₦airaland Forum

Wike is not from Ikwerre local government area, Amaechi comes from Ubima in Ikwerre LGA. Wike is from Rumuepirikom in Obio Akpor Local Government Area

warripekin:
Really? Ibori political machine weak? I don't think so. Did they actually loose at the ward congresses? Well for all I know, those that matter in PDP delta state are still ibori boys. From the governor to party leaders who matters. That's where the real politicking is. Tony obu not a dark horse? U will agree with me that until few months ago, tony obu was no where but only came on strong as the primaries draws nearer. Mark my word the preferred candidate remains okowa. As for the gov running for senate and James manager stepping down for him. That is being sorted out. The same senator James manager is still part of ibori team. For the guber election, even some of the top contenders know who the preferred candidate is and gov uduaghan will always tell them, convince me of ur popularity but he has his candidate already.

Please come and thank me. I told you Manager should not be underestimated. Uduaghan has eaten his humble pie.

Obiagelli:
Competition alone didn't kill hitv, high interest rates did. They took a loan to buy Epl rights, dstv did the same but interest rates in South Africa is far lower, about 9%. Tell me how these 2 companies are supposed to compete with the same subscription rate.

Competition killed Hitv. They knew the interest rate before they took, what ever loans. Then add any of this other factors.

Lack of experience
Insufficient capital (money)
Poor inventory management
Over-investment in fixed assets
Poor credit arrangement management
Personal use of business funds
Low Sales

Obiagelli:
This so wrong on many levels. Number 1 business killer in Nigeria is capital, low interest capital. Why do you think Hitv died and dstv is still alive? Interest rate.

How many Nigerian business have access to capital? Competition killed Hitv. 80% of new business started in western economies crash and burn within 18 months. Are they lacking in low interest capital too?

Obiagelli:
How is your first paragraph an advantage? Its rather a big problem. Do you know how many SMEs die yearly?

That was the point I made, the problem for Nigerian business is not interest rates by access to credit. Business failing or dying yearly, is normal. 8 of 10 new business fail, because of

Lack of experience
Insufficient capital (money)
Poor location
Poor inventory management
Over-investment in fixed assets
Poor credit arrangement management
Personal use of business funds
Unexpected growth
Competition
Low Sales

Empiree:


http://naijagists.com/photo-7-pdp-governors-prostrate-to-beg-obasanjo-to-support-jonathan-in-abeokuta-ogun-state/

Please take your picture down. That was someone's wedding picture.

The South African Government may have bartered the bodies of 84 South Africans, who died in a building collapse in Lagos, for arms with Nigeria, a South African newspaper, Mail and Guardian, has reported.

The paper said it saw two letters written by a Minister in the South African Presidency, Jeff Radebe, in which he promised to assist Nigeria ensure that an arms sale worth $9.3m (about R100-million), which had been blocked by South Africa, would proceed.

The Mail & Guardian reported that Radebe wrote to JP “Torie” Pretorius of the Directorate for Priority Crime Investigations (the Hawks), and Dumisani Dladla, the head of the national conventional arms control committee secretariat, seeking to assist the Nigerian government to get the weapons.

Nigeria wanted the arms, including helicopters and ammunition, to fight against the Islamic extremist group Boko Haram.

In October, the Asset Forfeiture Unit seized $5.7m that had been wired to Standard Bank in South Africa. Three weeks before that, $9.3m in cash was confiscated after being brought into the country via Lanseria Airport, north of Johannesburg, in three suitcases, by a delegation said to represent the Nigerian government.

In both instances, the money was apparently confiscated as the transactions it was to be used for were illegal.

In his letters, Radebe, the chairperson of the arms control committee, said it had come to the committee’s attention that the failed attempt on September 5 to pay an arms dealer in South Africa “was, in fact, a legitimate requirement from the government of Nigeria.”

“Although the required administrative processes were not adhered to at the time, the government of South Africa deems it a bona fide error,” Radebe said in his letters to Dladla and Pretorius.

