₦airaland Forum

From around a quarter of that two - three years ago. The govs will suppress the extra and take like half of it to forex market for conversion in preparation for capital flight.
Tinubu's strategy of spending to stimulate is hinged on what the governors do with their cash.

It is just how we are. We don't believe in making it available for cheap and for all.
If we try to drink as much, imagine what Fulani will do to farmers to maintain milk supply.

Hmmm.. Him try o.

Nigerians should stop looting his trucks after this.

killsmith:
This idiot with Mark of 666 on his forehead.

lol.

Lol. 2027 starts now. No time to dull.

What ransom can these ones pay?

Only blood of Jesus fit bail them.

What ransom can these ones pay?

Only blood of Jesus fit bail them.

That's what Buhari did when he collected loans and agreed to repay it with future crude oil sales. Ghana also used their cocoa to take laons.

I think Africa as a whole needs restructuring. Let no govt be able to take above 2.5% of economy size as loans under any circumstance. Let loans be tied to internally generated revenue from industry and commerce and not to natural resource sales.

It is Business as usual as long as corruption is concerned.

The sponsors of bandits and terror are not important it is the users on Binance that must be exposed because they are seen as from one region.

0% loan.

grandstar:
Economic illiteracy is what's fuelling this your obsession with self sufficiency.

What's concerns Nigeria with self sufficiency in refined oil

We are talking global dominance in oil and gas and you're talking self sufficiency?

N8geria should be the defacto hub of oil and gas on the continent! Refining 4mbpd, petrochemical giant, fertilizer giant, logistic giant, world beating oil servicing firms, generating 100,000mw of piwer etc. You're talking self sufficiency. I dey talk supermarket, you dey talk kiosk.

This is a product the nation has competitive and comparative advantage in has been left moribund due to the subsidies on refined products. If maximized, it would transform the native.

Economists are not in search of self sufficiency. They are in search for the maximization of resources.

Simply being self sufficient in what you can produce is self defeating.

If the resources squandered on rice had been spent on crops the country has comparative advantage in, agricultural expirts would have increased by at least $5bn. It actually be up to This is more than enough the cover the rice imports for a year. Sheabutter and sesame seed can each generat $2bn. And that's only 2 crops.

Cambodia increased cashew production from 100,000mt to 700,000mt within a decade. Nigeria still remains at 100,000mt. When you focus on where you have comparative advantage, you gain many times the return so called self sufficiency goals can ever achieve.

The country should be a dominant player in yams but I forgot all resources have been poured into rice. So, Ghana is a large exporter of yams to the UK than Nigeria

I can not continue to educate an economic illiterate who can not mention a single economist he admires. It is because their names aren't in Yoruba textbooks.

You have also dodged the question of which county today is sucessfully using import substitution policies to drive growth.or industrialization. Is that why you read Yoruba?

pride has swallowed your brain obviously.
You shifted goalpost to economist are after maximizing blah blah blah...

Self sufficiency connotes meeting local needs in an area and there is nothing bad in doing that before exporting. You prefer to ridicule that just to oppose me and keep debating nonsense stuffs. Is there any sense in refining 4mbpd and then importing same finished product you are exporting? Self sufficiency means you have your local need covered in that area. Olodo. Go and do your charge and bail hustle Oga and stop shouting Yoruba textbook up and down.

grandstar:
You always choose to be stubborn, just wanting to argue.

As he said, importation is largely driven by demand for different tastes.

For instance, there was a year Japan limited imports of US beef due to the outbreak of disease.They turned to Australian beef. However, Japanese were not used to Australian beef. Tastes differ.

Yes, some beef may be imported and reprocessed and exported or used locally if it's profitable to a businessman.

There's so much variety in the meat industry. So many types of steak, hotdogs, burgers and so forth.

My brother's friend buys his steak from South Africa for his hotel in Nigeria.

You forgot to change accounts before supporting yourself. Lol.

Tranquillity360:
Niger Delta should know where their enemy comes from. This is what OBJ did to the people of Odi, now Tinubu is doing the same thing.

Nonsense. What about what the Bayelsans did to western corpers after 2015? Very idiotic thing. Why is it under Yoruba president you always kill soldiers?

The idiot linked reactions but forgot the action causing it took place under same circumstance his thick skull is trying to twist around.

Freelance contractors is what most governors are.

Seems Tinubu is feeding his close associates fermented corn & cassava.

budaatum:
I wonder how you think we get those big yams that are desired for dowries.

don't mind some numbskulls. Yams grow well beyond what they are used to. The fact that rain pattern interrupts yam growth in their states and that they are the largest producer has made them conclude that's how yams grow worldwide. Same giant of Africa mentality is what is affecting the one prating with me on Import Substitution.

Let me shock them further. Yams grow better when your propagate them from yam leaves.

grandstar:
Every thing about you is import substitution.

Saudi Arabia foray into agriculture is largely borne out for the need for food security and has very little to do with import substitution.

You know little about Saudi agriculture. It is a mighty financial liability with largely unfavourable returns. It has also proven to come with enormous environmental cost, emptying aquifers far faster than they can be refilled. Basically, money badly spent.

see link below

https://en.wikipedia.org/wiki/Agriculture_in_Saudi_Arabia#:~:text=Agriculture%20in%20Saudi%20Arabia%20is,the%20production%20of%20such%20products.

