Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. - Politics (3)

Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. - Politics (3) - Nairaland

Nairaland Forum › Nairaland General › Politics › Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. (32820 Views)

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Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by donstevoz(m): 3:18pm On Apr 17, 2016

tuniski:
Long story typical of a no economic policy. The jargons of finance and economics only serve the elites and brokers of the economy not the masses.
In a simple layman's language : this govt Has no economic policy direction aggregated and codify in simple terms.
What we have is a curtail of confusion with conflicting underbellies. The question is therefore ; are we on welfarism/socialism or free enterprise and individual self actualization?

Before i engage you on whether this govt has economic policies or not, please i want you to tell me what the economic policies of the GEJ govt were so we can have an idea of what economic policies are.

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Nobody: 3:20pm On Apr 17, 2016

TPAND:
Stop making comparisons of Nigeria and Ethopia.

What is the Population of Ethiopia?
What value does Ethopia contribute to the World Trade Index
What is the worth of Ethopia's FOREX and Foreign Reserve
What is Ethopia's GDP

you can't compare this figures and pointers to that of Nigeria.

You guys should stop being gullible and suckers to every move made by Buhari.

j

You just need to use Google more and less of telemundo

1 Like

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Johnrake69: 3:21pm On Apr 17, 2016

tuale4u:
Donald Trump is divisive and d people love him. Only d establishment is fighting him.

Be that as it may, i dont believe or agree PMB is divisive. It is people like you who chose to fuel tribalism in d country.

Really? You just living in self denial. Who started the 97% and 5%?

1 Like

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Gext: 3:22pm On Apr 17, 2016

tuale4u:
Donald Trump is divisive and d people love him. Only d establishment is fighting him.

Be that as it may, i dont believe or agree PMB is divisive. It is people like you who chose to fuel tribalism in d country.

Trump is not going to win, sorry.,
Even he is smart enough not to divide Americans on the basis of voters.
He knows the most common fear that resonate through all Americans which is terrorism, and that has been the thrust of his campaign.

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by eitsei(m): 3:25pm On Apr 17, 2016

amtaken:
Why did Aisha Buhari have to wait for Buhari to travel to China before launching her beauty book?

Answer :

She knew that her husband wouldn't attend because he's grossly angry with her, so she waited till he travelled before fixing it so that his absence wouldn't be missed.

Omo see sense ooo!

She doesn't want Nigerians to know that she and Buhari's marriage has been in shambles ever since she was caught with Wale Tinubu in his yatch. Did you see her dressing in those circulated photos? Aisha that covers herself all the time exposed her bare shoulders and neck! Haba!

She's lucky that Bubu is frail and old, if not na 3rd wife straight.

Zombies don't quote me!!

smh.... Some people are really not gifted when it comes to using their head to think sad

2 Likes

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by melachima(m): 3:26pm On Apr 17, 2016

old gist, we don hear am since last year

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Chukzyfcb(m): 3:30pm On Apr 17, 2016

Now I understand what a pastor on youtube was saying.....There's nothing a black man can do without the white peoples help. Like Donald Trump suggested "AFRICA NEEDS TO BE RECOLONIZED" after reading this article, I understoood better. If not for the white peoples influx in south africa, I doubt if they would have achieved much.
China UK USA and all them top county should come down to 9ja and take over! I don't care anymore, after over 50yrs of independence, black man still isn't making progress. Making power generation be like rocket science, tufiakwa!

1 Like

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by robosky02(m): 3:33pm On Apr 17, 2016

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Nobody: 3:34pm On Apr 17, 2016

san316:
We are waiting to see how this will work
witches and wailers association.

The irony of this matter is that the antagonists of this administration stand to benfit from this initiative the most. I cant wait to see their reaction when the policy is up and running,

bunch of self destructive losers.

They won't. They are so consumed with hate and busy applauding those who sabotage the economy. By the time they wake up, all the opportunities have been soaked away. Did you notice that while businessmen and governments of Lagos, Kwara and Ogun were busy concluding agreements with their Chinese counterparts, our SS and SE people were busy throwing insults and preventing Amaechi from building railway in the area.

5 Likes 1 Share

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Deen77: 3:34pm On Apr 17, 2016

Gext:
But this country was doing better than Ethiopia in 2014.
Ethiopia replaced Nigeria as the fastest growing economy and largest FDI recipient in Africa just this year.
What has changed?
BTW, Nigeria has always been investment partners with China since the Jonathan Era.
So what is the noise about it now, like it is a special policy unheard of in this country's history.?