The minister’s key request to Dladla was for him to “liaise” with Pretorius and to “obtain all relevant information in order to assist the parties involved to apply for the necessary authorisations in compliance with the National Conventional Arms Control Amendment Act (no 73 of 2008).

“Upon receipt of the required permit applications, the national conventional arms control committee will favourably consider ex-post facto approval thereof,” Radebe wrote.

The committee is a cabinet body tasked with regulating the sale of arms to legitimate governments and its mandate includes ensuring South Africa does not sell weapons that are used to violate human rights.

The M&G however noted that Radebe found it difficult to sell his plan to other South African authorities as other law enforcement agencies looking into the arms money are pressing on with their investigations, and Radebe’s colleagues in the Cabinet are said to be less than impressed.

The Hawks spokesperson, Captain Paul Ramaloko, said that the investigation was continuing and that his investigators knew nothing about Radebe’s request for charges to be withdrawn.

But Ramaloko admitted that the Hawks were part of the priority crime directorate, whose head, Pretorius, had received the request from Radebe.

Defence Minister Nosiviwe Mapisa-Nqakula, who also serves on the committee, referred the M&G‘s questions to Radebe.

Another Cabinet minister and arms committee member, said Radebe unilaterally wrote the letters to Dladla and Pretorius without consulting fellow committee members and only sought their blessing much later.

A government official said Radebe’s colleagues were accusing him of single-handedly legitimising the Nigerian arms procurement transaction.

But Radebe, through his spokesperson, Vanessa du Toit, said he was surprised by claims that three committee members had distanced themselves from the decision to help Nigeria to legitimise the arms deal because “this matter was discussed and approved at the October 30 2014 NCACC meeting.”

The letters Radebe wrote to Dladla and Pretorius are dated October 6, three weeks before the date the minister said the committee met and gave him the go-ahead.

The South African Government in a swift reaction, described the report as rubbish, stressing that there was no barter with Nigeria on the arms deal.

SA Government spokesperson, Phumla Williams, debunked the story on Friday, in a statement, saying the report held no water.

William said, “Government places it on record that no form of bartering with Nigeria was conducted during the repatriation process.

The Director of Communication Division, Nigerian Foreign Affairs, Ahmedu Ogbole-Ode, could not be reached for comments on Friday as he did not respond to calls to his phone.

Also our correspondents could not get the Director in charge of Press at the Ministry of Defence, Mr. Sheikh Maikai, to comment on the matter as the calls to his mobile telephone line indicated that it was either switched off or in an area outside network coverage.

But a source at an office strategic to the operations of the Federal Government said that the claim that the Federal Government had forfeited the $15m involved in the botched arms deal with South Africa for the corpses of South Africans who died in the Synagogue building collapse was untrue.

The source said that there was no link whatsoever between the synagogue tragedy and the funds involved in the arms deal.


http://www.punchng.com/news/safrica-nigeria-barter-dead-bodies-for-arms-report/

http://www.100resilientcities.org/cities/entry/enugu#

The mild climate and vast opportunities of Enugu, in southeastern Nigeria, have drawn people and investment. Confronted with chronic energy shortages that drive residential and commercial reliance on petroleum-based generators, the city is working to manage population flows and establish cleaner, more reliable energy. Unreliable power has driven manufacturing away from the city, and new building developments have remained energy intensive, putting greater strain on the system and the environment.
Transportation infrastructure has also presented challenges, as Enugu’s insufficient road system struggles to meet the city’s needs, and connect bridges are increasingly exposed to scour and erosion. In the case of many of these bridges, a single loss could significantly hinder the local economy. Officials have also been working to bring together various stakeholders, to address the risk of flooding by responding to drain blockages more effectively and gather effective damage reports, as well as to plan future building developments in more stable areas.

