₦airaland Forum

KnowAll:
[size=28pt]1 Naira = $40.00[/size]

jpphilips:
Loads of Nigerian companies can do those things however, they get assistance from foreigners when the need arise.

plaetton:
Yes .
Banks hedge their risks by charging more.

We don't have a credit bureau or credit reporting agencies that can provide reliable information on a borrower's Credit worthiness.

Therefore, every loan is a potential default.
It is no wonder that banks tend to lend more to the already rich, than the struggling person.

shadeyinka:
Now, this is a serious problem. Whose mandate is it to solve the business environment risk factor; the CBN or the FG?

shadeyinka:
I can understand your anger at the political elites ruling the country..but your last part will cause trouble O!

Do you know how many Nigerians are in other countries of the world? There is practically no country in the world where nigerians are not highest in number relative to any/every african country. If others retaliate by chasing Nigerians away from their country, the refuge crises will be unthinkable.

The private sector is almost non existent in Nigeria and that is the truth. The majority of the private businesses in Nigeria are at the scavenging level. They bearly survive due to bad infractructures not to talk of growing the econimy.

God help us

shadeyinka:
I guess the definition of technology transfer differs between the scientists/engineers and non technically biased professionals.

I may be wrong, but it looks like non techies see technology in term of "use/mastery of advanced technologies" while the techies see technology in terms of "building/manufacture".

For instance, I believe that being able to fly a Boeing 747 does not mean that you have acquired the technology of the plane. You have acquired the technology only if you can build your own version of the Boeing 747

jpphilips:
They bought equipments abroad to set up a buisness and you call that posessing technology? lol
So when you buy a Lexus you assume you have the technology that made it?
pls dont choke me with laughter.

shadeyinka:
You are audaciously pragmatic. I like that.

However, suppose we can recover ALL the stolen funds before December what do we do with it?

Spend it?

Please don't go there, local fabrication and production of industrial chillers, electric power alternators, conveyors, grinding systems, extruders, mixers and stamper are admirable technology.

shadeyinka:
Are you sure? I guess what the Nigerian Companies will do I'd to SUB-CONTRACT the job to a foreign firm!

shadeyinka:
Are you sure? I guess what the Nigerian Companies will do I'd to SUB-CONTRACT the job to a foreign firm!

plaetton:
Fg, of course.

shadeyinka:
We all use mobile phones and computers(we even repair them) yet as far as technology is concerned, we are yet to begin.

totorimi:
As for Nigerians that went to those countries they should return lets fix the nation once and for all, if we have to kill ourselves to do it fine but we must fix the country its our only home in the whole wild world.

We need to know how many we are truly, you cannot be providing and budgeting for people who's loyalty is elsewhere. Do you know how many people in this country are just making money here and taking outside to lebanon, india, and all the countries of the world. Even you cannot ful out the fact some non Nigerians might even be our leaders applying divided interest to what concerns our country. If it is not so tell me how on earth that we cannot sit down and think up a lasting solution to our myriads of problems in power,road, jobs and other infrastructural issues.

You will agree with me if we had real Nigerians up there even if they have to die fixing this country they will but what do we have all of them grabbing as if they have another home somewhere where they are taking the money to.
We need to take some hard decisions sometimes. Its little by little that all these things begin to manifest in a country. Look at Britain and the US today all in a mess because of illegal immigrants people who have no loyalty pretending to be refugees and what have you. Serious nations dont give room to illegal aliens.

MadamExcellency:
Please don't go there, local fabrication and production of industrial chillers, electric power alternators, conveyors, grinding systems, extruders, mixers and stamper are admirable technology.

We are not debating inventions rather doing it yourself and that is what is going on already.

As Shehu Garba, the spokesperson of the presidency said yesterday. The Biafra inventions are still here with us. We got them but there are no government support to advance them.

oyinkinola:
...spend according to 2016 budget, instead of cry of no money and go for borrowing! if the cheating in the market is averted through our monetary system thing will be turn right overnight, don't forget 2016 budget is not full implement because of falling price oil!

jpphilips:
[/quote][quote author=MadamExcellency post=48519326]Please don't go there, local fabrication and production of industrial chillers, electric power alternators, conveyors, grinding systems, extruders, mixers and stamper are admirable technology.

We are not debating inventions rather doing it yourself and that is what is going on already.

As Shehu Garba, the spokesperson of the presidency said yesterday. The Biafra inventions are still here with us. We got them but there are no government support to advance them.

shadeyinka:
Downstream sector is a big economic grammer! Its too generalized!
How do we get there?

KnowAll:
[size=18pt]Make 1 Naira = 1 Barrel of oi[/size]l - https://www.google.co.uk/search?q=barrel+of+oil&espv=2&biw=1920&bih=979&tbm=isch&tbo=u&source=univ&sa=X&ved=0ahUKEwjOzIHft8TOAhUD1hoKHai_DKQQsAQISA#imgrc=79raWYsDuX8G_M%3A

shadeyinka:
I believe that our economics experts are operating what I call an indirect economic control.

Example:
Aim- Reduce importation and Encourage local production.
Economic Experts: Devalue the Naira
Implication: When Nigerians suffer, they will find local alternatives.

Me: This policy above just succeeded in causing unnecessary hardship for Nigerians.

