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Nairaland Forum / Nairaland / General / Business / Femi Otedola: Government Should Desist From Trying To Manage Businesses (19385 Views)
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Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by iCauseTrouble: 12:47pm On May 24, 2023 |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by sonature1: 12:48pm On May 24, 2023 |
SmartyPants: That's FALSE. Every people and government has its peculiarities. Governments of China, Saudi Arabia, and India still control some of the most financed corporations in their countries. Some of those state-run institutions have even gone international with footprints spread across countries. I maintain that what should work for Nigeria is PPP. Don't leave sensitive sectors in the hands of devilish Nigerians to avoid massive exploitation. Forget religion - Nigerians are evil by default. That's the mentality they carry everywhere they go - both public and private sectors. 1 Like |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by opalu: 12:48pm On May 24, 2023 |
BluntCrazeMan: But these businesses do not yield the Government any benefit. Take Kaduna refineries and Warri and PH refineries for instance, every year they do maintenance. People earn salaries. Yet even water self they can't refine 3 Likes 1 Share |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by slimfit1(m): 12:51pm On May 24, 2023 |
All I know is I can't invest in Nigeria, so why would foreigners invest. |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by SmartyPants(m): 12:52pm On May 24, 2023 |
sonature1: No it is not false. It's rudimentary economics. Of course some governments may be more effective than others at running businesses, but as a rule, profit making is best left to the pivate sector. Especially in a democracy and by extension, a free market economy. 2 Likes |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by CyracksMrBlogger(m): 12:53pm On May 24, 2023 |
Roon9:the selfishness attitude of most Nigerians who are privilege to work with the government is the caused. The "na government property, it is not my own" makes them neglect their responsibilities. They siphon money made for projects to their personal use and expect the next government to come and inherit the blames. When the next government complains about it and start probing, majority of Nigerians will still come out to lash the government for blaming the previous government instead of working. An then call it witch-hunting... New crops of good Nigerians are birth and groomed everyday. very soon they will take over affairs while the old rotten, wicked and corrupt ones will either die off or remain passive in the affairs. Nigeria will be great. 2 Likes 1 Share |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by ufotunang: 12:55pm On May 24, 2023 |
Yes the government should not go into establishing bussinesses and companies... leave it for the private sector to do that...your duty as a government is to provide a conducive environment for bussinesses to strive, excel and expand to boost the economy and make the country to be good and better 1 Like |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Taigaban: 12:57pm On May 24, 2023 |
Otedola is right. Government businesses in Nigeria never succeed. Government should be and exercise regulatory functions. Keep in check greedy business men who cheats the masses through monopolising basic consumer goods. 1 Like |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by CyracksMrBlogger(m): 12:58pm On May 24, 2023 |
slimfit1:you ask yourself, where have you ever invest in your life? You guys will just open mouth and say rubbish. The same Nigeria people invest here and make a lot of money. The Nigerian market is big and profitable, all you need do is a feasibility study and pitch your business in the area where you can make your steady profit. |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by CodeTemplar: 12:59pm On May 24, 2023 |
.....but govt should own businesses. Govt itself is a business so they must accept the responsibility of business and its various aspect, including running of business. |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by slimfit1(m): 1:03pm On May 24, 2023 |
CyracksMrBlogger: Who will invest in people that don't follow rule of law. Invest in people that can wake up one morning and demolish my business because I didn't support him politically. Invest in people that can auction justice no thank you. |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Eriokanmi: 1:04pm On May 24, 2023 |
Printerscanner:That's not true. I agree with Femi 100%. I remember in those days when we had NITEL. You must be averagely ok for you to have a nite line. The day I told my friend that GSM was cheaper and Benin Republic was already in the GSM platform. He argued blindly because it was like a mirage to him. What happens today...ordinary cart pusher has at least one active GSM line. Hardly would you see anyone walking on the street without a phone today, what used to be a luxury. Amazingly, the federal government is earning today, triple what they used to earn in revenue when they held on to Nitel in those days. What of the millions of jobs that GSM had created? After UK embraced privatisation, they remained forever grateful for their leaders for bringing up such an.amazing idea. Government has no business in engaging in business. All they need do is provide that enabling environment for business to thrive. They could have a stake in that business in order to regulate their activities or affairs, just the way nnpc does with Dangote Refineries and co. I want our sea ports, airports, Refineries etc to be privatised. This will curb corruption and bring about efficiency at affordable costs. If you've been to MM2 for instance, it's much more cleaner and with better facilities, compared to MMIA. There would also be accountability. One man won't set a unit ablaze in order to cover up his corrupt practices by burning all the files containing sensitive documents that could nail him in court. Lastly, there'd be a square peg in a square hole and massive employment opportunities. 2 Likes |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by staga: 1:07pm On May 24, 2023 |
There is no country where the government simply leaves the private sector to be unleashed on the populace. You use government patronage or connections to make your money. Then you use the same money to buy up government companies so you use the facilities to rip off Nigerians. Are AEDC and other GENCOs and DISCOs not private companies? What has been the story since government took their hands off these companies? Are they still not the ones approaching the CBN (government entity) for loans to run businesses they bought over via a crooked process when they had no capacity? Now ask yourself: how is Saudi Aramco and its subsidiaries that are 100% owned by the SA government making billions in profit? |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Sunshine34(m): 1:18pm On May 24, 2023 |
