₦airaland Forum

Agbegbaorogboye:
Ok. Let's interrogate this Mr Economist. You want to remove all forms of subsidy.
How do you remove subsidy in education when Nigeria has over 9million children out of school
How do you remove subsidy in health when malaria still kills million of Nigeria yearly
How do you remove subsidy from agriculture when Nigeria is obviously not self-sufficient
For the petroleum, and as a corollary to protectionism, Imagine a Nigerian who starts a business at a barbershop, the first challenge he has is not procuring an electric clipper, it's being able to power the clipper. He does that by buying a tiger generator which runs on fuel. If govt removes subsidy from fuel, how has that barber been protected. Same holds for agriculture especially Fadama. So how can you be for protectionism and be against subsidy?
Can you also explain how exactly you want Buhari to unify the exchange rate and still execute protectionism in this Nigerian environment?
Lastly, what exactly are your plans to break up Dangote's oligopoly as you call it noting that Dangote is a product of protectionism.
I'm waiting

1. I don't believe education or healthcare should be subsidized, it should be free in any country that is serious about development. To be clear, this subsidy discussion is about sectors where we want the private sector to drive growth -- so petroleum refining, electricity generation, etc.

2. Very strong point. But electricity generation shouldn't depend on petroleum. Instead of subsidizing petroleum for generators, Nigeria should fix its electricity grid.

3. Removing the exchange rate will cause the naira to fall, making imports more expensive and domestic production cheaper. It will also remove the corruption and arbitrage that exists under the current system.

4. Dangote has illegally seized limestone rights all over the country, preventing competitors from entering the market. This should be reversed. Some of his mergers should also be spun off into independent companies.

Agbegbaorogboye:
There we go. But they are now very strong in services and never entered the manufacturing phase true or false?

The problem with you armchair intellectuals is your attempt at one size fits all. When the weaknesses are exposed, you start looking for peculiarities you never considered when propagating your theories. No wonder you're friends with that other guy.

What exactly does their oil output and population have to do with moving from manufacturing to services according to you?

I'm trying not to insult you, but you are making this difficult. Are you trying to have an honest discussion about economics or just play games? If I say dogs bark or snakes bite, you can always find a dog that doesn't bark or a snake that doesn't bite, but that doesn't disprove the rule.

Why are you comparing a country with 10 million people to a country of 200 million expected to reach 400 million by 2050? It's an apple to oranges comparison. If you are so married to your braindead theory that manufacturing isn't necessary, why don't you find a large country and make the comparison? Oh wait... it doesn't exist.

Agbegbaorogboye:
What about the UAE? When did they pass the manufacturing phase?

Don't forget I never said Nigeria should not be industrialized. It's an assumption of yours

Let this be the last time you quote me with insults if you don't want me to remind you how you were born

U.A.E is like if you put 2.5 times Nigeria's total oil production into a population half the size of Lagos and then hired foreigners to do 85 percent of the skilled labor.

Nigerian protectionsim is failing because people like Dangote are exploiting it to kill local competition and hold the people hostage with outrageously high prices.

Agbegbaorogboye:
Well... Mr trained economist, Buhari is a protectionist by his policies. Would you say you agree with his policies?

I agree with protectionism, but the execution is terrible. They are restricting imports without creating a business environment favorable to local production. This is leading to massive inflation.

Nigeria needs to remove all forms of subsidy, unify the exchange rate, and break up Dangote Cement's oligopoly before even talking about protectionsim.

Agbegbaorogboye:
The industrial sector, which was dominated by steel until the 1960s, has since diversified to include chemicals, rubber, and other products. During the past decades, growth in the financial sector has more than compensated for the decline in steel production. Services, especially banking and finance, account for the majority of the economic output. Luxembourg is the world's second largest investment fund centre (after the United States), the most important private banking centre in the Eurozone and Europe's leading centre for reinsurance companies. Moreover, the Luxembourg government has aimed to attract Internet start-ups, with Skype and Amazon being two of the many Internet companies that have shifted their regional headquarters to Luxembourg. Other high-tech companies have established themselves in Luxembourg, including 3D scanner developer/manufacturer Artec 3D.[citation needed]



https://en.wikipedia.org/wiki/Luxembourg#Economy

When a country becomes developed enough, services become a larger portion of their economy because wages are too high for competitive manufacturing. This is called a "post industrial economy".

Development happens in thee stages. First you are agriculture based, then you become manufacturing based, then you become services based. Africans are trying to skip the manufacturing part, which is why we have persistent poverty and unemployment.

Right now in china, they can turn $1 worth of sand (silicon) into a $5,000 computer chip. If you think you can compete with that by exporting natural resources, you are a fool.

Agbegbaorogboye:
What does Switzerland export? Can you show me the export profile of Switzerland. You lie too much brother. Switzerland and Luxembourg are actually in the same boat. They are financial services hubs as well as international relations. So quit with the lies.
Norway exports same thing Nigeria does, oil. So you can see how it looks now. Same with Qatar.
The bottom line is management of resources and proper exploitation of the economy is what leads to riches. If we become a multi-product exporting nation as we once were and we still have bad leaders who think only of their pockets as opposed to that of the commonwealth, we will still arrive were we are.
What drives a nation forward is responsible leadership. In fact, that's what leads to the so-called export. It's not the other way round

If this is the level of reasoning produced by Nigerian universities, the country is doomed. Seemingly educated people reasoning like apes in the jungle. Switzerland's high labor costs have pushed them out of low value manufacturing, but that doesn't mean they arent Industrialized. they simply focus on ultra high value-added manufacturing. Their top exports are pharmaceutical products worth $88 billion, organic chemicals, precision machinery, and watches worth $18 billion.