The mild climate and vast opportunities of Enugu, in southeastern Nigeria, have drawn people and investment. Confronted with chronic energy shortages that drive residential and commercial reliance on petroleum-based generators, the city is working to manage population flows and establish cleaner, more reliable energy. Unreliable power has driven manufacturing away from the city, and new building developments have remained energy intensive, putting greater strain on the system and the environment.
Transportation infrastructure has also presented challenges, as Enugu’s insufficient road system struggles to meet the city’s needs, and connect bridges are increasingly exposed to scour and erosion. In the case of many of these bridges, a single loss could significantly hinder the local economy. Officials have also been working to bring together various stakeholders, to address the risk of flooding by responding to drain blockages more effectively and gather effective damage reports, as well as to plan future building developments in more stable areas.

http://www.100resilientcities.org/cities/entry/enugu#

Enugu made history, Wednesday, as the only Nigerian city among 35 cities from across the globe invited to join the 100 Resilient Cities Network (100RC) pioneered by The Rockefeller Foundation, New York.
The announcement was made during The Rockefeller Foundation’s Urban Resilience Summit in Singapore. The other three African cities that made the list alongside the Coal City of Enugu are Kigali (Rwanda), Accra (Ghana) and Arusha (Tanzania).
The choice of Enugu was predicated on the transformation of the road network in the city under Sullivan Chime. This was in addition to numerous national and international recognitions that have been bestowed on Enugu state. The organizers of the network said that Enugu was chosen from nearly 350 applicants on the basis of its ability to “demonstrate a unique vision for resilience, a long-term commitment to cutting across levels of government and sectors of society, a special attention to the needs of the poor and vulnerable.”
The Foundation stressed that Enugu like other Network cities will serve as a model for other global cities that seek to build their own resilience.
This second wave of cities will join 32 cities that won last year’s 100 Resilient Cities Challenge, forming a growing network of urban centers around the world that are ready to respond to the social, economic and physical shocks and stresses that are a growing part of the 21st century.
Other renowned cities of the world invited to join the list in the 2014 edition include Athens, Barcelona, London, Paris, Boston, Chicago, Amman, Sydney and Singapore.
100-Resilient Cites was created by an initial $100 million commitment by the Rockefeller Foundation as part of their Centennial last year, recognizing the trends of urbanization and globalization that characterize this century.

- See more at: http://www.vanguardngr.com/2014/12/enugu-makes-history-joins-worlds-100-resilient-cities/#sthash.pWcPcsjm.dpuf

EasternLeopard:
Gbam

But look at it from this perceptive


Interest rate is reduced and the businesses in these sectors are encouraged to sell at cheaper price.

Because of this, more money remains in peoples pockets making it easier for them to patronize the products offered by SMEs.

This in turn causes effective demand to exist towards the SMEs who now makes more money and used this money to expand their businesses leading to more jobs and money in peoples pockets making it easier for people to pay taxes and liberating Nigeria from the curse of oil.

Sorry, this's like wasting my time. I live in a real world, do real business and not some dreamland . Base your assumptions on realities, the ones you see today in Nigeria. That's how Naria and kobo are made and lost daily.

Thanks I'm done with this thread.

By the way the only reason the interest rate went up was to slow down speculation and create another medium for all the billions speculators were using to pressure the Naira. It seems to have worked, for now. As long as the dollar remains at a 10 year high, against all freely traded currencies in the world today. We might need another hike on the interest rate, to keep out Tbill rates attractive.

Ikengawo:
Deltans has low IQ. All they do is have ethnic fights led by common street thugs. It's only Anioma that brings peace, achievement and sanity. Hence why they have the CAPITAL CITY.

I want to belive you are not stupiddddddd, don't make a generalization comment.

EasternLeopard:
Do you agree with me that interest rate affects cost of production. Yes or No


If we reduce interest rate the cost of production will decline therefore price of finished products will decrease.

When cost of finished products decline, demand will increase and the these 4 sectors will make more money True or False.