What makes us better ?, Oil only Oil, but Oil boom is over my brother, from $140 to $26/$40.

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Deen77: 3:36pm On Apr 17, 2016

donstevoz:
Before i engage you on whether this govt has economic policies or not, please i want you to tell me what the economic policies of the GEJ govt were so we can have an idea of what economic policies are.

Free Oil money from Oil boom, not building a refinery to stop importation.

2 Likes

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Deen77: 3:39pm On Apr 17, 2016

teepain:
God bless you, we should and must continue to clamour for true federalism but then we shouldn't reduce our debates to PDP versus APC. If the government succeeds we would benefit and if it fails we would have paid the price and then we can kick them out come 2019 but right now the government needs all our support regardless of political inclinations.

We are d one suffering from bad road to no light.

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by rusher14: 3:46pm On Apr 17, 2016

Gext:
Don't Compare my America to your country ever again.
There is no similarity whatsoever. We don't vote for divisive presidents and pseudo Democrats.

Even before the man became president you called him all sort of names.

You disliked him for being a northerner. For being a muslim. For being a general.

You are the divisive ones.

Till date there's never been a policy, plan, statement from the stable of the ruling government that has pleased you.

Rather you must find a fault even if it would be of benefit to you directly.

You lot are the tribalists.

Then you claim your America.

Anarchists looking for failure of their own kinsmen.

7 Likes

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by diegwu01: 3:48pm On Apr 17, 2016

DickTator1:
April 10th
Buhari travels to China to sign a $2B loan

April 17th
Buhari never signed any loan in China

wake me up when APC tells us the real reason Buhari went to China.

You can sleep till 2023, we are busy rebuilding Nigeria's econony, we dont want distractions. grin

4 Likes

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by donstevoz(m): 3:50pm On Apr 17, 2016

I am happy there are still people that understand this government and the path it is taking very well. I keep telling people that economic management is not rocket science. No matter how sound a govt`s economic policies are, not much can be achieved if there is no money to finance the policies.

1 Like

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by ItzChinnex(m): 3:51pm On Apr 17, 2016

Keep deceiving your selves . China has no good intentions for Nigeria.

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by diegwu01: 3:57pm On Apr 17, 2016

Chukzyfcb:
Now I understand what a pastor on youtube was saying.....There's nothing a black man can do without the white peoples help. Like Donald Trump suggested "AFRICA NEEDS TO BE RECOLONIZED" after reading this article, I understoood better. If not for the white peoples influx in south africa, I doubt if they would have achieved much.
China UK USA and all them top county should come down to 9ja and take over! I don't care anymore, after over 50yrs of independence, black man still isn't making progress. Making power generation be like rocket science, tufiakwa!

We are a growing country, we cant stand alone at the moment, Our minds are too dark and filled with hate.

1 Like

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by nortcentrallord(m): 4:00pm On Apr 17, 2016

tuale4u:
[size=14pt]Buhari Economic policy is very sound and Pragmatic[/size]

The truth is dat this Buhari govt actually had d most well defined economic policy in d last 10years. A good acronym to define and sumarise Buhari economic policy is DOTE ( Diversification Of The Economy)

The economy policy is so clear. Yet many people just shout for nothing because they dont understand the meaning of economic policy. Budget is d major part of economic policy. And this 2016 Budget is d most well defined economic policy in d last 10 years that try to integrate every strata of d country.

Below are d economic policy of Buhari govt:
Note: These are not Campaign promise. These are things already in d aprroved Budget by NASS.

1. Job creation through massive infrastructural projects worth over 1.5trillion naira. This is d first time in Nigeria history infrastructure will be more than 1 trillion naira. These include massive spending on rail, road, power, housing and airport.

2. Poverty reduction through social intervention. This includde 23000 to 25000 naira per month for 500,000 graduate volunteer teachers. 50000 naira each to 1 million market women. etc

3. Extreme poverty management and social integration and intervention through 5000 naira stipend to 1million Extreme poor widow , handicapped and aged people. Feeding of over 4Millions pupil one meal a day from primary 1 to 3.

4.Diversification through Agriculture and solid minerals. The govt has already sign alot of MOU with many countries on these regard. This is one of d reason d president have b travelling alot. This is aim at import substitution which will help to save foreign exchange and boost naira stability.

