....I mean who wouldn't have electricity with a 34 million population most of whom still don't have access to electricity

Al Jazeera once did a report on Ghana economy a few years ago. As you said, the only good thing was stable electricity.

Even that, some people were disconnecting themselves from the power supply for hours at a time, otherwise their bills would be heavy

Next to go bankrupt is Zimbabwe, then South Africa, followed by Nigeria, should this catastrophic administration remain in place.

Kenneth4u205:
A Bankrupt Ghana is still millions times better than Nigeria economically

Here are a series of videos on how things are in Ghana


https://www.youtube.com/watch?v=_C0GV1CXA-s


https://www.youtube.com/watch?v=Io5beac0FmU

BoldBrainz:
Next to go bankrupt is Zimbabwe, then South Africa, followed by Nigeria, should this catastrophic administration remain in place.

Zim is bankrupt as is Nigeria, SA is not far behind.

All because our economies are dependent on extractive resources, not on manufacturing and industries.

nairalanda1:


Zim is bankrupt as is Nigeria, SA is not far behind.

All because our economies are dependent on extractive resources, not on manufacturing and industries.

And you cannot boost manufacturing on an economic scale if you fail to address micro-economic foundations, one of which is stable electricity, followed by palatable policies meant to foster the ease of doing business.

We're just playing in this country. It's not as if the government lacks the requisite knowledge as regards the proper steps to be taken. They'll rather bask in profitable corruption practices, just to meet their sinister gains.

BoldBrainz:


And you cannot boost manufacturing on an economic scale if you fail to address micro-economic foundations, one of which is stable electricity, followed by palatable policies meant to foster the ease of doing business.

We're just playing in this country. It's not as if the government lacks the requisite knowledge as regards the proper steps to be taken. They'll rather bask in profitable corruption practices, just to meet their sinister gains.

And you cannot get stable electricity without paying the appropriate price for it. Ditto micro economic stuff

But no, you go call me wicked for insisting power companies set their price, so that they can afford to make the needed improvements we need to have power supply.

Allow the business people do business, instead of widening our already bad deficit with subsidies because poor must breathe,

(Simple)

A big part of why we are broke is because we try to pretend essential services are cheap.

nairalanda1:


And you cannot get stable electricity without paying the appropriate price for it. Ditto micro economic stuff

But no, you go call me wicked for insisting power companies set their price, so that they can afford to make the needed improvements we need to have power supply.

Allow the business people do business, instead of widening our already bad deficit with subsidies because poor must breathe,

(Simple)

A big part of why we are broke is because we try to pretend essential services are cheap.

It is absolutely criminal and insensitive for Gencos and Discos to dwell on the consistent increase in consumer tariffs when the electricity being paid for is lacking in both quality and quantity.

I find it even more distasteful that the NERC has abysmally failed in its statutory obligation, following the deregulation of electricity in Nigeria, after about 15years. This is to further cement the fact that the privatisation drive was a deceitful initiative from the get-go.

Otherwise, how best can one explain the fact that the FG is still subsidising electricity years after liberalising the industry? Obasanjo privatised the telecoms industry and it did not take us above 4years to begin reaping the huge benefits.

So asking the Nigerian populace to continually stomach increase in electricity tariffs in the face of non-existent electricity, is tantamount to daylight robbery. The so-called deregulation should be holistically reviewed.

Nigerians are not beasts of burdens!

BoldBrainz:


It is absolutely criminal and insensitive for Gencos and Discos to dwell on the consistent increase in consumer tariffs when the electricity being paid for is lacking in both quality and quantity.

I find it even more distasteful that the NERC has abysmally failed in its statutory obligation, following the deregulation of electricity in Nigeria, after about 15years. This is to further cement the fact that the privatisation drive was a deceitful initiative from the get-go.

Otherwise, how best can one explain the fact that the FG is still subsidising electricity years after liberalising the industry? Obasanjo privatised the telecoms industry and it did not take us above 4years to begin reaping the huge benefits.

So asking the Nigerian populace to continually stomach increase in electricity tariffs in the face of non-existent electricity, is tantamount to daylight robbery. The so-called deregulation should be holistically reviewed.

Nigerians are not beasts of burdens!

In other words, if you were running a (hypothetical) business selling bread that cost you N1000 to bake , you would sell that bread at N200 so that the poor can breathe after all.

