Victory662: Honestly I don't really understand why Nigeria is finding it difficult to exit this streak of backwardness. Is it overpopulation, lack of resources or just ineptitude of our leaders.
For me, I was thinking it wouldn't be hard to generate enough power to serve the country; especially after considering how much the government spends on generators to power up different agencies. Most times we borrow money as a country to supply generators and listers to power up the government agencies and projects. Can't the borrowed money be invested in power generation which is cheaper, cleaner and could also generate more revenue for the government.
Why can't we have a working refinery owned by the government. I understand crude oil has global price tag but the cost of shipping out crude and refined product back for local consumption could be channeled into something beneficial for the country.
We are eating up our animal hides here while other countries are tanning theirs and selling back to us as heathers. Some of these countries buy this hides from our local markets here.
We have a very expanse of uncultivated land yet we depend so much on importation of food.
Is national security that difficult to achieve?
What about setting up a plastic and ceramic recycling plants, it will clean up our environment and generate money at the same time.
What about establishing a textile industries? Over 200M market is such a good place for textile industry to thrive.
I actually think turning the economy of Nigerian around is not a rocket science because I know so many areas our government is not doing well
When Obj came, with his reforms came prosperity for Nigerians and this went on to Jonathan.
You're just trying to defend the monumental failure of the APC govts
nairalanda1: Even then back in 2001 we was complaining about falling naira, how most people were suffering and japa was still common.
And the naira was falling. In 1993, 20 naira by 2001 getting close to 100 naira. People were crying then.
Japa was happening. Recall the dv lottery?
And our forex needs were not as much as they are now. No active telecoms sector then so imports of computers and phones were not as high as now. Limited internet, etc.
Nigerian problem is how to improve earnings. In the face of oil money's inability to satisfy our growing population. That is why apc is useless. They have failed to answer that question
How much was oil price in 2001 vs 2014? Was the naira not defended in 2001 even with lower oil price than 2014?
nairalanda1: Let's put aside politics. Even me myself, I no vote for APC, PDP, LP and NNPP so, forget.
In 2014, oil prices crashed. That meant that we started spending large sums of our reserve on keeping up the naira. At the same time we started borrowing to keep our heads above water. Started with PDP, continued with APC.
As at JUne 2023, 90% of our revenue were going to debt servicing...because oil prices had been so low (at one time below 20 dollars per barrel), that we had to take loans to survive. ANd the loans had to be paid back.
At the end of the day, anyone who took over, would have had to do something. And it is either we stopped spending money on subsidisng the naira, and partially removed subsides...or we kept on pretending that one naira was one dollar, and got more and more broker.
FUel subsidy costs were rising year in and year out....
I don't like APC, PDP , I wish we voted them out since , I have not voted for any big party since I cast my first vote in 2003, and yet, the truth is, with debt servicing at 90%, and with us nearly at the mercy of the IMF...what else would we do.
ANd the fact is, if government had diversified our earnings, we would have been able to mittigate these problems. But APC failed in that regard. Here we are.
I am not even sure that Tinubu wants to diversify the economy, plus he is still doing subsidy...which means waste of money self.
ANyway, I don talk my own. All I know is, if subsidy had gone in 1993, we would not have been here. If we had taken the National Development plans serious, especially the Third one which was to have commenced in 1980, we won't have been here. If we had had leaders who had been commited to making us a manufacturing nation, that exports manufactured goods, we won't have been here.
Tinubu will run this government the way he likes, then prosperity will judge him.
No idiot nor nincompoop will tell him how to run his government. He is bold and courageous, and he has proven over and over that he doesn't mind who is offended by his actions. He will do what he thinks is right, and allow his conscience and history to judge him
Your analysis of the situation made a lot of sense
gaby: Those who follow me and read some of my comments with an open mind will agree that I have been harping on about how "if we continue to allow our parochial tribal and religious biases to dictate our choices and sentiments, Nigerians will soon be needing a wheelbarrow load of the pieces of toilet papers called the naira to purchase a single loaf of bread" that is, when and where the bread is readily available. What we are witnessing right now is just the starting point, I am not a pessimist or a doom prophet but a realist who takes pleasure in weighing issues from onset, ongoing, and able to conclude what the results could/would be without any form of bias.
If only Nigerians truly understood what is going on and how the country is being murdered from every angle, no one Nigerian would continue to buy into the nonsense propaganda and diversionary tales of "we are an import-dependent country, hence, the continuous erosion of our foreign exchange earnings". Did Nigeria suddenly become an import-dependent country in the last decade? A question to ponder upon.
I'm going to try and explain to the best of my knowledge and understanding of what is going on and how the corrupt politicians, the rogue Nigerian businessmen, and Dollar billionaires have completely wrecked the country and how there is currently no one alive in Nigeria that can remedy the situation. Whoever tries to or attempts to mess with the status quo, will be frustrated to surrender, sabotaged from all angles, and even assassinated.
If there was one man who would have tried to do anything to frustrate the wanton looting of the Nation's commonwealth, I would say it was "Buhari", but he too got in and soon realized that the situation was unmanageable and unsalvageable. The enormity of the rot from even within his inner circles was glaring and overwhelming.
The rot in the system is so deep that should one as the President decide to focus his attention on the economy the saboteurs will shift their focus to insecurity and vice versa.
