₦airaland Forum

old age can make a man talk like a baby.


If Obj had diversified our economy instead of looting it, Nigeria would have being heading towards standing shoulder to shoulder with China.

2cato:
But a lot of the industries in china were own by the americans brithons germans japan and south koreans due to cheap labour and cheap infrastructures. Assuming these country decide to move away from china where do you think china will be.
Eg the android software been own and controled by google of america

If its you, will you move your business away.

starlingbawa:
Good point no doubt and I have to agree with you, but I think that situation is still a long shot away bearing in mind the prevailing situation we now find ourselves in.

Good morning mate!

A step with great determination can help a man cover a long journey at greater speed and shorter time.

Eg Pakistan built her atom bomb few years after India due to great determination

And we overtook them in having the highest number of poor people.


Nigeria no dey carry last.

starlingbawa:
Irrespective of whatever international politics that is being played out, it is pertinent to say that the Nigerian Army is the 'BIGGEST ' loser at the end of the day in all of this.

You are wrong


This will gradually free the military of Western influence aimed at making our military second to them.


If GEJ can instruct the military to work with our higher institutions in weapons development, in years to come, Nigeria will become Africa's China.

Napoleon called China the sleeping giant.


Could it be the reason why US is beefing Nigeria.

Na wa for US

So they expect Nigeria to withdraw heavy weapons used in fighting BH for training.

What do they expect Nigeria to fight BH with.?




Fellow Nigerians


Are we sure US is not the main sponsor of BH

Are we sure US is not viewing Nigeria as a sleeping giant that must be destroyed now in order to eliminate a future rival like China India.


Am not against breakup but killing innocent Northern Christians and taking over their ancestral land without their support is evil.


Biafrans I hope we are watching and learning.


Biafrans we must develop our indigenous military technology by encouraging our higher institutions to develop indigenous military technology to counter threats like this.

DaBullIT:
I'm always sincere , being in charge of finance , I doubt that anything goes by without her approval , or consent

Were you in space when she insisted on the benchmark being $75 but Tambuwal and Osun governor etc said the benchmark should be increased to make more money available for states

campusflavour:
guess u didnt know they attacked ekiti prison and free their members

Rumour monger spreading lies.

DaBullIT:
Let's see what Okonjo Iweala has to say

Is it her fault or the governors and assembly members who kicked against her clamour for a lower bench mark in order to build up our foreign reserve with the extra dollars.


Be sincere for once

donnypool:
but we know i can go on wiki and edit that page. the fact is that the US tries to act as the world savior, but the simply are not.

and you can agree with me the US economy boom during war times. you know why? because its time to sell more weapons and steal natural resources.

Perfect.


A friend in need is a friend in deed.


US has abandoned us now in our time of distress.

atlwireles:
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.

Thanks for bringing up these facts

What can we do

1) Cut down size of government which will lead to a nose dive from #160b to less.

2) Support indigenous military technology which will cut down defense from #1tr to less.

3) Remove subsidy completely which will free up #800 b


Add #800b to whatever we can save from political expenses and defence, the money we will get is enough to boom the economy before taxing the economy if we invest basically into processed agriculture/natural resources and manufacturing businesses to achieve the things I stated in my other post.

atlwireles:
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.

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.


Solutions are

1) Reinvest some of our oil wealth

2) Cut down cost of government and reinvest the saved money.

atlwireles:
We are going in circles here.

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.

atlwireles:
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.

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

atlwireles:
I hope no government in Nigeria ever again, involves itself directly, in Agriculture or Manufacturing. Some of us are praying for them to get out of petroleum sector. We have been there and done that.

When Nigeria is prepared to implement an across the board tax policy, the country will stop drowning in poverty. Oil should not be more than 30% of our budget. This is a bridge we must build and cross.

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 oil 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.

Reaction will be castatrophic .

atlwireles:
You don't have $15, if prices fall to $48 what are you going to do? Oil money is not a solution.

Oil money is one of the solutions if properly utilized.


Now let's assume oil falls to $30 per barrel. If Nigeria invests $10 per barrel in processed agricultural/ natural resources and manufacturing businesses in years to come we will break out if we privatize the businesses after 10yrs.

conyema12:
I will slightly disagree with you on that...
A typical example that readily comes to mind is the issue of our PIB where the law makers are been bribed by major oil giants in Nigeria not to pass the bill.

You will agree with me that the Bill is a major game changer that will instil the needed structure in the system

Secondly is the subsidy issue where the same law makers are being bribed to truncate the ruling( otedola and farook).

Its quite agreeable that structures when properly imposed will eradicate corruption in the system. However the polices for instituting these structures will be enacted by the same set of corrupt, egocentric, pot-bellied, gate scalers in the house of assembly that got to that seat through electoral malpractice.

So corruption presupposes all of them.

You have a point

But

Rather than waste our time fighting corruption, we should spend our time fighting to establish the right structures needed to curtail corruption.


Men will always be who they are but structures will cut their evil wings

atlwireles:
Nigeria needs a 12 months -18 months policy guideline to deal with $65 oil prices. Will your suggestions change our budgetary fundamentals.

