₦airaland Forum

plaetton:
You don't cut your nose to spite your face.

The ability of banks to create credit is extremely vital to economic growth.
Look at how the Bank of Japan, the European Central Bank, the US Federal Reserve, Bank of England, etc, etc, pump unlimited liquidity into their banking systems on a monthly basis to stimulate economic growth.

Pulling N3tr from the banking system at period of economic weakness was nothing but suiciding the economy to fight corruption.

It's like applying a jackhammer to your Scrotum to fight off a pesky fly.
At the end of the day, both the fly and your Family Jewels are history.

That's not very smart at all.

MadamExcellency:
If you care to note, two of my husband's friends that worked in Engineering Department in one multinational firm in Nigeria that were recently disengaged just opened a Nail factory in Imo State. I saw them in the market distributing their products. They are now employers of Labour

That is just one example, I have innumerable examples of technology transfer operational in Eastern Nigeria today.

MadamExcellency:
We have more indigenous oil companies than IOC hence why not?

MTN - System programming, network synchronization, data technology etc. have already been transferred.

The IPOB guy that is charged to court with Nnamdi Kalu works for Ericsson in-charge of MTN, GLO Network Engineering hence he was able to setup the hidden transmitters, expanded the coverage area and sustained it until he was arrested. Is it not technology/technical-know-how transfer?

Technology transfer is real.

shadeyinka:
Whenever our country dealnwith foreign investors, they think short term only. Technologically, what has Nigeria learnt from Shell or Mobil? Nothing!

shadeyinka:
Do you know that the average cost of yam from the farmer is between N60 and N90 per tuber. By the time it passes through the hands of the middlemen it is already N200-N600 per tuber.

The point is that the government is not protecting the farmers that is why most young men will not want to be farmers.

plaetton:
That measure is usually taken when inflation is caused by an overheating economy.
What we have now is the opposite, a comatose economy, where there is actually very little money floating in the system.

What we have right now is a rare case of STAGFLATION, inflation in a stagnant economic environment.

My opinion is that this STAGFLATION was caused or at the least, exacerbated by the wrong headed TSA implementation.
Therefore, any additional Moping of liquidity in this economy would make Venezuela look like a paradise.

plaetton:
That measure is usually taken when inflation is caused by an overheating economy.
What we have now is the opposite, a comatose economy, where there is actually very little money floating in the system.

What we have right now is a rare case of STAGFLATION, inflation in a stagnant economic environment.

My opinion is that this STAGFLATION was caused or at the least, exacerbated by the wrong headed TSA implementation.
Therefore, any additional Moping of liquidity in this economy would make Venezuela look like a paradise.

shadeyinka:
Buhari did not cause the problem on ground. The problems has been a cumulative of successive mismanagement previous government over the period of our existence as a country.

nabiz:
For our naira to improve, we need to increase exportation and reduce importation. To achieve this, i think th federal government should build a production friendly environment.

The unit cost of production in nigeria is higher than average in the world and as a result our prduct may hardly compete other product in the international market in terms of cosst and qaulity which in long ruin affect export which improve our currency

To build a production friendly environment, government should improve power output, and other infrastructure

MadamExcellency:
No matter whatever means we get it, No company ever employs 100% foreigners, learning on the job is also technology transfer.

Have you ever heard of re-engineering?

When you dismantle gadgets, study them and think of a way of making it better helps.

It's actually reverse engineering not re-engineering, that is stealing like the man you quoted stated, no sane person in the world transfers his technology, it has never happened.
Again even if you work for a foreign company, the trade secret is with R& and most foreign companies in Nigeria have their R& offshore, so you as an employer is an instrument of implementing solutions, but where the solution came from will elude you even if you serve the company for 50yrs.
Coca cola has bottling companies littered everywhere, who has the concentration formula of coca-cola even in those bottling companies?
Again you have the issue of Patent to contend with while considering Technology transfer. It is not really a piece of cake. When you get the technology, you have the issue of raw materials to deal with, let me give you a few global examples.

Till the US sanctioned Russia few years ago, all the rocket engines utilized in the US are all Russia made, the mighty US? can you beat that?
The silicon Valley of the US is depending on 80% chinese raw materials surprised huh!!
Adolf hitler got the E=MC2 formula before the US but guess who made the first Nuclear bomb? US because Germany had no access to plutonium even though he has the technology to enrish one, you see my friend, even the countries you are looking up to are actually looking up to each other, the real world doesn't run on the personal feelings of most Nigerians.

