₦airaland Forum

karl max: so u also know that the apc cook up figures and lie too .abeg make we hear word hypocrite, because. It involves a progressive theif is now a lie.. if really he is a true progressive why is his son not wedding in nassarawa!!since u lot claim the opposition states are heaven and has transformed than any other state.a progressive spending 1.5 billion for sons wedding in far away yankee. Just like u people claim fashola has restored the lagos state health sector with modern and world class equipments.but his master Tinubu is abroad receiving treatment.

Pull out those lies by APC and challenge it logically using common sense and conscience.

I will like to know those lies by the APC

PapaBrowne: But Nollywood didn't wait for Government to provide stable power. They did what they had to do and took the industry across Africa and almost global.

Dbanj and Psquare didn't wait for Government to provide proper distribution channels. They took their product to the rest of the world.

Redeemed Church, Christ Embassy et al didn't wait for government encouragement. They did what they had to do. They had a global mindset.

Productivity is not measured only in manufacturing. There are loads of ways to be productive without adequate power supply.

The cultural mindset is key. If Nigerians would think first of what companies they would start before they think of where to buy land and buy moto, our gross productivity would skyrocket.

Now look at the picture below. It is a complete line for making Chocolate out of Cocoa.
Nigeria is the fourth largest producer of Cocoa.

[img]http://www.machines.net.in/MACHINES%20IMAGES/Candy%20Production%20Line%20Series/Chocolate%20Production%20Line.jpg[/img]

The cost of that machine is N40m or thereabout. That is less than half the cost of any standing duplex in lekki.But you know what, Nigerians would rather buy property in Lekki. People say ha, how about power supply. Well there are generating plants. Afterall there are factories producing effectively in the country despite the power situation.

We need a cultural reorientation. One that is more attuned to entrepreneurship as a business model rather than one attuned to rent seeking and contract sourcing.

While i am not disputing the need for cultural orientation by the people, i opine that the magic bullet is in the hands of the government.

Even your conscience must tell you this.

Business men in nigeria are not stupid, they are sniffing around for investment in Nigeria that will yield maximum ROI.

For now production cost is relatively high due to inavailability of stable power supply and many other policy somersaults.

A decrease in production cost of a Made in Nigeria product will likely also translate to decrease in substitutes import.

karl max: just like how ur apc cook up figures and lies against the ruling party. Now ur questioning the figure cos its not a pdp governor.... Another progressive logic

Oh !,good. So you know it is a cook up figure and lie.

Then don't propagate lies if you know it is not true.

karl max: ...if the report was about a pdp governor it becomes ok but when is about a apc governor its a campaign of columny.i guess that's the new logic of the progressive. Nigerians are wiser

I always believe everybody has commonsense and conscience, they might only deactivate it.

Common sense should tell you, how did the opposition arrive at such figures?

Conscience should tell you why am i propagating lies simply to discredit the opposition?

campaign of calumny

PDP, you no dey tire !

I reckon that for us to conduct a reliable census, we should not spend more than 2 days.

A 2 day dusk -dawn curfew with say 1 million enumerators will help achieve that.

But to allow free movement of people and census process stretch for weeks creates discrepancies and not cost effective.

PapaBrowne: I like this infomation because it exposes to us how poor we are as a nation and explains why we don't have the kind of infrastructure you see in other countries. Some people want us to be like UAE or USA or UK overnight without realizing that we are not as productive as these countries.

And for those who think that this poverty is a failure of Government alone should ask themselves what they've done in their own capacity to grow this country.


Look at the collective revenue of the top 10 companies(Sales) in Switzerland and you'll understand better the meaning of productivity. These companies would be taxed by their governments and in turn would contribute to their budgets which would then reflect in things like infrastructure, social services etc.

Switzerland top 5 Revenues
Vitol9Commodities): $303 Billion
Glencore(Commodities): $217 Billion
Trifigura(Commodities):$122 Billion
Nestle(Food): $100 Billion
Zurich IG(Finance): $70 Billion
Novartis(Pharma): $57 Billion
Roche(Pharma): $50 Billion
UBS(Finance): $48 Billion
CreditSuisse(Finance): $42 Billion
ABB(Power): $40 Billion

Each an everyone of these companies bring more money to their countries than all the oil that Nigeria produces. To think that the population of Switzerland is just 8 million.

The logic is simple. Only a productive nation can have big budgets to spend on infrastructure and social services. And the private sector is the harbinger of productivity. The Governments only responsibility is to create an enabling environment. When as a nation we start choosing production over consumption, then we would begin to see changes. We have a funny culture that see our capital being allocated to over priced real estate and cars. Every jeep you see roaming our streets could have started a small factory. Every property sold in Lagos could have started medium sized factory. Our cultures must change for us to see better budgets and in turn better infrastructure.

But the government has failed to create the enabling environment.

Why is the Government at the centre so fixated on holding to so much power at the centre ?

Where is the stable power supply that will bring down cost of production of industries?

How can we talking about industrialisation when our steel industry is in comatose ?

What happened to the Ajaokuta steel mill?

kobenol: What a shame...I beg you for God's sake read healthy comments above before making yours.

You either havent seen the bridge or have no idea what a unit the METRE is.
In each case I don't think you are qualified to make such pronouncement.
You will do yourself a great favour to read up meaningful comments up front.
ps. I didnt yet do a tape measure but the bridge is over 300metres (abutment to abutment)

Don't mind those bitter nincompoops and nay sayers ,they have not seen the bridge, i understand their fears.

