All hail cityboy

omoadeleye:
They should move in their head office to Nigeria or move out of Nigeria

That is all you have to say about this calamity. Your stupidity is irredeemable aswear

AbuTwins:
When they gained you inform us?

Of course they informed you. That's why they release financial statements

Gbadugbakun:
The worst thing about Tinubu's failure is that despite the fact that his failure is visible even to the blind, his tribalistic followers are still defending him.

They can only defend him online until they enter market. Even their fellow supporters will not sell at below market price

AND THEIR GOODS ARE ROTTING IN THEIR VARIOUS .WAREHOUSES. DANGOTE IS WARNING US SERIOUSLY THAT THE PROBLEMS ARE JUST BEGINNING.

We are just paying the price for not being a manufacturing exporter since independence.

One thing I keep harping on this site, is that we have never had good leadership in this country, because the model on which they work is that of a resource dependent nation. The problem with that is simple...you are basically hooking your economy to the price of whatever resource you have. Result is boom and bust.

China thought they could live on resources, till their population grew too much for the resources to sustain them. SO, using their brain was the next best thing. Today, they have gone from having a gdp that was behind many African countries in 1973 to being a major exporter, and leading nation in 2023 (They haven't hacked the poverty thing yet, but that's another story).

Nigeria's population has outstripped the abiltyof our resources to sustain it. Since 1960 even that has happened. But we got decieved into thinking that selling the resources and equitably sharing them would solve all our problems. SO long as the need for foreign stuff was confined to the tiny middle class and upper class it was ok. Now, everyone wants foreign stuff. Phones are now within the reach of the poor for the first time since they were invented for example. Computers, which in 1971 existed only in our universites, are now everywhere...and here is the thing we don't make them. A large chunk of our forex is already gone. NO looting, no stealing nothing.

Yes, corruption is a serious problem. What most of us don;t get is why it is a serious problem. The stealing that is happening is happening from a tiny pot. LIke take our education budget. It's about 1.5 trillion naira. That's about a billion dollars. It is enough to pay...for the needs of a single county education needs in the USA. With a populaiton that may not reach 1 million people. And that is before stealing. And MOST OF US PEOPLE Here expect us to use 1 billion dollars to make universites worth 22 billion or more dollars...in value.

It's magical thinking.

If we split this country, the same issues are going to face us, because most NIgerians expect us to somehow use N400 to build something worth 400 billion naira. That is why we drive ourselves into debt, and why we are not serious at all.

We better wake up and take the hard road to industrial development, or forever be IMF slaves. We better remove subsides now, and let the free market do its thing for power and petrol and so forth, or we will never get off the debt trap.

Yeah, and abusing me and calling me names won't change that fact.

They can't compete nor innovate. So they have to die for smarter companies to take over

Signed Zombies

AbuTwins:
When they gained you inform us?

See zombie
So you're not aware quoted companies release their audited financial information every year?

Why don't you stick to terrorism that's your forte

You are ignoratly playing with your future. If these companies leave, you'll know what you've done by supporting govts ineptitude

AbuTwins:
When they gained you inform us?

slaawomirr:
Damnnn niggar

Isoright

slaawomirr help my life, show me life

ijustdey:


https://punchng.com/eight-manufacturers-suffer-n627bn-forex-losses/?amp

This figures you people are calling anyhow as if am not looking for common 2000 naira.

Aarghhh oloumaje oooo

nairalanda1:
We are just paying the price for not being a manufacturing exporter since independence.

One thing I keep harping on this site, is that we have never had good leadership in this country, because the model on which they work is that of a resource dependent nation. The problem with that is simple...you are basically hooking your economy to the price of whatever resource you have. Result is boom and bust.

China thought they could live on resources, till their population grew too much for the resources to sustain them. SO, using their brain was the next best thing. Today, they have gone from having a gdp that was behind many African countries in 1973 to being a major exporter, and leading nation in 2023 (They haven't hacked the poverty thing yet, but that's another story).

Nigeria's population has outstripped the abiltyof our resources to sustain it. Since 1960 even that has happened. But we got decieved into thinking that selling the resources and equitably sharing them would solve all our problems. SO long as the need for foreign stuff was confined to the tiny middle class and upper class it was ok. Now, everyone wants foreign stuff. Phones are now within the reach of the poor for the first time since they were invented for example. Computers, which in 1971 existed only in our universites, are now everywhere...and here is the thing we don't make them. A large chunk of our forex is already gone. NO looting, no stealing nothing.