That is the test here.

If I am GEJ, I will insist that $50 a barrel should be the budgetary fundamental while the $15 remaining per barrel should be invested into profitable processed agricultural , processed natural resources and manufacturing businesses.


If this is done and the businesses privatized after 10yrs, Nigeria will breakout.

donnypool:
how will boko haram be fixed without weapon? abi you and your family wan volunteer to fight them with cutlass?

Don't mind him and his likes

iaatmguy:
definitely you are a partisan politician. just like gej stealing is not corruption, SMH

He has a point


Corruption is not our major problem but the structure that makes corruption possible and thrive.

kmariko:
But these things costs more than 3 billion dollars.

Yes

But $3b can be used to generate more money. These investments will then be privatized and the money/profit used to re-invest into other income ventures that will be later privatized and the process repeated again and again for at least 20yrs.

swezenberg:
Nigeria keeps jumping from frying pan to fire. Russia will sell weapons to you and sell to boko haram. Who tells you Russia gives a damn about souls in Nigeria. Their business is to sell weapons. Arms deal is big business to good old Russia. Pray that those sponsoring boko haram are not offering more than the Federal Govt. It is their way to sell to both parties. To them it is business. It is the parties at war that have loses to count.

Russians don't have conscience. Death means nothing to them. That is why they are feared. Many of you can insult US but try it with Russia and see the consequence.

So your answer to the problem is what.?


Keep begging US or what

emmatok:
US is not the reason we have BH except you can prove otherwise. So we should stop behaving like the US owes Nigeria anything.
Going, to the Russians is not bad, but making Nigeria looking helpless is bad.
What is if the Russians decide to capitalize on our helpless condition and renegade on their agreement, will we run to Iran or China.
This diplomacy not local politics.

That's why I have being shouting that we involve our higher institutions in weapons development while DICON mass produces the new accepted weapons

emmatok:
How,
Stop daydreaming, Nigeria is a product of the West, rubbing shoulders with US is not going to happen, try SA first.

May be your part of Nigeria is full of daft people but my own part can rival US in a sane environment

Stelvin101:
Let me ask you a serious question. Since 1960 till date. Do you know where Nigeria have been buying her arms from? Have anyone of you shouting US are wicked for not selling cobra helicopter and other weapon to Nigeria knows where Nigeria has been buying her arms from. You people sit down and think, do research before you comment on political matters eh. Small children of these days. You think the Nonsense you read from Nigeria news media and copy to NL is the real deal? Lolz

You are a baby


If you are an indigene of NE whose home has been sacked by BH, your view about US will change when you realise that US refused to sell arms needed to recover your home but is more Willing to train a military she accused of human right violation.


Guy go and sleep.

Politics is not meant for you

emmatok:
Nigerian Government should very careful in their diplomatic dealings.
We can neither spite the US for Russia in way.
But these countries will US, Russia including China will be ready to share the loot(Nigeria) among themselves when the opportunity arise.

Trash


Fear fear


If Nigerians are not their greatest enemy, we would rubbing shoulders with US economically militarily and technologically.

9jauk:
Best summation by all standard...Goodluck got it wrong this time around.

Even if GEJ dines with God , people like you will say he got it wrong.

Stelvin101:
Not in the mood to throw insults. American has their bad side buh comparing America to Russia who is also a world power nation, people who has no concern for other developing countries other than do arms deal for them to kill themselves. I think I will pass on US than Russia in this one. I don't hate GEJ, he failed Nigeria. Simple
Am only looking this from a neutral view which 80% of y'all commenting ain't seeing. People are being killed right now by BH somewhere, what is GEJ doing? Nothing. Am not a PDP or APC id0it like u people. Am just a voice saying the truth most of y'all can't handle.

And your beloved US refused to sell arms to us needed to fight BH.


A friend in need is a friend in deed

atlwireles:
The Nigerian reserve will not be used by any government for investment. That's the insurance our T bills and import receipts have in the international market.

The question is what comes first, the chicken or the egg. People have money now, why not tax now? We cannot stimulate the economy without money. Either taxed or borrowed.

Not all our reserve that should be used.

10% of $30b is equals to $3b


This can help

1) convert over 20,000sqkm of our land into agricultural fields generating so much raw materials that can crash the cost of doing agro-allied businesses thereby crashing the price of their finished products which will help reduce the amount of money leaving peoples pockets.

2) tap our other natural resources and process them.

3) produce/manufacture the products we import.

atlwireles:
Let's return back to our American oil at $65.

HahahahahahahaHahahahahahaha

OK no problem.


But I stand on this view that government should stimulate the economy before taxing the economy.


Lets use some part of our reserve to invest into profitable ventures in order to stimulate our economy before taxing the economy


Major profitable ventures are agriculture, natural resources and manufacturing.

Massive supply overcoming demand in these sectors will boom the economy making more money appear in peoples pockets when their jobs/businesses pay them better due to good turn over or reduce the money leaving peoples pockets as price of goods/services crash due to fall in cost of doing business eg raw materials.

This will empower our people to pay taxes .