5. On d monetary policy, d govt monetary police is saving Forex for essential commodities. Thus dual exchange rate. 199 for essential goods and 325 for non essential goods. This policy is well defined and deliberate by d govt. Usually all over the world, monetary policy are dynamic and not static. Expecially in d aspect of money supply. Most times, monetary policy is reactive rather than proactive all over the world. so monetary policy could be changing per quarter in Minor details. But the main Objective is stable for atleast 6 months. The main Objective of dis govt foreign exchange policy is saving foreign exchange for critical and real sector of d economy.

6. Nigeria China $6billion investment agreement. This is the best form of foreign aid Nigeria has signed in the last 30 years. This model of agreement with china has be used successfully by Ethiopa. And Ethipia economy became strong as a result of it. I will like to thank Ngozi Okonjo Iweala for this. Most of these china agreement were initiated by Jonathan govt through initiative by Ngozi. However due to lack of political will on d side of Jonathan, these agreement were not implemented. In addition, we must commend Buhari for providing the required leadership that will ensure these agreements are implemented. Paraphrasing Nogozi Okonjo Iweala "sound technical tools and ideas is a waste without strong political will". We must understand that the $6billion deal with china is not a loan in d true sense of it. Most of the project will be done on "Build, Operate and Transfer". That means the projects after being completed are expected to generate some part of the investment.

* To those opposing the social intervention/welfare for the poor in this economic policy should re examine thier position. America with the highest form of capitalism in the world, still have welfare and socialist input like food stamp, some free basic healthcare in public hospital, foster homes for children, some homes 4 homeless people, cheap public schools etc. We must understand dat a society that does not have any regard for the poor can not have peace. The rich in such society will continue live in perpetual fear with high fence, bullet proof door, etc as we have in Nigeria today.

Below is definition of Economy policy

http://www.cliffsnotes.com/study-guides/economics/introduction/economic-policy

From the definition above it is clear d govt have economic policy clearly defined.

1. Spending and Taxation: The govt spending plan is clearly defined by d Budget. A deficit budget with about 1.5 trillion on Insfracstructure. In terms of Taxation, the govt have clearly make thier priority the increasing of tax base to more companies, persons and product. This has clearly be shown with d plan recruitment of 1250 professional staff by FIRS.

2. Distrubution of income from Rich to the poor: This part of economic policy, is clearly shown in d budget with the 500 billion social intervention fund. This will be used for 500,000 vokunteer graduate teachers, 1million exreme poor widow and aged, 1 million market women with 50k granr each and d 370,000 training of artisans.

3.Supply of Money. This means monetary policy including forex. This govt have deliberate choose to use dual exchange exchange as a way of preventing rapid decline of foreign reserves. Thus by so doing, d future is protected. It is an indirect saving technique.

Below is Well defined Medium term Economic plan of this govt.

http://thenationonlineng.net/jobs-cash-coming-govt-plans-n350b-revival-pill/

The question now should be how far can this govt implement this economic policy? We may have to wait till June 2017 to December 2017 to clearly say whether they failed, or succeeded or are in d right direction.

Before now, we were the fastest growing economy, what happened over the last few months?

A Lot of politicians 'v returned a lot of looted funds according to this administration to the tune of Billions of dollars yet we have to keep borrowing to stay afloat?

What is the difference between the last administration economic policies or even the one before the last one?

Implementation is the key. Nigerians are tired of hearing strategies with no actions or half actions. Every president of this country had good intentions from what we 'v hear but people around them are bad. I wonder if the president's are babies being spoon fed. I just hope we don't sell this country to depth some day.

Right now, Cbn is planning on increasing exchange rate because of inflation. When will out leaders start telling us the truth?

2 Likes

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by amtaken(f): 4:00pm On Apr 17, 2016

I thought I made it clear that zombies shouldn't quote me.

Tell me which of my statements was incorrect.

eitsei:
smh.... Some people are really not gifted when it comes to using their head to think

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by shamecurls(m): 4:01pm On Apr 17, 2016

Bad Sunday for wailers

Buhari till 2024

1 Like

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by omohj: 4:03pm On Apr 17, 2016

So 180million and 99million are now thesame thing he?

tuale4u:
Ethiopia is the second largest population in Africa after Nigeria.
Ethiopia 2015 population is estimated to be 99Million while Nigeria is about 180million. This makes Ethiopia a good comparison.

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Chukzyfcb(m): 4:08pm On Apr 17, 2016

diegwu01:
We are a growing country, we cant stand alone at the moment, Our minds are too dark and filled with hate.

