₦airaland Forum

Pls explain it to your fellow yoruba BATeria man. He is floating the naira against the green back.

What hes saying is we claim we practicing a free market, yet people call on the goverment to intervene. The glory days of Nigeria, government controlled almost all the sectors;

People said goverment dont know how to run business, so they came to a conclusion of privatisation and commercialisation, not realizing private organisations obly care about maximizing their profit.

Today all these major sectors are controled by private companies, ruining the country as a whole.

300 hundered Nigerians holding the country in ransome by owing trillions of Naira (The AMCON saga)

Conclusively, private sector na em they ruin Nigeria without been checked. A free market system.

Remman:
I don't get, what exactly is he trying to say? Is it that the price of maggi and onions is determined by the government? Or what drove him to say this? Or i'm the one confused here, can someone help me out?

Are the private sectors making it any easy? Na why price control no dey.

This is Nigeria, not Israel

LadyExcellency:
Free Economy has a different definition and has nothing to do with cessation of social welfare and subsidies.

Bibi Netanyahu has proved that it exists.

Read how he successfully liberated Israel’s economy, which helped turn it into a global powerhouse of technological innovation.

LadyExcellency:
That's not a negation of the free economy. Investors are being driven to offload the yen due to a yawning gulf in interest rates between Japan and the United States. The US Central Bank cut interest rates thereby affecting the Japanese market.
Saving jobs and keeping the financial system and banks' credit rantings is the economic and monetary decision of their central bank, not the political echelon

But Interest rate cuts are interventions from government, not private entities. The board and governors of the central bank are appointed by government.

Never believe anyone who has served in the Nigerian government!

Free economy must first exist and allow to exist ! Study the micro economy of some local markets before govt starts to interfere with taxes and secondary policies that destroyed the market forces!

Nobody is asking for subsidies and bailout, just provide the enabling environment! Fvvls ! They travel abroad to enjoy free market economy and come home to choke the masses dur to selfish interest!

Lagos was doing well untill BAT brought in NURTW

They are not meant to intervene, just because of some private individuals, make government come fold their arms?

Babalegba:
Lol Japan intervened in the market to save the yen about six weeks ago. Why didn't they leave everything to market forces

NwaNimo1:
To some......

https://storage.ko-fi.com/cdn/useruploads/display/4e1b7a86-58b1-4f4b-9070-985f55820091_3ojxw.gif

EmperorCaesar:
The fact that this is all you had to say Just showed that you're the dullard here

A dullard is someone who knows the truth but supports another doing the opposite.

How govt destroy am? The thing is dat all these policies wey dey work for developed countries cannot work here.

The market system is not the same.

Privitization and commercialization was one of the biggest mistakes Nigeria made.

Manufacturing, Agriculture, mining.....are all controlled by private organisations.

Na there the downfall start.

Vulcan24:
Never believe anyone who has served in the Nigerian government!

Free economy must first exist and allow to exist ! Study the micro economy of some local markets before govt starts to interfere with taxes and secondary policies that destroyed the market forces!

Nobody is asking for subsidies and bailout, just provide the enabling environment! Fvvls ! They travel abroad to enjoy free market economy and come home to choke the masses dur to selfish interest!

Lagos was doing well untill BAT brought in NURTW

People wey no get idea of market system go still cum ere, believing they have something intelligent to say.

No be to go school alone. You must know how these things work. Na everything we dey take compare Europe, off which them no dey wear the same shoe.

All government needs to do is to face its core mandate which is proper regulations.
Whatever market system is deployed can be managed prompt upto the security apparatuses.
As big and diverse Nigeria she shouldn't be this loose!!!!

NaMe4:
But Interest rate cuts are interventions from government, not private entities. The board and governors of the central bank are appointed by government.

Don't mind him

central banks are one and the same thing with federal government. They are the same personality.

That's why in America they call it the Federal reserve


I don't know how these guys reason

KayB:
All government needs to do is to face its core mandate which is proper regulations.
Whatever market system is deployed can be managed prompt upto the security apparatuses.
As big and diverse Nigeria she shouldn't be this loose!!!!

This regime don't want to do their work and responsibilities for reasons best known to them. To state that they lack political will is an understatement. Which serious govt will tolerate this level of insecurity in the country for more than a second?

OlujobaSamuel:
So the only available option is pulling the plugs on all forms of subsidy to the populace?
If that is your take, we can see the results of the partial pulling out, let's see what will happen if all is eventually taken away

No plug has been pulled we are Paying more subsidy today than ever in our history

Let me ask you do you have a business or you work?

If the word free market economy was not a scam, the US wouldn't have been fighting China's technological and economic development with all its strength.

You will do well to listen to the speech instead of pretending to be smart...

