₦airaland Forum

MrGerald:
Look at them, I can't blame you, just online platform that gave you the gut to call an Igbo man names, as if you can do that in front of even little Igbo boy? just because we found ourselves in the same country with you..unfortunately...

Chest beating in a failed chest beating thread.

Wizprodigy:
It is better than being fooled. 1.8 trillion naira is been derived from export of cassava starch only and yet the state still seek bailout fund to pay common salaries. Please who is deceiving who here.

Is it state money? Isn't it a private enterprise? How do you people think sef? State can only charge taxes on the profit made on the $9M dollars.

Kennydoc:
Interesting!
Though I doubt the possibility of one small company getting as much cassava as can produce 50tons or more of cassava flour per day.

They can't get to produce the max capacity, but they can fulfill 20 tons in a week which gives them 45 weeks to make $9M.




Nigeria is sitting on a goldmine and nobody realizes it. If we can get just 5% of the global starch market we'll be pulling like $3 billion annually.


Global Starch And Derivatives Market To Grow To $77.4 Billion By 2018: BCC Research
July 12, 2013
Additional Reports

Wellesley, Mass., July 12, 2013 –

According to a new technical market research report, STARCHES/GLUCOSE: GLOBAL MARKETS (Report code: FOD037B) from BCC Research (www.bccresearch.com), sales of starches and derivatives were $51.2 billion in 2012. BCC Research expects the market to reach $77.4 billion by 2018, after increasing at a compound annual growth rate (CAGR) of 7.1% between 2012 and 2018.

http://www.bccresearch.com/pressroom/fod/global-starch-derivatives-market-grow-$77.4-billion-2018

Kennydoc:
Even at that, let's assume 1 bag of cassava flour weighs 50kg, just like a bag of rice.
1 ton = 20 bags
20 tons = 400 bags = 1 container
900 containers = 900 x 400 = 360,000 bags

360,000 bags is approximately 1,000 bags everyday including weekends for a whole year.
Please which fictitious company can singlehandedly achieve this feat in Nigeria?

This is a small to medium scale plant for sale with the following capacity

Output capacity:
5 tons/hour, 7 tons/hour, 9 tons/hour, 12 tons/hour, 15 tons/hour, 18 tons/hour, 20 tons/hour, 24 tons/hour

http://www.alibaba.com/product-detail/cassava-flour-processing-machine-with-competitive_60355291819.html?spm=a2700.7724857.29.1.xq26PJ

Do the maths and shine ya eye.

Nigeria is the biggest producer of cassava in the world.

Rank Country Cassava Production (MT)

1 Nigeria 54000000
2 Indonesia 24177372
3 Thailand 29848000
4 Democratic Republic of the Congo 16000000
5 Ghana 14547279
6 Brazil 23044557
7 Angola 10636400
8 Mozambique 10051364
9 Viet Nam 9745545
10 India 8746500
11 Cambodia 7613697
12 United Republic of Tanzania 5462454
13 Uganda 4924560
14 Malawi 4692202
15 China 4560000
16 Cameroon 4287177
17 Sierra Leone 3520000
18 Madagascar 3621309
19 Benin 3295785
20 Rwanda 2716421

Tell me how it is not possible?

loomer:
You wey no ignorant, if truely that kind thing dey happen why the govt dey cry of falling oil price? Why not just concentrate more on the startch export?

Make we stop dey fool ourselves and face reality.

That's why some people are building houses while others are stealing their nails.

Wake the *uck up!

If one processing plant can make $9M dollars. Imagine if we have 100 of such in the southwest?

It only takes about 6 months to set these things up. Our governors are sleeping.

Wizprodigy:
Even $9 million is pure fraud. Cassava starch would even give you that amount in 1 year. Who eats cassava starch when there is wheat flour? Cassava starch and bakers went on strike? Haba, unless they are making it in zimbabwean dollars then.

Don't be ignorant. 1 ton goes for $500 and you have 20 tons in a container. You need to have shipped 900 container loads to make $9M. An easy feat and 900,000 containers to make $9B. An arduous task.

Can't be $9 billion. Probably NGN OR $9M

The same iPod youths egging Tompolo on will now start complaining about nobody shipping containers to ONNE port.

