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Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance - Politics (4) - Nairaland

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Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m): 10:51pm On May 24, 2016
banmee:
Take a cue from the American revolution. These were people who lived in a colony and banded together to become a nation. They were inherently good people and because of that, they created a great country out of nothing. They also created their own system of government. When good people gather together you eventually come up with something good. Same for bad people. What Nigeria needs right now is not a new system of Government, but a reset button. The way it is at the moment, nothing will ever change. In fact it will get worse. The mindset of the average Nigerian is so jacked up that generations to come are already programmed a certain phucked up way.
U.S. don't and has never practiced "unitary" system of government Nigeria practices. Each states are autonomous. With statutory laws and constitutions that varies from state to state, based on their unique needs.
Our colonialists and pioneer leaders bequeathed us with decentralised regional system, because of their knowledge of the vastness of our resources and the diversity of our people. To better maximize our productive capabilities.
The people to blame are the useless military, whom, in 1966 designed this unitary anomalies that have been failing us since. Until we reverse to our decentralised founding foundation, this country will never maximize its potentials. No amount of patchwork will do. The structures will not hold, Until the foundation is realigned.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 10:56pm On May 24, 2016
rexzqcom:
U.S. don't and has never practiced "unitary" system of government Nigeria practices. Each states are autonomous. With statutory laws and constitutions that varies from state to state, based on their unique needs.
Our colonialists and pioneer leaders bequeathed us with decentralised regional system, because of their knowledge of the vastness of our resources and the diversity of our people. To better maximize our productive capabilities.
The people to blame are the useless military, whom, in 1966 designed this unitary anomalies that have been failing us since. Until we reverse to our decentralised founding foundation, this country will never maximize its potentials. No amount of patchwork will do. The structures will not hold, Until the foundation is realigned.
Nigeria does not practice a unitary system of government. Unless i am mistaken, we practice the federal system of government. Britain practices a unitary system and i think Ghana, not us. Our system is mirrored slightly with what the United states does. Big difference is we don't have a state police. The only reason it seems that way is because of our dependence on oil and the incompetence of state governments who don't have a clue about governance.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m): 11:04pm On May 24, 2016
banmee:
Nigeria does not practice a unitary system of government. Unless i am mistaken, we practice the federal system of government. Britain practices a unitary system and i think Ghana, not us. Our system is mirrored slightly with what the United states does. Big difference is we don't have a state police. The only reason it seems that way is because of our dependence on oil and the incompetence of state governments who don't have a clue about governance.
Since you don't know all Nigeria States budgets are funded by allotments and allocations from Abuja. And that the fed control economic generating resources of the states, it will be unnecessary to continue conversations with you. Bye
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 11:08pm On May 24, 2016
rexzqcom:
Since you don't know all Nigeria States budgets are funded by allotments and allocations from Abuja. And that the fed control economic generating resources of the states, it will be unnecessary to continue conversations with you. Bye
And since you don't know that the states are supposed to generate their own revenue but because of their stupidity and lack of knowledge, plus their over dependence on the federal government and oil, I see no point in trying to educate you. Bye.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m):
banmee:
And since you don't know that the states are supposed to generate their own revenue but because of their stupidity and lack of knowledge, plus their over dependence on the federal government and oil, I see no point in trying to educate you. Bye.
The states cannot efficiently generate resources of sustainance when federal government monopolize ownership of states economic resources as national cake. States need to control their resources then pay taxes and royalties to federal government.
Can't accused states of laziness, when federal government encourages it by paying them statutory entitlements. The national cake concept is an economic "unitary" system. Regardless of what they choose to name it.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 11:58pm On May 24, 2016
rexzqcom:
The states cannot efficiently generate resources of sustainance when federal government monopolize ownership of states economic resources as national cake. States need to control their resources then pay taxes and royalties to federal government.
Can't accused states of laziness, when federal government encourages it by paying them statutory entitlements. The national cake system is an economic "unitary" system. Regardless of what they choice to name it.
So, let me get this straight. Just because you have your own definition of what kind of system Nigeria operates does not mean Nigeria does practice a federal system. Which is why it's called "the federal republic of Nigeria". Just because it's leaders don't know what the phuck they are doing is no one's fault but theirs. And by the way, the federal government does not control how they generate revenue except for oil. This why you hear that the chinese are partnering with one state or the other. On the subject of controlling oil, the U.S government can come to your land and force you out if they need the resource there. So it is not new or uncommon. The only difference is if the U.S government does do that, they will make use of the revenue is a responsible way unlike Nigeria.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m): 12:14am On May 25, 2016
