NavierStokes:


Well said bro couldn't have been better put, good to see wise men like you making the effort to get others in sync.

Thanks brother. We need to become more responsible with our financial resources. I love sharing these messages; they usually give me me a sense of fulfilment.

DeviIhimself:
lalasticlala Seun obinoscopy
i wonder why this is not on front page yet

Because is not pro apc

Nice write dearpreye, i am your fan!
My 2cents

we all keep talking about diversification of the economy,that's pretty cool,but we shouldn't forget that diversification would definately take time to yield result.nigeria economic outlook at the moment is gloomy and we apparently don't have time!

What i think the government should embark on

1.rapid development of our infrastructure,especially power which is pivotal to the development of any nation.nigeria should tap into wind and solar energy,we shouldn't be depending on hydro alone..in saner climes like south africa and taznzania,solar and wind adds thousands of mega watts to thier grids,its cheap and faster

2.Development of SME's is also a contributory factor to the development of any nation,we have an active youth population pegged at over 60million,yet our unemployment rate is growing spirally and exponentially,government should grant soft loans with little or no interest to boost small and medium scale enterprises,this will as well generate thousands of jobs that can get access to the loans,government can prompt beneficiaries of the loan to pay tax if they so please,but make it minimal!

3.Efficiency in our tax system...tho' you might want to disagree with me,but nigeria is one of the less tax countries in the world...britain majorly depends on their tax systems and its working for them,nigeria can key into it,is one of the proponents of income generation of any nation...naija should key into it too.

They are other measures the nigeria n government can take to cushion the effects of global economic downturn,but the aforemention would help on the long run!

dearpreye:


My brother, you need to follow this intellectual giant: ideykwum. He's an ocean of knowlege, hiding behind a sobriquet here.

Have followed. hoping to drink from his fountain of wisdom.

Chubhie:
Have followed. hoping to drink from his fountain of wisdom.

He's my mentor. Though he hardly come around, he remains a fountain of knowledge. I've learned a lot from him.

Times are hard.


Nigeria as a nation needs new leaders with vision to take up leadership positions.


See how you can save Nigeria by becoming a good leader in The Current Economic Times of Nigeria: http://www.234jam.com/2016/01/the-current-economic-times-in-nigeria.html



Now is the time to act!

asha80:
our educational system is still stuck in the 50s albeit a low quality version

Most times, I feel it was a deliberate act by the elites that the educational system is in comatose.

I still have Great Respect for The Great Awo in regards to education.

MediaDeveloper:
Times are hard.


Nigeria as a nation needs new leaders with vision to take up leadership positions.


See how you can save Nigeria by becoming a good leader in The Current Economic Times of Nigeria: http://www.234jam.com/2016/01/the-current-economic-times-in-nigeria.html



Now is the time to act!

I'm telling you. We are in dire need of visionary leaders at all levels.....There's leadership crisis in the land.

The times are indeed hard....It's time to ACT.

dearpreye:


My brother, you need to follow this intellectual giant: ideykwum. He's an ocean of knowlege, hiding behind a sobriquet here.

Bro, you flatter me! But thanks for the compliment!!

ideykwum:


Bro, you flatter me! But thanks for the compliment!!

My Oga, you know I don't do flattery. It's my wish to see others enjoy the same amount of information I've enjoyed from you.

theV0ice:
Weldone dearpreye....all you wrote up there is the truth.

While we play politics with the current realities, its a wise thing for us to individually learn from them and make sensible adjustments.

God bless you bro

Can't believe I liked your post.

Allah bless you mate!

-Lord

dukie25:
@topic
Instead of the present govt to put more money in Ministry of Solid Minerals, we opted to put the same scare resources on the Presidency and NASS.

Check out how much the Presidency and NASS got compared to Ministry of Solid Minerals.

lol.
to tell u the truth, the government shouldn't even put more money on ANY kind of minerals anymore, even though I agree with u that buhari represents a special brand of sttupid.

spending the little we have on EXTRACTIVE TRADE (whether it's solid or liquid minerals) IN THIS DAY AND AGE, will do nothing but reinforce the SAME culture of laziness we've been swimming in for over 50 years.

Any progressive country would tell you, that the ONLY type of minerals we should be tapping into right now, are the INTELLECTUAL MINERALS, and this can only be acheived by investing in EDUCATION - Academic, Technical and Artisan.

The 21st century runs on INNOVATION, and the only way we can compete is through EDUCATION.

