EternalTruths:



Iamgrey5, sit down and look critically at the salient points he raised.


Who creates wealth.? Humans.

Who builds superb infrastructures.? Wealthy Humans.

What are the tools that enable humans to create wealth.? Technical Education, Business Grants and Infrastructures.




So, don't deceive the government into thinking that a perfect infrastructural development automatically wipes off poverty.



There is a role Human Education and Business Grants play in reduction of poverty.


If Buhari has being spending #300b since 2015 to empower 100,000 graduates with #3m/graduate every year, he would have influenced the creation of 300,000 SMEs by now.


Do you know the impact it would have made on job creations, tax revenues, proliferation of goods/services, availability of cheaper & quality services.?


Take YouWin for example and check how it lifted lots of Nigerians out of poverty under Jonathan.

Jomonic

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

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

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

wirinet:


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

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

Naturalle:
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.

Shayetet13:

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

Angola in "mild recovery" but macroeconomic challenges remain-IMF

Nov 15 (Reuters) - The Angolan economy is set to grow 1.1 percent this year as sub-Saharan Africa's third largest economy enjoys a mild recovery, the International Monetary Fund said on Wednesday following a 10-day visit to the country.

After nearly a decade of rapid growth, Angola slipped into recession last year as a fall in the price of oil led to a massive drop in government revenue and access to hard currency.
https://www.google.com.ng/amp/mobile.reuters.com/article/amp/idUSL8N1NL7A7

tundess:
But, but, but Penresa says Nigeria is Africa's "best" economy. I can show the article if you like ma'am. Facts and figures they've got to prove it.

SoNature:


Your Number 3 contradicts your assertion

Infrastructure improves GDP, oga

If we have basic amenities, many people wouldn't be looking for jobs

Do you know the number of people who have closed shops and are now looking for jobs because we don't have steady power?

There's nothing wrong with a government borrowing to bridge the gap of infrastructure deficit

But any government that wants to borrow must spend the money judiciously and must have a repayment plan

wirinet:
She was leading Nigeria into recession

fasterwell:



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.

EternalTruths:



You are too intelligent to be a lady.

Maybe your wise dad trained you to think better than an average lady.


Babe, you deserve not only a kiss but a warmly hug.


Leave fellow Nigerians that can't use their brains for once.


Jaqenhghar, this lady na another Okonjo Iweala wey Buhari for appoint since Kemi only sabi queens English.

erico2k2:
I asked you this simple question, Do you know she managed to write off 30B

ORIENTATION101:
i guess you didnt read the article
.
she did so under obj but could replicate the same performance under Gej this means she cant take the glory except obasanjo

tonquendo4u:
Please get small sense nah. I beg u in d name of everything that is good

kenddys:


the funny part is that they recovered $322m abacha loot and decided to share it with the poor and then borrow $324m to fund telecom sector who does that please?

fasterwell:


Yes but she handed over $63.7 billion debt to Buhari

ORIENTATION101:
if she can take credit for what under obj.

then she should also be blame for massive failure under Gej. the last time i check she never saved penny and foreign reserve was depleted despite make 51 trillions from crude oil proceed

tonquendo4u:
D economy was much better under her. She advised to save from excess crude then. The governor's took her to Supreme Court that they must share d money to them and the court ordered her to share. Those governors are d same ones in Apc now shouting that she did not save. Amaechi, Oshiomole, etc. So cut that woman some slack. She did well

EternalTruths:




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.

jomonic:


Providing business grants is a great idea. I see your point. The target is value creation driven by knowledge base and skill. A focused Aba tailor or similar skill for instance can create a lot of value with this amount. But the approach should be an integrated one. I believe we are in dire need for assorted industries, and manufacturing. Here, I agree completely with the post you quoted. We need foreign investment. We need to provide the fertile ground to attract foreigners to bring their business to Igbo land, hence tax cuts, infra development, steady power supply, safety and security. Infra development should therefore come as a priority number one. It and a secure environment will attract foreign investment from our own people in diaspora and foreigners too. Lack of infrastructure or decayed infrastructure is a catalyst for poverty. We have abundant gas reserve in Anambra State and what is the bottleneck against its development for the benefit of Igbo land. If we unlock the gas reserves at Igbariam, it holds the key to an industrial revolution. Industries can grow from there - power generation for domestic and industrial use, assorted manufacturing opportunities.

EternalTruths:




My brother let me explain to you the 3 key infrastructural needs of a company and how the East can address it easily



1) Electricity

2) Roads / Railways / Seaports / Airports

3) Water


Pay Attention To How It Can Be Solved:


1) Tax exempt all Electricity companies operating in Igbo communities / states with a promise that 90% of their workers in Igbo land will be Igbos.