banmee:
So, let me get this straight. Just because you have your own definition of what kind of system Nigeria operates does not mean Nigeria does practice a federal system. Which is why it's called "the federal republic of Nigeria". Just because it's leaders don't know what the phuck they are doing is no one's fault but theirs. And by the way, the federal government does not control how they generate revenue except for oil. This why you hear that the chinese are partnering with one state or the other. On the subject of controlling oil, the U.S government can come to your land and force you out if they need the resource there. So it is not new or uncommon. The only difference is if the U.S government does do that, they will make use of the revenue is a responsible way unlike Nigeria.
U.S. government does not control states natural resources. States does. Except when the resources are in federal reserves or off-shores. Even, individuals can and do obtained certificates of land ownership and minerals right simultaneously or separately from their states. Issues of eminent domains for federal land use differ significantly from resources exploitation purposes.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 12:38am On May 25, 2016
rexzqcom:
U.S. government does not control states natural resources. States does. Except when the resources are in federal reserves or off-shores. Even, individuals can and do obtained certificates of land ownership and minerals right simultaneously or separately from their states. Issues of eminent domains for federal land use differ significantly from resources exploitation purposes.
I said they can if they want to. Read my comment again. If they need your land they can take it away from you. They don't because they don't have to. They have a tax system which they use effectively so they don't have to.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m):
banmee:
I said they can if they want to. Read my comment again. If they need your land they can take it away from you. They don't because they don't have to. They have a tax system which they use effectively so they don't have to.
Of course they can. But not without adequate compensations. In cases of regulated minerals like uranium for example. The individuals bearers of the land minerals rights will continue to be compensated based on productions from the land at pre determined compensatory rates. That is not confiscation as your statement implied
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 1:01am On May 25, 2016
rexzqcom:
Of course they can. But not without adequate compensations. In cases of regulated minerals like uranium for example. The individuals bears of the land minerals rights will continue to be compensated based on productions from the land at pre determined compensatory rates. That is not confiscation as your statement implied
I don't know what your argument is. First you said they can't. Now you say the can. You are not dealing with Nigerians. Of course they will compensate you but if you refuse the compensation, they will take it by force.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m): 1:12am On May 25, 2016
banmee:
I don't know what your argument is. First you said they can't. Now you say the can. You are not dealing with Nigerians. Of course they will compensate you but if you refuse the compensation, they will take it by force.
They only can for exploration and exploitation of regulated minerals. Due to sensitive to what they are used for. Not for every other minerals. Federal government can't kick minerals rights owners from land because it want to exploit the oil, gold or silver in the land. The Fed is not the one who granted the rights. The states does.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 1:14am On May 25, 2016
rexzqcom:
They only can for exploration and exploitation of regulated minerals. Due to sensitive to what they are used for. Not for every other minerals. Federal government can't kick minerals rights owners from land because it want to exploit the oil, gold or silver in the land. The Fed is not the one who granted the rights. The states does.
I hope you know that the answers I am giving you are not Google answers. This is something I have experienced first hand.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m): 1:19am On May 25, 2016
banmee:
I hope you know that the answers I am giving you are not Google answers. This is something I have experienced first hand.
So do I. Have years of experience in real estate business. Yours experience can be different from mine due to the variability of states laws, rules and regulations.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 1:23am On May 25, 2016
rexzqcom:
So do I. Have years of experience in real estate business. Yours experience can be different from mine due to the variability of states laws, rules and regulations.
Which state are you talking about?
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m): 1:27am On May 25, 2016
banmee:
Which state are you talking about?
The lone star state.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 1:30am On May 25, 2016
rexzqcom:
The lone star state.
I highly doubt that. I am an engineer and from what I've seen and the projects I have handled, their is no freaking way that's possible. We walk in and take what we need.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m): 1:37am On May 25, 2016
banmee:
I highly doubt that. I am an engineer and from what I've seen and the projects I have handled, their is no freaking way that's possible. We walk in and take what we need.
You doubt what exactly?
Who do you work for? Fed? Military?
What state are you at?
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 1:39am On May 25, 2016
rexzqcom:
You doubt what exactly?