Minerals didn't build Apple. The brain did.
Minerals didn't build Facebook. The brain did.
Minerals didn't build Hollywood. The creative mind did.
Minerals didn't build Silicon Valley. The brain did.
Minerals didn't build NASA. The brain did.
Hell, minerals didn't even DESIGN or INVENT the oil refinery. THE HUMAN MIND DID.

My brother, the ONLY sustainable natural resource is the HUMAN RESOURCE, and you can only mine it by investing in EDUCATION.

NoreenUG:


lol.
to tell u the truth, the government shouldn't even put more money on ANY kind of minerals anymore, even though I agree with u that buhari represents a special brand of sttupid.

spending the little we have on EXTRACTIVE TRADE (whether it's solid or liquid minerals) IN THIS DAY AND AGE, will do nothing but reinforce the SAME culture of laziness we've been swimming in for over 50 years.

Any progressive country would tell you, that the ONLY type of minerals we should be tapping into right now, are the INTELLECTUAL MINERALS, and this can only be acheived by investing in EDUCATION - Academic, Technical and Artisan.

The 21st century runs on INNOVATION, and the only way we can compete is through EDUCATION.

Minerals didn't build Apple. The brain did.
Minerals didn't build Facebook. The brain did.
Minerals didn't build Hollywood. The creative mind did.
Minerals didn't build Silicon Valley. The brain did.
Minerals didn't build NASA. The brain did.
Hell, minerals didn't even DESIGN or INVENT the oil refinery. THE HUMAN MIND DID.

My brother, the ONLY sustainable natural resource is the HUMAN RESOURCE, and you can only mine it by investing in EDUCATION.

Simply excellent. Only lazy and backward nations depend on resources other than human resources. Our minds are our greatest faculties; unfortunately we allow them to remain fallow and undisturbed.

LordAdam:


Can't believe I liked your post.

Allah bless you mate!

-Lord

And why shouldn't you if you feel like it?

The fact that we disagree on some issues shouldn't make us enemies or should it?

Meanwhile I'm surprised you're Muslim..

God bless you too

NoreenUG:


lol.
to tell u the truth, the government shouldn't even put more money on ANY kind of minerals anymore, even though I agree with u that buhari represents a special brand of sttupid.

spending the little we have on EXTRACTIVE TRADE (whether it's solid or liquid minerals) IN THIS DAY AND AGE, will do nothing but reinforce the SAME culture of laziness we've been swimming in for over 50 years.

Any progressive country would tell you, that the ONLY type of minerals we should be tapping into right now, are the INTELLECTUAL MINERALS, and this can only be acheived by investing in EDUCATION - Academic, Technical and Artisan.

The 21st century runs on INNOVATION, and the only way we can compete is through EDUCATION.

Minerals didn't build Apple. The brain did.
Minerals didn't build Facebook. The brain did.
Minerals didn't build Hollywood. The creative mind did.
Minerals didn't build Silicon Valley. The brain did.
Minerals didn't build NASA. The brain did.
Hell, minerals didn't even DESIGN or INVENT the oil refinery. THE HUMAN MIND DID.

My brother, the ONLY sustainable natural resource is the HUMAN RESOURCE, and you can only mine it by investing in EDUCATION.

cc
Tonyebacanista and Truckpusher

theV0ice:


And why shouldn't you if you feel like it?

The fact that we disagree on some issues shouldn't make us enemies or should it?

Meanwhile I'm surprised you're Muslim..

God bless you too

Nah, it shouldn't. It's okay for people to have opposing views.

I'm not Muslim. I'm non-religious, so I can use any (Allah, God, Jesus...).

All the best!

-Lord

LordAdam:


Nah, it shouldn't. It's okay for people to have opposing views.

I'm not Muslim. I'm non-religious, so I can use any (Allah, God, Jesus...).

All the best!

-Lord

@the bold, that's interesting.

Cheers mate

Anybody who thinks that FG shouldn't invest in the extractive industry is a joke. There would be no NASA, Silicon valley or Hollywood without a strong extractive industry. Do you guys think America or China got to where it is currently without a strong extractive base? In a normal economy, the emergence of extractive industries set the tone for large scale industrialization from ship building, car manufacturing, extreme infrastructure building and massive (and cheaper) production. Facebook and Apple are just end products of blossoming extractive industries. You guys should smell the coffee, Nigeria still has a long way but need strong leaders at this time! The foundation and national ethos are what we firstly need in times like this....

dearpreye:
It's no longer news that we're having very serious economic challenges. Folks are losing jobs, the price of crude oil is even projected to drop a little further than it has already, private sector is struggling to keep its pace, workers will have their salaries reviewed downwardly. If there was ever a time I felt economic pressures, it's NOW. In fact, I spent my LEAST during the last Christmas and New Year celebrations; the handwriting couldn't be any clearer.

