₦airaland Forum

The issue isn't AI in itself. AI can do a lot for us. The issue when those in power are after enriching themselves and do what is within their scope of understanding for outrageous amount of money. AI can spot fraud faster. Can eliminate wastages too among many things.

I thought Putin ãrslickers said western media don't report Ukrainian loss.

If true,why not export and earn forex? Why jostle for forex with screwdriver importers.

Lol... Entitled bunch!

nathyx:
The Federal Govt Exclusive rights enjoyed by Dangote certainly has harmful ripple effects on the Nigerian economy.

Not true but very close to the real picture of things. When you combine his connections, wealth, and business acumen, he has what can be safely assumed exclusive cement right.

grandstar:
Dangote has no exclusive rights to manufacture cement. Anybody can just like his biggest rival Bua Cement.

It's the ban that has enabled Dangote and other local manufacturers make obscene profits producing cement due to lack of competition from imports.

he has no exclusive right to cement indeed but cement is capital intensive business not many can enter and even of those who can enter it, none is as connected and privileged as Dangote. His tribe controls west Africa and Nigeria(army inclusive).
His family has the influence and power very have over their countries in the world. He is a profit driven man and will gladly take efficient technologies over human inputs, thereby sacrificing employment.
All the govt has to do is open borders to cement.

grandstar:
Government should lift the ban on cement importation and place a 30% import tariff on it.

I would have preferred a lower tariff but one must factor in the fact that Nigeria is a high cost production environment due to bad infrastructure

If power was 24/7 and competitively priced, the duty should be lowered further. I'm sure he's more than recovered the cost of building most of his cement plants and paid of the loans.

Even with a 30% duty, Dangote will easily break even. It is BUA and co I am not so sure of. Cement production is strongly tied to cheap power and Dangote has efficient power systems that gives him ridiculously low cost power by reason of scale of economy. There is nothing bad in kick starting local production. GEJ too tried it but in a better format via YouWIN. Reduce the privilege and capital and spread it out to young people with no connection to become monopoly monsters.

grandstar:
He has been looting Nigerians dry for years.

There was a year his after tax profit was more than half their revenue.

That meant if he cut his cement price by half, his company would have still made an after-tax profit.

I don't blame Dangote. It's Obj I blame who banned cement imports upon the greedy urging of Dangote that Nigeria could conserve foreign exchange by producing it locally.

This serves as a lesson to those who preach made in Nigeria.

As usual, you sneaked in your bitterness towards individuals not on your side. OBJ banned import to allow local producers kickstart their journey into local cement production and avoid using scarce forex to buy what's in our land outside.
That doesnt and didn't stop successive govt from opening the borders to import of cement in order to maintain competition seeing that cement is capital intensive for Nigeria industrialists. All that needs to be done now is to open the border to cement inflow and let Dangote close shop if he want to as he is used to when he sees fierce competition. Indomie(noodles), juice, tomato and more of his business closed because competition won't allow him easily fix price to guaranty huge returns he is so used to. Now imagine if those businesses were capital intensive like cement, and resources licences based - something that requires politicking and connection to get for limestone - what the prices of juice, spaghetti, tomato and noodles would have been.

Dangote is a monster we made.

That's his specialty. Politicking and propaganda.

His convoy and life pension benefits alone is enough to cover the unga expense.

Exam in Africa is do or die for most.

SpecialAdviser:
The offense started when some moro.ns felt a particular tribe are their major headache and kept voting mumu people into government and kept repeating mistakes every 4 years

if a certain tribe can inflate prices via trade unions to the point goods that get to them first before being transported elsewhere with extra cost is cheaper in every other place. That tribe doesn't deserve power.

Nonsense talk. What was the loan used to do? If it was used carelessly go after the thieves who put you there or STFU Mr President.

helinues:
Abi oo

The wailing is now becoming generational things

you so foolish sir.

lexylaw40:
Emefiele will rot in jail for what he did to nigerians

those who did worse are in good offices today

How much una do am.

Same set of mostly 99 class who after a painful subsidy removal quickly floated the idea of salary increment for themselves. I laugh.

You used to be their chief complainer and solution provider on media via moronic article ideas/suggestion. Provide solutions now or keep quiet while pillaging.

agulion:
We Yoruba Muslims are not suffering anything, Tinubu is doing very well

same way catholic Christians under Obi bought jets to spray herbicide for garden abi?
Tribal legends.

Lol. In the midst of abundance and fertile, mineral-rich land but hungering.

Good point made but that's half of the job in my opinion.

The process of sending parcel abroad should be made genuinely as simple as ABC to allow genuine exporters start small and grow big without burdening the central purse for dollar thus weakening the Naira.

The likes of Dangote who love monopoly out-muscle small businesses in the forex jostling process. And because they are monopolists don't want to face Iintl competition so do not earn their own forex as much as they should.

This admonition should be supported with cost friendly export process void of rent seeking civil servants.

Whats the point straining yourself to prove your pocket when other vital aspects of the tradition like submission and virginity are ignored.
You mean your forefathers bought all those canned drinks and beverages too? Africans are wonderful.

Burob:
Please Just Shut up Incoherent Lazy Thing, President Tinubu should perform magic in 3 months, fix & repair Nigeria for ungrateful peasants like yourself?

Be waiting, I can only but laugh @ You sophisticated Almijiri.

I thought he hit the ground running. How come the system is grounded after 3 months.

Look, there is a huge difference between politics and leadership, BMC agent itsme01. Having your crooked ways needs politics atimes and gives a good feeling but he is a terrible leader. Production is collapsing and he cannot resurrect it. Printing money and increasing taxes in an import dependent economy are recipes for disaster.

itsme01:
The problem is you people don't know how Government works, you just do social media follow follow


How will an educated person

Blame Tinubu that has no Budget, no Minister, setting up cabinet

For Policy of Buhari and his Cabinet

Mention the policy Tinubu use to destroy Nigeria, let people see if you understand simple SS1 Government and Civic Education

lol...you are pathetic spinner.

itsme01:
Tinubu is a President not a magician

signs off cluelessness. I am surprised three months into his tenure, he has damaged what he inherited and is conceding defeat. I thought he was a developer and master strategist. He is only good at manipulating books and politicking.

KanwuliaExtra:
A WHOLE FOREIGN RESERVE-QUOTA SYSTEM BILLIONAIRE?

devaluation of naira means his naira worth might go up slightly but his forex worth is becoming smaller. I can't fault him for running away though.

OKUCHI11:
I'll still say it... majority of the factors that led to the rising of

Dangote

is from the government...

a connected Fulani man no doubt but he didn't get privileges alone from the onset.

I don't fault Dangote, i blame the govt who can't maintain refineries yet won't secure substantial stake in the one they are heavily subsidizing scarce dollar for. You made him a billionaire, you are giving him forex to expands because he hates competition - the only thing that can fetch him personal forex earning - yet can't secure good share of his visionary assets you are funding. That points to sabotage on govt part. Some govt officials should be facing the prospects of firing squad if not for entrenched corruption in Nigeria.

That means states have less connection to their people. All focus is on FG.