If demand increase,

1) production will most likely increase. Meaning more people might be employed to increase production which will put more money into their pockets therefore stimulating the economy which will make it easier to tax people on the long run and take Nigeria out of oil wealth dependence.

2) New businesses will enter into those sectors in order to make money. This will create more jobs and put more money into peoples pockets making it easier to tax people on the long run .


3) We will achieve the Dangote scenario in these key factors. Yes or No

Interest rate effect the cost of production in a credit based economy. SME in Nigeria are not affected by interest rate, because 95% of them don't have bank credit or have access to obtaining said credit.

Nigeria businesses need help with the cost of transportation and the cost of energy. Most people, even in advanced economies don't start businesses with the help of bank loans. Family and savings account for most seed money used in new businesses.

PhockPhockMan:
I'm not saying any picture was photoshoped, the first picture in this thread was the same picture the OP presented as that of the governors that prostrated before Obasanjo. When a fellow Nairalander, brought this link, they removed it and change it with the second picture here. Why must they lie?


http://www.lapesoetan.com/a-yoruba-wedding-the-traditional-wedding/

Watch as they all disappear from this thread.

http://www.lapesoetan.com/a-yoruba-wedding-the-traditional-wedding/

APC, lies will never win you any election in this country.

Eziachi:
I don't know if it's a lie or not but I don't quite get your rebuttal, cos I was hoping that you say that the picture was phoneshoped, that you have the original picture to prove it.
But non of that. So why are they liars?( not saying that they are not) but your post make no sense in support of your claims.

God save your soul. You cannot even see a picture and notice the misrepresentation. What an inanity.

Some of you are just too retarded.

Firefire:
CAPITAL NO!


Selfish elements been rotated in Nigeria.

Uduaghan picked the wrong fight in the state. If this report is true, then, he has done the best thing for himself and delta stste.

This is not confirmed yet, but it was bound to happen, or he will be defeated in a Primary or general election in Delta southern zone.

Hang on to your hats, America.

And throw away that big, fat styrofoam finger while you’re about it.

There’s no easy way to say this, so I’ll just say it: We’re no longer No. 1. Today, we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet.

It just happened — and almost nobody noticed.

The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in “real” terms of goods and services, China will this year produce $17.6 trillion — compared with $17.4 trillion for the U.S.A.

As recently as 2000, we produced nearly three times as much as the Chinese.

To put the numbers slightly differently, China now accounts for 16.5% of the global economy when measured in real purchasing-power terms, compared with 16.3% for the U.S.

This latest economic earthquake follows the development last year when China surpassed the U.S. for the first time in terms of global trade.

I first reported on this looming development over two years ago, but the moment came sooner than I or anyone else had predicted. China’s recent decision to bring gross domestic product calculations in line with international standards has revealed activity that had previously gone uncounted.

These calculations are based on a well-established and widely used economic measure known as purchasing-power parity (or PPP), which measures the actual output as opposed to fluctuations in exchange rates. So a Starbucks venti Frappucino served in Beijing counts the same as a venti Frappucino served in Minneapolis, regardless of what happens to be going on among foreign-exchange traders.

PPP is the real way of comparing economies. It is one reported by the IMF and was, for example, the one used by McKinsey & Co. consultants back in the 1990s when they undertook a study of economic productivity on behalf of the British government.

Yes, when you look at mere international exchange rates, the U.S. economy remains bigger than that of China, allegedly by almost 70%. But such measures, although they are widely followed, are largely meaningless. Does the U.S. economy really shrink if the dollar falls 10% on international currency markets? Does the recent plunge in the yen mean the Japanese economy is vanishing before our eyes?

Back in 2012, when I first reported on these figures, the IMF tried to challenge the importance of PPP. I was not surprised. It is not in anyone’s interest at the IMF that people in the Western world start focusing too much on the sheer extent of China’s power. But the PPP data come from the IMF, not from me. And it is noteworthy that when the IMF’s official World Economic Outlook compares countries by their share of world output, it does so using PPP.

