₦airaland Forum

nijabazaar:
plz stop, stop, stop this nonsense.

nigeria x not better now.
Its Super worse.

stop all these lies.

If Nigeria is half as goodd as you put it we wont have this Bloomberg piece nor 23% unemployment.

Stop been delusional....please

plaindealer:
You are entitled to your flawed and myopic opinion, but not facts.

Guestlander:
Every subject is an opportunity to advance your separatist agenda.
If the rain is too much today, separate us.
Palm wine is not available at the joint, separate us.

plaindealer:
You are entitled to your flawed and myopic opinion, but not facts.

jimi4us:
Only a mad person will counter this.

plaindealer:
You are entitled to your flawed and myopic opinion, but not facts.

spectroscopic:
OIL, the reason for some wanting Nigerians to stick together for life, is finite. I propose that if necessary, as an incentive, a formula to share oil revenue among the separated countries for 10 years can be arrived at, with international support and agreement. This will allow every group to financially develop themselves internally during the interlude. After 10 years, oil revenue reverts to the owners of each oil well.

Thankfully, we now know that oil is not the biggest deal in NIGERIA. Funds From Nigerians living overseas surpassed Oil & Gas earnings in 2018 at $25b against $18b from Oil.

Who are the Nigerians living overseas and sending these billions back to Nigeria? Igbo, Yoruba, Edo and the rest, in that order. You see, with this fact, Igbos will do well in their own country.

Igbos (South East) should exclude non-Igbo and unwilling Igbo South South people from their desired Biafran State, and make a strong case at the UN level for their own country.

It is a win-win for each region to live separately as independent countries. Assuming it is a ''Nigerian factor'' holding the country down. Separately, the North will do well with their massive land and agricultural potential. With Lagos, the West is easily the most developed part of Nigeria and will potentially keep that going. The Igbos are the most resilient Nigerians and have great human resource and acumen to survive and potentially develop themselves. The SS has oil as well as human resources to potentially develop.

spectroscopic:
Bloomberg compares Nigeria 2014 and 2018-hard data

Nigeria is a much more important country than most people in the U.S. probably realize. With more than 190 million people, it’s Africa’s largest country by far (Ethiopia, the second-largest, has a little more than half as many). And with a fertility rate of about 5.5 children per woman, among the world’s highest, Nigeria is only going to grow in importance — by the century’s end, the country is projected to have almost 800 million people, almost twice as many as the U.S. by then.

But as things stand, this African giant is failing to create the prosperity that will sustain that future population. Its oil-dependent economy has struggled after oil prices plunged five years ago. The number of Nigerians in extreme poverty — generally defined as living on less than $1.90 a day — is estimated to be increasing by six every second.


Meanwhile, the country’s economic institutions are failing, with rising unemployment and debt levels. A recent Bloomberg Opinion editorial laid out the grim numbers:


In the long run, Nigeria needs to wean itself from dependence on oil by spending energy revenues on education, health and infrastructure. But that plan might take decades to bear fruit in the best of circumstances. In the short run, Nigeria needs jobs.
One of the best way to create those jobs would be to increase international trade. And the quickest way to boost trade would be to join the African Continental Free Trade Area, the planned free trade zone of the African Union (an organization dedicated to forging closer cooperation between African states). The AfCFTA now includes 52 countries and more than $2 trillion of economic activity. Entering that agreement, which would eliminate tariffs on 90% of goods, would open up plenty of new markets for Nigerian-made products.

But Nigeria’s manufacturers see the AfCFTA as more of a threat than an opportunity. Frank Jacobs, president of the Manufacturing Association of Nigeria, recently declared that “When they open our borders for all manner of products to come into this country, most of our industries will be out of business.” The Nigeria Labor Congress, an umbrella organization of trade unions, called the AfCFTA an “extremely dangerous and radioactive neo-liberal policy initiative.” As a result of this political opposition, Nigeria has balked at joining the agreement.
There is some justification for reluctance. Though the current accord is mainly about reducing tariffs between African member states, the AU plans to follow it up with a push for a customs union and a single currency. This latter step would be a bad idea. As Europe discovered so disastrously in the financial crisis, a currency union can exacerbate local recessions, since it makes it impossible for countries with weak economies to depreciate their currencies and become more competitive. A monetary union without fiscal integration makes sovereign-debt crises like the one in Greece much more likely and damaging. Africa should avoid making the same mistakes that Europe made. And Nigeria, especially, should be wary of a currency union — its natural resource exports tend to push up the value of its currency, the naira, making non-oil exports less competitive, meaning the country needs to push its currency down in order to restore balance.
But signing on to the AfCFTA wouldn't oblige Nigeria to adopt the later stages of the AU plan. For now, the priority should be opening the country to trade. Nigeria now is highly protectionist. Its list of prohibited or restricted imports is long, including items such as carpets, shoes, handbags and most types of furniture. The government also makes a large number of imports, such as textiles and clothing, ineligible for foreign exchange at the central bank’s official window, making it harder to import these items.