The bridge is over 600 metres, the length is in public space

It is amazing what 2 years and 8 months of good leadership can do in a seemingly poor state.

With the current tempo,I believe the State will witness an increase in investment drive that will be noticeable to all in less than 5 years from now. The "civil service state" can also be an industrialized state.

Mr Aboki: Standard First Five Banks in Nigeria;

1. First Bank of Nigeria
2. Union Bank
3. EcoBank
4. United Bank of Africa (UBA)
5. Guarantee Trust Bank.

Then:

6. Zenith Bank
7. Stanbic IBTC
8. Standard Chartered

Also

9. Diamond Bank
10. Skye Bank (This one is still a big Shocker)..


Now the rest like

11. Heritage bank
12. FCMB
13. Keystone Bank
14. Mainstreet Bank
15. Enterprise Bank
16. CitiBank
17. Fidelity Bank
18. Access Bank
19. Bank PHB
20. Equitorial Bank
21. Wema Bank
22. Oceanic Bank (Now owned by Ecobank. )

Thats all..

The remaining Banks outside this list are either Community Banks or .....

Thats why I only bank with Akawo Banks..

Bank PHB ke? Are you sleeping on Okada.

Where is Unity bank in your list ?

How did you assess Citi bank and categorised ?.


My point is that brands can be deceptive,that bank you feel is so strong could be a whitewashed tomb, Intercontinental bank , Oceanic Bank and Bank PHB comes to mind

Fola Adeola simply wants to assert that he is a political force worth to be reckoned with in Ogun state, his chances of becoming a governor is almost null., not even in 2019, as Amosun and Adeola are both Egba men in Ogun state

This kind of report are better kept from public, or else it can cause panic where people will start withdrawing their money from banks, they should focus on necessary actions to strengthen those banks not classified as sound

luvable sam: Bro forget d maths, we are just a broke nation
Almost everyone is corrupt, Everyone wants a government appointment.

Almost every Youth wants to work in a parastatal

No one is tryin to break away from d norm.
We are just doing d same things year in year out

I am not disputing we are a "poor" nation, your observations are in order

[quote author=Sunny_bobo]If he can't get APGA to upturn their decision, the guy should just chill. Moving to another party at this point will not only see him losing but also portray him as a political prostitute.

My 2 cents.[/quote]APGA's decision on Soludo is a done deal, If he moves to another party now, surely he will not only look like a political prostitute, but a very cheap one at that.

From PDP to APGA to party XYZ in a space of 1 month

ngozievergreen: where are the kyn devtal projects in d Sw located? Mtchew

They can not be seen while putting on a bigot lens . You care to remove them?

bigass: i am trying to do the maths. i need a casio calculator

Taharqa has given a good picture of how the money is shared, although he didnt mention that FG takes roughly 52% and the remaining 48% for State government and local government.

taharqa: Thanks to d @OP for helping to burst d silly MYTH that Nigeria is a Rich country. Hopefully we may now begin to get that to our heads; fold up our sleeves and start producing Real Wealth so that d huge POTENTIAL we hv in abundance may become a Reality instead of just sitting in our minds

The "We" is the masses or the government?

The govt at the centre is INSINCERE, i see you supporting them over intangible achievements.
I am so sure as long as we are stuck with PDP, The y will never try to solve the rootcause of Nigerias problem, but will continue to play to the gallery.

take dat: In 2012, the FIRS generated N5trillion or almost $32billion.
http://resourcedat.com/2013/01/break-down-of-total-tax-revenue-generated-by-nigeria-in-2012/

And, we made close to N15trillion or almost $93billion from crude oil export in 2012. Our crude oil earnings hit N6.2trillion for the first half of 2013.

http://www.ngrguardiannews.com/business-news/128407-nigerias-crude-oil-earnings-hit-n67-trillion-in-first-half-of-2013

I am not sure the FG has all the N15 trillion, since we operate Joint venture aggrement with International oil companies (usually 60 /40). Dont also forget of the FG keeping roughly 52% of what is left and sharing the remining 48% to states as federal allocation.

mrakin: Why not add all the states' budgets so that we can cover our shame a little.
Na wa o. Our oil money nko?

We need to face the shame and seek sustainable solutions rather than cover it. The other countries posted have states / region / province budgets too

The annual budget of Nigeria is less than that of some ivory towers in United state.

bigass: so? but it doesn't negate that we have a long way to go

We have not even started yet.

Nigeria is currently fixing the effects of its problem and have left the cause

ba7man: When we refuse to look beyond Oil.....I mean, what happened to the countless resources lying around the country and developing human resources??

Whoever is to rule this country needs a more agressive approach to moving this country ahead.

Tackle corruption, reduce the size of Government cabinets, reduce their pay packets, tackle oil theft, develop the exploitation of countless resources we have etc.

Anyone who isn't doing this while in power is as mediocre as that figure is compared to the rest.

We still have mediocres at the centre, any government who doesnt focus heavily on increasing the revenue to the nation and fixing leakages is a joker

solomon111: The only way we can truely become rich is when we adopt TRUE FEDERALISM.
There is so much resources lying fallow.
Let every state or even a regional government fend for herself by developing and commercializing its area of comparative strength with payment of taxes to the FG.
This is the only way we can maximally utilize our huge resources and increase available funds.
The FG has done a bad job in exploring and utilizing our resources.

You are right on the true federalism !

I laugh in amusement when some people say Nigeria is rich based on its less than 5 trillion naira annual budget for 170 million souls.

Nigeria is rich in untapped natural resources and quantity of human resources.