Yes, all statistics are open to various quibbles. It is perfectly possible China’s latest numbers overstate output — or understate them. That may also be true of U.S. GDP figures. But the IMF data are the best we have.

Make no mistake: This is a geopolitical earthquake with a high reading on the Richter scale. Throughout history, political and military power have always depended on economic power. Britain was the workshop of the world before she ruled the waves. And it was Britain’s relative economic decline that preceded the collapse of her power.

And it was a similar story with previous hegemonic powers such as France and Spain.

This will not change anything tomorrow or next week, but it will change almost everything in the longer term. We have lived in a world dominated by the U.S. since at least 1945 and, in many ways, since the late 19th century. And we have lived for 200 years — since the Battle of Waterloo in 1815 — in a world dominated by two reasonably democratic, constitutional countries in Great Britain and the U.S.A. For all their flaws, the two countries have been in the vanguard worldwide in terms of civil liberties, democratic processes and constitutional rights.


http://www.marketwatch.com/story/its-official-america-is-now-no-2-2014-12-04

EasternLeopard:
OK

First answer the rest of the points raised.?

Secondly is dangote running at a loss now that he has reduced the price of his cement .?

The rest of the point is not possible in a market driven environment. Government cannot ask people to crash their prices without destroying supply chains. Cost of production and competition will always determine price. A good example is government price control polices. It has always led to scarcity and higher prices. Triggering more inflation.

Dangote brought the prices of their product down, because production of cement is exploding. They are losing market share, because more supply is entering the market and we still have more plants in the pipeline.

Is Dangote running at loss? probably not, prices will continue to shrink in the cement sub sector as production keeps heading upward.

EasternLeopard:
Is there an economic law that says interest rate must be higher than inflation rate.


What if when the interest rate is reduced for those 4 sectors , the businesses were told to cheapen their products so that inflation falls. Don't you think inflation rate will fall.?

Remember Dangote crashed the price of cement even when nothing was done about inflation rate. And you will agreed with me that if distributors follow suit , inflation rate in the construction sector will fall due to cheaper cement which might help reduce the general inflation rate by some digits.

The reality of business operations demand such a law. Why lend a person N100, @6%. when inflation is 9%. You have lost money right out of the block. You are already at -3% loss.

BlackTechnology:
A good policy but can be made better if the rate is reduced to 6% for the following sectors
1) Agriculture
2) Mining
3) Construction
4) Manufacturing

In order to encourage borrowing for expansion of production and reduction of the price of their finished products.

Increased production might lead to more employment therefore more naira into peoples pockets and reduction in price will reduce the naira leaving peoples pockets.

After this, we can review our tax policies to see how Nigeria can be rescued from the curse of over dependence on oil wealth.


As for traders(importers) the rate should be increased to 20% to discourage importation.



God bless GEJ

God bless the good people of Nigeria.

How do you reduce interest rate to 6%, with inflation almost at 9% and our budget deficit expected to double. The economy is not mechanical or command and control.

Very surprised a GOV from Zamfara will be proposing this. We cannot run away from a solid fiscal policy, the price of crude oil is not a policy.

By Salisu Maradun
Gusau—Governor Abdulaziz Yari of Zamfara State has called for increase in taxes by the three tiers of government as part of measures towards addressing the current financial crisis rocking the country as a result of the fall in global oil price.
Yari spoke in Gusau, the state capital during a day sensitization workshop on taxpayer identification number yesterday.
The governor explained that the current fall in oil prices should compel governments at all levels to think of how to generate revenue for its normal activities.
Represented by the Permanent Secretary and Chairman of the Internal Revenue Board, Alhaji Mustapha Isah, Yari also, noted that the problem underscored the need to diversify the sources of revenue in the country.
On “what do we do now,” he said there was the need for those in government to look inwards by placing more emphasis on taxation.
The governor stated that individuals and organizations should start thinking of paying their taxes as the only way out of the woods.
To this end, he enjoined all tax payers at all the three tiers of government to pay their taxes as and at when due in order to tackle the current financial problem.
Also speaking on the occasion, the Secretary of the Joint Tax Board, JTB, Alhaji Lawal Abibakar, who was represented by a director of the board, Hajiya Zainab Gobir, said that about 30 states in the country had not faired well since the cash crunch occasioned by the fall in oil prices began.
He, however, commended the management of the state Internal Revenue Board for its determination to improve revenue generation in the state