"During the 1970s and 1980s, the government undertook a massive restructuring of agriculture in Saudi Arabia. The stated objectives were food security through self-sufficiency and improvement of rural incomes. Although successful in raising the domestic output of several important crops and foodstuffs through the introduction of modern agricultural techniques, the agricultural development program has not entirely achieved these objectives. In regards to self-sufficiency, the kingdom produced a limited surplus, sufficient to export some quantities of food. However, if the entire production process were considered, the import of fertilizers, equipment, and labor have made the Kingdom even more dependent on foreign inputs to bring food to the average Saudi household.[4]

Two patterns of income distribution emerged: traditional agricultural regions did not benefit from the development program, and the government's financial support led to the establishment of large-scale agricultural production units. Some of these were managed and operated by foreign entities and owned by wealthy individuals and large businesses. From an environmental viewpoint, the program had a less than satisfactory impact. Not only has it caused a serious drain on the kingdom's water resources, drawing mainly from non-renewable aquifers, but it has also required the use of massive amounts of chemical fertilizers to boost yields. In 1992 Saudi agricultural strategy was only sustainable as long as the government maintained a high level of direct and indirect subsidies, a drain on its budget and external accounts.[6]

The contribution of agriculture to the gross domestic product (GDP) in 1984 was 3.3%.[7] In 2001, it increased to 5.1%, but it was due to decline in oil revenues.[7]"

The tightening of monetary policy moved the Naira from N1900 to 1650 to the dollar overnight, Prices of goods have started to drop. It needs to be tightened further to 30%.This should make the Naira appreciate to around N1,200.This would lead to a further fall in prices.

The warehouses filled with unsold goods is a result of your loose monetary policy which led to skyrocketing inflation which made goods unaffordable.

Can having unprotected sex lead to pregnancy? Yes

Likewise tighter monetary policy can lead to a recession, at times a serious one. You seemed ignorant of the fact.

But once inflation is subdued, monetary policy is loosened and the economy begins to stir again.

Still churning out useless data to support trashy arguments.

Self sufficiency connotes local production and if there is currently an import trend in that area, then import substitution is just another term for the process that leads to self-sufficiency. One is the goal and the other encompasses the whole process toaards achieving that goal, but in your stone-headedness, you prefer to twist grammar and play the smart debater. All what you presented as argument ended up supporting my point that import substitution is needed in our case because we are currently importing what we can produce locally. We have refinery so can substitute petrol, diesel and jet fuel import with local production. We practice agric so can equally substitute food import with local food if there is increase in production.
We have willing learners that can be groomed to achieve same in medical tourism. Same for education.
Rebrand it all you want and put up your courtroom attitude of never backing down all you want, we still need import substitution.

Seems even your ardent supporting monikers are fed up with petty tactics cos the likes and shares had dried up. Lol.

grandstar:
I asked you to mention one country that uses import substitution as a primary model of growth and you've stayed silent.

Again, I asked you to mention 3 economists that you hold in high regard and you've remained silent

The junks you mentioned intended for advanced and functional economies are what transformed Hong Kong, Singapore and Chile into prosperous nations.

Singapore wanted to initially go your route which was the import substitution route but dropped it. Had it held on to it, it would have made it a poor nation.

Import substitution is only needed when there is an unfavorable import trend. You don't expect Saudi Arabia to be talking about import substitution for crude or petroleum products. They already had those covered by local production and common sense dictates you understand there is no point trying to import something one already has just to achieve import substitution.
Same Saudi Arabia is however trying hard to achieve import substitution in agriculture. They are using technology to overcome their limitations against all odds. They desalinate salty sea water, gathering clay matter, and doing all year irrigation farming in a bid to wane themselves of excess food importation.

That's what Nigeria needs in as many area as possible. In agric, tech, medicine, general industry and manufacturing of goods.

Your over-westernized skull thinks some textbook theories you read about is the way out. Since the tightening of the so called loose monetary policies have you observed any tangible gain? Warehouses are filled with unsold goods and if that continues, jobs are on the line. FDI inflow might be negated by outflow and closing industries.

Our economy is one of huge potential and little actualization. It is built around oil and agriculture. Funny thing is both sector are not capable of meeting out local needs of what we use them for. Oil can barely service debts and agric can barely feed us. That leaves us with importation trend and a room for import substitution as the surest short, medium and long term solution to our challenges.

Not some monetary and fiscal indices or textbook jargons people can't relate to.

Buhari already consumed the present and future oil revenue. Are we better for it?

One can only consume what he has, but what's is missing can either be produced or exchanged for what is sold. Very dull fellow.

Like 10% of the loan will go to the IDP welfare. Liars.

Review looks fair. Sounds like a 4.2 out of 5.

grandstar:
No mind am.

Someone that read Yoruba and he's claiming to be an economics guru.

That's how you always reply to your imaginations and present facts that don't support your witchcraft arguments or logic.
I never claimed to be an economist. If assimilating junks intended for advanced and functional economies then regurgitation them here makes you feel like one, I pity you and your mutual Delusionists here.

Cromagnon:
What does that have to do with blue3k?
Is his stat not correct?
Are we not top producer and consumer?

is it?

Subsidy went on sabbatical and is back.

Lol. See ideas.

OP. Buy small android phone and apply to like 100 Nairaland user for BMC job of praise singing. N30k salary is sure.

HardBishop:
Inside concrete? Or inside your pants

Inside your brain and intestine.

What is the bamboo gets eaten up by pest or microorganisms?

If you know how many anti-corn advocates are astral projecting to steal spiritually you won't cook this nonsense and come o line with it.

Putindbutt:
Go to the north, go and join bandits and enter bush, body go tell you.

EJEGBULEJE:
Go to Katsina

Did I go to SW to see godogodo or to SE to see Ipôbs when captured and killed?

Audio killing with no pictures. They can prove me wrong though.

All for the camera.