Truth. Government cannot run successful business but they must provide enabling environment 1 Like |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by HacheNoire: 1:24pm On May 24, 2023 |
BarrElChapo: What monopoly. Please explain? Mention one thing Dangote is monopolizing? |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Menclothing: 1:56pm On May 24, 2023 |
Tinubu government should sell those refinery make it open to public state gov can also buy shares from it not more than 20 percent fedral 10 70 percent private investors |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Menclothing: 1:59pm On May 24, 2023 |
HacheNoire: Most of this people only have primary education they jut open mouth waa to shout monopoly Monopoly means a business line for 1 seller No business in Nigeria operates on monopoly even refineries over 32 company given licenses only dangote built The rest are waiting for who to sell it for |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by HacheNoire: 2:01pm On May 24, 2023 |
Menclothing: Why I had to politely ask him to explain the monopoly he is talking about. That word “Monopoly” has been over flogged and needs to be addressed |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Etranshub(m): 2:05pm On May 24, 2023 |
Although the statement seems from a selfish man point of view, our government have proven it to be correct. Nitel, Nigeria airways, nepa, nta, post office, pri and sec education, nipost, nrc etc... They are either dead, sold or a shadow of themselves |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Nwanna2588: 2:06pm On May 24, 2023 |
He should know that the government runs a business because of the following reasons: (i) To provide essential services: The government prefers to handle the provision of essential services to reduce costs. The services are water, electricity, etc. (ii)To prevent monopoly: Government participates in business to prevent the exploitation of the people. (iii) Capital involvement: Some enterprises require huge capital which private individuals cannot provide. (iv)To prevent foreign control of the economy: The management of some corporations must be handled by the government to avoid them falling into the hands of foreigners. (v) Strategic reasons: Some corporations e.g. airports, seaports, etc are strategically important to the economy, hence private hands cannot be allowed (vi) Revenue generation: Government participates to generate revenue from them. (vii) Employment opportunities: Government embarks on business to create employment opportunities (viii)To monitor the industry: Government may like to cooperate with private bodies in such ventures as insurance and banking to enable the government to monitor the activities of such businesses. 2 Likes |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Successlane: 2:22pm On May 24, 2023 |
sonature1: BEST way to go 1 Like |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by IbileIfe: 2:39pm On May 24, 2023 |
From running and ruining the Nigerian economy. But Femi Otedola is one of the biggest beneficiaries of the corruption and maladministration of the Nigerian government |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by ferhyntorlah(f): 2:53pm On May 24, 2023 |
sonature1: Indirectly, you're still agreeing to his remark. Government should NEVER run any business 100%. It should go into partnership with the private sector. |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by ajimo54(m): 3:10pm On May 24, 2023 |
LordIsaac: Is a full fledge Capitalist economy bad? |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Bravity1000(m): 3:23pm On May 24, 2023 |
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Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Roon9(m): 3:24pm On May 24, 2023 |
CyracksMrBlogger: Very very correct |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by LordIsaac(m): 3:38pm On May 24, 2023 |
ajimo54:By itself, it is debatable...taking into cognisance postulations of Karl Marx and Descartes. You can look up "The Protestant Ethic and the Spirit of Capitalism" by Max Weber for more enlightenment. In the Nigerian context, one riddled with corruption and wickedness, it is nothing short of evil! |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Exedyne: 3:49pm On May 24, 2023 |
hes wrong. its peculiar to africa that governments cant run successful businesses. a lot of the bigeest companies in the world are government run have you hear dof saudi aramco? 1.2 trillion dollar company? thats owned by the saudi govt. |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by Apus: 4:03pm On May 24, 2023 |
Nwanna2588: You've said it all, especially I, IV and V. It's even a disgrace that government cannot refine its own oil, provide water and electricity without relying wholely on the private sector. Government needs to adopt the New Public Management way of making government administration more business oriented as well as putting measures in place to ensure accountability. 1 Like |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by ajimo54(m): 4:05pm On May 24, 2023 |
LordIsaac: Not at all. If you understand Marx, Descartes and Weber, u will discover that they are Socialists and Communists. But have u taken time to read Adam Smith on Free Market Economy? However, all these old theories do no work again in this modern era! Capitalist economy promotes competition and opens for affluence! Government has no business in doing business! Government shud regulate the economy. This is what is expected of any responsible government. infrastructure is driven by the private sector. Governance can be better in Nigeria if the economy is handed over to the private sector. Forget about that Nigerians are wicked, we shall get there! |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by mmsen: 4:07pm On May 24, 2023 |
Depends on who is in government. What checks and balances are there against unscrupulous actors. In other parts of the world government entities thrive, employ millions and even make a profit. In Africa government is seen as a means to self enrichment to the detriment of the majoriyt, often by loud, Bible thumping hypocrites. |
Re: Femi Otedola: Government Should Desist From Trying To Manage Businesses by mmsen: 4:09pm On May 24, 2023 |
ajimo54: China rose to become the second biggest economy in the world by way of public sector owned business. European economic success was built upon state owned entities. |
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