₦airaland Forum

TheFreeOne:
No offense but I assume you must be a kid in 1983 or probably not born then cos only such people or the gullible believed Buhari is the messiah needed in a present day Nigeria.

1983 was a consequence of overspending by the military and shagari 's overspending and corruption.
The damage had already been done .
Buhari came in to do firefighting . Just like today.
You did not have the forex to import milk . Just like today you do not have the forex to afford what you want ?
Like I said , milk is not an essential. At least not in Nigeria.
What is essential is medicine and some other food .
Those crying out for dollars simply want to continue the bad behaviour
Blaming oil prices is just silly excuse . You simply have a country not living within her means

DeAfricana:
i think the writers a trying to make us believe that dolar scarcity, is good for our
economy but, the truth of matter is, the other way round.first
we dont have the factories, that can service ordinary
one tenth of our needs,and to solve that we needs more dolars for equipments
and other things.many of all this people you see going to other city to buy goods,
is not that those citys, are industrialized,the are just going to people who still have old stocks,
and when that finishes, the will have no choice than to start importing .and inflation we be the order
of the day

We do not have factories, Abi ?
Build them then

Yielding the desired result

J

Kenai:
Stop aimlessly digging, boy; you're in a hole already.
Your first post smacked of spine-chilling ignorance because it showed you know absolutely nothing about the issue you seek to discuss.
Your revisionism has already met a brickwall because we're not all fools here, and we weren't all born yesterday.
Should you, however, decide to limit your baseless revisionist babble to the other "Sai Baba" howlers, I will not begrudge you, for I never thought better of their reasoning capacity anyway.

In 1983, Buhari's myopic policies led to massive job cuts, particularly in the manufacturing sector due to the lack of raw materials as well as unfavorable business climate. Mind you, during this period, he was still busy chasing rats and jailing his opponents on trumped up charges - the Ambrose Allis, Sam Mbakwes, Tai Solarins, Alex Ekwuemes, Aper Akus, etc.

His ill-thought EssenCo had people queuing up to buy basic food, milk, sugar, toiletries, etc. like they were in Nazi Concentration camps, and you try to justify that nonsense.
Better ask the people who experienced that mess and stop trying to rationalize retrogression simply because of your partisan sentiments.

You still do not get it .
you have not answered my question .
Will Nigerians die without milk ?
You have millions of cattle yet you cannot produce milks.
You have gas yet cannot provide electricity
You have rivers but cannot provide water
You have crude oil yet import petrol
You have thousands of cobblers yet import most of your shoes.
You have tens of thousands of tailors yet you import Tokunbo bras and pants.
If the businesses who need raw material that can be sourced locally cannot do so , they deserve to die .

obasiken:
In 1983, people had to line up to buy a tin of milk. Go and ask your father. This policy is an ancient policy or you now know better than 2 former CBN governors sanusi and soludo who have come out to say the same thing.

And not drinking milk will kill you?
You guys are still not getting it .
Many opportunities are looking to check out with what remains of Nigeria foreign exchange .
The smart money ( those who decieved you and rig oil prices ) checked out when you were at the top of your boom. They don't pay $1 million salaries to gifted mathematicians for nothing.
The $29 billion will not even last 6 month at the rate .
When it runs out , what are you going to do ?
Ask Buhari to manufacture it .

NOTHING I WANT MORE THAN FOR CRUDE OIL PRICES TO FALL MORE AND MORE .
This is the best thing to shock the country out of uselessness. And if people refuse to change , let them continue to suffer.
It will also be good for the Niger delta

At this present moment , I believe that the true value of the naira is closer to N5000 if you discount oil.
Basically means that Nigeria does not export anything , does not make anything and will forever remain dysfunctional until the bitter medicine is applied
Restricting dollars does work . It did work in 1983 .
It means that individuals and companies whose business are built on importation and dumping of basic items will suffer and possibly collapse .
It also means that potential local alternatives will grow out of the ashes .
I cannot forget how South Korea used Nigeria to experiment and dump those paper Daewoo experio cars .we allowed them . Countries come and dump in Nigeria without restrictions while they put all sorts of restrictions on Nigerian agricultural produce.

