₦airaland Forum

socialmediaman:
With $145, you can either start a small business that generates money, or use it and eat at fast food centers, so if N34 trillion was invested, it could generate N100 trillion

34 trillion is just half the story, Nigeria currently earns less than half of the income it generates, this is evident with over $50 billion lost to fraud that didn't enter the nation's treasury when our entire budget was less than $13 billion

themilanway:
Same way you are deluded for labelling 34Trillion"tiny".

You are asking me to use my head,it doesn't look like you use yours.

Sweetguy25:
I give up.

Sweetguy25:
Thats not a proper way to analyze the issue at stake.

34 trillion at an exchange rate of 150 naira to a dollar is equivalent to almost 300 billion dollars or thereabout.

300 billion dollars was spent in seven years, approximately 47 billion dollars was spent per year in the last seven years.

On a per capita basis, 47 billion dollars per annum for a population of 170 million people is not up to 400 dollars, which is extremely paltry and meager.

South Africa, with a population of less than 50 million has an annual FG budget of about 120 billion dollars (about 20 trillion naira).
Egypt, with a population smaller than ours has an annual government spending of over 60 billion dollars.

The United states, has a government (federal only) spending of 3 trillion dollars (about five hundred trillion naira) per annum.


The 34 trillion naira you think is "staggering" could barely be enough for our education sector alone.

I have found out that a vast majority of Nigerians don't seem to understand the fiscal limits of the Nigerian government. You people think the country has too much money and we're so rich and buoyant. Y'all should wake up!

Look at it from this point of view;

Nigeria is not wealthy as such the wealth could hardly go round due to high population, no doubt about that, but the fact is that, even the little is mis managed reason we can hardly point to anything tangible done with the money, this will shock you;

The most sophisticated fighter jet in the world sell for $361m, cant we afford it? do we have it?
The longest bridge in the world cost $8.5m cant we afford it? do we have it?
one of The biggest car assembly plant in the world cost $1b, do we have it?
The biggest Refinery in the world cost $6b in three years, do you have it? cant we afford it?
The longest Natural gas Pipeline in the world cost $5.7b, do we have it? cant we afford it?
The biggest airport in the word, cost $9b do you have it? cant we afford it?
The biggest power plant in the world cost $26b do you have it? cant we afford it?

Guess what, Nigeria has one of the biggest churches in the world,

The list is endless, if Nigeria managed to get one or two of any of the above, the economic chain reaction will be enormous, a lot of people will be lifted out of poverty.
Nobody except the Govt funds to be shared amongst its citizens, purposeful spending by the govt will lift a lot of people out of poverty, what we have in Nigeria is directionless spending, corruption and insincerity of purpose.

You will be shocked that one stup!!d project in Lagos cost as much yet it still amounts to nothing. The fundamental flaw that needs to be fixed is mismanagement, nothing else. Assuming your $300b was managed properly, we could get one of those, a senseless Okonjo Iweala will definitely disagree and fix culpability on population.

Nigeria's population is supposed to be a blessing not a curse, all the countries in the world will see Nigeria as a destination for cheap labour citeris paribus, Iweala will definitely disagree.

jpphilips:
Look at it from this point of view;

Nigeria is not wealthy as such the wealth could hardly go round due to high population, no doubt about that, but the fact is that, even the little is mis managed reason we can hardly point to anything tangible done with the money, this will shock you;

The most sophisticated fighter jet in the world sell for $361m, cant we afford it? do we have it?
The longest bridge in the world cost $8.5m cant we afford it? do we have it?
one of The biggest car assembly plant in the world cost $1b, do we have it?
The biggest Refinery in the world cost $6b in three years, do you have it? cant we afford it?
The longest Natural gas Pipeline in the world cost $5.7b, do we have it? cant we afford it?
The biggest airport in the word, cost $9b do you have it? cant we afford it?
The biggest power plant in the world cost $26b do you have it? cant we afford it?

Guess what, Nigeria has one of the biggest churches in the world,

The list is endless, if Nigeria managed to get one or two of any of the above, the economic chain reaction will be enormous, a lot of people will be lifted out of poverty.
Nobody except the Govt funds to be shared amongst its citizens, purposeful spending by the govt will lift a lot of people out of poverty, what we have in Nigeria is directionless spending, corruption and insincerity of purpose.

You will be shocked that one stup!!d project in Lagos cost as much yet it still amounts to nothing. The fundamental flaw that needs to be fixed is mismanagement, nothing else. Assuming your $300b was managed properly, we could get one of those, a senseless Okonjo Iweala will definitely disagree and fix culpability on population.

Nigeria's population is supposed to be a blessing not a curse, all the countries in the world will see Nigeria as a destination for cheap labour citeris paribus, Iweala will definitely disagree.