₦airaland Forum

[quote author=alj_harem link=topic=791289.msg9432906#msg9432906 date=1319754409]Point B, I think you are clueless to what you are talking about

1. Yes the FG fund private companies and banks. In fact mAJORITY of the new generation banks are given money by the Government provided they provide jobs to Nigerian.

2. These same companies are already saturated with workers but still they employ workers to satisfy the government. Ie back to what I AM SAYING there are not "concrete jobs" for the youths.

Currently the banking sector is the highest employees of Youths ranging from those that got a 3rd class in PHE or drama to those that did not even pass through Uni but have connection ie transferable skills.

The government is clueless on how to leave this quagmire, that is why they still pay each bank billions of Naira each year for this.

The solution igbo2011 and I propose is one of the solutions the government can use to provide concrete jobs for people.[/quote]Yes concrete jobs as in engineers, scientists, farmers, those people PRODUCE.  We need people to produce from IGR, GDP, forex, and jobs.  We cannot import everything.  Those engineers can design great cars for Innoson.  If there are bad engineers then hire a foreigner for 2 years and have the youth learn under him/her so they can get better.  When that person leaves then the apprentices can do it their selves.  Same for scientists, faarmers, etc.

PointB:
@Igbo2011
i followed the meltdown and i know what Ford and other Detroit auto guys passed through before they could get the 'bailout' believe me it wasn't easy. Obama spent some political capita to even see it through. As for innoson, i am also very interested in their progress. But one poster did ask a very important question once? Why is the south east governor not patronizing them among others. I very much doubt if innson need very huge capital outlay by the government as much as they need patronage. Besides government how about individuals? Have u made enquiry about their products and or services? Have u tried buying anything from innoson or done any marketing for them?

Beyond innoson, do you personally buy Nigeria? Lets for once focus on what we can do as everything is not government.

I agree with you 100%.  I am not buying american .european clothes alnymore.  I want my closet to be Nigerian clothes.  This will help the tailors gain money.  With more demand comes more people joining the industry.  Then more compettiton then lesser price.  

Governor Chime bought Innoson buses for his state of Enugu.  All nigerian governors need to do the same thing.  I really want to work for their marketing team though.  I have expeirence marketing and I think that I can help them a lot. If you have connections to anybody who works with them, let me know.

PointB:
@Igbo2011,
lets be realistic in our expections and criticism. Outside subsidy, government is not in the business of funding private company. The banks are responsible for that at the own risk and premium. Besides, if it we so easy to throw money at companies and produce good result, the likes of oceanic, intercontinental, etc banks will not be having problems. Governance, policy making and economics planning is also not exact science. If in doubt ask Greece, Spain, Italy, and co. Yesterday's fantastic ideas, have turned to disasters today. Getting it right requires serious balancing act. So sir, i don't think urn idea can stand the test of time. It sounds like communism!

It isn't communism it is corporate welfare.  
https://www.youtube.com/watch?v=HlNi9q-p1l4

After America helped FOrd, now Ford is getting back on it's feet.  If ford wasn't helped then thousands of jobs would have been lost and it would hurt America's economy even more.

Alexander Hamilton coined the term "infant industry" look it up.  America supported Boeing (airplane manufacturing company) and now they are the best airplane company in the world.  They also help America make military planes. http://www.boeing.com/bds/military_aircraft/index.html

They need to support Innoson and maybe Innoson can make military cars. Innoson has to compete with international car companies that are top of the line.  It needs to be protected like a baby for a bit because companies like Innoson will give many Nigerians jobs.  Read this book: http://www.amazon.com/Bad-Samaritans-Secret-History-Capitalism/dp/1596913991  I am reading it right now and it is amazing.  It talks about many things about economics.  ALlo how rich countries got rich.  Mainly due to protectionism.

Sorry for the rant, I am passionate about economics.

[quote author=alj_harem link=topic=791289.msg9432768#msg9432768 date=1319752761]Rightly said

when I was posting Innoson cars, building of refineries etc on NL they thought i was mad as usual

These are the industries that can provide concrete Jobs for the youths of Nigeria. Not some 50 Billion website where they apply for jobs like a lottery.

