CBN Eyes $10b Revenue From Palm Oil - Business (2) - Nairaland
Nairaland Forum › Nairaland General › Business › CBN Eyes $10b Revenue From Palm Oil (9729 Views)
| Re: CBN Eyes $10b Revenue From Palm Oil by Dami12345: 6:35am On Mar 19, 2019 |
datopaper:Na the problems be this. Jisy like the 16bilion dollars spent on light and the tens of billions on the steel mill. Its all good on paper. But then the money always disappears. |
| Re: CBN Eyes $10b Revenue From Palm Oil by Nobody: 6:38am On Mar 19, 2019 |
Niorte:Very intelligent post. |
| Re: CBN Eyes $10b Revenue From Palm Oil by BlastAfonja: 6:42am On Mar 19, 2019 |
post=76782327:The people you mentioned are the real criminals, use your sense.. |
| Re: CBN Eyes $10b Revenue From Palm Oil by BlastAfonja: 6:45am On Mar 19, 2019 |
mamaafrik:Imo, Edo, Anambra, AkwaIbom, Crossriver, Ebonyi. |
| Re: CBN Eyes $10b Revenue From Palm Oil by BlastAfonja: 6:49am On Mar 19, 2019 |
AlwaysUltraPad:APC 'the Yoruba' party is more evil than PDP. We are not blind we can see. |
| Re: CBN Eyes $10b Revenue From Palm Oil by RTSC: 7:02am On Mar 19, 2019 |
AlwaysUltraPad:Nigeria's palm oil production diminished when we discovered crude oil. That was long before pdp came. Try knowing your history before blaming pdp. |
| Re: CBN Eyes $10b Revenue From Palm Oil by AlwaysUltraPad: 7:04am On Mar 19, 2019 |
RTSC:what did they do about it in their 16 years? |
| Re: CBN Eyes $10b Revenue From Palm Oil by jconsulting(f): 7:12am On Mar 19, 2019 |
You can see why they will not want restructuring,SE,SS SW will produce palm oil and the procedes to develop the North......Or which State is producing oil palm in the North |
| Re: CBN Eyes $10b Revenue From Palm Oil by urahara(m): 7:14am On Mar 19, 2019 |
RTSC:No , it dimished when we had the oil boom. Those are two different things |
| Re: CBN Eyes $10b Revenue From Palm Oil by IamaNigerianGuy(m): 7:23am On Mar 19, 2019 |
AlwaysUltraPad:I came to point out the same thing. The future if palm oil is uncertain. |
| Re: CBN Eyes $10b Revenue From Palm Oil by deolumike(m): 7:27am On Mar 19, 2019 |
AlwaysUltraPad:They really wasted opportunities because of their greedy and lootocratic government over the years. May PDP perish |
| Re: CBN Eyes $10b Revenue From Palm Oil by AlwaysUltraPad: 7:28am On Mar 19, 2019 |
IamaNigerianGuy:that's the irony of it all. When it's lucrative, we run away, when its future is uncertain, we invest there. We go to where people are running from. |
| Re: CBN Eyes $10b Revenue From Palm Oil by wolebest: 7:29am On Mar 19, 2019 |
Opportunities in palm oil production is coming just as it was done for rice farmers. I hope you all know palm oil is more expensive than crude oil. All-aboard the train is about leaving. |
| Re: CBN Eyes $10b Revenue From Palm Oil by NwaforIgbo: 7:44am On Mar 19, 2019 |
Ikpeazu has already distributed 2 million tenera palm. In Abia State to support the vision before CBN conceived it. Ikpeazu is truly a visionary leader. |
| Re: CBN Eyes $10b Revenue From Palm Oil by grandstar(m): 7:54am On Mar 19, 2019 |
Here we go again. Why palm oil? Because we had comparative advantage in Palm oil 50 years ago does not mean we have it today! Comparative advantage can be lost. Textiles and garments production flourish in third world countries because it's a labour intensive industry and since labour is cheap in poor controls, it's very ideal. But as wages begin to rise, manufacturers begin to move out and seek cheaper climes. Japan, South Korea and Hong Kong were once big in textiles but no longer. They lost their comparative advantage in it. Nigerian farmers seem to be turning their noses away from palm oil and focusing on their attention on other crops such as cashew, sesame seed, Shea butter etc. It has been estimated that shea butter alone can yield up to $2b yearly for Nigeria. Cultivating palm oil involves lots of deforestation. Indonesia has lost large acreages of land to oil palm plantations on Sumatra and on many other islands. The State is poor at picking winners. The market should be left to decide and when it's makes that decision, the government should put it's weight behind it. |
| Re: CBN Eyes $10b Revenue From Palm Oil by AlwaysUltraPad: 8:02am On Mar 19, 2019 |
deolumike:pdp does not deserve our mercy. |
| Re: CBN Eyes $10b Revenue From Palm Oil by mamaafrik(m): 8:13am On Mar 19, 2019 |
BlastAfonja:why quote me to display your frustration??,na me be your village folks.macharayan make amadioha no Fire your bolokos |
| Re: CBN Eyes $10b Revenue From Palm Oil by Tyche(m): 8:55am On Mar 19, 2019 |
chiedu7:If you have nothing constructive to say, just get out of the thread. |
| Re: CBN Eyes $10b Revenue From Palm Oil by baratech: 9:06am On Mar 19, 2019 |
Good development |
| Re: CBN Eyes $10b Revenue From Palm Oil by OmoManU: 9:27am On Mar 19, 2019 |
datopaper:Many things just wrong with the shit hole, na u understand as e dey go for this country, everything na wu know |
