₦airaland Forum

1. Multiple exchange rates

2. Low competition in the cement industry (Dangote cement).

3. Excessive government spending (salaries, cars, refurbishments etc.)

If you fix these three things, Nigeria will grow at 6% + annually.

You didn't mention farmers being unable to farm.

Is food not a major part of the economy ?

AlhajiBitcoin:
You didn't mention farmers being unable to farm.

Is food not a major part of the economy ?

Those farmers are low productivity and barely contribute to growth.

+ Insecurity

funkybroyouknow:
+ Insecurity

the insecurity comes from the bad economy. Fix the economy the kidnapping dissapears

Nigerian elites ,chronic corruption , Godfathers..tribalism.

Asgard13:
Nigerian elites ,chronic corruption , Godfathers..tribalism.

Those problems are very difficult to solve, whereas the problems I listed can be fixed with the stroke of a pen. We need to stop mystifying our problems and focus on the low hanging fruit.

How do want us to join politics , If politicians jumbo pay and government high spending is reviewed downward ?

How 'fixable' are these things in the nigerian setting. Nigerians are it's own problem. I do not think we are more greedy than the average person. Lack of enforcing the rule of law is our problem i think. Nigeria needs an iron fist......for now.

Aconomist:
1. Multiple exchange rates

2. Low competition in the cement industry (Dangote cement).

3. Excessive government spending (salaries, cars, refurbishments etc.)

If you fix these three things, Nigeria will grow at 6% + annually.

Our growth is tied to government being able to utilise tax payers money wisely. Our problem is we nigerians and our leaders, which is US too.

Dangote is a business man, you can't increase VAT with 2.5%, increase cost of Diesel with about 30%, increase electricity tariffs, devalue our naira and expect his production price to remain same. He will transfer the cost to consumers.

Running business in Nigeria is hectic because of government policies. We are slammed with multiple taxations, FIRS will deduct over 5 different taxes, state will deduct, local government will deduct and at the end of the day, the government will embezzle the funds.

The actual reasons why people contest for election is government contract. Most government contract in Nigeria is 1000% margin. If the cost is 10 million, they will pay you 100 million. And it's only politicians or they agent will get the contract.

Nigeria need social engineering. Crimes should be punished with death sentence while mild crime should be punish with 1 year jail or 6 days hunger stave.