₦airaland Forum

Felixv:
one of the countries I like to visit is Thailand - it is not Germany,Japan, China or even the US

But citizens of those countries flock there every year. Beautiful airport, nice infrastructure and I never never experienced power failure once

This is a country that should have been comparable to Nigeria - they don’t even have oil.

But guess what - there exports are finished products, and that is why the country is called the Detroit of Asia.

Cars by the bucket load, and their finance minister never went to havard or worked in the world bank.

Without power, great roads, amazing ports and airports nobody would bring the kind of industries that would help us develop

You can drive from bkk to chonburi which is a 90 minute ride and all you would see along the beautiful highway are Japanese factories.

Parked on either side of the highway are trucks ready to take goods to the ports for onward delivery round the world.

Their education system is no even world class but people still go to their hospitals from other countries for treatment - medical tourism is a great income earner for them

Alas how can we get to Thailand’s level ?

We infrastructure- we need steady power supply we need great technical skills and above all we have to become a safer country.

Am sorry but obj and Jonathan blew it. People are talking about how obj got us out of debt — foolish man - he should have built our roads and fixed our light - not hand money to the IMF or world banks.

Go and find out how much China owes inspire or have a foreign reserve in the trillions. Go and find find out how much Britain owes. We know the Americans owe a lot. But their infrastructure is amazing.

I once drove from philly to Ohio - beauty road and it took me over 10hrs. Can’t try that in Nigeria

Have you heard about Economic Free Trade Zone aka Tax Heaven.?


Two things attract industries into a country and there are:


1) The percentage of their profit they can keep and the security of their wealth in other words the tax rate.


2) The financial capacity of the people to acquire their products.



Once they are sure that you won't tax them, they will build those infrastructures needed for their businesses to produce and export to other nations whose citizens can buy their products if your citizens are too poor to buy their products.


That is the miracle behind China, Uruguay, Ireland, etc quick rise out of poverty to wealth.


Do you know how much Multinational Companies pay as tax in Nigeria.? 30+%


Do you know how much Multinational Companies pays as tax in Uruguay, Ireland etc that has free trade zones.? 0%


Do you know which of the two nations have more industries.? Uruguay, Ireland and nations that are tax havens for multinationals.

Do you know which of the two nations that experienced technological transfer.? Uruguay, Ireland and nations that are tax havens.


Do you know the purpose of SIWES aka IT.? To acquire technical skills by spending time in industries.

Do you know that if Industries don't come into Nigeria, that our graduates won't be able to acquire those technical skills through SIWES.?


If Buhari had focused on:

1) Technical Education For Interested Graduates
most importantly during their NYSC,

2) Business Grants For 100,000 graduates every year and

3) Created Economic Havens For Multinational Companies In Each Geopolitical Zone or In All States Of Nigeria,

Nigeria would have greatly escaped poverty by now.

The Infrastructures we are shouting up and down about, would have been built by those companies in order to make the environment business friendly for themselves since they are not being taxed.


The power stations, railways, airports, seaports, roads to the ports & population centers, etc would have been developed by them.


Jomonic

gidgiddy
( I quoted you because of your believe in the development of our Biafran people and I decided to share my observation with you even though you never really got yourself involved on this thread. )

jaqenhghar

Iamgrey5

Naturalle

emmanuelpopson

Daejoyoung

GavelSlam ( GavelSlam, expand your horizons through documentaries about happenings in other nations and stop deceiving Buhari )





Nigeria is filled with foolish and selfish people that is why we can not see clearly what to do in order to escape poverty.

ORIENTATION101:
lots of ongoing projects which completion has been the sheduled for last quarter of the and early quarter of next year.

Where are the projects and can we see pics of the stages they are now, when did they start them? Why must they tell us it will be completed after thwy are elected for the second tenure in office?
Has the completed any before if yes name it/them.

delugajackson:
The Americana speaking, certificate forging minister from Ogun state would rather go silent than take this as a serious matter. Which is why Ngozi Iweala will forever have my respect. She was a woman of substance, intelligence personified. Today she is respected globally. 1000 Kemi Adeosuns, both home and abroad can never measure up to her. The difference is very clear.

