₦airaland Forum

[quote author=Sunny_bobo]Bros, you keep spewing balderdash on this thread. First of all, all over the world, large corporations are not the main drivers of the economy, SMEs are. Large corporations are not the major employers of labour, SMEs are. That's why serious governments all over the world make policies that favour and offer support to small businesses more than the big corporations you make reference to. As per government policy wiping out ones business, that is for those who are not innovative.[/quote]No Mr. Sunny I do not write rubbish but the reality of the Nigerian economy because that's what pays my bills. Collectively, SMEs are the larger employers of Labour (in a sane economy). In Nigeria what do you have? Do we have a thriving SME? It has been estimated that an average start-up biz dies within 2 - 5 yrs. A thriving SME is the responsibility of the govt. How many mSME (micro, small and medium enterprise) can strategically move from that position to Public limited company (name them in this country).

Now you answer your own question. Has the govt implemented policies that ensure we have a robust mSME? Certainly not.

You talk of current "high" interest rate. What do you know about historical interest rates in Nigeria? Has it been any better before?

My above reply should answer your question here. I follow the rates judiciously. Na wetin dey pay my bills. Mr. Sunny I don't insult people. Even though I know that historically, the interest rate in the country has never been better. I also know the reason why it has never been better and what can be done for it to be better. So don't question my intelligence but do something about yours.

Say what you know and not what you read in your Economics text books. Dude, I'm in the field taking the bullets practically

Honestly, I studied economics, accounting, finance, financial management and business strategies. However, I do not quote from textbooks but just say what things should be and if I do quote from textbooks you would be bored to read.

Mr Sunny I do not come nairaland to brag (referring to your taking bullets practically). I can assume you know nothing about business maybe you may be referring to trading (buying at a price and selling at another price with a mark-up which you claim to be your profit).

@wislet, please I beg your pardon. What solutions do you want an average Nigerian to give to NOI. She is a Harvard graduate of economics, she has worked with the world bank and up to senior management level.

Now if she expects an average Nigerian to proffer solutions for her, then she is not expected to occupy that position (Minister of Finance). In order terms, she doesn't know what she is doing.

I do not insult her. I only demand more from her. I was highly optimistic when she was appointed and I felt for once that things would improve. However, I am shocked with the stories I am hearing; funds missing, poor budget implementation; colleagues buying exotic cars; diversion of funds; import waivers for items not existing. She should not be associated with things like these. A good reason I still respect Sanusi (even though he is sleeping with a married woman). I think she is always on the defensive, giving excuses for her incompetence and ignorance in handling the affairs of the economy.

I won't be surprised if she isn't bribing her buddies from the world bank and IMF to tell us that our GDP is improving and the status of things are declining. That inflation is single digit yet the price of garri and a bag of rice is pushing the ceiling and even the naira is devaluing itself.

In develop countries, they sack people for even tweeting derogatory words of which she is an offender and not to talk more of the leakages we are experiencing in this country.

I am hearing that the US govt would engage on its tapering measures soon. Only God knows what will happen to Nigeria, if the US begin to take out funds it has invested. How do we repay?

[quote author=Sunny_bobo]Sorry mate, where I come from we don't di politics, we don't go looking for jobs. We are entrepreneurs, we create jobs.

In my extended family about 80% of those above 25 years of age are graduates but only one of us work as a lecturer (he also runs a business in Nnewi). The rest are self employed and employers if labour. We don't wait for jobs, we create them. We don't go wait for government to spoken feed us rather we take advantage of opportunities that are limitless in Nigeria.