Buhari had his many flaws while in power but he almost remedied some of those flaws at the twilight of his administration when he came up with the now infamous "Currency change" policy. This was one masterstroke of a policy that probably would have nipped in the bud the madness that is currently on full display today. But what did we get? The thieves who were the major targets of those policies rallied the poor citizens as usual who didn't have the Billions that were the targets in their accounts and could have persevered through the discomfort of that stage for us all to come out better and made them believe that the policy was against them, their choice of President, and were all seething to take up arms in protest.
That particular policy was targeted mainly at the ruling class who had Nairas in bullion vans stashed up in varying locations within the country and away from circulation. The policy would have frustrated them and possibly forced them into routing those funds back into the banking system and then making it easy to identify who owns what and how he/she came about such funds.
After all the hues and cries, what we are facing right now is a direct consequence of that policy getting knocked down. The politicians and rogue businessmen including your President are all dumping the worthless Naira they looted to infinity and using it to mop up whatever Dollar is available and at whatever rate.
You can imagine if just Sadiya Farouk, the former Minister of Disaster dumped just her loot in the forex market for a mop-up, and then we have all the governors, senators, etc who have looted the country dry. And now they want you to believe it's due to importation.
As far back as 2022/2023, I commented here that when Buhari leaves Nigerians will ask for his return in an ironic manner due to how bad the next administration would be and it didn't matter if it was Atiku, Obi, Tinubu, or Sowore, that's how bad the situation is and unfortunately enough, it will only get worse except a miracle happens. The world has witnessed this with the Zimbabwes and Somalias of this world.
It is very bleak my people, very very bleak. All we need to do is to find a way to take back our country from these demons, disintegrate, or just find a way to start from the basics.
There's no country anymore. Ask the CBN to tell you how much Naira we have in circulation today, no body sabi.
It has gotten to a stage where even the ones in government right now have realized that there is nothing salvageable about this fake marriage and they are actively on course to loot and shore up their own regional reserve from the commonwealth ahead of whatever might come and to be well prepared and at par with the other region just in case. I only hope for the East to be given their time too to take their share before the coming divorce.
If you're not blaming Nzeogwu, you're blaming Ojukwu or blaming Azikiwe or blaming Ironsi.
Are you saying other regions leaders were 100% docile like trees?
Christistruth00: The reason Azikiwe did everything to Frustrate the agreed Post independence Kwara Referendum was because he knew Kwara wanted to return to the Western Region and there was no way they wouldn't win the referendum
That was why he was happy to have Midwest Referendum but made sure the Eastern Minorities and Kwara didn't get theirs
We accept that Azikiwe keenly regretted it Later after seeing the disaster Ojukwu led his people into just to stop the Eastern Minorities from Breaking away
There are 220 million people in Nigeria. Not everybody will be ordinary wars councilor.
Has anybody in your immediate or extended family been local govt chairman before?
Obiedun: He is fighting for himself and his family. When he was a governor, in what way did he help you? He wasted eight years enriching his family business. He will never be president.
APCNig: He doesn't care of Igbos lives, he cares only about non-Igbos lives. Idiots think everyone is also an idiot. Well, what do you expect from a 3rd Class Philosophy graduate, but stupidity and senseless
Obi has to be the presidential candidate. Thats the only condition to accept anything!
10mobile: Why not? I know that we've been conditioned to think that Atiku can't deputize again. But, is it against our constitution to be a Vice President twice? Or, is a former Governor actually inferior to a former VP as some people seem to think?
My only problem with Obi/Atiku ticket is that Obi will have a similar problem that Obasanjo had with Atiku.
As for Atiku/Obi, it's a no-no for me because that would be a waste of Obi. If Obi accepts this, he'll lose my support.
What about you? I'm only addressing the honorable Nigerians known as 'Obidients'. Anyone else, kindly stay away. Thanks.
I love Ibadan! I stayed in Ibadan and Lagos, I preferred Ibadan
hedonister: Whenever Ibadan comes up on social media, it's usually to make jest of the city. The city is usually used for comic relief and most times what people use to deride the city is either the accent, their supposed lack of exposure or theiir brown roof.
The brown roof one made me decide to visit Ibadan recently just to show the other side of Ibadan that people do not show. I mean, yes Ibadan has some areas with brown roof so does most Nigerian cities.
However, what people fail to show are the nice area of the city. Note that Ibadan is arguably the largest city in Nigeria and as such has a myriad of neighborhoods both for the rich and the poor.
So, like I said, I went to Ibadan recently to show you what Ibadan looks like.
On a side note, I think Ibadan really has nice roads.
blacknp: Colorado Bobloco na Typical Lazy man that cannot help himself, it was in the media earlier on in the month that 30 states of the federation failed to attract any FDI, Oblivious Obidient Agbadorian Bobloco & his brother DMerciful will blame Tinubu for their own docilely.
Its not cursing the country(Nigeria is not a nation, stop using the word nation for Nigeria).
The country as presently structured cannot work unless we do aggressive restructuring or separate
Rolings: That still isn't a justification for the curses Yes He is an Obidient It's only Obidients that do what he did ..... Pdp supporters don't go cursing the nation because their candidate lost....only Obidients do that and its because they are naive
Atiku told you shortsighted people to sell the fraudulent NNPC in 2019 but you said he wants to sell it to his friends. Enjoy the continued losses from NNPC
Politics › Re: Why Is It So Difficult To Make Things Work In Nigeria? by DMerciful(m): 5:30am On Feb 01, 2024