It's really a shame that Nigeria under these set of incompetent fools is at an all time low. No thanks to the incompetent Dullard-in-Chief.

it is only a confused and prodigal govt that will receives Abacha loot and claim to use it for sadaka to the poor and run to china to borrow almost the same amount few weeks later. Education is truly a good thing. We re suffering the lack of it in governance today

CodeTemplar:
The history of the debt cancellation has been adjusted by the supporters of NOI and I think it is unfair to other key players in those chapters of our economic journey.
The IMF felt with NOI in position to advice and influence our mismanagement and excess borrowing was going to reduce drastically. It was largely a external thing aided by OBJ's willingness to appoint NOI and follow IMF economic blueprint. They felt since Nigeria had someone who understood their philosophy and plan for our growth in good position, they could clear our debt and be rest assured we wont return to that ugly situation by mismanagement.

The truth is NOI is powerless to influence debt cancellation as being suggested by her supporters. If she could do it why didn't she do it the second time as a minister with broader portfolio of coordinating minister of the economy under GEJ?

Is Kemi responsible for the policies eating up loan funds or affecting GDP the most? She isn't. The answer lies between the President, ruling party and the institutions that normally outlive ministerial tenures.

they don't write off debt every time one wishes, since they did it during obj, she wouldn't want to ask for such favour again during GEJ. It's as simple as that. And not every backyard economist can appeal for debt pardon, the person has to be influencial like NOI.

All these international and local recognition she is getting is not by chance. She is one of a kind

kenex4ever:
they don't write off debt every time one wishes, since they did it during obj, she wouldn't want to ask for such favour again during GEJ. It's as simple as that. And not every backyard economist can appeal for debt pardon, the person has to be influencial like NOI.

All these international and local recognition she is getting is not by chance. She is one of a kind

I can see you are more eager to reason along sentimental lines. The cancellation could have happened equally if even a waec holders was in NOI's position at that time. You guys are good at making a hero out of a below average person for childish tribal gains.

If Iweala was that smart as in economist answer this question: Why did she demand she be paid in Dollar as a professional under OBJ but then preached against the negative effect dollar-ization of the economy toward the end of her second stint as a minister under GEJ?

kenex4ever:
they don't write off debt every time one wishes, since they did it during obj, she wouldn't want to ask for such favour again during GEJ. It's as simple as that. And not every backyard economist can appeal for debt pardon, the person has to be influencial like NOI.

All these international and local recognition she is getting is not by chance. She is one of a kind

So by the bold we can safely assume she as a professional was never influential to cancellation of the initial debt?

Check this out : Same woman who increased reserves also under OBJ decreased it under GEJ when she had a broader portfolio of coordinating minister. What does that even tell you?

This is reason I don't blame abokis much when they support theirs blindly. The sophisticated and educated brethren are doing it in even higher proportion.

CodeTemplar:
I can see you are more eager to reason along sentimental lines. The cancellation could have happened equally if even a waec holders was in NOI's position at that time. You guys are good at making a hero out of a below average person for childish tribal gains.

If Iweala was that smart as in economist answer this question: Why did she demand she be paid in Dollar as a professional under OBJ but then preached against the negative effect dollar-ization of the economy toward the end of her second stint as a minister under GEJ?

your reasoning is clearly biased. The world knows how influencial she is no Matter how u demonize her with it tribal politics.

BeeBeeOoh:
https://www.thecable.ng/amina-mohammed-okonjo-iweala-got-nigeria-debt-now-back

I think anty Kemi is inexperience, she will jus be speaking English upandan

wirinet:
Are you joking or you are just ignorant? Without a healthy foreign reserve how do you think foreign banks would open letter of credit for your importers? A healthy foreign reserve gives confident to foreign banks that the government has enough money to pay for imports in dollars.

