₦airaland Forum

Meringe:
I see so many funny comments here. For record purposes, this demolition is a scam. They private individuals cum politicians want to forcefully take over people's shops through govt backing.

You allocated shops to people and you turn back to revocate it.

You sold your land to investors and later years, you want to forcefully take possession of the the land because your kinsman is in power.


Ariaria intl market is almostly owned by non indigenes and since the governor took over, his kinsmen have been plotting to forcefully take over shops in Aba because of envy and greed.

The plan is that a shop owner pays #2,000,000 to the developer and the will use the fund to build a two Storey lockup shops, they original owner is only entitled to one shop out of the three shops which his money was used to build.

Who's deceiving who?


If you want to demolish shops, go for the ones that were built on drainage and workway.

mrvitalis:
As far as am concerned this a common criminals and should be treated as such

There has never been any group fighting for the interest of Niger Deltans just for selfish arm

Dss should be deployed immediately to infiltrate this fools and in the next 6 months gather enough information to nail them down

Bbklopsy:
D good news is that many big shots in phone n ict business in aba r already acquiring big showrooms here, i need not mention names.d way its beginning look to dis days,delay might really become dangerous for some. our prices r very affordable.#you get 3mnths free when pay for 1yr. hurry!!!

lustychima:
are we to start d victim game again......am sick am tired of how some Igbos reason....if an igbo man commits a crime should he b allowed to walk away simply coz he is igbo?.....and if everyother tribe stand wit every of their own.....who will den b prosecuted?.....if he is innocent they will drop all charges and unfreeze his account......stop downgrading our region by making it look as we always stand wit accused....biko nu!...aka ya diri ocha, aga ahapu ya

lustychima:
are we to start d victim game again......am sick am tired of how some Igbos reason....if an igbo man commits a crime should he b allowed to walk away simply coz he is igbo?.....and if everyother tribe stand wit every of their own.....who will den b prosecuted?.....if he is innocent they will drop all charges and unfreeze his account......stop downgrading our region by making it look as we always stand wit accused....biko nu!...aka ya diri ocha, aga ahapu ya

diegwu01:
What is this one saying?, instead of you to sympathize with the OP for having a Horrible time going through the horrific experience, you are here listing roads without evidence,
The OP has taken pains to post pictures of almost 75% of the Major roads in ABA, including the Ariaria International Mall, you are here listing fictitious / non existent roads.

joborskill:
[s][/s]


i am not obsessed with the Igbos but i want them to be grateful and appreciate the spirit of oneness installed in us by Lord Luggard. Why would the igbos wanna pull out when they have benefitted the most in this union? They are the most travelled doing business in every part of the nation. Yet they scream marginalization after making political miscalculations. Gej's defeat is the reason they want biafra as if GEJ give a rat ass about them. They have no resources to stand alone so we wont let them go

Bugzynigeria007:
I must first begin by saying that I am in great support and believe in President Buhari’s led administration and know they are tirelessly working selflessly to restore Nigeria. I also believe that this restoration campaign is not only the president’s job alone but the work of all well meaning Nigerians. So I am compelled to use this medium to try and shed more light on “The China Deal” hopefully it might better inform our leaders, so as to represent we the citizens (youths) effectively.

FG should consider restraining itself from going further on the “China Deal”-economic agreement. I am no expert in this field but I am educated enough to understand, that some executive elements and component are unpatriotic and may not be advising the executive correctly; the “deal” is imbalanced in purpose, design and objectives. This deal in reality has no potential of jumpstarting our economies or will it add value to our Naira in the long run. Or result in the expectant economic CHANGE we hope for.

Economic growth means an increase in Real GDP. Economic growth means there is an increase in national output and national income. Economic growth is caused first and foremost by factors on the supply (output) part of the economy, everyone benefits as increased supply leads to lower prices (REDUCED INFLATION) and higher productivity-a company increasing productivity necessitates an investment in additional capital and the hiring of more workers, both of which stimulate economic growth. Other factors that stimulate growth are increases in both the QUANTITY and QUALITY of local productivity that leads to an increase in export.

