There was discussions along this line (bolden) around 2015/16, it looks like it is not an easy thing to achieve.
I suspect any attempt to do this will be a direct affront on US, there will be consequences.

Olaide1295:

China's economy is doing just great. The SoEs are well managed and they are lifting hundreds of millions out of poverty.
Go to Bejieng and you'll see wonderful infrastructure. US infrastructure is nowhere near.
They are also now a superpower. Infact, if i was Meffy, i'll hold about 15 - 25% of Nigeria's reserves in Chinese Remnibi since thats where most of our imports come from.

Olaide1295:
https://nairametrics.com/2020/09/02/breaking-nigerias-foreign-trade-drops-to-n6-24-trillion-trade-balance-hits-n1-8-trillion-deficit/

With continuing trade deficits, how long can CBN go?

is not the cbn is Nigerians how long can Nigerians go from importing basic items like toothpicks , tissue paper and exporting jobs and complaining at the same time of no jobs .....it we ....we are a replica of our Nation....

All we as Nigerians not SMART enough to be an export country?
Many countries of the world do not even know the name of their CBN governor but Nigeria know their CBN governor as if he was a state governor because those guys have to manage the econony made up of people whose only interest is in importing.

Olaide1295:
https://nairametrics.com/2020/09/02/breaking-nigerias-foreign-trade-drops-to-n6-24-trillion-trade-balance-hits-n1-8-trillion-deficit/

With continuing trade deficits, how long can CBN go?

Oga, you have started copying my mind. I could sue you for trespass of mind reading. WE practically wrote the same thing at 9:51am

ahiboilandgas:
is not the cbn is Nigerians how long can Nigerians go from importing basic items like toothpicks , tissue paper and exporting jobs and complaining at the same time of no jobs .....it we ....we are a replica of our Nation....

Olaide1295:

China's economy is doing just great. The SoEs are well managed and they are lifting hundreds of millions out of poverty.
Go to Bejieng and you'll see wonderful infrastructure. US infrastructure is nowhere near.
They are also now a superpower. Infact, if i was Meffy, i'll hold about 15 - 25% of Nigeria's reserves in Chinese Remnibi since thats where most of our imports come from.

Abeg o.
Do not suggest anything to these our unlettered leaders, make them no get this kind thoughts into their heads.
The Americans will happily and quickly sever our thin oil lifeline without wasting time.

ojesymsym:
Oga, you have started copying my mind. I could sue you for trespass of mind reading. WE practically wrote the same thing at 9:51am

sorry ooh the thing they pain me .....i practically look at my house this morning i dont have any made in Nigeria item only yams and some other food stuffs but everthing is foreign and job exports


....

That country is too powerful, I used to think we could call their bluff, o boy I realize it is not just bluff, they only need someone like Trump and nothing anyone else can do.
The one that frighten me the most was the Huawei matter. Initially, UK said they will continue to do business with Huawei no matter what US thinks but just recently, after America squeeze their brocus, they have now turned back to say all Huawei products should be out of the UK by 202x not sure of the exact year. If UK can succumb, who is Nigeria to force a direct affront on the US? We are a nation of respectful people abeg.

Cyberknight:


Abeg o.
Do not suggest anything to these our unlettered leaders, make them no get this kind thoughts into their heads.
The Americans will happily and quickly sever our thin oil lifeline without wasting time.

ahiboilandgas:
is not the cbn is Nigerians how long can Nigerians go from importing basic items like toothpicks , tissue paper and exporting jobs and complaining at the same time of no jobs .....it we ....we are a replica of our Nation....

Nigerians will continue to import toothpick as long as there is cheap forex.

Make we kuku stop our Engineering department for our universities then.
My own na Rice, Yam and beans. My furniture na carpenter at least the wood go be from Naija

ahiboilandgas:
sorry ooh the thing they pain me .....i practically look at my house this morning i dont have any made in Nigeria item only yams and some other food stuffs but everthing is foreign and job exports


....