Since 50years we have been growing. Its like having a 50year old in your house and telling people around, he/she is still a growing child. Its nt like we are to Invent anything. Just adopt, operate and maintain projects & infrastructure. We'v been trying to do that in 50yrs of independence. Forget it my man, we need massive western influence before we can make it from point a to point b.

1 Like

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by mandax: 4:13pm On Apr 17, 2016*

honourhim:
Nigeria signed a major deal with China this week as President Buhari made an important trip to visit its leader, Xi Ji Ping. Nigeria’s Foreign Minister, Godfrey Onyema, who accompanied Buhari on the trip to China, announced that the orient nation offered a $6 billion loan to Nigeria to fund infrastructure projects, one of the key areas Buhari promised to address with Nigeria’s 2016 Budget. This came as good news to many Nigerians as it now appears that Buhari has a clear economic policy. On the other hand, some Nigerians have expressed their reservations concerning this new development, claiming China was “scamming” Nigeria, a phrase that became an hashtag on social media this morning. However, what Nigerians can do is look at precedents i.e. China’s similar investment in other African countries, particularly Ethiopia.

Ethiopia has recently gained continent-wide fame for its development and achievements in the past few years. The country is one of the world’s fastest growing economies now, Africa’s fastest growing economy, thanks to government spending (tax driven) and Chinese investment. Ethiopia launched the first light rail system, in Sub-Saharan Africa in 2015 which links its capital, Addis-Ababa, to the neighbouring country, Djibouti. Africa’s current biggest economy and second biggest, Nigeria and South Africa respectively, cannot boast of one.

The responsibility for this light rail, which cost $3bn to build, was taken up by China after the World Bank and other Western donors had shown a reluctance to fund the project, to the surprise of Getachew Betru, the head of Ethiopia’s Railway Corporation. China not only constructed it, but provided most of the funding for it. The train, which was initially built to counter the challenges that Ethiopia’s drought this year would pose, has received an expanded vision. It has now acquired a Pan-African vision; it will expand to run through South Sudan, Sudan, Kenya and other East African countries. This move will surely see Ethiopia emerge as an economic hub in East Africa.

Nigeria seems to be taking a cue from Ethiopia and China. It plans to build a similar one which will run from its southern states to Lagos, its commercial hub. This project is going to be financed by China and is set to help the economic development of the country’s marginalised southern region greatly. However, projects like this need to be supplied with adequate power, something Nigeria does not yet have, but this is not so for Ethiopia. It recently announced that it made $123 million dollars as profit from the sale of electricity both at home and abroad to Djibouti, Kenya and Sudan, while also establishing links to five other East African countries. These have been done all through the help of Chinese electrical transformers.

Ethiopia also recently announced that its Grand Ethiopian Renaissance Dam will be completed in 2017. This dam will supply 6,000 megawatts of electricity, even larger than the whole of Nigeria’s present power capacity of about 5,000 megawatts. That number would make the dam Africa’s largest hydroelectric project and Nigeria could surely do with something like this.

Buhari, during his visit, promised China that all projects started by Nigeria’s former administrations will be completed under his tenure. Though this deal could see the influx of Chinese expatriates into the nation, it seems there is no cause for alarm about China ‘stealing Nigerian jobs.’ According to China’s ambassador to Ethiopia and the African Union, La Yifan, in 2015, “the best way to contribute to human rights is creating jobs and alleviating poverty,” The rate of Chinese expatriates to jobs created for Ethiopians is 1 to 20. And this has seen unemployment rate in the country decrease from 20.4 percent in 2009 to 16.8 percent in 2015, and is set to further reduce with the job potentials of the completed rail system and electricity grid.

Though, Nigeria’s inclusion of the Chinese Yuan in its foreign exchange currencies may not “crash the dollar” as some Nigerian media houses have reported, it would go a long way in creating a path for Chinese-built infrastructure in Nigeria, without the cumbersomeness of dollar rates. Ethiopia is Africa’s second largest population and land-locked too. Nigeria which has the highest population and is not land locked should definitely not be doing worse than Ethiopia if it wants to live up to its title as “Africa’s largest economy.” If Nigeria wants to truly diversify its economy, building its infrastructures is essential and it seems China is the best to partner with.

http://venturesafrica.com/why-ethiopias-
rise-in-the-past-few-years-should-give-hope-to-nigeria/

Gees, you refused to tell your readers that Ethiopia carried out necessary political reforms, like voting for and embracing fiscal federalism, even voted for and included Groups Right to Secession in the Ethiopian constitution.