Yes, corruption is a serious problem. What most of us don;t get is why it is a serious problem. The stealing that is happening is happening from a tiny pot. LIke take our education budget. It's about 1.5 trillion naira. That's about a billion dollars. It is enough to pay...for the needs of a single county education needs in the USA. With a populaiton that may not reach 1 million people. And that is before stealing. And MOST OF US PEOPLE Here expect us to use 1 billion dollars to make universites worth 22 billion or more dollars...in value.

It's magical thinking.

If we split this country, the same issues are going to face us, because most NIgerians expect us to somehow use N400 to build something worth 400 billion naira. That is why we drive ourselves into debt, and why we are not serious at all.

We better wake up and take the hard road to industrial development, or forever be IMF slaves. We better remove subsides now, and let the free market do its thing for power and petrol and so forth, or we will never get off the debt trap.

Yeah, and abusing me and calling me names won't change that fact.

You are mostly on point. My own concern is that after all the suffering, the benefits will still be looted. Looting is the main reason law of economics and economics policies that work in most places are upside down in Nigeria.

Why there follow bacterias who doesn't know anything or own any factories will be supporting him

Reno said we should celebrate because Tinubu has done well.

nairalanda1:
We are just paying the price for not being a manufacturing exporter since independence.

One thing I keep harping on this site, is that we have never had good leadership in this country, because the model on which they work is that of a resource dependent nation. The problem with that is simple...you are basically hooking your economy to the price of whatever resource you have. Result is boom and bust.

China thought they could live on resources, till their population grew too much for the resources to sustain them. SO, using their brain was the next best thing. Today, they have gone from having a gdp that was behind many African countries in 1973 to being a major exporter, and leading nation in 2023 (They haven't hacked the poverty thing yet, but that's another story).

Nigeria's population has outstripped the abiltyof our resources to sustain it. Since 1960 even that has happened. But we got decieved into thinking that selling the resources and equitably sharing them would solve all our problems. SO long as the need for foreign stuff was confined to the tiny middle class and upper class it was ok. Now, everyone wants foreign stuff. Phones are now within the reach of the poor for the first time since they were invented for example. Computers, which in 1971 existed only in our universites, are now everywhere...and here is the thing we don't make them. A large chunk of our forex is already gone. NO looting, no stealing nothing.

Yes, corruption is a serious problem. What most of us don;t get is why it is a serious problem. The stealing that is happening is happening from a tiny pot. LIke take our education budget. It's about 1.5 trillion naira. That's about a billion dollars. It is enough to pay...for the needs of a single county education needs in the USA. With a populaiton that may not reach 1 million people. And that is before stealing. And MOST OF US PEOPLE Here expect us to use 1 billion dollars to make universites worth 22 billion or more dollars...in value.

It's magical thinking.

If we split this country, the same issues are going to face us, because most NIgerians expect us to somehow use N400 to build something worth 400 billion naira. That is why we drive ourselves into debt, and why we are not serious at all.

We better wake up and take the hard road to industrial development, or forever be IMF slaves. We better remove subsides now, and let the free market do its thing for power and petrol and so forth, or we will never get off the debt trap.

Yeah, and abusing me and calling me names won't change that fact.

It's true that in the 1970s, China embarked on significant economic reforms and opened up its economy after decades of isolation. The Chinese government did not simply remove all subsidies and leave companies entirely to free market forces.

While China did ease price controls and restrictions on private businesses, the government maintained a strong role in guiding economic development through:

1. State ownership of key industries and major companies.

2. Provision of cheap loans and subsidies to favored sectors and state-owned enterprises.

3. Currency controls and trade protections to nurture domestic industries.

Massive investment in infrastructure like roads, ports, and power grids.

Even today, while China has further liberalized, the government still heavily subsidizes and provides financial support to industries it deems strategically important, like technology, energy, manufacturing and more.

So China's approach has been more of a gradual, managed transition with the state playing an active role, rather than a sudden removal of all subsidies as you suggest for Nigeria.

Every country's situation is different, but completely removing subsidies without any transition plan or government support could be very disruptive, especially for critical sectors like energy, agriculture etc.

A balanced, phased approach factoring in Nigeria's specific economic conditions is more prudent.

Get your facts right, information is cheap.

This is the handiwork of obidients and crypto P2P bandits not APC.

ositadima1:


It's true that in the 1970s, China embarked on significant economic reforms and opened up its economy after decades of isolation. The Chinese government did not simply remove all subsidies and leave companies entirely to free market forces.