When my cousin who finished Veterinary medicine in UNN came back to the village to set up a poultry farm, his mates thought he was under the spell of village witches but the story is different now. Dude has built himself a comfortable house, drives a Toyota Camry, married with kids, is an employer of labour and just sent the younger one abroad for his postgraduate studies. All these and many more he has achieved within a space of 5 years.[/quote]Excuse me Mr. Sunny, what do you know about employer of labour (I mean no disrespect). A lot of people come here to brag on nairaland. What do you know about corporate Nigeria. Being self employed does not make you an entrepreneur, employing a sales girl/boy doesn't make you a provider of jobs that counts in the economy. Do you know a single govt policy can wipe out your business from the surface of the earth (for instance, the motoring policy which will take effect from Jan 2014). Do you know that at the current interest rate, it may be highly impossible for you to expand your one shop business and make it a public corporation because your cost of capital would erode your profit and make your business insolvent.

Do you know that the economic risk of foreign exchange can put you out of business even if you don't deal with foreign currency.

So Mr. Sunny don't come to Nairaland and brag about being a self made millionaire and feel less about the situation going on in Govt. If you don't fight the govt to your advantage, the same govt will issue a policy that would make your (alleged) business turn to mallam shed. Go get yourself some business education.

Kingspin: Ask your state govnor what he is doing?

I pity your mental ability to comprehend things. You and my state governor are the same. Never do well people

capricon: Listen i know things are bad but im 100% sure its not becos of finance minister. I know things are bad becos of elected politicians who embezzle funds made available to them to put thing's in place. And for the other question I lost my job but you don't see me blaming anyone, i had to do something for myself and my family

This is not an excuse. If she wants to cause change she can. I believe that is what she intends to do. She might not be able to stop politicians from stealing our monies but she can make them reflect deeply.

If I were her, on a monthly basis I will publicize monthly allocation to state and also do a state by state GDP and compare them on a percentage level. I will also publicize IGR. I will discuss with international banks to stop receiving monies from politicians and where they continue, I will start writing dirty to international newspapers how international banks aid money laundering. When the ratings of these banks go down, they will refuse taking our monies. That is how to cause change and not telling the world you are intelligent, you have to show the world that you are intelligent.

Why are people making excuses for NOI. Bi-weekly, the US govt releases non-farm jobs statistics (this statistics drives Wall Street and assesses govt performance).

Under the watch of Madam, we hear funds missing, poor budget implementation and diversion of funds. She is either a perpetrator or incompetent to handle the affairs of the Nigerian economy as coordinating minister.

First and foremost, she needs to ensure that the actual revenue the country is expected to generate is what we are actually receiving and that all expenditures are made for projects claimed (and not another oduahgate). She has to ensure that govt funds transfer (inflow and outflow) is transparent and traceable.

Secondly, she needs to fully implement our fiscal policies (I hear she is discussing with some consultant on this).

Thirdly, she has to stop Sure-P. The Govt is not a Business Angel (that is why the money is missing). She must look from a macroscopic angle by stimulating the manufacturing and agriculture industry (not just only by steady power supply) and also cheap and accessible loans.

Furthermore, she must grown the mortgage industry. I believe Nigerians will feel her impact more on this. Make housing affordable and available for the average Nigerian. Stimulating the mortgage industry can drive our GDP to an unprecedented level. Also, she must stop the lip service on importation and strongly ban products we can manufacture at home and cajole investors to come to the country and set up manufacturing plants as a condition to sell their products in the Nigeria markets.

In conclusion, her role as finance minister and coordinating minister just don't end on drafting and collating budgets but scrutinizing these budgets from ministries to ensure that there are no form of budget padding and the items would be implemented. Also, cutting down govt expenditures and looking for ways to generate more revenue. She must cut down on external and internal borrowings however necessary in order to avoid huge interest rates.

For God's sake, she is automatically the Nigeria's CEO (Business wise) and appraising her on all performance indices shows a poor rating. She needs to sit up.

drnoel: Why don´t u leave ethnicity out of it. The minister perfrom marvellously by her actions. Occupy Nigeria just wanted attention and she didn´t have it to give, simple. Face the facts and don´t degress by bringing ethnicity into it..