Economic growth can be said to be caused by two main factors; increase in aggregate demand, we have “250 million of this “Demand” (in waiting), and an increase in aggregate Supply (productive capacity) - NIGERIA’S CRITICAL DEAL FOCUS. An economic boom is affiliated with a rapid rise in aggregate demand; the faster the rise in aggregate demand, the higher the short run rate of actual growth. We already have a potential aggregate boom all we need now is to focus all our energy and resources in meeting that demand with appropriate local quality Supply.

The “China Deal” favours our partners so much more for nothing and this action I fear may inevitably devalue our Naira less than its actual value. Presently, our national reserve has 20% of its currencies in Yuan - a currency innately devalued against the dollar. China can employ such economic policy and strategy because they have the economic maturity, market population, production; capability, capacity, competency, technology and socio –economic infrastructure and “unified” expansionary monetary policy. And however, the currency swap deal has not shown long term successes with countries that have adopted it like Argentina, Kazakhstan, were our Naira has more value against the dollar-purchasing power.

Nigeria has core economic issues that MUST be addressed holistically, strategically and dynamically, in other to actually jump start its economies in moving forward, which this deal does not adequately address. The remedial effort of the “Chine Deal” addresses the resultant symptoms of a bad economy and not the macroeconomic root cause-solution path. This deal does not;

1. Make Nigeria’s local exports cheaper and or ensure the increase in quantity of exports (FX) or increased consumer confidence on local products, which encourages spending (quality).

2. The technological improvement to improve the productivity of capital and labour is not captured in the deal’s framework e.g. software development, hardware manufacturing and the internet infrastructure have been known to both contribute to the increase of economic growth in other countries.
3. Address lower interest rates from our local commercial banks to encourage spending and investment.

4. The deal addresses unemployment issue, but what really impacts an economy for economic growth is an increase in salary/wages, to encourage consumer spending-giving our aggregate demand the sustainable capacity to purchase locally made goods.(Minimum wage or per capital income -critical aspect to Growth),

5. Does not include the provision for building low income housing across the nation, which creates a positive wealth effect and encourages homeowners to spend more among other positive impacts on our economy. (Capital expenditure dynamics).

6. Does not address the development of the capacity and capability of our economy to increase productivity in the short-term.

7. The resultant impact of the deal, will not devalue the dollar or will it revalue the Naira, certainly not! Yuan, by economic policy design is devalued against the dollar. Also, it’s a certainty that the China economic environment cannot be used as a dumping ground and from statistics 20% of the Nigerian jobs could go over to our Chinese partners in the next seven (7) years, mostly through outsourcing avenues.

8. Most of the remedial clauses of the “China Deal” are long term based plans and strategy. We need more short term remedial solutions; such as how we can get cheaper or subsidized needed manufacturing equipments, tools, knowledge expertise to manufacture these tools and equipments locally-to boost immediate local production. Long term positive impact includes building roads, railway, sea port, airlines–labour productivity (human development), discovery of raw materials (mining), its exploration and its exportation.

9. Does not address the underlining issue/factor of the aggressive cancer of INFLATION

After studying China a bit, understanding they constitute great visionaries who are very proud of their heritage. I studied their political structure (culture, religion and nature of economy), social- economic policies, IT innovations/advancement, the battle of West and East quest for economic supremacy and how it impacts their economy. From the aforementioned evidenced core issues the deal does not translate in the best favour of our dear country Nigeria. In looking for the lowest interest (1.5%) borrowing rate we also must be very critical of the offer presented. I am not so optimistic that a country who is chiefly responsible for our Nation’s 80% trade deficit and imbalance, will be so eager to strengthen our industrial capacity cooperation in the manufacture of cars, household appliances, construction materials, textiles, food processing, and others.