- See more at: http://www.vanguardngr.com/2014/12/gov-yari-advocates-increase-taxes/#sthash.BS5UbyuV.dpuf

siraj1402:
Now tell me Obasanjo is irrelevant.

Was Obj at your wedding

The only people that will threaten destruction of PDP in Rivers are the upper land people. Unfortunately PDP is most strongest in that part of state. If the Waterside people want to see Jonathan lose in rivers, they can come out and vote for Buhari and APC, so we can count their votes. . Just as Fulanis will support Buhari with 90% of their votes in 2015, so will the ijaws from rivers support Goodluck. All this nose will become drums beats of joy for Jonathan in 30 days.

BlackTechnology:
Nigeria government is one of the most expensive government in the world.

I might be wrong but it is rumoured that our senators earn more than US president.


If we cut salaries and eradicate duplication of responsibilities, we might cut our recurrent expenditure from #3.3tr to #2.3tr saving at least #1tr every year for investment into processed agriculture/natural resources and manufacturing businesses to achieve the things I stated in my other post.

The politicians spend about N160B covering their salaries and staff cost. The defense sector about 1 trillion and is only going to get higher. Your petrol subsides about another N800B. Then your thousands of civil services workers, is that where you are going to cut?

We are not serious about development yet, when that time comes, Nigeria and states will do the needful.

http://en.wikipedia.org/wiki/List_of_countries_by_tax_revenue_as_percentage_of_GDP

Inspite of a grading crisis that has dogged the cement industry since February this year, key stakeholders have been pushing out new and better products which are redefining the country’s industrial and construction spaces.

The industry has seen phenomenal growth in recent times, which is expected in a country with a large and growing population, yet challenged by high housing deficit which the United Nations (UN) estimates at 17 million units.

With a population of 170 million people, Nigeria has a little above 10 percent home ownership level and out of the estimated 720,000 housing units needed yearly, to bridge the housing deficit, only 10,000 units are produced by both public and private efforts at housing delivery.

Analysts are of the view that rising demand for both residential and commercial properties arising from the deficit, improved investment interest in various sectors of the economy, all of which require real estate components, are the major drivers of cement industry growth.

This rising demand has led to increased capacity in the industry to about 40 million metric tonnes, up from two million metric tonnes 12 years ago.

Not too long ago, the industry was rocked by controversy over acceptable cement product grades for different levels of construction. It was alleged in some quarters that the 32.5 R/N grade was responsible for building collapses in the country, an allegation that was quashed by some professionals in the sector.

The allegation was subsequently followed by the restriction of 32.5R/N to plastering, and the elevation of the 42.5R/N grade to major construction undertakings by the Standards Organisation of Nigeria (SON). This situation has since been legally challenged by local manufacturers who produce the restricted grade in large quantity.

However, in spite of the crisis situation, Dangote Cement, the largest in the industry in terms of output, has remained upbeat and has introduced different product ranges since then.

The cement maker has since launched the 52.5 grade, as well as the 42.5 grade 3X cement. DangCem has also launched the 32.5 grade of cement, in order to play at all levels and segments of the market.

Its capacity has been ramped up to 29 million metric tonnes, while the company plans to expand further and unveil other solutions, according to findings.