It's my habit to way always seek to glean positives from any negative situation; learn from the mistakes of others and then move forward. I believe this message should have been in some other sections but I felt politics and the economy are inseparable, hence it's here. It's my sincere desire that a few of us could learn one or two lessons from this message. Learning never stops.

Every nation is made up of individuals. And it's these individuals that move into policy-making, effectively carrying over their personal habits into politics. Nigeria is suffering from a lot of factors but I'll seek to highlight a few here. If you want a better life for yourself and family, you must do the opposite of what Nigeria did...and is doing.

ONE MAIN SOURCE OF INCOME. For over 50 years, Nigeria has continued to rely on one main source of income. It's absurd that a nation of over 150 million people ties their economic prosperity to only one source, especially one that's so unstable and volatile in the international market. A lot of our FOREX depends on this single source. We've continued to pay lip service to Agriculture and other sources. So is it with any individual who enjoys only ONE source of income. The person is akin to an individual, who like Warren Buffet will say, is swimming unclad beneath a pool of water. The water is gone and their unclothedness appears to all to see. If you have only one source of income, you need to start making serious efforts to seek other means of income. The more the streams, the better you're placed economically. Nigeria is finally paying for its decades of lack of vision, focus and proactive thinking......and the price may become more grave as the year wears on. Look for alternative sources of income. Just an advice.

A CULTURE OF WASTE AND FOOLISHNESS.

For the past decades, especially since 1960, only God knows how much must have left the shores of this nation. It was decades of mindless waste and looting. I'll support the current administration in its war against corruption and wickedness, provided it is balanced, full, sincere and honest to all. This isn't a political message but an economic one. Subsequent government and politicians wasted our resources in a way akin to a competition amongst a group of gladiators. We are already paying for that.

As an individual, you must NOT be deluded into the thinking that there's always more to come. Take advantage of the little resources you have and maximise it. Nature abhors waste, and all wasters will pay for their waste in no distance time. Be prudent with your resources; give sensibly and be careful of wastefulness. Our leaders are only examples when we're looking for bad ones.

A CULTURE OF ECONOMIC MYOPIA.

We never saved for the rainy days. We never even believed in it. Now the rainy days are here. Our leaders never believed oil price will drop to this level. ..it at even get worse....we never saved....Federal government never saved; state governments never saved....It was stomach, meagre houses and mundane politics.

The only miracle that saved Egypt and Canaan during the times of hunger and famine in the land of Egypt was the saving culture that Joseph advised the land to undertake. Only fools spend all their resources. After every 7 years of economic expansion, there's almost always 7 years of economic strangulation and hunger. We never prepared....even ants are more proactive than our leaders.

As an individual, the best time to save is when you're doing well and getting money. How far you'll go financially depends on how well you manage your resources drying the first 5 or so years of work. Save and invest a part of your income. Don't be like Nigerian leaders. Be smart with your money. A part of all you earn is YOURS to keep. It doesn't matter how much you earn; you still must save something from your pay or business. You've got to learn to save.

Those who refuse to heed the mistakes of the past are doomed to repeat them. Increase your sources of income; it's all within you. Look around. Reduce your expenses; control your appetite. Plan for tomorrow.

Lalasticalala, money is too important to be left uncontrolled.

Buharis economic policies are ruining the economy.Soludo and Sanusi have both condemned them

grandstar:


Buharis economic policies are ruining the economy.Soludo and Sanusi have both condemned them

I agree.......PMB has zeal but the knowledge is missing on how to push the economy forward. We are only advised to learn from the system's mistakes and make amends in our personal finance.

dearpreye:


Sadly we don't value education....or at beat we've equated it to money. ....but education is the foundation....We've got issues at hand as as a people. ...where are the vocational schools?

I feel we don't value education anymore...let me tell also tell you that there is another dangerous situation we have found ourselves but it seems we dont see the danger and that is the danger of using nysc members as teachers in secondary schools all around the country....i mean are we serious at all? A lot these present graduates are from these universities in which there are lots of question marks..yet they are posted to secondary schools(public) to go and teach whatever is in their head when they are not even trained to teach! Also there is also the issue of continuity as youth service is for a year..which means my English teacher from jss 1 to ss 3 is likely to be six

Oga Lalasticlala na your hand e dey
more people should read this.