Nigerians want to buy what they cannot afford .
What has changed between 1983 and now is the taste for excessive luxury.
What has never worked in Nigeria is the devaluation.
Every devaluation in a Nigeria has always led increase in poverty while the looting elites later bring back a little bit of their looted dollars to buy government properties for cheap.
To show you how the useless Nigerian economy behaves, tomatoes , onions and beef sellers have increased their prices because of the devaluation of naira.
When exactly did dollars become the Nigerian currency.
None of the inputs into the production of these two goods has suffered a corresponding increase in price.
What you have there is an economy that simply does not work . For a few years under Obj , it felt like Nigeria was about to build a truly middle class led economy . That dream was blown away by Yar Adua and Jonathan
This is why I support the dismantling of the current system of excessive importation which I hope will be followed up by the dismantling of the informal sector as shown by the behaviour of these tomatoes seller.
This crisis remains an opportunity. Let the elites cry and starve for the dollars .
This crisis present and opportunity to change the way Nigeria works .
A Nigerian value chain can be built without much effort . If your drink factory need orange concentrate , source it locally . Mango is wasting away in Benue , tomotoes is rotting away in the north .
Talking about priorities,
Ondo was building useless conference centres when it should be building Cocoa plantations . Cross river was building Tinapa instead of palm oil , Akwa ibom was building stadium instead of pineapples and coconut , Osun building airport instead of plantain.
Do they know that they can build an entire value chain on what they have ? From chocolate to soap , cosmetics ,detergent,lubricants, medicine etc

Sanusi cannot claim innocence here.
He was CBN governor long too long ago.He was part of the crew who used their positions to feed the monster's appetite for dollars.

All the dollars will immediately fly out.
The 1.3 trillion naira Jonathan printed abnd shared during the elections is looking for tickets

Confab ko .......
Stick the report up your a**

Dollars will keep falling until you and everybody change behaviour .
Greece mack 7


1 free and easy dollars from the EU ( in our case high oil prices)
2 went on a spending and spending binge
3 stopped producing or manufacturing anything
4 stopped growing stuffs
5 import everything
6 dollarised or eurorised the economy
7 payed little or no taxes
8 corruption rules
9 business Elites and political opportunist park their money overseas
10 materialism reigns supreme.
11 crisis comes
12 the dysfuntional economy is brutally exposed
13 no savings
14 citizens do not want to change behaviour
15 it is everyone's fault but theirs.
16 the elites and the wrong types of foreign investors are looking cheap government dollars to remove out of the economy , divest and run .

Buhari should maintain the course or else we will be back here in 6 month when the forex reserves runs out .

If and when Nigeria is restructured or dismembered , you can have your Jonathan

Let it fall
Let it fall
Develop people and not oil wells .
Go back to the farm.
Be a Maker
Export or die
Stop being the bitchhhh of other countries

No need for economic advisers , they all quack like ducks.
No be cramming dem take pass waec.
Brainwashed ivy educated fools and buffoons who learnt only how to quash $1000 champagne.
Never thinking out of the box.
If you asked me , I wished the that the Nigerian oil production to goes to zero .
No be free dollars wey dem they see carry go by $55 million private jet.
What Buhari needs are engineering advisors.


THIS MAN SHOULD STOP WASTING OUR TIME ON TWITTER , IF HE WANTS TO HELP , SEND A REVOLUTIONARY BILL TO THE NATIONAL ASSEMBLY TO GET RID OF THE ENTIRE CIVIL SERVICE


Below

A Kano shoe factory gathering dust
The carcass of kaduna textile limited

Just a few pictures I can find . You will find the same all over the country.

Let's put it this way.

Like the drunkard

Nigerians want to spend $60 billion buying mostly non essential goods that can be produced locally .

Nigerian only make a forex income of $22 billion .
But to buy those goods , you need $$$$$$$$$$$$$$$$$$$$$$.
Beyond Seme border no one cares about naira.
The only way to get $$$$$$$$$$$$$ is to sell your products to other countries.
Nigeria sells almost nothing.



It is difficult for a drunk to shake off her habit .

See of elected officials are fighting for their constituency. Some will fighting for their stomach.

Awo on Africa's Dependence on Former Colonial Masters
"Today, Africa is a continent of COMPETING BEGGAR-NATIONs. We vie with one another for favours from our former colonial masters; and we deliberately fall over one another to invite neo- colonialists to come over to our different territories to preside over our economic fortunes ... Unless a beggar resolutely shakes off, and irrevocably turns his back on, his begging habit, he will forever remain a beggar. For, the more he begs, the more he develops the beggar characteristics of lack of initiative, courage, drive and self-reliance."
-Address to 4th OAU Summit in Kinshasa (1967): In Voice of Courage, 1981.