Apart from Classic, Supaset, Powermax, Readymix , aggregates and concretes products, Lafarge Africa has innovated RoadCem cement, which is a specialised cementitious binder, designed to meet the needs of a wide range of road applications.

Lafarge has also unveiled the OneCem low density cement product for the oil and gas sector. The product is expected to be in use by major oil firms in the country by mid 2015.

It is a product that tailors performance needs as a system platform, while having the capacity to integrate into conventional blending and pumping equipment.

“We also have what is called Sulfur Resistant Cement, which is particularly suitable for bridges, construction where there is sea water or that is subject to alkaline erosion,” said Guillaume Roux, group managing director and chief executive officer of Lafarge Africa Plc, in an interview with BusinessDay in Lagos.

“And this is just cement. We have ready mix business and it is growing fast. We have ready mix for foundations; we have it for columns, for beams and this is gaining a lot of traction, and it is again new innovations,” he added.

Nigeria’s cement industry’s capacity has outstripped South Africa’s 18 million metric tons and has become the largest in sub-Saharan Africa. Its capacity has moved beyond 40 million tons, while players are expanding capacity.

The United Cement Company of Nigeria (UniCem) is investing N84 billion in an additional 2.5 million tons cement line project, to double its 2.5 million tons existing capacity to five million tons per annum, by 2016, and consolidate its position as Nigeria’s third largest manufacturer.

Also, Ashaka Cement is investing N100 billion to increase capacity to four million tons per annum, from the current one million.

Huge infrastructural needs and urbanisation have largely boosted the fortunes of cement makers, as they increase product demand.

“The industry outlook is good. In future too, we are planning to launch cement plants. That shows the confidence in the long-term,” said Edwin Devakumar, group managing director, Dangote Cement, in an earlier interview with BusinessDay.

CHUKA UROKO & ODINAKA ANUDU

http://businessdayonline.com/2014/12/cement-makers-defy-policy-crisis-to-innovate-bigger-solutions

BlackTechnology:
OK

But my view is boom the economy first before taxing the economy.

Nigeria is full of poor people and struggling businesses.


High taxation was a major reason behind the fall of Roman Russia etc empires.



Even pazienza view of cutting down cost of government is more better than taxation.

Cutting down the cost of government from what to what? The fed recurrent budget is about N3.3T, less than $20B. How much are you going to save from that. Talk is cheap, people need to put numbers on the table. The politicians we hate so much in Abuja spend about N160B on themselves and their almost 6,000 staff members. Is that where we see all this savings?

Waiting for what you call an economy boom is going to be, an endless wait, because its never going to come. You cannot get something from nothing.

Nigeria has no fiscal policy, because we don't have a tax base, we operate a policy based on how much oil sells for at that moment. Yet we have $520B GDP with a per capital income of $3000. What and who, are we expecting to provide the average of $30B, we need yearly, just to catch up, with our infrastructural demands Maybe we need a boom before we can fund this kinds of project.

BlackTechnology:
Budget is a blueprint of what you plan to spend money on.

Now we can remove some items on our budget in order to divert some oil money into establishment of processed agriculture/natural resources and manufacturing businesses in order to achieve the things I stated in my last post

We are going in circles here.

BlackTechnology:
Nobody is against taxes but I believe we should boom the economy first before taxing the economy.


By investing a very good portion of our wealth into processed agriculture/natural resources and manufacturing businesses and privatize these businesses after 10yrs,
1) We will supply our market with cheap raw materials which will help crash price of finished products helping every one to save some money of which people will be able to part ways with some in the name of tax without complaining.

2) These businesses will create more direct or indirect jobs thereby putting more money into peoples pockets and enabling them to be able to pay taxes without feeling the pressure.


Also note

As old businesses makes more profits and new businesses spring up, the taxes entering government purse will escalate.

You don't have any wealth to invest, why is this fact lost to you. Our 2014 budget is already 30% in the red, based on current oil prices. How are you going to make up for that shortfall, before you invest in all your dream projects.