Lol, (1) Countries with floating exchange rate regime has nothing to do " Foreign Reserve" and business are done internationally
(2) Your so called LC is between the Seller, You and your Bank(Your bank checks to see that "you" and not your Countrie's Foreign Reserve have enough credit to pay for your goods before issuing the seller or the sellers Bank the "LC".
(3) Another condition to issue LC on your behalf is when provide your bank with collatarel even when you don't have enough fund in your account. Then tell me how you come about without Foreign Reserve, that I can't do my international business.
So Mr. tell this your tale to half baked and not me. Also don't forget to tell the dullard and the NYSC certificate madam to stop this borrowings. I can educate you more.

kenddys:
has kemi in anyway tried to relief Nigeria of the debts it had before pmb took over?

Okonjo could succeed because there was a willing obj. Even if kemi has such a great intention, she has an unwilling, uneducated, uninformed, backward-minded, mentally-rigid buhari to contend with.

it baffles me how you people can start fighting each other because of what western nations say....

i mean,look at the woman....??..is she even black sef....??

more worst,white people pay her salary....

i rather listen to a black madman on the streets than listen to this wan....

kenex4ever:
your reasoning is clearly biased. The world knows how influencial she is no Matter how u demonize her with it tribal politics.

The world of tribal bigots I guess .

ORIENTATION101:
how is she going to relief nigeria of debt when major source of forex fall from 120 to 25 .
should kemi be printing dollars to sustain an spend thrift economy which madam okonjo was already told us to brace up for hard times when under her watch nigeria was borrowing to pay salaries when crude was at 78$.
okonjo inheritted more than 47 billions dollars in foreign reserve when crude oil was 100 to 140 for two and half years she never saved a penny and foreign reserve was depleted .and left huge debt ranging from subsidy and federal govt contractors . kemi with meagre resources was able to clear the mess and grow foregin reserve.

kemi deserves accolades

STFU.. Zombie buharists are arrogantly and irredeemably ignorant! GMB has tripled the nation debt; and our CAPEX is still under 30%...

starmehigh:
If this natural disaster keeps happening in US and Japan. Then maybe one day North Korea will re-mount their nuclear programme again and trump will decide to shut it down by force which will lead NK to fire one small missile in US **BOOM**. That's THIRD WORLD WAR.

I know nothing will happen to any African country cause nothing concerns them. But I just want to let you know that African is a reserved land, when Russia, US, North Korea, Japan, and top world country is done with destroying their land and home then you'll know what am talking about, the top survived countries will select their preferred African country to settle then another slave era will start, this slave era will be the worst, we will become slaves in our lands.

Can we fight? no, we can't, oh! sorry am joking yes we can fight with knife and gun but who fights with knife and gun in this era, we don't have the tech to fight back. They will just threaten us with a small missile and we will turn ourselves to slaves immediately, then the white men will rule us, take our natural resources and manpower build their homes to a better standard than it was before then move back and left us with another slave history.

BLACK PEOPLE please lets us build our children and invest in technological advancement because we dont know what the future beholds.
been a footballer, musician, basketball player, Pu*sy is power member is great but lets go into TECH.

Thanks, from me
Starme High

I like ur analysis even tho far fetched it’s shows us how much we are lagging behind and almost nothing bt recolonization can develop us or awaken us. I certainly do hope not.

The difference between the white man(west/developed countries)and the black man is just in the way we THINK and PLAN. That’s all. Bt we never seem to follow or get it right.

We are still struggling with the least important of stuffs like manufacturing toothpick and pencils and we(the govt) applaud ourselves. We probably have no manufacturing sector because we lack basic power supply. Talk less of technological infrastructure. We don’t sponsor research and development. Thank God obj gave us telecoms bt there are many areas untapped. Leaders with foresight is what we need, not all these ones dealing with petty issues and squabbles. Using their whole resources to settle cheap scores in their political parties and senate like that is the automatic solution to our problems. Selfish Leaders 95% of them.

ORIENTATION101:
akapmu so jimmy carter usa president is the foreign politician
Okoro how old are you

Infact dont mention me again

He is a foreign politician, you nitwit. It is deliberate.

The president of Niger republic has taken pictures with Obama.

I am sure he is masturbating to it the way you are.

CSTR1005:
He is a foreign politician, you nitwit. It is deliberate.

The president of Niger republic has taken pictures with Obama.

