₦airaland Forum

Morgan567: American economy is in trouble and America is Nigeria's biggest oil patron, I'm sure they are owing Nigeria too....so it is simple, if American collapses Nigeria will collapse or almost collapse because our financial fate to a degree is tied to America. Guess Naija should learn a lesson here....the world's about to be turned into a jungle. #sigh...God help us all.

trolling: Dethrone the petrodollar

Magic Bishop: Obama's band-aid approach to fix the economy only caused more bleeding

Magic Bishop: Stopped at the bolded.

Government this, Government that.

Land is cheap, Labour is inexpensive and the markets are every where. What's stopping Nigeria entrepreneurs and un-employed graduates from going into Agriculture?

Wallie: The problem is that we implement our policies haphazardly with no strategic goal in mind!

On one hand we stop the importation of rice but fail to put measures in place to grow local production and the end result is consumers being faced with scarcity that will not abate.

Also, we are signing free trade agreements left and right even though we do not produce/manufacture a damn thing (at least on a scale large enough to make the agreement worthwhile)!

Solution – if you’re going to stop importation of anything, make sure that you encourage growth in that sector and you give manufacturers time to take up the slack. You can easily encourage growth by inviting the manufacturers of the product you import into your country and providing them with low interest rate loans. HOWEVER, you absolutely have to encourage/demand minimum local participation because the end goal is for technology/know-how to transfer to your citizens.

This is the only way for Nigeria to improve.

Magic Bishop: Thanks to Obama America now owes approximately $30,000 per citizen

Thanks to Obama, American Foreign policy currency has seriously been devalued.

Amhatu: Most Importantly our African leaders better start taking steps now to ease away from the catasrophe when the dollar loses more value!!!

caukerzee: Is it not obvious that the motives of the repulicans are polical rather than what is best for the nation?

Billyonaire: Chinese and Japanese are watching how their billions will disappear in a matter of hours.

Ola one: Exactly what I want. But alternatives out there are scarcely desirable. A case of frying pan into fire.

abubaka101: China's current setup has helped move over 600m people out of poverty, Americas population is less than 400m.

0monnakoda: Have you ever been to China? You just sit down and regurgitate what the West tells you about them. People question government activities regularly in China but China is NOT the West they have a different culture. Everything you think you know about China is what the West has told you. I suggest you go and see things for yourself

Billyonaire: Chinese population is approximately 5 times of that of America, as at last week the population of China stood at 1.351 billion. And let's assume that a billion of them can not afford their "cheap fake phones", but that is actually a plus. In Economics, we say, there is a Market for 1 billion Phones in China, and let's say the cheap phone is $1 each, it therefore means, there is market for $1billion dollars worth of phones in China but US market has been saturated cos no one is without a phone there (if that makes you happy), so in essence, its actually a plus for China.

Billyonaire: I will love to add "GOD HELP AMERICA". The world needs America.

Billyonaire: America's population as at this minute is 316,906,069 of which a whooping 46,916,789 are LIVING IN POVERTY.

Billyonaire: Please Explain the bold paragraph especially stockpiling dollars via one-way trade.

Donmams: The fact is any individual or country that oppresses muslims will eventually be destroyed by the Almighty Himself. America is on its way to extinction. So is GEJ.

Keneking: Can someone put Nigeria's economy graphically like this? At least we know how much we are worth as citizens?

grandstar: only one word describes the situation in the states- LAMENTABLE!

Alexbond: U.S is another GREECE in the making! i know dey can neva pay dis debt.

manny4life: It affects me and thousands of Nigerians as well as many who travel to both U.S. and China for trade and commerce.