Sadly, that's not how life works. Things cost money.

nairalanda1:



In other words, if you were running a (hypothetical) business selling bread that cost you N1000 to bake , you would sell that bread at N200 so that the poor can breathe after all.

Sadly, that's not how life works. Things cost money.

You're putting up very wrong comparative analysis, and that's always been my problem with you.

The foundation of electricity deregulation was faulty. The foundation of Tinubu's subsidy removal was faulty.

These are the core basics of this conversation, not the operational indices of individual businesses.

BoldBrainz:


You're putting up very wrong comparative analysis, and that's always been my problem with you.

The foundation of electricity deregulation was faulty. The foundation of Tinubu's subsidy removal was faulty.

These are the core basics of this conversation, not the operational indices of individual businesses.

No I am not, and you know it.

You are asking for cheap electricity. There is no such thing as cheap electricity.

And our government has been setting the prices of power in the country, which has made most of the power sector to operate at a loss.

Anyway, if you have time....

Read the below. It opened my eyes to a lot of things, though the process started in 2013. Our power sector's problems start from the fact that it is not allowed to set its prices, and the subsidy paid is scanty to meet its needs.

You don't have to read it , of course. It is not mandatory. But if you want to understand why I have thought the way I think for the past 10 years...yes before Bubu took over....read it.

https://www.pwc.com/ng/en/assets/pdf/solving-liquidity-crunch-nigerian-power.pdf

nairalanda1:


No I am not, and you know it.

You are asking for cheap electricity. There is no such thing as cheap electricity.

And our government has been setting the prices of power in the country, which has made most of the power sector to operate at a loss.

Anyway, if you have time....

Read the below. It opened my eyes to a lot of things, though the process started in 2013. Our power sector's problems start from the fact that it is not allowed to set its prices, and the subsidy paid is scanty to meet its needs.

You don't have to read it , of course. It is not mandatory. But if you want to understand why I have thought the way I think for the past 10 years...yes before Bubu took over....read it.

https://www.pwc.com/ng/en/assets/pdf/solving-liquidity-crunch-nigerian-power.pdf

Look, if there's one thing I know about Nigerians, it's the fact that we have no qualms paying for services and commodities, so long as there's the guarantee of quality and commensurate quantity.

When Obasanjo deregulated the telecoms industry, Sim cards were even more expensive than small phones. My first MTN sim cost me 36K and I paid in two installments. Subsequently, patronage informed competitiveness to the point we're here today.

There's no single IPhone that has been produced that didn't find its way to the Nigerian markets in less than a month after release. And most of these end users have always been the middle class earners.

You cannot raise electricity tarrifs thrice in the space of three months without improving on service delivery, then be championing the course for compliance by Nigerians. It is wrong and fraudulent. Even in this Abuja, there's basically no week residents don't contend with power outages for at least an entire day.

You have to be a very poor businessman to set up a business that fails to meet the satisfaction of your customers, then wake up to increase your prices and still be crying about lack of patronage. That's madness!

Generate and distribute proper electricity to Nigerians, then watch and see if people will complain about hikes in tariffs. Do you have any idea how much SMEs in Nigeria burn annually to provide electricity for themselves just to keep their businesses afloat?

There's a deliberate sabotage in Nigeria's energy industry because a handful of elites are benefiting from the menace that is the importation of generators and we both know this. So stop trying to scapegoat the masses on this issue!

BoldBrainz:


Look, if there's one thing I know about Nigerians, it's the fact that we have no qualms paying for services and commodities, so long as there's the guarantee of quality and commensurate quantity.

When Obasanjo deregulated the telecoms industry, Sim cards were even more expensive than small phones. My first MTN sim cost me 36K and I paid in two installments. Subsequently, patronage informed competitiveness to the point we're here today.

There's no single IPhone that has been produced that didn't find its way to the Nigerian markets in less than a month after release. And most of these end users have always been the middle class earners.

You cannot raise electricity tarrifs thrice in the space of three months without improving on service delivery, then be championing the course for compliance by Nigerians. It is wrong and fraudulent. Even in this Abuja, there's basically no week residents don't contend with power outages for at least an entire day.

You have to be a very poor businessman to set up a business that fails to meet the satisfaction of your customers, then wake up to increase your prices and still be crying about lack of patronage. That's madness!