While China did ease price controls and restrictions on private businesses, the government maintained a strong role in guiding economic development through:

1. State ownership of key industries and major companies.

2. Provision of cheap loans and subsidies to favored sectors and state-owned enterprises.

3. Currency controls and trade protections to nurture domestic industries.

Massive investment in infrastructure like roads, ports, and power grids.

Even today, while China has further liberalized, the government still heavily subsidizes and provides financial support to industries it deems strategically important, like technology, energy, manufacturing and more.

So China's approach has been more of a gradual, managed transition with the state playing an active role, rather than a sudden removal of all subsidies as you suggest for Nigeria.

Every country's situation is different, but completely removing subsidies without any transition plan or government support could be very disruptive, especially for critical sectors like energy, agriculture etc.

A balanced, phased approach factoring in Nigeria's specific economic conditions is more prudent.

Spot on

Don't mind the dude

He's just playing

Imagine thinking removal of subsidies will suddenly make Nigeria industrialised.

Is Niger Republic 🇳🇪 not a free economy? Why are they not industrialised?

I believe the guy is just tactically making excuses for govt inefficiency.

There’s something called deductive reasoning and I urge compatriots to apply this in analyzing government data.

Here’s one application…
Last year this report made headlines… 99.4 % of bank accounts contain less than N500,000-NDIC.

As at the time of this report, the value of 500,000 NGN was 1000 USD. In other words the maximum amount that 99.4% of account holders could’ve requested for is 1000 USD each.

Dear FG, if you don’t adequately supply manufacturers and companies forex, who and what is putting pressure on the naira?

The claim that we don’t make enough to meet the needs of our population is a half truth. Our population replication rate has markedly reduced, so has life expectancy. The FG/SG doesn’t cater to the needs of unemployed, retired, incapacitated or veteran personals. So where’s the money? Over 2 trillion USD annually, IGR aside.

Nigerians do not quench your hunger for the truth.
The need for survival and productivity don’t go together. Animals live to feed and when a human has been reduced to such a state his creativity is lost.

“Bill Gates restates investment in human capital as way out of poverty for Nigeria, others”

Bill gates had advised Mr Buhari to invest in human capital but my guess is Ménière’s disease had the better of the president at the time. From Karl Marx’s perspective surplus profit is a product of human capital.

disastrous economy, they have ruined everything yet bragging about it.

Then their quick solution is to tax and more tax.

One of Tinubu achievements.... nawaoooo 🙄

Unrealized losses! The metrics is very important to determined your solvency post debt payment! Dangote is very expose to Nigeria economy wahala!
Dangote is very patriotic!

Kukutente23:

Spot on

Don't mind the dude

He's just playing

Imagine thinking removal of subsidies will suddenly make Nigeria industrialised.

Is Niger Republic 🇳🇪 not a free economy? Why are they not industrialised?

I believe the guy is just tactically making excuses for govt inefficiency.

Making excuses for Tinubu is the main occupation of nairalanda1....he even talks like someone in government, maybe he is actually Dele Alake.....

234GT:


Making excuses for Tinubu is the main occupation of nairalanda1....he even talks like someone in government, maybe he is actually Dele Alake.....

Yes, because i disagree with you , I am making excuses for tinubu

THing is, tinubu is a bad leader. He hasn't removed subsides, he hasn't fixed secuirty, he isn't focusing on railways, he isn't focusing on vocational and technical education, he hasn't fought the corruptuon issue, and there is no plan in place to make more money....other than let's improve petroleum production

SO, yes, he is a bad leader.

We got to do more than remove subsidy, we got to have a plan in place to be an industrial nation.

But no, because I support subsidy removal...because subsidising fuel to N200 would cost N17 trillion this year, which means a large deficit, which means we would have to pay for said deficit with more loans, which means loans could eat over 100% of our revenue , I am a tinubu supporter.


Guys, wake up and smell the coffee..I woke up since 2012.

ALso, the chap you quoted is always abusing me because I disagree with him on subsidy.

You don't need to be as small minded as he is.

ANd FYI, I never have voted for APC or PDP Or even LP.

Good afternoon....and try not to abuse people who you don';t agree with.

Kukutente23:

Spot on

Don't mind the dude

He's just playing

Imagine thinking removal of subsidies will suddenly make Nigeria industrialised.

Is Niger Republic 🇳🇪 not a free economy? Why are they not industrialised?

I believe the guy is just tactically making excuses for govt inefficiency.

Removal of subsides will provide a big part of the enabling environemnt. Much more needs to be done.

Also, oga, it is time to end your war of abuse and insult. Hating me is doing you no good. Just because we disagree on subsidy does not mean you have to abuse, call me names and bully me.