Who do you work for? Fed? Military?
I have done both.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m): 1:44am On May 25, 2016
banmee:
I have done both.
Sure your activities were limited to military bases and federal reserves lands. Otherwise the very military Texas militias would have had bloody showdown with you.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 1:50am On May 25, 2016
rexzqcom:
Sure your activities were limited to military bases and federal reserves lands. Otherwise the very military Texas militias would have had bloody showdown with you.
Are you sure you live in the U.S? We are not talking about Nigeria you know. The law is the law. How many show downs have you seen happen? I said I have done it as a civilian as well as a soldier
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m): 1:59am On May 25, 2016
banmee:
Are you sure you live in the U.S? We are not talking about Nigeria you know. The law is the law. How many show downs have you seen happen? I said I have done it as a civilian as well as a soldier
Now am doubting the veracity of your claims.
If you don't know of the federal and militias standoff
earlier this spring in the Northwest wilderness of Seattle, Washington and Portland Oregon corridors. Lasted for months. Yes, there were casualties on both sides.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 2:05am On May 25, 2016
rexzqcom:
Now am doubting the veracity of your claims.
If you don't know of the federal and militias standoff
earlier this spring in the Northwest wilderness of Seattle, Washington and Portland Oregon corridors. Lasted for months. Yes, there were casualties on both sides.
I said how many. One or two incidences does not constitute a pattern. For example, there are crimes in the U.S but that does not mean the U.S is not a safe country. See what I mean? Just because that happened does not mean it is the norm. At the end of the day, the law/the govt would still hold sway.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m): 2:25am On May 25, 2016
banmee:
I said how many. One or two incidences does not constitute a pattern. For example, there are crimes in the U.S but that does not mean the U.S is not a safe country. See what I mean? Just because that happened does not it is the norm. At the end of the day, the law/the govt would still hold sway.
Not many, and that's because everyone knows, respect, and obeys the laws. In the few occasions Fed overreach it limits or citizens trespasses. Corrective measures becomes inevitable. Most incidences have been precipitated by citizens activists like Ruby Ridge groups and Republic of Texas activists groups trying to force the hands of federal government to release designated reserves lands for statutory uses. Not the other way around.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 2:34am On May 25, 2016
rexzqcom:
Not many, and that's because everyone knows, respect, and obeys the laws. In the few occasions Fed overreach it limits or citizens trespasses. Corrective measures becomes inevitable. Most incidences have been precipitated by citizens activists like Ruby Ridge groups and Republic of Texas activists groups trying to force the hands of federal government to release designated reserves lands for statutory uses. Not the other way around.
Keep googling. Nothing beats personal experiences though. Have a good night.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by rexzqcom(m): 2:54am On May 25, 2016
banmee:
Keep googling. Nothing beats personal experiences though. Have a good night.
Hahaha. Lol you're hilariously funny. Bye
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by stevedre: 10:09am On May 25, 2016
banmee:
What is this cow worshiper talking about?
This is enough to get that person/cow banned. Moderators should wake up
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by banmee(m): 10:35am On May 25, 2016
stevedre:
This is enough to get that person/cow banned. Moderators should wake up
I already reported him. I think he is banned.
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by adconline(m): 10:51pm On May 26, 2016
oduastates:
What are they subsidising?
Mansions in Beverley Hills and St Tropez
Private jets in Abuja.
Million pound shopping trips in Harrods.
Nigeria stopped subsidising the masses in 2010( the day Jonathan got onto power.
Heavy taxation is part and parcel of socialist democracies like Sweden, Norway and Finland. Those are the countries that Nigeria should aspire to become. Not a neo liberal oligarchic state like America where over 60 million children go to bed hungry.
In your life and lineage after you, Naija can never become America.. Look how US treats its lowest citizens like the homeless and food stamp kings and queens and tell me how Naija pays workers like teachers and police??
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by Oasis111(m): 1:11am On May 29, 2016
shut up bushmeat eating boy
Re: Nigeria Is Headed For A 'full-blown Economic Crisis'- Yahoo Finance by UncleJJ(m): 4:45am On May 29, 2016
A shallow post that fails to enumerate, why our economy will fails besides the fx exchange.

Truly or economy imports more than it exports and truly our economy which is heavily valuated by the western world by oil exports is failing in respect to oil exports.

But, if we sit down and evaluate this economy based on how it has always worked. How it has managed to become the largest economy if Africa.

We need to ask our selves is the Nigerian economy failing - not in a western way but in a Nigerian way.

The question is what is the Nigerian way. It's simple ... have imports fallen significantly .

Yes, Salaries have not been paid and it took the current government a while to pass the budget .

But based on other benchmarks, has Nigerian imports of goods and services dropped?

This is the question you must answer to come to a conclusion that the economy of the federal republic of Nigeria is about to crash.

Are we still importing at a significantly similar level as we always have?

At the moment , Nigeria is not an export economy it is an import economy.
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