Generate and distribute proper electricity to Nigerians, then watch and see if people will complain about hikes in tariffs. Do you have any idea how much SMEs in Nigeria burn annually to provide electricity for themselves just to keep their businesses afloat?

There's a deliberate sabotage in Nigeria's energy industry because a handful of elites are benefiting from the menace that is the importation of generators and we both know this. So stop trying to scapegoat the masses on this issue!

I am old enough to remember when GSM came to Nigeria. Tarrifs were sky high and service was bad...and I mean bad.

At one point you could not use an MTN phone to call a ECONET phone. A sim cost as high as N10000 . Nothing like internet at all in the early days. Serivce was bad, very bad. And all for a very high price in those days.

But the heavy profits made enabled them to pay for improvements, which is why we have the things we have.Including home internet..

Power sector has been suffering price controls. At one point, Buhari did not let them raise prices for 2 years. And the price they charge is way below what they actually need. Four of them are now under the control of the banks..ie the discos...all because they were not allowed to make a profit.

When you bring in price controls, bad service results.

Kaduna state used to run a chain of low cost shops. You bought products at a cheap price ...cheaper than even the market. And it collaped in a few years because at the end it was not sustainable.

Anyway, read my link. It would inform you better.

And anyway, where would you expect the power companies to get the money to make things better? Take a loan...which many have done and cannot pay back because...price controls inducing losses.

nairalanda1:



I am old enough to remember when GSM came to Nigeria. Tarrifs were sky high and service was bad...and I mean bad.

At one point you could not use an MTN phone to call a ECONET phone. A sim cost as high as N10000 . Nothing like internet at all in the early days. Serivce was bad, very bad. And all for a very high price in those days.

But the heavy profits made enabled them to pay for improvements, which is why we have the things we have.Including home internet..

Power sector has been suffering price controls. At one point, Buhari did not let them raise prices for 2 years. And the price they charge is way below what they actually need. Four of them are now under the control of the banks..ie the discos...all because they were not allowed to make a profit.

When you bring in price controls, bad service results.

Kaduna state used to run a chain of low cost shops. You bought products at a cheap price ...cheaper than even the market. And it collaped in a few years because at the end it was not sustainable.

Anyway, read my link. It would inform you better.

And anyway, where would you expect the power companies to get the money to make things better? Take a loan...which many have done and cannot pay back because...price controls inducing losses.

Price controls became necessary when it was obvious that the companies holding forte in the electricity industry were charging Nigerians for non-existent services. That's when the issue of partial subsidies (which you term price control) became an alternative.

If my recollections are exact, the GEJ Federal Government, wanting to reduce financial burdens on the masses, offered to "cap" tariffs at a rate that was to be reviewed by the NERC and the companies, then government will be paying the surplus, until such a time the companies could improve enough on generation and distribution to be able to justify hikes in tariffs. And that is rightly what any responsible government would have done.

But the energy companies woefully failed to improve electricity delivery while always seeking to push tariffs to cut-throat rates.

At no point in recent history did the Nigerian government stop electricity companies from increasing tariffs without stepping in to subsidise the deficit. These people are just thieves working in cahoots with dubious elites to squeeze the average Nigerian of resources while failing to facilitate improvements in their services.

BoldBrainz:


Price controls became necessary when it was obvious that the companies holding forte in the electricity industry were charging Nigerians for non-existent services. That's when the issue of partial subsidies (which you term price control) became an alternative.

If my recollections are exact, the GEJ Federal Government, wanting to reduce financial burdens on the masses, offered to "cap" tariffs at a rate that was to be reviewed by the NERC and the companies, then government will be paying the surplus, until such a time the companies could improve enough on generation and distribution to be able to justify hikes in tariffs. And that is rightly what any responsible government would have done.

But the energy companies woefully failed to improve electricity delivery while always seeking to push tariffs to cut-throat rates.

At no point in recent history did the Nigerian government stop electricity companies from increasing tariffs without stepping in to subsidise the deficit. These people are just thieves working in cahoots with dubious elites to squeeze the average Nigerian of resources while failing to facilitate improvements in their services.

And you can see, the subsidy and price controls thing is not working

GSM had no price controls. That's why it works. They make enough profit as a result.

The power sector never has had that advantage.

Read the link.

(End.).