Subsidybad21:
Swiss and Norway have high industrial export rates.Norway in particular produces and exports componets for oil exploration

Qatar is an oil dependent economy. They get away with it because they have less than 2 million people and produce more than half of what oil we produce

Luxembourg is where the rich dunp their money's.

Even luxembourg is industrialized. Electrical machinery and advanced surgical equipment are among thier top exports. What is wrong with Nigerians? How can someone in 2021 say that you don't need industrialization to become wealthy? That is an almost subhuman level of stupidity and ignorance.

Agbegbaorogboye:
You just keep exposing your ignorance.

Do me a favour. Google richest nation in the world and tell me the "industrial goods" they export.

You need to get your theories in the proper perspective really.

I'm a trained economist. He is right, and you are a complete idiot. Stop embarasing yourself here.

Agbegbaorogboye:
You just don't get it. You're holed up in your cocoon.
Dangote and others are building refineries. Two have been commissioned last year. All these in the midst of a subsidy regime. THIS PUTS PAY TO YOUR LIE THAT SUBSIDY IS THE REASON WHY REFINERIES ARE NOT BEING BUILT.
And again, dangote bought Kaduna refinery in 2007 when subsidy was still there.
Get your facts right!!

in most countries, oil majors like Shell, Eni, etc, build refineries in their host countries. This has not happened in Nigeria because of the subsidy.

If you monkeys don't start burning Dangote trucks, you deserve this slavery. No intelligent group of people would be held captive like this.

Cynocefaal:
Very powerful question right there: how much money do Nigeria's thieving elite really need?

Enough to buy two private jets? A private island? Enough to pay for fairytale weddings that have the white man gaping with envy at black 'affluence'?

Or just enough for Dangote to be able to play billionaire black man and hobnob with Bill Gates (while his business practices hold more than a hundred million Nigerians in subhuman poverty?

The mind of a black man doesn't function like other men. A normal man would be embarrassed to be a billionaire in a country where the average person earns 34 per month, selling cement for the profit margin of an iphone. Dangote is an ape.

Skyline of Nairobi, Kenya -- a country with a GDP of just $90 billion compared to $400 billion in Nigeria.

Skyline of Abuja

nsiba:
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You are nothing but the most stupid piece of shit on earth! Nobody needs your gutter insight, definitely not one who is dumber than a grain of rice......spits

Anyone who is proud of this hell of a country deserves to be burned.

Meanwhile, Lagos Nigeria.

If this is not monkey, what is monkey?

nsiba:
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And a Lebanese dog like you don't when to describe the leadership of the country and the everyday citizens of the country.
When educated fools like you come online and generalized the situations on ground why down here we know that this country is surviving not because of the leaders but the everyday ordinary who provides himself with light, water and security
But pri-cks like you who know absolute nothing but only to please your masters for crumbs will come out you and be attacking and addressing issue in ways as if it is the self providing citizens are the cause
Why not go and live in North Korea if you will survive or even have the pleasure of watching TV

So television is development now? You are bragging about imported electronics that you can't even produce. Meanwhile North Koreans enjoy security, subsidized rail service, wide beautiful streets, security and cleanliness. Their businesses are owned and run by locals not infested with foreigners from Lebanon and India. But their GDP is only $28 billion compared to $400 billion in Nigeria.

Are you not tired of losing? Only a monkey can look at the situation in Nigeria and not be outraged.

LOOK AT NORTH KOREA

nsiba:
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"Take it from someone who has traveled the world"..
Nothing irritates me more than this, travelling doing what?
I bet carrying the bags of your refugees masters and cleaning theirs asses with tissues papers
You are a fool beyond redemption, people are silently building schools, hospitals computer centery, roads for their communities providing solar light you a well travelled Buffon is to come online and announce as a slave that you are to some useless PRICks how well travelled you are

I can see that and honestly it makes you more useless as a being, your exposure made you more of a gutter rat than anything

I'm an economic analyst in the United States. I can make more in a single day than the typical Nigerian makes in a full year of work. You are lucky that I'm even sharing my insights with you because most people in my position (and I know several) just wash their hands of Nigeria.

nsiba:
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Because Landless and bunch of Lebanese refugees living of their Nigerians benefactors built and are living in Towers, Nigerians should copy and follow suit?

Where did this animal crawled out from? Your level of inferiority complex is outta this world, what a useless Lebanese slave....spits

Why are Africans willing to copy useless things from the west? drug use, fornication, creating bastard children everywhere. But when it comes to copying the good things from the outside world -- like skyscrapers, industry, cleanliness, etc. -- suddenly you are too proud to learn from superior cultures?

Nigeria is at a subhuman level of development. Take it from someone who has traveled the world. You are living like beasts.

nsiba:
.

Because Landless and bunch of Lebanese refugees living of their Nigerians benefactors built and are living in Towers, Nigerians should copy and follow suit?

Where did this animal crawled out from? Your level of inferiority complex is outta this world, what a useless Lebanese slave....spits

The rest of the world is leaving Nigeria behind. Drop your backwards mentality and over-inflated ego and wake up.

This is NORTH KOREA a country will no oil, a declining population, sanctioned by the whole world yet even they are towering over Nigeria. Stop wailing and making excuses.

Look at how they even use traditional decorations on the bridge. The north is in a different league in terms of culture compared to the south. Had this been the south the whole thing would be defaced with black and white stripes.