SMH for Nigeria for lack of foresight.[/quote]We need to create a ministry of jobs together. You and me have the right ideas. Refinery, agriculture, factories, laboratories. Those will all create economic development and jobs. The politicians get paid way too much. There needs to be a law that makes all politicans work for 0 naira. They also cannot get additional giifts. They only get food and security.

paniki:
Please re-write your post in Swahili or Hausa. Truth is that most African and world languages are not scientific. Modern science is full of Greek and Latin words which have now become mainstream English. Even a simple word such as 'compute' is Greek. Now tell me what is 'compute' or 'computer' in Hausa.

I don't know what computer is but maybe some Emirs can create new words for the modern age. Maybe if there is a hausa word for math and machine then they can use that word. But I know what you mean though. But is there computer in Chinese or Arabic? Did somebody make up Chinese characters for computer?

This is amazing we need more like this. But we need to get Nigerian firms to build so we can give Nigerians jobs.

Not yet the submissions are due soon. Reno updates his twitte r and facebook about the youwin scheme: http://twitter.com/#!/renoomokri

But I think the program is stupid. They should just use that money to give to African manufacturers and science companies so they can upgrade. Ths will create more jobs with more engineers, scientists, assemblers, mrketers, sales, business, etc. They can inject money to the tourism sector so they can buy more planes that go to China because they have more money to spend now. It honestly isn't that hard. Companies like Innoson can bring thousands of jobs. Also the sports industry and agriculture are not yet exploloited yet.

Maybe they can use that money to support 1 million farmers so they can get more money. Did you know that if America didn't subsidize their farmers then 57$ of them would be losing money. We should subsidize ours. We should build farm schools with the best farmers in the world to teach Nigerians to farm. I wish I could be president for 1 term.

Ameachi? Chime? Imoke? Okonjo-Iweala? Ezekwesili? Who would be the leader?

Useless politicians. We need to dissolve the government less politicians they are too useless.

[quote author=Akanbi_edu link=topic=791250.msg9432148#msg9432148 date=1319745496]I voted Buhari, guess this question is not for me then.

BTW, we are still building our country and we are all in a learning process. There may be too much sentiment now but with time, we outgrow those things. Rome was not built in a day.[/quote]How long will it take? We have been waiting for 12 years in this democracy and 51 years since independence. How long will it take? It will never happen unless the people rise up.

Gaddafi was trying to unite Africa with the African Dinar, African Monetary Fund, and the African Central Bank.

Louis Farrahkan was talking about it:
https://www.youtube.com/watch?v=vu2KJNIIg2c&feature=mfu_in_order&list=UL

If all of the countries in Africa were united, what language would we use?

I think we should use Swahili or Hausa.

If he is not dead then where is he?

Goodluck won pretty much all of the igbo votes. Why did us Igbos vote for this idiot? I don't care if he is from around our area. This man is an idiot. He is a disgrace to Nigerians around the world. He talks a lot and does little. He goes to Australia and makes Nigerians look like idiots. Missing meetings and what not. He wants Australians to invest in a country that has no infrastructure. How can a company set up a factory in Nigeria with diesel fuel, bad roads, and he has to pay an official bribe a lot. He wastes a lot of money touring around the world to talk about what he will do instead of doing it.

Buhari or Ribadu would have been better leaders than this idiot. They would work for their people. They would fix the infrastrucutre first then ask for investments. I know some people who want to set up factories in Nigeria but the infrastructure and security are holding them back. There are many youths who are unemployed, there are many sectors that they can go into but the government is busy setting up a youwin bullshit initiative. Instead of wasting bilions of naira on that program, they should use that money to give to private companies so they can hire more scientists, engineers, factory workers, and build more factories and labs. The best economies have the best engineers and scientists.

So why did you vote for him? What was your reason? If you did not vote for him, who did you vote for and why?

We need Adebayor to play for Nigeria.

This money needs to be invested in Nigerian projects not foreign ones. Into power plants or roads from ports so we can generate IGR, jobs, and export revenue. This SWF better not mess up.

Where are the books coming from? They should get books f rom Nigerian publishers

[quote author=Beaf! link=topic=789821.msg9421594#msg9421594 date=1319627698]Unless the bolded is tackled we will perpetually remained in darkness in Naija. What annoys me must is that the people in the position to stop that are the culprits.