Madness.

kahal29:
Op you must have elementary knowledge of economics. It's a pity most pple talking on this are ignorant on the dynamics of exchange rate.

Do you want to elucidate and puntificate or you think your platitude is worthy of any serious consideration?

Long story short. You yarned nothing. Just empty talk.

Teddeebear:
do you know you are the illiterate

Do you even know the way we are constituted?

HiddenShadow:
The learned illiterate you quoted forgot that Buhari can send a bill on True federalism and encourage his Northern colleagues to join their Southern Colleagues to enthrone true federalism through the law.

Sending the bill guarantees passage? Oponu!

oyinkinola:
...why nigerian don't want to talk bout the looted fund? to what interest do looters to the nation!

Chase looters but don't rely on recovered funds to fix the economy. Not reliable and too time consuming.

naijaking1:
Once again this is where you show your own ignorance.
Exports, natural resources, etc can earn you foreign currency, but guess what, you still need an expert management skill or manpower to make full use of your earnings.
That's why many countries with so-called export, but no good management skills continue to lag behind those countries without tangible oil export. Can you compare Nigeria, Saudi Arabia, Venzuela, and other useless exporters of oil with countries without oil such as India, Germany, Brazil?
The difference is in the expert management of the small resources they have compared to the trillion dollar wasted export?
People with your mindset, limited knowledge of global economy think only about oil, too bad.

Of course we need an expert manager. Okonjo just hasn't proved herself to be one. Aunty Kemi has been working like an accountant and tightening belts, but we need more than that.

We need someone like Kalu Idika Kalu as special adviser on economy to train Buhari on new ways to achieve his protectionist agenda. We need that man like yesterday!

Okonjo is in the pocket of world bank, and I have personal dibs on her. Not stuff for public forums.

naijaking1:
To me, nothing personal.
I will appreciate her expertise whether she is Hausa, Yoruba, or even Ijaw. Unfortunately, a prophet(prophetess) is never known in her own country.

What we need are exports, not Okonjo.

naijaking1:
Buhari is not both, but he can sit his emaciated ass down in Abuja and do some work for once, and sop travelling all over the World while our country burns economically.
He can appoint an expert to run our economy, and not try to inject his semi-illiterate ideas and principles on how the economy is run.

I am not a Buhari defender or APC stooge. He is visionless as far as I am concerned and only seems to be preoccupied with corruption and boko haram. There is more to running a complex country like ours.

He isn't laying out an economic vision backed by concrete reforms and he isn't pressuring NASS to pass laws that will make trade and investments easier. Buhari IMO is a glorified IG of police with commander in chief responsibilities.

I care for my family and not aligned by tribe or political party.

naijaking1:
You are wrong to say Okonjo squandered an opportunity, she was never president of this country, and there are many articles detailing her warnings to both OBJ and GEJ to save for the rainy day. If you remove that hatred-colored eye glass, maybe you can see the truth.

She held the unheard of title of the coordinating minister of the economy. She was in charge.

I used to be enamored with okonjo but her second stint in Nigeria was simply a disaster. She did better when she chased after debt forgiveness under OBJ, but outside of that, she failed the country. Just the truth.


I've met her before sef and went to say hi. So I like her person. But she failed in protecting the country against the inevitable.

HiddenShadow:
Keep deceiving yourself. What stops Buhari from diversifying the economy through true federalism

So buhari is both the legislative and executive arms of the government! Wonderful. LOLZ

Illiterates plenty here.

naijaking1:
Even if you have no basic knowledge of economics as in having the WEAC, your common sense should still tell you to look for people with real knowledge to solve a particular problem.

Economic solutions don't come from retribution, political vengance, and religious idealism, they come from basic economic principles.

Dude. Our problem is very simple, we rely on earnings from a single commodity. When the price goes up, we pop champagne and when it goes down we drink Garri.

Okonjo over saw the highest crude windfall and she squandered the opportunity to diversify our economy. Yet, you want her back to do what? Someone that failed in the time of plenty will now do magic in strife?