Where do you think China can take Nigeria burdened with a most parasitic political structure and a debilitating type of unitary government system to?
Bamboozle your most gullible readers with forlorn hope that China is going to do miracles for Nigeria.

Nigeria's dysfunctional unitary government system and parasitic political structure are reasons why after about $1 trillion earned from oil in about fifty years, Nigerian leaders weren't able to provide common electricity, pipe borne water, stable fuel supplies at the petrol stations, and above all, political stability.

China to do wonders for you? Na today?

1 Like

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Gext: 4:18pm On Apr 17, 2016

rusher14:
Even before the man became president you called him all sort of names.

You disliked him for being a northerner. For being a muslim. For being a general.

You are the divisive ones.

Till date there's never been a policy, plan, statement from the stable of the ruling government that has pleased you.

Rather you must find a fault even if it would be of benefit to you directly.

You lot are the tribalists.

Then you claim your America.

Anarchists looking for failure of their own kinsmen.

Sorry, I really don't know what you are talking about.
I don't need to like a president. Obama is not liked by all Americans which is expected.
That does not give the president the right to be divisive.
It is my right as an electorate in a democratic society not to like a president for whatever reason. It is his duty to win me over, not bully me to submission.

2 Likes

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by grandstar(m): 4:18pm On Apr 17, 2016

tuale4u:
Ethiopia is the second largest population in Africa after Nigeria.
Ethiopia 2015 population is estimated to be 99Million while Nigeria is about 180million. This makes Ethiopia a good comparison.

That country's very poor so no comparison

Like comparing Canada and Poland

1 Like

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by pheliciti: 4:22pm On Apr 17, 2016

Gext:
Fiscal federalism briefly is autonomous States taking charge of their vehicles of production. It invariably confers adequate economic power on the states without backward federal oversight and bottleneck.
Bayelsa is a poor state because it has been rendered a mere giant oil well pumping oil for parasites and dictators.
The state does not have the wherewithal or legal standing to add value to its own resources how best it see fit, because the National budget is hanging on how much oil is sold.
And yes, you are chasing shadows if you believe a divisive president will take you to the promise land in eight years.
You are chasing shadows if you believe the enemy of your country are fellow citizens like you who see the president as hopeless and rightly so.
A president whose legacy after a brief eight years would be a couple of road projects and a highly divided country on the brink.
And no, you do not own shitt in your country. You can't even get fuel to power your generators.

Unfortunately, fiscal federalism does not mean a State controls all it generates, taxes would always be due to the center. Need i say, total control by federating units does not exist in a federalism. Perhaps you want us to go the way of confederalism?
Before then, note that the areas with resources get 13% of resources from their areas as a 1st line charge on the earnings from their areas and the littoral offshore abutting. This is different from the statutory share with other states and local government areas. At the end of the day, a state like Bayelsa would have earned close to 20% of revenue from its region. What have they done with it so far? A comparison is the fact that Western Region made all it's strides in the 1st Republic based on 50% retention of agric earnings, not nearly as much compared with what Bayelsa earns today.
You claim the President is divisive and you are entitled to your opinion. However, at times we should look at the man in the mirror. Do you hate him because he's Fulani? Then you are equally divisive. As a parallel, there's a 2009 judgement for the clean up of the Niger Delta which GEJ didn't compel the oil companies to obey in his years in office. Yet the man you termed divisive has started the clean up process. Check the man in the mirror again.
I don't see him as divisive and i have implicit trust that if any set of Nigerians can turn this country around, then Buhari & Osinbajo would be among them. I will support them and I'm sure it won't be just 2 rail projects we'll get.
Even at that, don't despise the power of multipliers e.g. the economic activities that Lagos-Kano/Lagos-Calabar rail line will bring. Just look historically about how a rail line to Jos created whole new cities. On your contemporary level, come to Lekki and see how a 1.1km bridge has multiplied prosperity in the area.
As to your comment about getting fuel for my generator, i can only say our needs are different; i don't play at the level of lining up at the filling station for fuel so i can't engage with you on that.

