SmartyPants:


Basic economics holds that governments are not best suited for running businesses.

You create a viable environment for private investors and allow the private sector to compete with minimal regulationnfrom the government.

BluntCrazeMan:
Let's try to make a quick list here.
(Businesses the Nigerian Government Owns, and still pay workers for.)

1. Ajaokuta Steel.
2. Textile Mills
3. Refineries.
4. NTA
5. Radio Nigeria

sonature1:


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.

Roon9:
Every single government owned business that is still standing is either antiquated or poorly managed

There's is something fundamentally wrong with Nigeria

slimfit1:
All I know is I can't invest in Nigeria, so why would foreigners invest.

CyracksMrBlogger:
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.

Printerscanner:
Okay. So that you heartless capitalists can suffocate the masses

BarrElChapo:
Governments don’t grow economy it’s the private sector but the government has to create an enabling environment for businesses to thrive.

The downside to Dangote’s businesses is that he rubs a monopoly aided by the government.

HacheNoire:



What monopoly. Please explain? Mention one thing Dangote is monopolizing?

Menclothing:


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

sonature1:
I don't quite agree.

We can make it a PPP.

Nigerians are too deadly and terrible.

Leave everything in their hands and see them exploit others and abuse it.

sonature1:
I don't quite agree.

We can make it a PPP.

Nigerians are too deadly and terrible.

Leave everything in their hands and see them exploit others and abuse it.

LordIsaac:
A full gear capitalism is what these people are advocating for. The problem is actually wicked and unaccountable rulers. For example, how many times did Buhari visit Benue to see the level of destruction of lives? But he was present to commission refinery! Another example is that of the former Accountant General, who looted the commonwealth with reckless abandon; a loot his generation cannot finish spending to the third generation!

CyracksMrBlogger:
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.

ajimo54:


Is a full fledge Capitalist economy bad?

Nwanna2588:
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.

LordIsaac:

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!

ajimo54:


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!