Insightful peice. Now is the time to mix wisdom wIth discipline.

Rose2014:
Oga Lalasticlala na your hand e dey
more people should read this.

Good morning. Let's hope many will heed these lessons. The times call for extreme prudence. Thanks.

Nice one dearpreye. May God continually increase you intellectually!

Dearpreye one of the best mind of nairaland.
It is appalling that the failure of a few useless individuals called leaders of yesteryears is now the collective failure of the citizenry as a country.... Very sad indeed.

Well I have never hidden my joy on the crash of crude oil because this will be our defining moment as the commodity that binds us together is finally becoming worthless.
Lets see if the country holds together, Lets see if fiscal federalism is not the way to reach our far vast economic resources, Lets see which part of the divide is willing to fund/feed the country for another 50yrs.

The psychology of the average black African is battered and shattered hence there leaders looting there resources to better foreign lands.

No single natural resource necessary to build a first class civilization is lacking in Africa in fact the Caucasians mostly built there country's with our resources exploited centuries ago till date.

To say that I'm ashamed of the black race is an understatement and to say that I am Nigerian is a crime to humanity.

kennyman2000:
Nice one dearpreye. May God continually increase you intellectually!

Wow! Thanks. I wish you the same. Have a great day ahead.

Observant:
Dearpreye one of the best mind of nairaland.
It is appalling that the failure of a few useless individuals called leaders of yesteryears is now the collective failure of the citizenry as a country.... Very sad indeed.

Well I have never hidden my joy on the crash of crude oil because this will be our defining moment as the commodity that binds us together is finally becoming worthless.
Lets see if the country holds together, Lets see if fiscal federalism is not the way to reach our far vast economic resources, Lets see which part of the divide is willing to fund/feed the country for another 50yrs.

The psychological of the average black African is battered and shattered hence there leaders looting there resources to better foreign lands.

No single natural resource necessary to build a first class civilization is lacking in Africa in fact the Caucasians mostly built there country's with our resources exploited centuries ago till date.

To say that I'm ashamed of the black race is an understatement and to say that I am Nigerian is a crime to humanity.

It's actually a sad story. By refusing to stone the wicked leaders, we simply emboldened them in their effrontery to continue insulting us and looting our resources to no end. Our collective poverty and suffering is the price we pay for our collective nonchalance and indifference.

It's the duty of the people to insist their leaders deliver. Governance is very serious business. Everyone's got their part in it.

Let's see what the crude oil crash means for us as a country. We never saved. We never planned for even 50 years.

Yes. Africa has it all, except demonic leaders. A clement weather; no winter, enough land masses, a virile youthful population, with 20% of the world's arable lands located therein, oh my goodness!!! Nothing to show for.....shame.

But on a personal level, you can still create a somewhat mini heaven for ourselves and loved ones by heeding the mistakes of the past.

NoreenUG:


lol.
to tell u the truth, the government shouldn't even put more money on ANY kind of minerals anymore, even though I agree with u that buhari represents a special brand of sttupid.

spending the little we have on EXTRACTIVE TRADE (whether it's solid or liquid minerals) IN THIS DAY AND AGE, will do nothing but reinforce the SAME culture of laziness we've been swimming in for over 50 years.

Any progressive country would tell you, that the ONLY type of minerals we should be tapping into right now, are the INTELLECTUAL MINERALS, and this can only be acheived by investing in EDUCATION - Academic, Technical and Artisan.

The 21st century runs on INNOVATION, and the only way we can compete is through EDUCATION.

Minerals didn't build Apple. The brain did.
Minerals didn't build Facebook. The brain did.
Minerals didn't build Hollywood. The creative mind did.
Minerals didn't build Silicon Valley. The brain did.
Minerals didn't build NASA. The brain did.
Hell, minerals didn't even DESIGN or INVENT the oil refinery. THE HUMAN MIND DID.

My brother, the ONLY sustainable natural resource is the HUMAN RESOURCE, and you can only mine it by investing in EDUCATION.

Even as the thread is an interesting one being discussed amiably some of you have to ruin it with your palpable bias against Mr.President which means you throw insults hollowly, ignorantly and needlessly when you actually need to give him credit. If you can conclude that commercial extraction and refining of solid minerals would be very expensive, cash intensive and economically counter-productive, in this 'cash crunch' period, for Nigeria then do you think the very intelligent men and women Buhari has empowered to lead the sector, like Fayemi, have not come to the same conclusion and planned for ways around it?

