₦airaland Forum

Ynix:
Here is one of the links

https://www.statista.com/outlook/dmo/ecommerce/furniture-appliances/furniture-homeware/nigeria

Mind you, the government is not paying any loan, it is the tax and revenue that pays it.
Don't let anyone deceive you that Government are the one paying the loan. And if they are they pay after collecting from you

Government not paying loan? Please explain.
I do not need links just tell me what your point is

Are you saying government made $697 million from furniture ? Yes or no

Ynix:
Here is one of the links

https://www.statista.com/outlook/dmo/ecommerce/furniture-appliances/furniture-homeware/nigeria

Mind you, the government is not paying any loan, it is the tax and revenue that pays it.
Don't let anyone deceive you that Government are the one paying the loan. And if they are they pay after collecting from you

It is clear you do not know what you are saying first you say furniture generate $697 million next you send a link saying it is projected

The question is is that a Foreign exchange projection or a GDP projection

GDP is generally calculated in $ . It does not telll us that we are exporting $697 million worth of furniture.

Every single activity in the GDP including Fulani herdsmen activity is denominated in $ that is very different from Forex earnings

omonnakoda:
Government not paying loan? Please explain.
I do not need links just tell me what your point is

Are you saying government made $697 million from furniture ? Yes or no

There are lots of revenue generating sectors and sub sectors that they won't tell you, from different aspects of agriculture to mining, to forestry, to tourism, oil and gas among others.

Ok let us look at the Furniture industry for example.

There are more than 100,000 furniture makers in Nigeria. And internal revenue service collect taxes from them.

Also there are tens of companies that make nothing less than 5 Billion Naira in revenues from Furniture making.

If furniture makers make $697 Million last year and government collected their VAT, Income tax and the rest, let say everything amount to 20% is that not a good source of revenue.
Why don't you give such subsector a boost by pumping more funds into such areas for human capital development and productivity but it is barely impossible because of the debts collected for recurrent expenditure.

The main challenge I have is why are they not borrowing to fund the cash cows

omonnakoda:
Government not paying loan? Please explain.
I do not need links just tell me what your point is

Are you saying government made $697 million from furniture ? Yes or no

it is your tax paying and the accrued revenue that is paying the loan borrowed and not the government.
For them they are even having cuts from the loans

Ynix:
There are lots of revenue generating sectors and sub sectors that they won't tell you, from different aspects of agriculture to mining, to forestry, to tourism, oil and gas among others.

Ok let us look at the Furniture industry for example.

There are more than 100,000 furniture makers in Nigeria. And internal revenue service collect taxes from them.

Also there are tens of companies that make nothing less than 5 Billion Naira in revenues from Furniture making.

If furniture makers make $697 Million last year and government collected their VAT, Income tax and the rest, let say everything amount to 20% is that not a good source of revenue.
Why don't you give such subsector a boost by pumping more funds into such areas for human capital development and productivity but it is barely impossible because of the debts collected for recurrent expenditure.

The main challenge I have is why are they not borrowing to fund the cash cows

You are just waffling.

You are not answering the questions
You really do not have anything meaningful to say

Answer the questions

You said government is not paying off a loan. Explain
You mentioned $697 million again that is just nonsense.

Nigeria External Debt is $36 billion.

How will it be repaid that is the question

omonnakoda:
There is no generalisation
Productivity is measured by GDP per capita.

By that measure our people are not productive.

What is it that we produce and sell to the world to earn the dollars to repay the loans

What do we actually ADD VALUE to.


I am no enemy of progress but the truth is bitter. We must , I emphasize MUST borrow with the ability to pay back as the number one consideration. NOT what we think we need.

Some might put forward the idea that our capacity to repay will expand when these projects come online. That is fantasy

Human capital is what enhances capacity to pay back

Let us even start by making furniture(anything) that other countries want to buy.
Not commodities
We are collectively an unproductive people. Ranked 136 on GDP per capita

136

Nigerians are very productive, even in the north our problems are our political elites they make life miserable for the people through their lazy Economic models and self-centered approach to governance. The last time I checked Nigerians export Furnitures

Ynix:
it is your tax paying and the accrued revenue that is paying the loan borrowed and not the government.
For them they are even having cuts from the loans

Do we pay tax in dollars?

Government owes $36 billion where is that coming from

That is why I gave the furniture example which clearly you did not understand

The point is what do we sell to the world apart from oil that will provide the dollars to repay the loan?