I am sure he is masturbating to it the way you are.

small boy dont mention me again look else where for your mate

ORIENTATION101:
small boy dont mention me again look else where for your mate

Nitwit.

Don't quote me again. Illiterate.

So? That makes this government the best thing after fried rice? Oh was it not the same OBJ government that has been fired by both the living and the dead in the APC, as the one who put the economy on the path of ruin? Take in the truth when you hear it.

CodeTemplar:
The world of tribal bigots I guess .

for ur tribal mind, Madam A. Mohammed is from her tribe and the international organizations recognising her are tribal too. Even when Adesina got his recent post at African development Bank, the major person he mentioned n appreciated for aiding his appointment was this same NOI. I guess he's also tribal.

kenex4ever:
for ur tribal mind, Madam A. Mohammed is from her tribe and the international organizations recognising her are tribal too. Even when Adesina got his recent post at African development Bank, the major person he mentioned n appreciated for aiding his appointment was this same NOI. I guess he's also tribal.

Stop ranting and relate those points I raised directly. Will AFDB have considered Adesina if he didn't perform on his own?

CSTR1005:
Lies.
Divide it by 10 and you will get the real value of Nigeria's debt under ngozi.

Even Nigeria does not owe that much right now under this calamitous government..

That is bigger than your foreign reserves.

Lie with sense abeg.

.
Who was the minister of finance and coordinator of the economy in Jonathan's govt?

How much debt did Buhari inherited when he took over?

Quote the debt in naira then convert it with the current exchange rate and see the how much the debt was and what it is now.
.
Read what NOI said about Nigeria's debt. She said the debt was $63.7 billion.

www.informationng.com/2015/05/jonathans-administration-incurred-only-21-8bn-of-the-63-7bn-national-debt.html

1sttruth:
Lol, (1) Countries with floating exchange rate regime has nothing to do " Foreign Reserve" and business are done internationally
(2) Your so called LC is between the Seller, You and your Bank(Your bank checks to see that "you" and not your Countrie's Foreign Reserve have enough credit to pay for your goods before issuing the seller or the sellers Bank the "LC".
(3) Another condition to issue LC on your behalf is when provide your bank with collatarel even when you don't have enough fund in your account. Then tell me how you come about without Foreign Reserve, that I can't do my international business.
So Mr. tell this your tale to half baked and not me. Also don't forget to tell the dullard and the NYSC certificate madam to stop this borrowings. I can educate you more.

I cannot lecture you on basic economics, search to learn the uses of foreign reserves;

Foreign Exchange Reserves, Their Purpose, and Rankings by Country

A fourth reason is to provide confidence. The central bank assures foreign investors that it's ready to take action to protect their investments. It will also prevent a sudden flight to safety and loss of capital for the country. In that way, a strong position in foreign currency reserves can prevent economic crises caused when an event triggers a flight to safety.

Fifth, reserves are always needed to make sure a country will meet its external obligations. These include international payment obligations, [b] including sovereign and commercial debts. They also include financing of imports [/b]and the ability to absorb any unexpected capital movements.
https://www.thebalance.com/foreign-exchange-reserves-3306258

erico2k2:
did you know she m anage to write off 30b?

NOI made it clear that Nigeria's debt was $63.7 billion which was passed over to Buhari.


www.informationng.com/2015/05/jonathans-administration-incurred-only-21-8bn-of-the-63-7bn-national-debt.html

Why is everybody pointing fingers at Buhari for Nigeria's huge debt without first telling Nigerians the truth that our debt was actually $63.7 billion when Buhari took over from Jonathan.

Sir, I am not saying that infrastructure is not important, what I am saying is empowerment should be given top priority. Didn't Bill Gates express concern about the little emphasis on human capacity development when he visited?

Also if you build the structures, put the power in place, but people cannot afford to buy the welding machine or set up shop, what then happens? We can start with the infrastructure currently in place, but empower people right now to do more and create more wealth for infrastructure.

I don't know if you understand the point I'm trying to make. The rice farmers that were empowered by this government, they became millionaires and even raised 56m for the president's nomination form- I mean who knew they could do that? If such empowerment was made available to many, and stipends were collected from the proceeds of such empowerment, don't you think we can build whatever it is we need to build to facilitate greater development?