FYI I am ibo and my assessment has nothing to do with ethnicity. She and her team are expected to stimulate the economy. I am not saying she is not working. However, the economy is yet to feel her impact. We are importing on an unprecedented level and even things we can produce in-house. My respect still goes out to Aganga.

As minister of finance and not coordinating minister (cos I don't see any coordination from her angle), she ought to put a stop to wastage of funds, full budget implementation, automated payment systems and reduction of govt expenditure. She also needs to fully implement our fiscal expenditure and automate tax collection system. She has to close down on all revenue collection authorities and avoid "my person syndrome".

We can't keep borrowing and paying huge interest and funds are been diverted. NOI seems intelligent but I feel she is not so good in picking the right people to assist her achieve her goals.

Magic Bishop: Can you relate any period within your responsible adult life when Nigerian Economy was ever good?

Though our economy has never been better. It has never moved from B to A. I mean from a decline state to an improved one. It has always be on a downward trend. However, this trend is just getting worse. You hear the world bank and IMF claiming with their statistics and power point presentations that the Nigerian middle class is growing. You look at the street and millions of people are jobless, graduates ain't getting jobs. So where is this invincible middle class.

You spend more than the U.S. itself to maintain a moribund civil service and corrupt political officers who are part of the problem.

I do not agree with you on this. The US has the biggest civil service and the spend much more than we do. The difference is that one is more effective and delivers results than the other.

The Fiscal policies are good but the Politicians ,whether by commission or omission, are doing all they can to subvert whatever gains that should have been visible.

Our fiscal policies are nothing to write home about. We are very good in borrowing to fund a deficit balance of trade. Also, we do not have an efficient tax system, where the govt can generate extra funds.

State governors are not doing a single thing to attract necessary investors and stimulate growth within their states as their only concern is to award useless contracts for their own personal gain.

Yes they are interested in federal allocation from oil revenues and how to defect from one political party to another in order to satisfy their selfish interest.

I see nothing wrong with what the guy is saying. Our GDP is improving yet the standard of living is declining. It's so funny that inflation rate is single digit but the price of garri has never gone down. Then what consumer price index (CPI) did they use to calculate our current rate of inflation.

NOI is unable to account for revenue coming into the federation account. Sure-P funds are missing. NNPC is diverting funds, our debt profile is hitting the trillions and our budget for capital infrastructure is poorly implemented. Yet she claims to be minister of finance and coordinating minister.

Do we turn a blind eyes over these issues? I am surprised she termed the guy as negativism which I consider to be terribly wrong because the guy was only letting NOI know her popularity on the street and not in Aso rock.

First and foremost, I don't believe your story. Secondly, if your story is true, please note that 90% of forumites here are unmarried and still in their teens. So be wary of the advice you get from here in order not to spoil your marriage.

lawyer: This is the result of not carrying out a proper search. A search at the land registry would have shown that the land has been acquired and a committed land to avoid like a plague. It has nothing to do with APC OR PDP. It's just the individual who chooses to buy a land without taking all the necessary precautions to search properly. Now the Omoniles would have disappeared with their money and that's just the reality on the ground. It's just a lesson for future purchasers of land in Lagos to shine their eyes, do a search so as not to become victims of land wahalas.

Lawyer how can one carry out a land search and how can we stop the menace of omoniles

[quote author=Child_of_Chukwu]***Clears throat***
Its really sad that we cannot discuss issues objectively without resorting to insults and the use of abusive/tribalistic words. Why such hatred and intolerance? If you do not agree with another's opinion, is that enough reason to rain abuses instead of giving your own view? It baffles me. With this level of hatred and bitterness in our hearts, how can we grow as a nation!?![/quote]I really wonder and surprisingly, this is coming from educated youths and undergraduates. I shake my head and pray that Nigeria do not experience another civil war because of tribalism.

I think this is an abuse of power by the IGP. Yes the land may belong to the police. However, why take laws into your hands by destroying people's homes. The court should have decided this.

On the other hand, land issue in lagos is now very scary. How can one purchase land without any future problem.