I learnt that the Emir of Kano has upto 40% shares with MIKANO Generators. Now tell me if this heediot will ever want a stable power in Nigeria.[/quote]We neeed to ocupy Nigeria until they stop doing this bull. Instead of invest in generators to benefit themselves, they should invest in power plants to benefit everybody AND theirselves. This is so frustrating about Nigeria. Liba has more power than us with only 6 million people.

HNosegbe:
Track record, please? How many gas plants have these "Sparkle" guys built?

They are a start up company.

Watch this:
https://www.youtube.com/watch?v=T6ITC5IL2Mw

Good leaders die like Sankara, Lumumba or Allende. Look them up.

WHat if they use the money to invest in an American company and it fails? If they invest then it should be in Nigeria.

4000 Mw Gas Plant To Be Built In Nigeria

By Chika Amanze-Nwachuku

Federal government’s bid to ensure regular power supply has received a boost as Sparkle Energy has said it planned  to build a $10 billion 4000 Gas-fired Power Plant called Sparkle Power Plant, which is to become the largest gas-fired power plant in Nigeria.
Making the disclosure in a document made available to THISDAY, Groot Property Group Ltd said it floated the firm (Sparkle Energy) in partnership with some prominent Nigerian entrepreneurs and scholars based in the United States,  and a Nigerian consortium for the development of the power project. The company said the project, with a construction budget of $10 billion was designed to sufficiently power up to 5 million homes in Nigeria.

Nigeria, with a population of about 155 million produces more than 22 billion of KWh and consumes more than 20 billion KWh, with a surplus of about 2 billion KWh of electricity, the company said.

The Chief Executive Officer of Sparkle Energy, Julius Gbayange, said:  "Every well-meaning Nigerian understands the importance of clean, safe and constant power supply. This is the core of the development of our nation's economy because it addresses the question of industrialisation and the current high rate of unemployment. And we are glad that under this oriented Groot Property Group's technical mentorship and planning management, this power project is going to help rid Nigeria this illness. This is a new dawn for Nigeria.”
The consortium also seeks to form a partnership with the federal government of Nigeria for the development and realisation of Sparkle Power Plant.

"Obviously, Groot Property Group (Pty) Ltd will only hold 15percent stake in Sparkle Energy Ltd, while the Nigerian consortium will hold 37percent and 25percent stake is reserved for the Nigerian Central Government, while the difference of 23percent will be reserved for our future investors and partners. So, this is a development project by the Nigerians for the Nigerians and for the Government of Nigeria”, Chief Economist and VP Development Operations of Groot Property Group (Pty) Ltd, Simon Kapenda  said.

"By 2016, Nigeria will become Africa's largest economy surpassing South Africa. However, Nigeria's industrial development lags far behind of South Africa, due to the country's infrastructure maintenance and management. And until Nigeria fixes some of these issues, South Africa will always be the leading and powerful economy in Africa due to its massive industrialisation and well-maintained infrastructure", he added.

Sparkle Energy Ltd also seeks to help repair and fix the current electricity infrastructure in Nigeria. The company said preliminary research revealed that in Nigeria, there might be certain people who constantly sabotage purposely the country's electricity power lines in order to help increase the sale of personal electricity generators in the country.

Said Kapenda:  "There are currently laws in place against the sabotaging of power lines by anyone but these laws have little or are not entirely enforced. What we hope to do is to ask the Central Government to look into this senseless act of vandalism, which is only pushing down the vast development of our country's economy.”

Under the agreement, the government is expected to finance the start-up costs for the predevelopment of Sparkle Power Plant, which is $50 million. Then, with the guarantee of the government and Offtake Agreements in place, the company said it expected to raise the needed $10 billion to fund the project through a combination of debt and equity through a network of Development Finance Institutions (DFIs) with a mandate to fund projects in developing countries.

The DFIs include DFIs include Industrial Development Corporation of South Africa Limited, Development Bank of Southern Africa Limited, IFC and African Development Bank, as well as certain export credit agencies like the Export Credit Insurance Corporation of South Africa (Pty) Ltd (ECIC) and export facilitation banks like the Export-Import Bank of China and other commercial banks.