Ynix:
Nigerians are very productive, even in the north our problems are our political elites they make life miserable for the people through their lazy Economic models and self-centered approach to governance. The last time I checked Nigerians export Furnitures

Very productive? Really?
Productivity is measurable
In this case where we are talking of repaying dollar loans

How many dollars does each Nigerian generate in one year

That is the real measure of productivity

What do we produce that other countries buy IN DOLLARS


VERY SIMPLE QUESTION

omonnakoda:
You are just waffling.

You are not answering the questions
You really do not have anything meaningful to say

Answer the questions

You said government is not paying off a loan. Explain
You mentioned $697 million again that is just nonsense.

Nigeria External Debt is $36 billion.

How will it be repaid that is the
question

Ok since you don't understand what I put up at the starting of my post.

First, I said the borrowing of money to finance long term infrastructural projects is wrong, it is not viable.
Second, I said our focus should be on reducing the rate of poverty by deregulating the sectors that they are borrowing money to fund the infrastructural project just as was done with Telecommunications.

Third, I said the easiest way to grow a nation and economy is to push more money into Human Development and Human Capital Development for productivity and wealth creation.

Don't ask me how Government will pay the debts when I am complaining about the debts.

Mind you the debts we owe includes the money the likes of Dangote and some other big businesses borrowed, the state government and the Federal.

From my posts, all I said is our Economic and governance model are not viable.

Go and ask Buhari about debt payments and not me

omonnakoda:
Very productive? Really?
Productivity is measurable
In this case where we are talking of repaying dollar loans

How many dollars does each Nigerian generate in one year

That is the real measure of productivity

What do we produce that other countries buy IN DOLLARS


VERY SIMPLE QUESTION

you seem to be mincing productivity together with international competitiveness.

It is not the people that are borrowing the money, it is the government putting us into debt, yet we are the one to pay it and our unborn children is that clear to you.

Moreover Nigerians are not lazy and unproductive it is the government that are lazy and not visionary

Ynix:
Ok since you don't understand what I put up at the starting of my post.

First, I said the borrowing of money to finance long term infrastructural projects is wrong, it is not viable.
Second, I said our focus should be on reducing the rate of poverty by deregulating the sectors that they are borrowing money to fund the infrastructural project just as was done with Telecommunications.

Third, I said the easiest way to grow a nation and economy is to push more money into Human Development and Human Capital Development for productivity and wealth creation.

Don't ask me how Government will pay the debts when I am complaining about the debts.

Mind you the debts we owe includes the money the likes of Dangote and some other big businesses borrowed, the state government and the Federal.

From my posts, all I said is our Economic and governance model are not viable.

Go and ask Buhari about debt payments and not me

I am not interested in all your posts just the conversation we are having on this thread

Clearly you are not prepared to deal with issues and just keep shifting the goal post

Ynix:
you seem to be mincing productivity together with international competitiveness.

It is not the people that are borrowing the money, it is the government putting us into debt, yet we are the one to pay it and our unborn children is that clear to you.

Moreover Nigerians are not lazy and unproductive it is the government that are lazy and not visionary

Productivity is measured by GDP

You are the one "MIXING" or MINCING my words

National GDP measures National productivity
GDP per capita measures individual productivity

on that measure Nigeria is 136 in the world

It has NOTHING TO DO WITH COMPETITIVENESS

omonnakoda:
Very productive? Really?
Productivity is measurable
In this case where we are talking of repaying dollar loans

How many dollars does each Nigerian generate in one year

That is the real measure of productivity

What do we produce that other countries buy IN DOLLARS


VERY SIMPLE QUESTION

if you are not productive don't conclude that others are not.
It seems you are not different from the GCFR who said Nigerian youths are lazy.
I repeat it again Nigerians are productive. It is the government that is making their productivity a waste

omonnakoda:
Productivity is measured by GDP

You are the one "MIXING" or MINCING my words

National GDP measures National productivity
GDP per capita measures individual productivity

on that measure Nigeria is 136 in the world

It has NOTHING TO DO WITH COMPETITIVENESS

Ok you are right about the GDP

If you carefully read what I wrote you will realize that my exasperation is that we focus on the GDP before the HDI.

The people are not the problem, they did not create the problem, it is the political elites that are to blame. The borrowing is making us weaker