Why not build a manufacturing base and then progressively reduce importation?

jpphilips:
Diversifying means exchanging services and goods beyond your local market, the biggest challenge it has is competition, because you are no longer trading as a local champion but on the global stage where competition is fierce, how do you beat the competition?
You beat it by taking up areas of comparative advantage.
The downstream sector of Nigeria hold great opportunities because we already have a developed oil sector which has stood the competition on the global stage, hence the need to maximize its benefits.

Do you know that Africa's refining capacity is abysmal? except for Egypt and Algeria who control the North Africa/middle east market, South Africa who control the southern to central African market, from the Head of Africa (Guinea Bissau) to the horn of Africa (Ethiopia) has no serious refining capacity. That should be a huge area of interest for Nigeria.

Why I prefer refining is because it doesn't only churn out products of industrial and commercial value, it sets the mark for petrochemical revolution which is the raw material hub for most manufacturing companies.

Again, we have access to the Gulf of Guinea which is another huge advantage over our European competitors who will likely penetrate our target market through the Mediterranean or Our Asian competitors who will penetrate our market from the Pacific, we will murder them with logistics cost.

Once we get there, we will revisit our foreign policy, this time we will look forward to a robust transport system that interconnect our market zone, rail, road, anything that transit countries can afford in counterpart funding, once done, then Nigeria is set to become the Russia of Africa in the next 15 years.

These are the Challenges, our oil is domiciled in a restive region, other safer regions attract huge exploratory cost, which makes the whole plan capital intensive, a recessive economy can not afford that, democracy is expensive hence ladden us with huge overhead cost.
Once we can take care of the bottlenecks, we will get there with time.

On a personal note, I have kept tab on most of our OPEC and non OPEC competitors, there is nothing significant they are doing at this period except waiting it out so I don't expect any miracle from Buhari, however, how he manages the situation will determine the number of casualties we will take.
For now, we just have to wait it out!!

shadeyinka:
If you know what realy goes into our budget, you will almost weep.
Disjointed proposals of interests required to be funded by the FG. If you ask me, I feel that our budget should be done in reverse of the way it is being done now.

The FG should set up a commitee to decide the priority focus of Government. The money should be allocated to each parastatal and then based on the available fund, each parastatal should work out the implementation to the limit of the allocated funds.

The way our budget function now is that the FG asks the parastatals to submit their budget of activity for the comming year usually with no recourse to the priorities of the FG. So each DG/Directrors will draw up a budget that favours their pet projects...and overall, the money goes doen the drain when/if it is eventually released.

That is why we have so many unfinished projects.

Ttalk:
I think that is the intention of FG with all her assistance making dollar available to Dangote at the expense of other indigenous competitor who felt cheated. The only explanation to government continual search for crude oil in North East at this trying period is that government wanted to leverage on the downstream potentials and ensure uninterrupted supply of crude from other parts of the region to local refineries when the supply from NDelta is reduced.
What i dont know is how the recent devaluation will affect the outcome of government support for indigenous refining companies. Will it eventually bring down the price of refined products apart from fetching the economy extra dollar and reducing the dollar demand on importation of refined products?.

Ttalk:
I think that is the intention of FG with all her assistance making dollar available to Dangote at the expense of other indigenous competitor who felt cheated. The only explanation to government continual search for crude oil in North East at this trying period is that government wanted to leverage on the downstream potentials and ensure uninterrupted supply of crude from other parts of the region to local refineries when the supply from NDelta is reduced.
What i dont know is how the recent devaluation will affect the outcome of government support for indigenous refining companies. Will it eventually bring down the price of refined products apart from fetching the economy extra dollar and reducing the dollar demand on importation of refined products?.

KnowAll:
[size=28pt]1 ₦ = [/size] https://www.google.co.uk/search?q=picture+of+a+barrel+of+oil&ie=utf-8&oe=utf-8&gws_rd=cr&ei=bvWyV-nRD6C9gAaSxpHIDA

[size=28pt]Which means 1 ₦ = $40 dollars[/size]

[size=28pt]
A Barrel of oil is a univesal world currency = $40.00[/size]

Who determines the price of crude oil globally? Why is oil traded in Dollars? The answers will calm you down. The US dollar is already tied to world oil output, good luck with your proposal, if you were a president, your head will be on a spike by now.

jpphilips:
Mobile phone screen is Oled/TFT technology, what I think that lady is implying is that you can still set up a company that put the components together without necessarily owning the technology, she gets the point just using the wrong terms.
Technology can not be transferred but can be bought, all Apple screens are made by Samsung because Samsung owns the LED/OLED technology, so if it can sell to his closest rival, I don't see why it can not sell to Tecno or any Nigerian who wants to put it together.
Most samsung phones run Snapdragon processors, the patent technology is owned by a US company called Qualcomm, even though Samsung has its Exynos technology, Snapdragon has proved to be more battery efficient hence they still use it as a competitive edge then use Exynos for lower ends, this is how Technology is bought.

There are few areas where Technology is shared in the manufacture of the J17 aircraft by Pakistan and China, the Eurocopter tiger between Italy and UK, F35 between US and his NATO allies etc.
I only get pissed when Nigerians use the phrase "Technology transfer" its extremely annoying.