Is 400 cheap? Bros, na lack of creativity abeg nothing to do with cheap. Cheap is just an excuse

Olaide1295:


Nigerians will continue to import toothpick as long as there is cheap forex.

Olaide1295:

China's economy is doing just great. The SoEs are well managed and they are lifting hundreds of millions out of poverty.
Go to Bejieng and you'll see wonderful infrastructure. US infrastructure is nowhere near.
They are also now a superpower. Infact, if i was Meffy, i'll hold about 15 - 25% of Nigeria's reserves in Chinese Remnibi since thats where most of our imports come from.

You will what?

Hold 15% of your reserves in RMB?

That's not wise
Sorry

ojesymsym:
That country is too powerful, I used to think we could call their bluff, o boy I realize it is not just bluff, they only need someone like Trump and nothing anyone else can do.
The one that frighten me the most was the Huawei matter. Initially, UK said they will continue to do business with Huawei no matter what US thinks but just recently, after America squeeze their brocus, they have now turned back to say all Huawei products should be out of the UK by 202x not sure of the exact year. If UK can succumb, who is Nigeria to force a direct affront on the US? We are a nation of respectful people abeg.

Precisely.
Nigeria no follow for the countries that can stand up to the US.
It will just take 5 minutes to kill our economy beyond repair.

What of if there is a policy that anyone that wants USD should look for something that will provide an equivalent of what he needs and export that product to earn the USD he desires, is that not feasible?

ahiboilandgas:
is not the cbn is Nigerians how long can Nigerians go from importing basic items like toothpicks , tissue paper and exporting jobs and complaining at the same time of no jobs .....it we ....we are a replica of our Nation....

I can argue that no country can. The closest is Russia. What every other country does is to use side attacks or better still just avoid having issues with them.
See the Iranian deal that US (Trump) single handedly scuttled.
Anyway, lets try and focus on the forex matter.

Cyberknight:


Precisely.
Nigeria no follow for the countries that can stand up to the US.
It will just take 5 minutes to kill our economy beyond repair.

ahiboilandgas:
A fake economy that the west is so scared of ?or a new ideology to develop faster than the western propagated ideals ..........the greatest uplifting of 500 m people out of poverty cannot be fake ....

You all may not understand where I am coming from (as usual)

You all are looking at the results
But I am looking at the process that led to the results



It's not sustainable

Even the Chinese government have promised to work on those structural deficiencies

But are they sincere?


Okay let's cast our minds back to 1970s Nigeria

Things seemed to be better because of some "enjoyment" here and there


BUT
The process that produced that...
Was not self sustaining
. Here we are today


The patermalist hold of the CCP on the Chinese economy IS NOT SUSTAINABLE and it's all a ruse


A country that does not allow for transparency cannot stand the test of time


There were record bankruptcies in the Chinese economy with respect to some of the SoEs

What the CCP did was to take over their books
And then pump them afloat


And they do not even allow for independent audits
Who are they deceiving?


I know as Nigerians
We are carried away by the optics

But let's look at the structure
The German/Japanese model is the best

Nigeria will be unrecognisable in 20 years if we adopt it

ojesymsym:
Is 400 cheap? Bros, na lack of creativity abeg nothing to do with cheap. Cheap is just an excuse

400 is truly not cheap.

I am a believer that Nigerians do not deserve products if they cannot produce it. If Nigeria cannot manufacture a car, then Nigerians don't deserve it.
The cost of such product should be prohibitively high that people are forced to manufacture locally. This will also spur FDI.

Right now, we think we deserve cars and fancy imports but it's the Niger-delta oil that is subsidizing the entire economy.

Small shake body
And China is in trouble


Let's see how the next 20 years go
And whether those structural reforms promised will tale root

Olaide1295:


Nigerians will continue to import toothpick as long as there is cheap forex.

how come it hasn't stoped naira moving from 120 to 475 ? What guarantees it will stop at 800 naira ? Or is based on what the world bank have been telling us since 1987 ...how many firm have spring up due to devaluation and costly dollars ...