Logic needed.

oyinkinola:
[s][/s]

this is the solution:
[b]....there are very many commentary on depreciation of ₦ nowadays expecially in parallel market, although parallel or black market can be manipulated by the traders, they either do it on their self interest, so those who doesn't beleive in the prosperity of nigeria can harbour $ as they can on imported goods hereby cause hike!
But in my own point of view the depreciation of ₦ is a great success to this nation if well manage to nigeria situation today. the looted fund is in $ and it must be refunded back in $, so if $1 is ₦198 when the money is looted, then if the money is refund today at $1 to ₦350 the nation has gained ₦152!
imagine if $1=₦1000, the gain is ₦902!
So in conclusion if the government managed to refund the $trillion looted and the refunded money, change it in parallel market, this will reduce the pressure on ₦ and the scarcity of $ in parallel market so the ₦=$.

(take note all the money took out of CBN during jonathan regime were changed in parallel market before ditributed)

you have other opinion?[/b]

Go begin chase the loot where you hide am. Abacha loot is still hanging in banks after 20 years.

Good luck and God speed.

naijaking1:
Looted in your warped mind.
Go back all the way to Shehu Shagari era to see how badly defective the federal system of government inherited by GEJ has been run, not just the "looted trillions" in GEJ era. You will also see and appreciate how Okonjo-Iweala, no matter how you hate her compares at the top of our money managers since 1970.

Is Okonjo a commodity we can export to help our lopsided balance of trade? You have to demonstrate some knowledge of economics rather than the worship of the cult of Okonjo.

babydoo:
The fastet way to get out of the economic mess is to return to God and stop all the Kidnapping, Bombing, beheading little kids and corruption (emblezzling money) infact the wrath of God is on this country, everything has gone astray.... Time will come when a dollar will be equal to one thousand naira

Lol.

If you like sleep in church from now till 2019. If you don't export goods to raise forex, the relative strength of your currency against majors will continue to fall. Return all your ancestors to God sef, it doesn't matter if we don't diversify our economy as a matter of urgency.

naijaking1:
Managing a national economy is a specialist profession just like surgery. If you have a tumor in your brain, you need the best surgeon for the job, but in Nigeria, people like you want their own person whether he is capable of removing the tumor or not. the result is a certain death or a run away exchange rate never seen in the last 100 years. When will you learn?

What do you think is wrong with the economy? Let's start from there.

loveuGOD:
Sentiment apart
#bringbackokonjo eweala

To do what exactly? Increase the price of crude oil with magic? Lolz.

Like these guys just don't know or understand what is going on across the globe with crude exporting countries. Even mighty Canada, Saudi Arabia and Russia are crying talk less of looted Nigeria.

Siddon there dey wish upon the stars. LOLZ

ipledge10:
You guys are ignorant of what is going on in the world. ..since oil started going down...Saudi Arabia that produce more than what Nigeria produce and with lesser population have sold more than $126billion of her properties...is it Jonathan that drain the country foreign reserve when oil was $110/barrel will be the one to save the country when oil is less than $30/barrel?...you can wail till jesus come

The ignorance is nauseating.

Hopefully most of the people that post here don't have more than secondary school certificates.

oyinkinola:
....but you agree with my theory?

In theory, I agree. We also have money we can make from court cases all over but those are not reliable.

oyinkinola:
[b]....there are very many commentary on depreciation of ₦ nowadays expecially in parallel market, although parallel or black market can be manipulated by the traders, they either do it on their self interest, so those who doesn't beleive in the prosperity of nigeria can harbour $ as they can on imported goods hereby cause hike!
But in my own point of view the depreciation of ₦ is a great success to this nation if well manage to nigeria situation today. the looted fund is in $ and it must be refunded back in $, so if $1 is ₦198 when the money is looted, then if the money is refund today at $1 to ₦350 the nation has gained ₦152!
imagine if $1=₦1000, the gain is ₦902!
So in conclusion if the government managed to refund the $trillion looted and the refunded money, change it in parallel market, this will reduce the pressure on ₦ and the scarcity of $ in parallel market so the ₦=$.

(take note all the money took out of CBN during jonathan regime were changed in parallel market before ditributed)

you have other opinion?[/b]

When you put in perspective that Abacha died twenty years ago and we are yet to recover half of what he stole, you'll realize that loot recovery is not a reliable strategy to fix the economy.