From day one Fayemi has made it crystal clear that the way forward is partnering with committed and capable investors who can provide the expertise and required capital which will help us develop our mining sector. Instead you must make it seem as if the Buhari government is an economically illiterate and archaically spendthrift one not smart enough to note this simple concept when indeed Fayemi makes it clear he is miles ahead of you in thinking. The reality is that some Nigerians, because of nothing but innate prejudice, will find it difficult to give credit to the current government whatever it does. Here you talk as if investment in education and human capacity development comes as the opportunity cost of an outdated mode of solid mineral sector development where government tries to finance expensive activities itself to the detriment of Nigeria.

The opposite is true and you are either being deliberately deceptive or just ignorant of the plans of Fayemi for the solid mineral sector he has reiterated many times. The mining sector will be developed with a modern model of financing and engagement running like PPP schemes, i.e public-private sector partnership, that will not tie up government cash/time which would then impede the development of other sectors. The main consideration is to enshrine more transparency, probity and clarity, plus improve relevant extant laws/legislation, that will minimise grey areas and bottlenecks keeping potential investors away from our solid minerals sector. Let us try and discuss honestly and truthfully in the search for solutions and not in ways that display our unobjective bias against others. below is an article where Fayemi articulates his plans for the mining sector. For the sake of brevity I have quoted some section which shows the relevant consideration i.e the thinking of the government in relation to the funding and running of the solid minerals sector. It may sit well with you to think so but the Government of Buhari is not full of 'slowpoke's who cannot see what 'brainy' you can observe. The Government of Buhari is actually led by many intelligent and visionary mind, who will have access to finest specialist advice, and have already moved beyond what you ungraciously think they are incapable of seeing.


http://thenationonlineng.net/our-plan-to-increase-minings-n400b-revenue-by-fayemi/

Our plan to increase mining’s N400b revenue, by Fayemi

He pledged to sanitise the solid minerals sector.

“We will work with stakeholders to review existing licences and bring them up to date where there are issues. Our goal is to get licensees, who are sitting on the fence to have sufficient confidence to start investing real capital.

“I was in Ajaokuta last week and we were so distraught by the time we left, that how could a nation do this to itself? Ajaokuta in itself is a city; it has an airport, seaport and 60 kilometres of internal rail. It has a rail from Ajaokuta almost to Warri and another linking it to Itakpe 60 kilometres. How do you invest this amount of resources and then you walk away from it?

“It is unacceptable to any sane human being and that is why for us, we just have to fix Ajaokuta. Unfortunately, the figures being quoted for fixing it is not a figure that the Nigerian state can come by easily.

“We have to figure out a creative and innovative way of ensuring that we partner with people who can make it happen so that we begin to deliver liquid steel and its products to our country,” he said.

evansvenus:
Nice write dearpreye, i am your fan!
My 2cents

we all keep talking about diversification of the economy,that's pretty cool,but we shouldn't forget that diversification would definately take time to yield result.nigeria economic outlook at the moment is gloomy and we apparently don't have time!

What i think the government should embark on

1.rapid development of our infrastructure,especially power which is pivotal to the development of any nation.nigeria should tap into wind and solar energy,we shouldn't be depending on hydro alone..in saner climes like south africa and taznzania,solar and wind adds thousands of mega watts to thier grids,its cheap and faster

2.Development of SME's is also a contributory factor to the development of any nation,we have an active youth population pegged at over 60million,yet our unemployment rate is growing spirally and exponentially,government should grant soft loans with little or no interest to boost small and medium scale enterprises,this will as well generate thousands of jobs that can get access to the loans,government can prompt beneficiaries of the loan to pay tax if they so please,but make it minimal!

3.Efficiency in our tax system...tho' you might want to disagree with me,but nigeria is one of the less tax countries in the world...britain majorly depends on their tax systems and its working for them,nigeria can key into it,is one of the proponents of income generation of any nation...naija should key into it too.

They are other measures the nigeria n government can take to cushion the effects of global economic downturn,but the aforemention would help on the long run!

Seems the FG has already keyed into your third point- more taxes. With the recent N50/transaction directive, what your say?

Lalasticlala. Let's move to the appropriate quarters.

jamesversion:
Insightful peice. Now is the time to mix wisdom wIth discipline.

Two vital traits sadly missing from our national values.

Lalasticalala, good evening.

dearpreye always making sense since time immemorial. I love that part where you said "control your appetite"