Olaide1295:

400 is truly not cheap.

I am a believer that Nigerians do not deserve products if they cannot produce it. If Nigeria cannot manufacture a car, then Nigerians don't deserve it.
The cost of such product should be prohibitively high that people are forced to manufacture locally. This will also spur FDI.

Right now, we think we deserve cars and fancy imports but it's the Niger-delta oil that is subsidizing the entire economy.

I agree wholeheartedly
Like I always say
We are living a lifestyle we do not merit, deserve or afford

Look at the number of private jets, and luxury products in the country
Compare that with the level of productivity and value creation/addition in the country....

Dont you see there is a mismatch?

DexterousOne:



You all may not understand where I am coming from (as usual)

You all are looking at the results
But I am looking at the process that led to the results



It's not sustainable

Even the Chinese government have promised to work on those structural deficiencies

But are they sincere?


Okay let's cast our minds back to 1970s Nigeria

Things seemed to be better because of some "enjoyment" here and there


BUT
The process that produced that...
Was not self sustaining
. Here we are today


The patermalist hold of the CCP on the Chinese economy IS NOT SUSTAINABLE and it's all a ruse


A country that does not allow for transparency cannot stand the test of time


There were record bankruptcies in the Chinese economy with respect to some of the SoEs

What the CCP did was to take over their books
And then pump them afloat


And they do not even allow for independent audits
Who are they deceiving?


I know as Nigerians
We are carried away by the optics

But let's look at the structure
The German/Japanese model is the best

Nigeria will be unrecognisable in 20 years if we adopt it

u are making assertion without any emprical data or research findings ....u cannot predict 20 years of china on the thing air ....this is not religious exercise but a data one...it only prophets and religion that work on predictions,dreams and vision .....economy /investment are based on well research datas to reach prediction....

DexterousOne:



You all may not understand where I am coming from (as usual)

You all are looking at the results
But I am looking at the process that led to the results



It's not sustainable

Even the Chinese government have promised to work on those structural deficiencies

But are they sincere?


Okay let's cast our minds back to 1970s Nigeria

Things seemed to be better because of some "enjoyment" here and there


BUT
The process that produced that...
Was not self sustaining
. Here we are today


The patermalist hold of the CCP on the Chinese economy IS NOT SUSTAINABLE and it's all a ruse


A country that does not allow for transparency cannot stand the test of time


There were record bankruptcies in the Chinese economy with respect to some of the SoEs

What the CCP did was to take over their books
And then pump them afloat


And they do not even allow for independent audits
Who are they deceiving?


I know as Nigerians
We are carried away by the optics

But let's look at the structure
The German/Japanese model is the best

Nigeria will be unrecognisable in 20 years if we adopt it

The paternalistic Chinese model might not be sustainable.
But its a start.
It's better than nothing.
Nigeria can never, repeat NEVER be like Japan or Germany.
We are a) uneducated; and b) disunited.

The Germans and the Japanese focused single-mindedly on rebuilding their economies after World War 2.

Nigeria is focusing on buying 2020 Toyota Camry cars. Like all children, Nigerians love toys.

So the only hope for us is some form of top-down regulation of our economy.
Without that we are doomed.

The Chinese model, however flawed, is the only thing that can work here. The government (and by government I mean a serious-minded and altruistic construct, not the exploitative entities we have always had) has to direct most aspects of any progress we want to make.

For four year Trump has been shaking China, do they look like a country in trouble.
See Corona virus that started from there, they handled it in 3 months while the rest of the world is still grumpling. I guess a lot of people just hate them.

DexterousOne:
Small shake body
And China is in trouble


Let's see how the next 20 years go
And whether those structural reforms promised will tale root

ahiboilandgas:
u are making assertion without any emprical data or research findings ....u cannot predict 20 years of china on the thing air ....this is not religious exercise but a data one...it only prophets and religion that work on predictions,dreams and vision .....economy /investment are based on well research datas to reach prediction....