Weblow:
Since america feels the dont need naira because we have nothing to offer, why wil govment not focus on other countries. Like india rusia china etc

This is a joke. What do we have to sell? Answer is crude.

Other countries have more of it than us and are currently bombarding the aforementioned countries with cheap crude which makes price low for everybody. Now factor. The reduce demand for oil due to the warm winter and also the slow down in China's economy. The only country buying a considerable amount of our oil is India.

You guys need to read other sections of the paper.

Government should sell its share of oil assets to raise necessary forex. Period. It was previously valued at $70 billion at some point when the Chinese had interest in buying, but that valuation would have crashed to almost half or 40% as of today for obvious market reasons.

Folks, there is no magic wand anybody can wave to fix the economy. You live by crude oil and you'll die by crude oil. Period. My only fear is, we will use all the forex earned to import cheap goods from China and we'll be back to square one.

Export substitution is a very long term goal and we as a country are simply not ready and I don't see a sense of urgency in pushing radical reforms through by both the government and us the citizens. We have nothing to immediately export that will replace the foreign exchange we earn from crude oil and we've been dumb enough to keep our refineries moribund for years. At least we could have been exporting PMS, Jet fuel, Kerosene etc which still has margins as high as 45%! Don't get it wrong, all countries that export crude, including diversified economies like Russia and Canada are feeling the pinch, but they are still in better condition compared to Nigeria. Folks, it could be worse, just look at Venezuela where the economy has totalky collapsed. It's the crude curse!

Every government we've had since we discovered crude is at fault. We watched all our nascent industries dry up and everyone became an oil and gas merchant overnight, either by importing refined fuel and round tripping or exchanging crude for refined oil. Bottom line, lazy governments with no vision begat useless and feckless economies with no support structure. You rip what you sow.

It's not solely a Buhari issue, it's Jonathan, OBJ, Abubakir, Abacha, Babangida, Buhari, Shagari, Muritala, and Gowon issue. Last time we experienced real growth was 1966, when we had regional governments. But all that is gone for good now. And we have to suffer and pick up the pieces.

So sorry folks, no good news or magic bullet. If we don't earn forex from selling our assets, then we better start exporting illegal drugs such as cocaine to bring in the dollars (joke). Export substitution with no power, no good infrastructure and abundance of major insecurity in key regions means we will not be able to compete where it really matters. Producing finished goods.

Welcome to suffersuffer land.

Eya. Kpele or ndo.

E go better.

So unity campaign with our igbo brothers?

The Ooni of Ife, Oba Enitan Adeyeye Ogunwusi has emerged as the youngest chancellor in Nigeria with the appointment of the monarch as the chancellor, University of Nigeria, Nsukka by President Mohammadu Buhari.

In a statement issued by Yera Moses Olafare, the director of media, Ooni’s palace, copies of which were obtained by newsmen in Ibadan Thursday, President Mohammadu Buhari was commended for recognising Ooni’s efforts to promote unity among Nigerians.

The statement said ” Ile Oodua is thankful to the people’s President Mohammadu Buhari of the
Federal Republic of Nigeria for the appointment of Ooni, Oba Enitan Adeyeye Ogunwusi, as the chancellor, University of Nigeria, Nsukka, UNN” , saying the development would further enable the monarch to build more bridges of friendship especially across the Niger.

The statement further noted that Oba Ogunwusi was ready to bring to bear, his influence and connections to promote unity and harmonious working relationships in the university.

The palace also admonished Nigerians to promote only issues that can foster unity to ensure speedy development rather than playing up their differences.



The statements reads: “It is incontrovertible today that Ooni Ogunwusi is a bridge builder and being the youngest chancellor appointed for the only university bearing “Nigeria” is worth the celebration.

“His appointment as chancellor, University Of Nigeria, Nsuka is considered as a positive sign that can further enhance peaceful coexistence of our dear nation as it was clearly stated in the letter of appointment written
and signed by Honorable Minister of Education, Alhaji Adamu Adamu on behalf of Mr President that Kabiyesi’ appointment is based on his wealth of experience and his capacity to manage men and resources which he has demonstrated in the administration of his Kingdom in the last three months.”


http://thenationonlineng.net/ooni-named-unn-chancellor/