1 Like

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Pidggin(f): 4:25pm On Apr 17, 2016

tuale4u:
[size=14pt]Buhari Economic policy is very sound and Pragmatic[/size]

The truth is dat this Buhari govt actually had d most well defined economic policy in d last 10years. A good acronym to define and sumarise Buhari economic policy is DOTE ( Diversification Of The Economy)

The economy policy is so clear. Yet many people just shout for nothing because they dont understand the meaning of economic policy. Budget is d major part of economic policy. And this 2016 Budget is d most well defined economic policy in d last 10 years that try to integrate every strata of d country.

Below are d economic policy of Buhari govt:
Note: These are not Campaign promise. These are things already in d aprroved Budget by NASS.

1. Job creation through massive infrastructural projects worth over 1.5trillion naira. This is d first time in Nigeria history infrastructure will be more than 1 trillion naira. These include massive spending on rail, road, power, housing and airport.

2. Poverty reduction through social intervention. This includde 23000 to 25000 naira per month for 500,000 graduate volunteer teachers. 50000 naira each to 1 million market women. etc

3. Extreme poverty management and social integration and intervention through 5000 naira stipend to 1million Extreme poor widow , handicapped and aged people. Feeding of over 4Millions pupil one meal a day from primary 1 to 3.

4.Diversification through Agriculture and solid minerals. The govt has already sign alot of MOU with many countries on these regard. This is one of d reason d president have b travelling alot. This is aim at import substitution which will help to save foreign exchange and boost naira stability.

5. On d monetary policy, d govt monetary police is saving Forex for essential commodities. Thus dual exchange rate. 199 for essential goods and 325 for non essential goods. This policy is well defined and deliberate by d govt. Usually all over the world, monetary policy are dynamic and not static. Expecially in d aspect of money supply. Most times, monetary policy is reactive rather than proactive all over the world. so monetary policy could be changing per quarter in Minor details. But the main Objective is stable for atleast 6 months. The main Objective of dis govt foreign exchange policy is saving foreign exchange for critical and real sector of d economy.

6. Nigeria China $6billion investment agreement. This is the best form of foreign aid Nigeria has signed in the last 30 years. This model of agreement with china has be used successfully by Ethiopa. And Ethipia economy became strong as a result of it. I will like to thank Ngozi Okonjo Iweala for this. Most of these china agreement were initiated by Jonathan govt through initiative by Ngozi. However due to lack of political will on d side of Jonathan, these agreement were not implemented. In addition, we must commend Buhari for providing the required leadership that will ensure these agreements are implemented. Paraphrasing Nogozi Okonjo Iweala "sound technical tools and ideas is a waste without strong political will". We must understand that the $6billion deal with china is not a loan in d true sense of it. Most of the project will be done on "Build, Operate and Transfer". That means the projects after being completed are expected to generate some part of the investment.

* To those opposing the social intervention/welfare for the poor in this economic policy should re examine thier position. America with the highest form of capitalism in the world, still have welfare and socialist input like food stamp, some free basic healthcare in public hospital, foster homes for children, some homes 4 homeless people, cheap public schools etc. We must understand dat a society that does not have any regard for the poor can not have peace. The rich in such society will continue live in perpetual fear with high fence, bullet proof door, etc as we have in Nigeria today.

Below is definition of Economy policy

http://www.cliffsnotes.com/study-guides/economics/introduction/economic-policy

From the definition above it is clear d govt have economic policy clearly defined.

1. Spending and Taxation: The govt spending plan is clearly defined by d Budget. A deficit budget with about 1.5 trillion on Insfracstructure. In terms of Taxation, the govt have clearly make thier priority the increasing of tax base to more companies, persons and product. This has clearly be shown with d plan recruitment of 1250 professional staff by FIRS.

2. Distrubution of income from Rich to the poor: This part of economic policy, is clearly shown in d budget with the 500 billion social intervention fund. This will be used for 500,000 vokunteer graduate teachers, 1million exreme poor widow and aged, 1 million market women with 50k granr each and d 370,000 training of artisans.

3.Supply of Money. This means monetary policy including forex. This govt have deliberate choose to use dual exchange exchange as a way of preventing rapid decline of foreign reserves. Thus by so doing, d future is protected. It is an indirect saving technique.

Below is Well defined Medium term Economic plan of this govt.

http://thenationonlineng.net/jobs-cash-coming-govt-plans-n350b-revival-pill/

The question now should be how far can this govt implement this economic policy? We may have to wait till June 2017 to December 2017 to clearly say whether they failed, or succeeded or are in d right direction.

Why are we repaying the contract in dollars, not in Naira or Yuan?