And what makes you think I am just talking just for talking sakes?

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Cyberknight:


The paternalistic Chinese model might not be sustainable.
But its a start.
It's better than nothing.
Nigeria can never, repeat NEVER be like Japan or Germany.
We are a) uneducated; and b) disunited.

The Germans and the Japanese focused single-mindedly on rebuilding their economies after World War 2.

Nigeria is focusing on buying 2020 Toyota Camry cars. Like all children, Nigerians love toys.

So the only hope for us is some form of top-down regulation of our economy.
Without that we are doomed.

The Chinese model, however flawed, is the only thing that can work here. The government (and by government I mean a serious-minded and altruistic construct, not the exploitative entities we have always had) has to direct most aspects of any progress we want to make.

You get my point
I'm happy you do...


It might be good for a start for Nigeria
But it can only take you to a level...

To really be a developed country (which china is not)
You need self sustaining institutions
And a well structured and transparent economy

But if we have a CCP equivalent in Nigeria
Will they want to give way when their usefulness has expired?

ahiboilandgas:
how come it hasn't stoped naira moving from 120 to 475 ? What guarantees it will stop at 800 naira ? Or is based on what the world bank have been telling us since 1987 ...how many firm have spring up due to devaluation and costly dollars ...

Who told you it hasn't been reducing?
What was the GDP of Nigeria as at when dollar was 120?
What's the GDP now?
Hasn't it increased upon the fact that naira weakened?
This should tell you productivity increased and more of these imported items were starting to get produced here.
Now imagine what will happen if naira is devalued to 400 range and the confidence it will give investors.
Go out and do real work and stop reading online journals,I've told you this many times.
Its for your own good bros.

ojesymsym:
For four year Trump has been shaking China, do they look like a country in trouble.
See Corona virus that started from there, they handled it in 3 months while the rest of the world is still grumpling. I guess a lot of people just hate them.

Na them bring am in the first place.
In any case, the methods they used (total lockdowns, extremely tight restrictions and all that) are only possible in a totalitarian society and not in freer ones, whether that is a good or a bad thing.

But I agree with you than China is a solid economy, the Americans can only cause them trouble here and there; overall they are standing firm.

DexterousOne:


And what makes you think I am just talking just for talking sakes?

making assertions come with evidence ....so how did u arrive at those assertions?...in research i have to quote u as my source of assertions after knowing how u arrived at those weighty assertions....if america say Nigeria will break in 2015 this might due intelligence work by the c.i.a ...it didnt break but 27 lga in northeast turned to iswap for 4 years ...

DexterousOne:



You get my point
I'm happy you do...


It might be good for a start for Nigeria
But it can only take you to a level...

To really be a developed country (which china is not)
You need self sustaining institutions
And a well structured and transparent economy

But if we have a CCP equivalent in Nigeria
Will they want to give way when their usefulness has expired?

Of course they won't.
But you see the CCP as a disadvantage to China.
I don't think it is.
So-called democracy is not necessarily better than the Chinese system from the standpoint of economic achievement.
Anyway, the CCP is now "communist" in name only - it's economic theory and actions are all socialistic.

Cyberknight:


Of course they won't.
But you see the CCP as a disadvantage to China.
I don't think it is.
So-called democracy is not necessarily better than the Chinese system from the standpoint of economic achievement.

if the Nigeria communit party can achieve 1/4 of ccp we will be very happy ...good road ,steady electricity ,Good hospitals, enough jobs ...

ahiboilandgas:
if the Nigeria communit party can achieve 1/4 of ccp we will be very happy ...good road ,steady electricity ,Good hospitals, enough jobs ...

1/4 too much.

1/50th even - we'll be jumping for joy.

Cyberknight:


1/4 too much.

1/50th even - we'll be jumping for joy.

chai chai ...true..