Making our economy the hub for Yuan, clearing and transaction…wow? We have a free trade Zone in the works with China as our major partners and China economic dominance in Africa /Asia is growing? These developments presently do not in anyway affect the Naira value (purchasing power), economy or profiting us more than our partners. Our GDP growth projections are low and are presently at a deficit growth rate. I advice that this “China Deal” clause should be suspended for the time been until our own economy is matured enough (Expansion Cycle) i.e. should be at the Growth Cycle of Economic Boom threshold not Recession.

Conclusion
Economic growth is measured by how much Gross Domestic Product, or GDP, increases from one period to the next. GDP is the combined value of all goods and services produced within a country. This “deal” could have increased the SUPPLY potential with which our resources can be best used that serves the Nation. The “Nigerian Deal” as revised should chiefly focus on rapid transfer of Business/Manufacturing/Agricultural models and technology expertise,– production capacity (from the most needed essential consumer goods to the least needed essentials as indicated from our importation economic leakages data(Great initiative of the establishment of 50 Agricultural Demonstration Farms across the country). In competency- fertiliser local production, Agricultural product quality, storage, bettered organisation, etc should be our focus, Power- green energy (Solar Energy focus-manufacturing the Solar plates in Nigeria).

Nigeria’s economies cure approach should be that of Supply Economic Growth; an economy that has a large market (huge aggregate demand) needs to primary focus on local supply to meet aggregate demand as it meets the masses primary consumer needs. We need short remedial plans to address this.

Finally, the “deal” holistically or dynamically, does not address the internal and external growth aspects of the Nation’s economic growth. Will it give us the “big push”? I am not too optimistic…

blackpanda:
You will soon hear that aribisala is one of the benefactors of dasukigate. The guy always stands for anything negative or that has to do with corruption. Femi Aribisala should be ashamed of himself!

Goke7:
Aribisala is beginning to sound petty, of what relevance is the grammatical blunders of PMB to the issues at hand. Common, this is pure bitterness against the person of PMB.

What remains is for aribisala to call nigeria a zoo so my se brothers can rejoice

pragmatistm:
No. All SMS received is not up to 8. I think there is a fraud taking place.

jara:
You will think that by now, Nigeria will be sick and tired of promises.

What are all these companies doing with all their foreign incomes right now and getting more allocation from our foreign reserves on top.That is double dipping!

Buhari should make them answer to the article I quoted above and let us stop fooling ourselves. Why are big compaanies scrabbling with struggling companies for foreign exchange?

MIPNIG:
Come back brother... In Nigeria you can't be treated like this.

swtdrms:
This is good news for the indigenous manufacturers, its high time everyone think of what he can produce and create employment. Am already thinking in the direction of high quality shoe production. Who's going to be my business partners.

seunmsg:
Very revealing article. I agree with most of the arguments of the author except the issue of importation not being a problem and devaluation not resulting in serious inflation.

The level of importation in Nigeria today is not sustainable considering the inadequate foreign exchange earnings. Again, if we are serious about creating jobs and becoming a major global economic player, we need to reduce our over dependence on importation and stimulate our manufacturing industry. China and India did not become the second and third largest economy by importation, they achieved the feat by manufacturing almost all their local needs and still manufacturing enough for exportation to other countries. He identified exportation as a problem but the fact is, we can't export when we are not even producing enough to meet local needs. We need to discourage importation to stimulate local production.

The argument that devaluation does not cause serious inflation is just weak. The truth is, the real rate of inflation that the people contend with is not really reflected in the inflation figures that the NBS comes up with. When we devalue, the first thing that will go up is the cost of fuel importation and that is what the present administration can't afford. In calculating the inflation rate, NBS takes a lot of items into consideration and so, the real effect of the increase in petroleum products is watered down in the overall rate.
Again, minimum wage of workers has remain the same since 2011 and inflation has risen by over 5%. Adding another 1-2% to the inflation rate as a result of devaluation without increasing workers salary is wickedness.