Back in 1981, the late Chief Obafemi Awolowo, GCFR, had warned the Shagari administration that the economy was heading for the rocks. Because Awolowo was the leader of the Unity Party of Nigeria, UPN, the leaders of the National Party of Nigeria, NPN, dismissed his observations as prophecies of doom which should be ignored. Shagari’s Chief Economic Adviser, CEA (does Jonathan have one?), a professor of economics, wrote a full page rejoinder to Awo – full of the lies and half-truths governments indulge in . 25 months after that warning, Shagari, elected by a “moon slide” (credit to the late MKO Mbadiwe) was toppled by Buhari; who was in turn sent packing by Babangida. What was the cause of the problem? Nigeria’s crude oil price had risen steadily from $3 in 1973 to about $28 in 1981. Based on that, “technocrats” had advised the government to take a $2.8bn loan – on the grounds that the loan could be easily repaid. The civilian federal and state governments, elected in 1979, also went on a borrowing spree. The impression one had was the belief that crude oil price was on an ever-rising escalator. Unfortunately, the escalator not only stopped moving up; it actually reversed itself when a global recession severely slashed the demand for crude oil as well as other commodities. Nigeria’s crude eventually hit the bottom at $9.9 per barrel under IBB. The loans, which were said to be easily re-payable, became the albatross called the DEBT TRAP of the 1980s and 1990s. Okonjo-Iweala is only taking us down the familiar path to severe economic hardship – from which she will escape to America. Why? Because the longest global economic expansion which brought crude prices to over $110, at one point, has also come to an end. Furthermore, while the number of oil producing countries was less than 20, the number today is over 40.

Read more at: http://www.vanguardngr.com/2014/10/economy-bended-knees-nigerias-belated-contingency-economic-plan/

Leave oil in the ground . Develop people.

Next time they come , just give them a civil or criminal record .
What exactly is the purpose of SAN title anyway.
Get rid

Graduates should be manning the police force, customs ,quarantine etc while the current police officers should be sweeping the streets.

Incoherent gibberish

Still constituting a nuisance on Twitter and doing nothing.
1 Ben Bruce should Start by reducing the National Assembly corrupt budget from N120 billion to N5 billion

2 he should then send a bill barring political office holders from sending their children to foreign universities and private schools

3 make all public procurements local and only go foreign if there are no local alternatives

A Godly people and great country indeed.
Mass insanity rules

grayht:
[size=20pt]Ambode Lights Up M.K.O Abiola Garden

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And Many More Road[/size] ...

So we should now do what with the light?

Night economy.
That you choose to go to bed at night does not mean that other have to.

Bad news

Aribinonsense.
Not bothering to read the rubbish because I know that what he had written is rubbish.

No way those guys should have got anywhere near the seat of power.
No way.
It is all obasanjo's fault

Fact checked on page 1 already.

sirade:
Are you kidding me?
That guy needs to change his profession if only what he can churn out in a year is 400 pairs .

Come to Shoe site Onitsha or Bakassi Aba and see what is called mass production of foot wears of assorted grade.

Why have they not bitten a huge chunk out of the global shoe industry?
The point you are missing is that there are ten of thousands of cobblers all over the country .
A government policy tilted towards people like these would in no time see huge export oriented conglomerate
Grow out of such policies.
Yes that 400 a day shoemaker can become the basis of a future Samsung .

No doubt that the economy has to be moved away from away from excessive importation to export of semi-finished good and finished good .
The whole of Africa is there for us to use as a playground.

Lyoncrescent:
I am no economist but I see some cherry picking in some of his points. There's a difference between a rule and am exception. Using Vietnam, south korea, russia and Japan as examples doesn't show if they are the rule or the exception and and as such to equate them with the Nigerian situation considering the different socio economic factors make his arguments vague. For every country he used to justify his arguments who is to say there are not other countries that can be used to counter his argument ? Cherry picking at its Best. I must however agree that some of his points are valid

One of these brain washed and selfish textbook economist once used Russia as a case study.
Russia , a country who laughed off western sanctions . Even though it hurts , their patriotism to their country made them look inwards to the neglected sectors of their economy.
A country capable of manufacturing almost everything on the planet.