You are not behaving like the christian you claim to be, and honestly I would be turned off if someone said you were a good example of a christian.

You can disagree, but you don't have to make it personal, man. You are making me force you to hate me, and that shows I got power over you. I don't want that.

You can disagree without making it personal. What we say here cannot change nothing.

ositadima1:


It's true that in the 1970s, China embarked on significant economic reforms and opened up its economy after decades of isolation. The Chinese government did not simply remove all subsidies and leave companies entirely to free market forces.

While China did ease price controls and restrictions on private businesses, the government maintained a strong role in guiding economic development through:

1. State ownership of key industries and major companies.

2. Provision of cheap loans and subsidies to favored sectors and state-owned enterprises.

3. Currency controls and trade protections to nurture domestic industries.

Massive investment in infrastructure like roads, ports, and power grids.

Even today, while China has further liberalized, the government still heavily subsidizes and provides financial support to industries it deems strategically important, like technology, energy, manufacturing and more.

So China's approach has been more of a gradual, managed transition with the state playing an active role, rather than a sudden removal of all subsidies as you suggest for Nigeria.

Every country's situation is different, but completely removing subsidies without any transition plan or government support could be very disruptive, especially for critical sectors like energy, agriculture etc.

A balanced, phased approach factoring in Nigeria's specific economic conditions is more prudent.

They actually massively liberalized their makert and allowed free enterprise run through

Meanwhile, we do subsides on petrrol and power, and by extension limit the abilty of the sector to grow and to provide the power and the energy needed to fuel industrial growth and development.

You cannot use subsides to starve sectors of profit, that guarantee energy....and expect growth.

(Note that I haven't mentioned we don't need to fight corruption).

nairalanda1:


Removal of subsides will provide a big part of the enabling environemnt. Much more needs to be done.

Also, oga, it is time to end your war of abuse and insult. Hating me is doing you no good. Just because we disagree on subsidy does not mean you have to abuse, call me names and bully me.

You are not behaving like the christian you claim to be, and honestly I would be turned off if someone said you were a good example of a christian.

You can disagree, but you don't have to make it personal, man. You are making me force you to hate me, and that shows I got power over you. I don't want that.

You can disagree without making it personal. What we say here cannot change nothing.

Kindly point out the abuse or insult in my comment.

You're exhibiting excessive victim mentality

Kukutente23:

Kindly point out the abuse or insult in my comment.

You're exhibiting excessive victim mentality

Oga, you honestly need to grow up

Honestly, in all our interactions, it has been abuse, abuse, putting down, bellitling.

You have allowed hate for me to make you abusive and angry for nothing. It's damaging you more than me. And it is making you look like a unwise person

That's not you, man. It's time to let it go.

Kukutente23:

Kindly point out the abuse or insult in my comment.

You're exhibiting excessive victim mentality

No, you are the one who is gaslighting others man.

You don't have to be rude and hateful. It's not what your religion preaches. And it is not mature

You better grow up. You don't have to let disagreement go to hate

nairalanda1:



They actually massively liberalized their makert and allowed free enterprise run through

Meanwhile, we do subsides on petrrol and power, and by extension limit the abilty of the sector to grow and to provide the power and the energy needed to fuel industrial growth and development.

You cannot use subsides to starve sectors of profit, that guarantee energy....and expect growth.

(Note that I haven't mentioned we don't need to fight corruption).

As I mentioned earlier, a balanced and phased approach will cause less friction. Abruptly removing all subsidies and leaving companies and consumers entirely to free market forces is not a clever approach. Look at what is happening, and it is going to get worse.

You have officially removed subsidies, but you are still paying them behind the scenes because abandoning them altogether will result in total anarchy. Labor is not backing down on their demand for higher wages now, and the savings from the hasty subsidy removal will likely be wiped out.

Nobody is arguing that subsidies are a bad idea in the long term; how a policy is implemented is more important than the policy itself.

nairalanda1:


Oga, you honestly need to grow up

Honestly, in all our interactions, it has been abuse, abuse, putting down, bellitling.

You have allowed hate for me to make you abusive and angry for nothing. It's damaging you more than me. And it is making you look like a unwise person

That's not you, man. It's time to let it go.

🥱🥱
You still can't point out the abuse can you?

nairalanda1:


No, you are the one who is gaslighting others man.

You don't have to be rude and hateful. It's not what your religion preaches. And it is not mature

You better grow up. You don't have to let disagreement go to hate

I'm the one who is gaslighting according to you but it's you who is looking to blackmail me with my religion. Yeah right!!