2) Any company that desires to fix or build any road necessary for it's business operations, shouldn't be stopped.

2B) Also, we can tax exempt companies whose lines of businesses are airport/seaport/railway/etc services.

3) Tax exempt all Water Companies operating in Igbo communities / states with a promise that 90% of their workers in Igbo land will be Igbos.

4) Approach the Federal Government to also extend the Tax Haven by Tax Exempting these industries.

5) Create Industrial parks close to our natural gas wells and encourage the Electricity companies to build their plants in those parks and then tell companies to site their plants in those parks for easy access to electricity.




Take Note:


There are companies that make money from generating, transmitting and distributing electricity which we can tax exempt in order to attract them into Nigeria.


Is unfortunate, Nigeria is filled with brainless leaders at the FG level that should even be pioneering this concept.

jomonic:


Tax exemption is a good incentive, but you may need to buttress how it will help the case for building infrastructure. I think you omitted build operate and transfer as one area that can be explored. Create industrial parks near the natural gas wells or in proximity of gas pipeline routes; yes, I agree. But we have none today in the SE heartland.

I am not aware that the heart of SE is included in the nation’s gas master plan, which may be deliberate. No problem. Our people can develop the gas fields within our zone. What are the bottlenecks? Who are the owners and what problems do they have that they have not developed these reserves? Are these financial, regulatory, etc. issues? Our people can make a focused effort to resolve these bottlenecks and move forward. Energy is extremely important. You may not realize what impact it will have even on the existing industries if energy is resolved. They might even experience organic growth in a short period. We have generating companies already in Nigeria. Transmission, and distribution is a no-go area, but off grid is possible.

Shayetet13:

"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.

[s]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[/s]

EternalTruths:
Nigerian Breweries posted

revenue of:

N254.7 billion in 2017,
N222.7 billion in 2016.

Cost of sale rose from:

N125 billion in 2016 to
N148 billion in 2017,

gross profit stood at:

N106.6 billion in 2017
N97.4 billion in 2016.

Marketing and distribution expenses rose from:

N43.35 billion in 2016 to
N49.40 billion in 2017

administrative grew from:

N16.48 billion in 2016 to
N17.00 billion in 2017


net finance charges (NFC)Â fell from:

N10.2 billion in 2016 to
N7.9 billion in 2017.


As a result, Nigerian Breweries ended the period with

profit before tax (PBT) of:

N34.42 billion in 2017,
N27.79 billion in 2016,

profit after tax (PAT) rose from

N20.1 billion in 2016 to
N24 billion in 2017.



Take note:

PBT - PAT = Tax


2016

#27.79b - #20.10b = #7.69b ( 27.67%)


2017

#34.42b - #24.00b = #10.42b ( 30.27%)



Jomonic, you see these billions of naira demanded by government, if government changes it's tactics from pay tax to, employ more Nigerians at your own operational cost, this money will be channeled into building the infrastructural needs that Nigerian Breweries need to operate smoothly.


Example


With 7b, 10b etc tax paid in naira over the years, NBL would had

1) installed electricity gas plants in all it's branches.

2) fixed/build the roads/railways leading to key commercial centers its products are sought for.

3) build Technical centers that can be shared with universities/polytechnics in order to

*) save cost of training new job applicants by training them when they are still undergraduates

*) fulfill it's Socio Corporate responsibilities.


4) etc




Jomonic, hope you understand what companies can do with more finance in their pockets.




This is for Nigerian Breweries only


Jomonic, imagine what will happen if you have an Electricity Company that is tax exempted with an agreement to increase its generation, transmission and distribution every year until Nigeria is saturated with electricity.?



Hope you now understand Jomonic.

jomonic:


I have not had time to look at the videos. I will look at them. Are you suggesting that the private sector will invest in infrastructure development when they get tax cuts. Even if they do it will never be enough or even make an impact. Tax cuts can enable companies expand their business, increase their profits, achieve more CSR feats, etc. But it will never replace the responsibility of government to spend on infrastructure. Government is in a unique position to do that because they are more concerned with a bigger picture of the landscape. Leaving it for the private sector has not worked and will never work. The private operators are concerned more with their business and stakeholders both internal and external. Therefore, I still believe that rebuilding infrastructure (top priority), tax cuts (yes), power generation, security, etc. are at the core to taking the SE out of poverty.

EternalTruths:




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.

CsRockefeller:


Sent a pm, are you in the country?

Felixv:


how do you read mail here.....can't seem to find any PM