Please don't be offended o, I am just trying to reason this thing out.

AZeD1:
Where will you train the people? Under the tree?
If you want to train welders, is it not power you will use for the welding machines?

Education falls under Infrastructure

ORIENTATION101:
lots of ongoing projects which completion has been the sheduled for last quarter of the and early quarter of next year.

Stop misleading people! We must come to this realisation that, it is not all about politics, but about the people and Nigeria of tomorrow. You think the policies, lies, propaganda etc we have seen so far...in the past three years can make us a better nation is 50 years to come?
Wake up! Think of your children and kids unborn. Put sentiments aside and speak the truth. Enough is enough!

The difference between Peter and Buhari is that Peter repented by weeping and became useful to the Church.


Buhari keeps denying till infinity the reality on ground. God bless Iweala!!!

kenddys:
sometimes I wonder if kemi did any course relating to the finance industry

You don't have to wonder, she's just a ''Yes woman'' , everyone working in this government only works the way they are ordered to work ... If this were not so, she would have screamed a long time ago...

obailala:
Unfounded?... Can you kindly point out the exact sentences you want me to provide reference for?... I'll be glad to provide references for every single word I typed above cos I didnt type rubbish.

By the way, your references to Algeria and Angola not falling into recession are very watery and pointless comparisons. Different countries have different buffer measures against economic shocks such as the loss of value of their main trade commodity. A country like Saudi Arabia for instance with 1-sixth of Nigeria's population had 25 times more forex ($750bn) stored in their reserves for eventualities like a drop in oil prices. Similarly, Algeria with just over 1-fifth of Nigeria's population had about $195bn in forex reserves prior to the oil price drop. As at 2016 ending, Algeria's reserves had dropped to less than $100bn; that is to say it cost the Algerian central bank about $100bn in reserves to prevent a recession.
https://tradingeconomics.com/algeria/foreign-exchange-reserves

Your country has over 180 million mouths which are fed only by oil. By mid 2014 when oil prices crashed, how much did your expert leaders have in reserves to counter the impending recession?.... Oh sorry I forgot, Buhari should have manufactured forex to prevent recession...

By the way, your comparison with Angola as one of the countries not affected by oil price plunge is obviously out of ignorance, my apologies.

"As at May 2015, Nigeria's GDP growth rate had already dropped to 2% (from its average 6-7%); at the rate it As at May 2015, Nigeria's GDP growth rate had already dropped to 2% (from its average 6-7%); at the rate it was dropping, getting to zero (recession) was inevitable especially given that the primary factor causing the drop (low oil price and meagre reserves) was getting much worse. was dropping, getting to zero (recession) was inevitable especially given that the primary factor causing the drop (low oil price and meagre reserves) was getting much worse. " provide a reference to the above unfounded statement. Because you could not find Angola in recession anywhere, you called it pointless and ignorance. Forgetting that despite the fact that the oil drop hit countries hard, but only Nigeria slipped into recession. Why? The decision to delay devaluing Nigeria's currency meant many businesses struggled to get foreign currency to pay for imports, which had a cooling effect on the entire economy. The Buhari's govt latter after serious pressure allowed the naira to float, which should have been done much earlier. And point of correction, Algeria never used $100bn to fight recession, i dont know where you get this your road side economics. Algeria spent so much cos of high import bills. Thats on record. Nigeria had sufficient internal elements to prevent it from slipping into recession only if the govt did the right things when the oil crisis hit. It is well known that countries have economic crisis, even the united states of recent times, but they hardly slip into recession. So blaming Nigeria's recession of the previous government that passed out several months before recession hit is dumb. Cos those months after the oil crisis were more than enough to put solid policies that will revive the economy of any nation talkless of a large economy such as ours

wirinet:
Angola


Algeria

It is obvious you dont know what a recession is. Countries can have crisis in their economies from time to time especially as the global oil drop hit, but with the right policies applied immediately, recession can be prevented. Angola and Algeria never entered recession