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Heffalump(m): 4:33pm On Apr 17, 2016

tuniski:
Long story typical of a no economic policy. The jargons of finance and economics only serve the elites and brokers of the economy not the masses.
In a simple layman's language : this govt Has no economic policy direction aggregated and codify in simple terms.
What we have is a curtail of confusion with conflicting underbellies. The question is therefore ; are we on welfarism/socialism or free enterprise and individual self actualization?

IPOB on the loose again! I command be thou chained forever and be quiet. Amen. Haha haha. ... grin

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by grandstar(m): 4:35pm On Apr 17, 2016

tuniski:
Long story typical of a no economic policy. The jargons of finance and economics only serve the elites and brokers of the economy not the masses.
In a simple layman's language : this govt Has no economic policy direction aggregated and codify in simple terms.
What we have is a curtail of confusion with conflicting underbellies. The question is therefore ; are we on welfarism/socialism or free enterprise and individual self actualization?

The epic fuel scarcity the biggest indicator that this government's clueless

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Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Lezzlie(m): 4:37pm On Apr 17, 2016

tuale4u:
Ethiopia is the second largest population in Africa after Nigeria.
Ethiopia 2015 population is estimated to be 99Million while Nigeria is about 180million. This makes Ethiopia a good comparison.

Nope, it doesn't!!!

Ethiopia's economy is still about $120 billion or there about. it's GDP par capita is laughable, its PPP doesn't need to be written in print.

Her population isn't suppose to be the basis for comparison!

China is Just another neocolonialist like the West. And her economic growth has been based on the proliferation of Africa's raw materials.

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by mandax: 4:41pm On Apr 17, 2016

pheliciti:
Unfortunately, fiscal federalism does not mean a State controls all it generates, taxes would always be due to the center. Need i say, total control by federating units does not exist in a federalism. Perhaps you want us to go the way of confederalism?
Before then, note that the areas with resources get 13% of resources from their areas as a 1st line charge on the earnings from their areas and the littoral offshore abutting. This is different from the statutory share with other states and local government areas. At the end of the day, a state like Bayelsa would have earned close to 20% of revenue from its region. What have they done with it so far? A comparison is the fact that Western Region made all it's strides in the 1st Republic based on 50% retention of agric earnings, not nearly as much compared with what Bayelsa earns today.
You claim the President is divisive and you are entitled to your opinion. However, at times we should look at the man in the mirror. Do you hate him because he's Fulani? Then you are equally divisive. As a parallel, there's a 2009 judgement for the clean up of the Niger Delta which GEJ didn't compel the oil companies to obey in his years in office. Yet the man you termed divisive has started the clean up process. Check the man in the mirror again.
I don't see him as divisive and i have implicit trust that if any set of Nigerians can turn this country around, then Buhari & Osinbajo would be among them. I will support them and I'm sure it won't be just 2 rail projects we'll get.
Even at that, don't despise the power of multipliers e.g. the economic activities that Lagos-Kano/Lagos-Calabar rail line will bring. Just look historically about how a rail line to Jos created whole new cities. On your contemporary level, come to Lekki and see how a 1.1km bridge has multiplied prosperity in the area.
As to your comment about getting fuel for my generator, i can only say our needs are different; i don't play at the level of lining up at the filling station for fuel so i can't engage with you on that.

Fiscal federalism has no two meanings. Do like the Ethiopians did, after which China came to Ethiopia and thus found the calm and right political atmosphere to take Ethiopia to the greater heights Ethiopia is in today.

Ethiopians ignored the fact that some areas of the country were with mineral resources more than other areas, yet they voted for fiscal federalism, which implies that every area must use what is found in the area to develop its people and land, then pay taxes to a lean central government.

But in Nigeria, Aboki soldiers proliferated twenty new states in northern Nigeria wrongly using land mass as criterion. Through these states, Aboki sucks up most of Nigeria's oil revenues and use accruing political over-representation from these states to lord it to rest of Nigeria.

Re: Like Ethiopia, Like Nigeria: How China Helped Ethiopia Economy. by Nobody: 4:43pm On Apr 17, 2016

modath:
Some people should be barred from accessing some of the facilities when they come alive!!

The Negative Nancy type of bad belle citizens should keep riding their messiah's locomotives when Light rails become the new normal since they insist on wailing like bush babies!!

Hero Lost, Life doesn't have to stop!!

They wail like bush babies indeed.I like d way she talks

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