Remman:
I don't get, what exactly is he trying to say? Is it that the price of maggi and onions is determined by the government? Or what drove him to say this? Or i'm the one confused here, can someone help me out?

shonepa:
What hes saying is we claim we practicing a free market, yet people call on the goverment to intervene. The glory days of Nigeria, government controlled almost all the sectors;

People said goverment dont know how to run business, so they came to a conclusion of privatisation and commercialisation, not realizing private organisations obly care about maximizing their profit.

Today all these major sectors are controled by private companies, ruining the country as a whole.

300 hundered Nigerians holding the country in ransome by owing trillions of Naira (The AMCON saga)

Conclusively, private sector na em they ruin Nigeria without been checked. A free market system.

Thanks, man, for clarity... I got it now!

mrvitalis:
No plug has been pulled we are Paying more subsidy today than ever in our history

Let me ask you do you have a business or you work?

No plug has been pulled ke, are you sure you are in Nigeria?
Even the finance minister or CBN governor won't make such claim.
I'm involved in both, why do you ask?

OlujobaSamuel:
No plug has been pulled ke, are you sure you are in Nigeria?
Even the finance minister or CBN governor won't make such claim.
I'm involved in both, why do you ask?

Which plug has been pulled

after using 120 million to design website

SoNature:
Fashola is right. Once in a while, the government will intervene in the market and stabilise things. If not, things will go wrong.

The speech I consider most interesting was that of Oluseun Onigbide, I just came across the name today. He encouraged everyone to show interest and get involved in governance.

Prof Soludo did well, but I don't think being in government and not borrowing to invest in ventures that will yield more money for the state is something to celebrate.

I think it's a good idea to not borrow money for business as a state government if you're not sure about success. Nigeria is a graveyard for capital most of the time. The chance of success is very slim.

Remman:
I don't get, what exactly is he trying to say? Is it that the price of maggi and onions is determined by the government? Or what drove him to say this? Or i'm the one confused here, can someone help me out?

What he’s simply saying is that the products or factors that drive the production of Maggi should not be left to operate by free economy. Diesel, petrol, forex, raw materials etc that are used to manufacture daily products should be regulated by the government and not left to private investors.

chucky101:
I think it's a good idea to not borrow money for business as a state government if you're not sure about success. Nigeria is a graveyard for capital most of the time. The chance of success is very slim.

Life is all about taking risks. People even say that it's risker not to take risks at all. If individuals like Dangote could take risks, lose a lot of money and still become successful, why can't governments through PPP arrangements?

I have talked about government in the South investing massively in agriculture. A serious eastern government can invest in oil palm plantation (it can also be other crops, depending on what grows well in the state) and massive cattle ranches to make a lot of money from it.

If you imagine how much foodstuff sells in the market, you understand how much a government can make from investing in agriculture, creating massive jobs, and improving IGR and GDP. Nobody should be in government and be boasting of not borrowing to invest in ventures that yield money for the state. This is something other states should learn from Lagos and AKS.

Anyone commenting should at least listen to Fashola in full. There's a lot to learn.


https://www.youtube.com/watch?v=qeYczSm_kQY?si=7wm6uXCdua3ttjma

Good Luck to Nigeria

Remman:
I don't get, what exactly is he trying to say? Is it that the price of maggi and onions is determined by the government? Or what drove him to say this? Or i'm the one confused here, can someone help me out?

May be you should read through again and be open minded this time around.

The message is clear

let Fashola be president for once

Consumers suffering too much on it, the government have coordinate prices control so that it'll stop competitive among marketers and producers.

All I could decipher from his speech is that "This current administration ignorantly believed in the possibility of a 'free market economy' which led to their naive decisions to; float the naira and remove fuel and electricity subsidy". Now that they have realised their folly as depicted by this respected state man's confession, will they shed their pride and humbly take their step back so we can forge ahead rather than preaching 'free market economy' in the open and paying subsidies in the closet hence not been transparent in their governance.

SoNature:
Life is all about taking risks. People even say that it's risker not to take risks at all. If individuals like Dangote could take risks, lose a lot of money and still become successful, why can't governments through PPP arrangements?

I have talked about government in the South investing massively in agriculture. A serious eastern government can invest in oil palm plantation (it can also be other crops, depending on what grows well in the state) and massive cattle ranches to make a lot of money from it.

If you imagine how much foodstuff sells in the market, you understand how much a government can make from investing in agriculture, creating massive jobs, and improving IGR and GDP. Nobody should be in government and be boasting of not borrowing to invest in ventures that yield money for the state. This is something other states should learn from Lagos and AKS.

Your points are valid. A major Lagos has is continuity and a strong sense of loyalty to the the objectives set out by BAT. No other state has that level of consistency and absence of rancour amongst past governors (except maybe Delta state).
Investments like the ones you mentioned have a considerably long gestation period and it's likely any gains achieved by the previous administration will be abandoned by the incoming administration and any challenges encountered with the investment be surely be used as a weapon to attack the previous government

That's true. That's why the West opted for Social Market Economy. Even I used to be a strong advocate for Free Market but had to change my stance.