The preliminary development for Sparkle Power Plant is expected to be completed by mid-December 2011. Thereafter, the company expects to select the EPCM Contractor for the engineering, procurement and construction management (EPCM) of Sparkle Power Plant. The technical, engineering and construction is expected to start in mid 2012 and to make Sparkle Power Plant ready for commercial operation by the end of 2016.

http://www.thisdaylive.com/articles/firm-to-build-4000mw-power-plant/101292/

What do you think about this?  White elephant or will it help the people?  It is supposed to be finished by 2016 which is a long way away,

noblezone:
who is going to protest against who?

Go to the offices and see what Nigerians to their country.

How much time will it take? Some governors are doing their job but the President can be doing a lot better.

They are also building one in Onitsha: http://www.globim.com/onitsha.html

Beaf:
Those sentences are really pushing me to anger. I could burn down that phucking judge.
This is the reason Nigeria never progresses. Can you imagine? Boys have learnt to refine crude and instead of bringing them into the fold, some judge locks them up?

It might takes whatever it takes, but we must harness the technology these boys have been jailed for developing.

Bloody fuckry! 90 years indeed!

Very true those boys should be used to set up a legal refinery and fix those legal ones up THey can also teach other people who to refine, this will help the economy.

https://www.youtube.com/watch?v=UlNbOliyehY

^^The video is very good, it talks about how the economy will be affected by the fuel subsidies. What do you think about it?

ak47mann:
mean while corrupt governors and senators are walking free sad country

Very true :/

What political system would we put if we overthrew this one? Would Buhari be the president?

jusRadical:
So the USA told gaddafi to rule his people with iron fist and answer 'king of kings' which even lucifer is afraid to answer? So the USA is also telling the government at all levels in Nigeria to be foolish, silly, useless and push the masses to the wall. If by tomorrow Nigerians start violent demonstrations against our political elite, you will start blaming the USA. Think my friend!

Don't be surprised, watch this video:
https://www.youtube.com/watch?v=oARBdBtGenM

Agriculture is going to be very big IMO.  Many unemployed youth might start doing agriculture becasue everyone needs to eat.  We import to much food and we have so much arable land. If we can subsidize farmers then more people will become farmers. They will help with local consumption and also consumption around the world.

Tourism is going to be big because they are building a Six Flags in Tinapa and they are building a nice museum in Badagry. http://allafrica.com/stories/200909210614.html
http://www.ngrguardiannews.com/friday_review/article01//indexn2_html?pdate=210809&ptitle=Slave%20Route%20project%20reunites%20Jacksons%20with%20their%20Badagry%20root

Also, once power gets better, textiles and manufacturing sector will get better. The factories in Nigeria will be more efficient and produce more bring more GDP and forex. many factories have moved to Ghana, but theyy might move back if the power situation is better.

Entertainment is also going to be bigger.  Nollywood is alright not but once it gets a big investment to make huge movies with the best actors/actresses then it will be huge.  Sports may get bigger and bigger as well. There is a big market for soccer, too many people watch English football instead of Nigerian. So if there are better players then it can get better.

Which industires do you think will boom in Nigeria over the next 5 years?

[quote author=Godman_n link=topic=769247.msg9285489#msg9285489 date=1317888342]You do not join by mouth. You join by being serious.

You aren't growing anything. Forget the lies. Look around your streets and villages and see if there are any evidence of growth.

You are dumb to believe lying Aso-Rock. We have heard those stories for ages.

Open your eyes dear.

First thing first. Get the right leadership.[/quote]If you go to Brazil, India, or China and go outside of their cities you will see people who are VERY poor. They are emerging markets for a reason. Most countries of this world are developing not everyone can live like Americans.


You are right, the correct leadeership is the fundamental thing to join BRICS.

]

MandingoII:
B. i. t. c. h. es are still talking about being 2nd class citizens in the 1960's

Get over it already. there were NO WOMEN'S RIGHTS back then.

you bum beyotches kill me with this old untimely a. rse argument.

There was a women's right.s in the 1960's it is called the 2nd wave feminst movement in America. It was so women wanted to be more independent.

Somalia tries to get a stable government but it keeps on getting overthrown for some reason. Why??