Promhize: Sorry o arsenal fan who asked you to finish second? If u finished first you'd be facing zenit st petersburg now

True

Who is this Linda of a person that I get to read from religious thread? What is so special about her?

Strange that some people question the qualification and experience of the CBN governor. I know the governor is not trying to score any political point. He is alarmed at the way the NNPC conduct their affairs. They seem to be more of a secret cabal than a trading organisation.

Why would people come here and scream to discredit the allegations levied by the CBN governor. I pity my country. Mediocrity and foolishness has eaten deep into our heart.

EFCC please charge him to court

People just come up here to talk nonsense. Let NNPC do their reconciliation

I wonder why people are suggesting that Sanusi is trying to score some political points. He works for the government. He only informed his boss that NNPC is not remitting what it should remit. Well we know that such practice is not uncommon with NNPC.

Proper reconciliation will show how much is missing. No too much noise. On Tuesday we shall know.

I'm afraid Moyes would not add some quality this January.

Me I don't see a reason why they need or have security bodyguards. If they truly believe in what they preach about heaven being a beautiful place they should be more vulnerable to die so that they can rush off to the heaven of gold. But I believe they have created their own heaven on earth and are not in a hurry to die soon.

I remember in 2003 when Pastor Chris Okotie declared to the whole world that His God spoke to him that he would be the next Nigerian President. He lost that election and the next one to follow. Now when such people talk do you bother to listen.

I also watched a YouTube video where a popular black movie producer (Tyler Perry) donated $1 million to T.D Jakes ministry. On pronouncement of the donation, T.D Jakes fell under a spell and Tyler Perry was laying hands on him (very hilarious). Well who wouldn't be under a spell when you get such announcement.

These men run an organisation and it is their duty to sustain their organisation. The way of the spirit is different from flesh. Nobody can teach you spirituality or God. You have to experience it. Not even the bible can teach you about God or spirituality.

Spirituality (and not christianity) is a personal race. A personal experience and not folklore. So don't constraint your faith to what you are been told.

Judging from his previous post, I wonder if his story is real or he wants some sympathy. Anyways, I just don't believe the story.

OP has been dating his gf for 36months (3 yrs) that's enough days to know if you have a serious relationship or not. I wonder why the test should come in.

OP there is little more I can say than, that I doubt your story and if it is true I doubt your gf truly loves you. No woman who is truly in love puts her man's love and life @ risk.

Good luck to you and your decision but remember I doubt your story.

Everyone is telling the sister to leave. However, we have failed to ask her if she is always when she is with the guy. Remember she said he is caring and funny. Truly, the op adds little to the relationship or friendship so the guy is not impress with her person but with her booty.
If she truly likes the guy, she should stop worrying and start studying him. Strategize on how to win him over cos there is another lady he cherishes more and only considers OP when he is Hot.
I am writing from experience, some ladies can't handle a good conversation, have little understanding about men, would prefer to watch nollywood and want you to make them happy. That can be boring and stressful too. So the only way they can make me happy is by straffing, washing my clothes and cooking for me (that's all) and I call when I'm Hot. Bad case is when she is bad on bed- the booty call would only last two weeks

geeez: Sometimes, beyond the office, the personality determines the extent of your influence

If BRF was president, I'm not sure any serious nation would snub him like this

He's ruthlessly intelligent and aptly presidential

Though I do not like the way he handled some decisions in Lagos, I however have to agree with you on this. We need a charismatic president and I think fashola would do well in that department

Mr Knowitall: If you dont have advice to give then relax my friend. but we both can agree that there are very little opportunities in Nigeria.

Chief you are not even in the country and you are already assuming that there is little opportunities. You have already made your conclusion. I just wonder why you are bothering yourself. Remain in America, you don't need nor deserve our advice.

Very funny but genuine story

I love Bloomberg they know how to chase the money and get the news

The power supply is generated by the oil firms and not the govt

The script is wack

Nonsense news

Nonsense.