| Re: CBN Eyes $10b Revenue From Palm Oil by urahara(m): 9:42am On Mar 19, 2019 |
grandstar:Excep they are Taiwan and South korea ![]() |
| Re: CBN Eyes $10b Revenue From Palm Oil by grandstar(m): 10:18am On Mar 19, 2019 |
urahara:I'll be honest with you, I am yet to study it. Anyway. there is a Chinese saying that,"Money covers a thousand imperfections". Because these countries are prosperous does not necessarily means that all government initiatives worked. Whether South Korea's picking of winners was successful is not easily discernable because of the existence of the mighty chaebols, which are huge conglomerates such as Samsung and Hyundai. Because each chaebol is involved in a wide range of activities and many divisions, losses from one can be covered up from the profits of another division. Let's say Hyundai shipbuilding is making losses and Hyundai cars is profitable, they'll simply use the profits from the car division to cover up for that in shipbuding. The Chaebols make little profits which indicates that many of their divisions are making either tiny profits or very huge losses. Until the Chaebols begin to unbundle loss making divisions and focus on their core competence and profits, it will be a Herculean task to determine with sectors thrived with state guiding hand. The most important thing about South Korea however is that their well educated workforce made the leap from third world to first world possible in a generation. For Taiwan, it created the enabling environment for science to thrive. That tiny country produces 37,000 engineers a year. America despite being 15 times it's population only produces about 80,000. What Taiwan seemed to have done is to create the environment for winners to thrive and backing them up. I will still need to conduct a lot of research |
| Re: CBN Eyes $10b Revenue From Palm Oil by Gerrard59(m): 10:18am On Mar 19, 2019 |
IamaNigerianGuy:No. It's certain. Same is being said for oil but the use of crude oil goes beyond the use as petrol but lots of derivatives. Ditto for palm oil. Until there are commercially viable alternatives for the derivatives of palm oil, then its future is uncertain. @Topic: What Nigeria needs is constant electricity. We cannot compete with the likes of Indonesia, Colombia, Malaysia or Thailand if there's no constant electricity in place. The cost of production will be higher than our competitors thereby reducing demand for our products. I know local government areas in Akwa Ibom where palm trees can be cultivated but entering into that sector when there's no electricity is tantamount to entering into a pit with open eyes. |
| Re: CBN Eyes $10b Revenue From Palm Oil by urahara(m): 1:57pm On Mar 19, 2019 |
grandstar:Nice answer !!!! Many Nigerians under estimate the power of education to propel a country to first world . You hear many of them saying that of what use is spending a lot on education when there are no jobs. |
| Re: CBN Eyes $10b Revenue From Palm Oil by chiedu7: 4:18pm On Mar 19, 2019 |
Tyche:This freeloading parasite dey vex? |
| Re: CBN Eyes $10b Revenue From Palm Oil by Tyche(m): 10:57pm On Mar 20, 2019 |
chiedu7:Stale |
| Re: CBN Eyes $10b Revenue From Palm Oil by iHart(m): 11:34pm On Mar 20, 2019 |
Gerrard59:I partly disagree with this. If everyone doing business is suffering the same effect of inadequate electricity, then the overall effect of electricity on the cost of production cancels out. Yes, cost may be high but it will be high across all board. Where it will be a challenge is when one area, say Abia state, has no electricity and then Akwa Ibom has enough electricity. in that case people in Akwa Ibom will always have it cheaper than people in Abia. If we consider exporting, we can actually compete favourably irrespective of our power challenge. If we factor in transportation and government policies, Neighbouring Africa countries may find it cheaper to get their oil from Nigeria than going to the Malaysia, Indonesia etc. my point is, don't say because there is no electricity you won't do business. There are people doing it already with the same electricity challenge. find out how they are doing it and take off |
| Re: CBN Eyes $10b Revenue From Palm Oil by Gerrard59(m): 11:10pm On Mar 28, 2019*. Modified: 7:09am On Apr 12, 2019 |
iHart:As much as I agree with you post (which is commendable), running a business on generators can be heartbreaking. I have been there before and know how it feels. When one gets to spend 50% of the revenue on fueling and repairs, it becomes ridiculous. Regarding African nations buying from us, well, the jury is out. It costs the same amount to transport goods from Osaka, Japan to Lagos as from Kano to Lagos. So why should a Congolese purchase palm oil from Nigeria when it is cheaper to buy from Indonesia - which is closer to Africa than Japan? economist.com/news/middle-east-and-africa/21653616-what-milk-trade-reveals-about-country-uncowed |
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