1. Technology transfer

2. Modernization

3. Provision of Employment

How

4. Risk sharing (Joint venture partnerships)

5. Bringing out the best potential out of our Local Industries that are bound to be part of their supply chains thereby exposing them to modern challenges and bringing out the best in them.

donbenedict:
how abt we sack all incompetent heads of parastatals... emefiele cannot come out and say he has done d best he can do when actually he has done the worst. I want to wake up on a very fine day and get to the newspaper stand, take up a punch news paper that reads,


Godwin Emefiele has been sacked by the President.


It's really gona make my day awesome

shadeyinka:
The government actually has to directly work out our non existent industrial base.

spartan50:
You haven't answered my question. You are beating around the bush. What has OPEC got to do with this? Am talking about poor decisions since your lord came on board. You are immature in your arguments. Your mentality is restarted as you are. I can see the economy is really dealing with you and hungry family. You are insultive and you are very hungry! May God elevate you and your poor mentality from slavery.

shadeyinka:
Have you ever wondered why the richest men in Nigeria do not have either a farm, a factory or even an office! They are POLITICIANS!

MadamExcellency:
He needs a new cabinet (ministers), advisers and kitchen cabinet with focus on returning Nigeria to path of growth. For instance, read the excerpts below



The rich (no matter how they made their money) are hiding the cash and are no longer willing to invest in whatever venture for the fear that Buhari will either confiscate the cash or run them down. I want Buhari to apply wisdom when dealing with business community and investors. This is not a time to scare away investors, employers and entrepreneurs.

I want him to suspend public show of fight against corruption and do it more intelligently and underground until our economy recovers.

If it's possible, Buhari should give conditional amnesty to treasury looters (though this sounds absurd) to invest their loot in Nigeria within a specific time frame and this should be done in conjunction with NASS for a legal backing.

We need to put back Nigerians to doing something reasonable with their lives (decent jobs) to earn a decent wage.

If care is not taken, what post elections civil war couldn't do because of peaceful transition of political power in Nigeria may still be done by frustration, hunger and starvation - death, death and more death.

donbenedict:
central bank should mop up excess naira chasing few goods!

basilo101:
mr OP, so why does the current administration waste money looking for oil in NE, and why did their propaganda ministry get more fund than agric ministry??

DickDastardly:
Yea ... we know.... excuses for the dulllard is normal ... but tell the skinny granny to sit up

spartan50:
kikikikikikikikiki! You still don't get it. We warned people like you then. I read his entire history, the man has nothing to offer. You were jilted on the promise of change. The whole chibok girl is a fraud. The economy is trash now cos he is too dull to understand it. May God forgive you! We would throw him out and put the right person come 2019! My children must have a better Nigeria.

spartan50:
Bros I dey greet you ooo.. I told you then.... Enjoy your chains!

lanicky:
Well, I think I'm entitled to my opinion. We don't use the same lens so I don't expect you to see the world the way I see it.
How will my feelings add more money to their pocket? Who cares if their children attends the best universities outside Nigeria? I don't give a fvck about them or how they live their life.
Despite the unfavorable economy, I applied various economics principle to go for my need not my want... Nd WE (me Nd my family) have been thriving a Lil.
But how many people have been able to survive the unfavorable economy..
Masses are dying.. And I feel for them, cos I've got blood running through my veins. So I don't have to sound diplomatic all the time because I'm an economics student.


Off course I believed APC was an Islamic party due to some obvious reasons back then.. But at the long run I was convinced they are just some set of confused peeps.. Led by the Lord of the flies. Same as some other parties in Nigeria. They all have one goal.. *embzling money...corruption of the highest order*

I know PDD ain't worth the sweat.. But during their reign, things were not as bad as these.

I reapeat how long will it take them to change Nigeria to a better country? Is it until we lost all the blood in our nails?

Okay... I hope to experience a positive change soon under buhari's regime.

eshietIntrepid:
I stand with PDP in this. Let change this change

eshietIntrepid:
I stand with PDP in this. Let change this change

tsdarkside:
i beg your pardon.....??....the chad basin is more secure than the delta for now...

our warriors have to first learn swimming first to force you to reason??.. ...abegi!!!...keep your creeks!!!...africa is gigantic with many resources!!!....