In her book “The Next Factory of the World: How Chinese Investment Is Reshaping Africa,” McKinsey & Co. researcher Irene Yuan Sun argues that these import restrictions have damaged Nigeria’s manufacturing sector. The obstacles to importing textiles have made it difficult for Nigeria to develop a competitive clothing-export industry of the type now growing in Ethiopia. And the impediments to importing labor-intensive manufactured goods like furniture, shoes and carpets, though it has shielded Nigeria’s manufacturers in the short term, has had the long-term effect of preventing them from learning how to compete in international markets.
This is a drag on growth. Labor-intensive manufacturing is still almost certainly the best and quickest path for nations to escape mass poverty. Journalist Joe Studwell argues in “How Asia Works” that exporting raises productivity and encourages the import and adoption of advanced foreign technology. And Harvard University economist Dani Rodrik argues that promoting exports helps countries to discover what they’re good at doing, allowing them to invest with confidence and to establish a stable niche in the global economy.
Maintaining an insular, protectionist stance is often tempting for a country as large as Nigeria, whose manufacturers are always clamoring for the prize of a captive domestic market. But this approach merely provides a crutch that ultimately preserves industrial weakness. Instead of hiding behind trade barriers, Nigeria should focus on aggressively promoting manufactured exports. Gaining access to nearby African markets would be one step toward doing that. Courting foreign-direct investment, depreciating the currency and pushing companies to export are other important steps. And in the long run, investments in education, health and infrastructure will make Nigeria an attractive platform for labor-intensive manufacturing. This is the giant African country’s best hope for escaping a looming tsunami of poverty.

https://www.bloomberg.com/amp/opinion/articles/2019-05-15/dropping-trade-barriers-could-help-nigeria-avert-soaring-poverty?fbclid=IwAR3K4xW5bWKds91jFu5DuOQtpwdnFUTNxfH5GhqE9oQn_42AdBRwK1uDuJw

spectroscopic:
We know for you it's about Osibanjo/Tinubu in 2023. May I ask you a question. After Tinubu/Osibanjo finishes two terms in 2031 and Nigeria does not get significantly better (which some of us believe it will not) will you be inclined to Nigeria separating at that time? I am just curious if for you (and people like you) it is a matter of time, or never it is at all. I was never a separation person but after seeing the gloom that's coming, I am beginning to support the idea. It just needs to be thoughtful and agreed by all.

spectroscopic:
OIL, the reason for some wanting Nigerians to stick together for life, is finite. I propose that if necessary, as an incentive, a formula to share oil revenue among the separated countries for 10 years can be arrived at, with international support and agreement. This will allow every group to financially develop themselves internally during the interlude. After 10 years, oil revenue reverts to the owners of each oil well.

Thankfully, we now know that oil is not the biggest deal in NIGERIA. Funds From Nigerians living overseas surpassed Oil & Gas earnings in 2018 at $25b against $18b from Oil.

Who are the Nigerians living overseas and sending these billions back to Nigeria? Igbo, Yoruba, Edo and the rest, in that order. You see, with this fact, Igbos will do well in their own country.

Igbos (South East) should exclude non-Igbo and unwilling Igbo South South people from their desired Biafran State, and make a strong case at the UN level for their own country.

It is a win-win for each region to live separately as independent countries. Assuming it is a ''Nigerian factor'' holding the country down. Separately, the North will do well with their massive land and agricultural potential. With Lagos, the West is easily the most developed part of Nigeria and will potentially keep that going. The Igbos are the most resilient Nigerians and have great human resource and acumen to survive and potentially develop themselves. The SS has oil as well as human resources to potentially develop.

spectroscopic:
We know for you it's about Osibanjo/Tinubu in 2023. May I ask you a question. After Tinubu/Osibanjo finishes two terms in 2031 and Nigeria does not get significantly better (which some of us believe it will not) will you be inclined to Nigeria separating at that time? I am just curious if for you (and people like you) it is a matter of time, or never it is at all. I was never a separation person but after seeing the gloom that's coming, I am beginning to support the idea. It just needs to be thoughtful and agreed by all.

ChiefOlabowla:
This data or analysis is flawed, incongruent and imbalance. Wait!!! I am not a suporter of the present government. But see the 2 indexes I circled. They are indicating that the current government has a better ' Ease of doing Business environment' and better 'Economic Forum competitiveness'.

How did they come to agree with these two conclusions when the other indexes are not are all indicating worsened conditions in the current government??

plaindealer:
It took you forever to get to Tinubu, this is what people like you do, they run to Tinubu in the absence of facts and sensible views.

Tinubu is not the topic.

Tinubu is not facts.

spectroscopic:
Unless something drastic happens (such as a big disease outbreak, stronger and more nationally spread Boko Haram and Fulani killings, etc), Nigeria will likely remain the same in 2099. The citizens are too stupid to assert themselves, coupled with pervasive tribalism and religiosity.

spectroscopic:
Please stop pretending. It's the anticipated SW presidency STUPID. Now could you kindly address my question of whether after Tinubu/Osibanjo finishes two terms in 2031 and Nigeria does not get significantly better you will be inclined to Nigeria separating at that time? Or it is never at all? If never at all, may I ask why? Do you not want the SW to be able to independently charts its own course and cater for the Yoruba RACE?

plaindealer:
1. I see nothing wrong with borrowing as long as it's used to beneficial infrastructures, programs and policies. We know such loans finished the projects past administrations borrowed money to complete, but abandoned the projects after stealing the funds.

2. We borrowed to start and complete Lagos Ibadan rail in less than 3 years, we borrowed to complete the ones they abandoned for 30 years in Warri/itakpe.

3. In less than 2 years in 2012 alone, GEJ borrowed N2 trillion, on top of the several trillions they borrowed, stole and diverted, but they left office without any completed major project.

4. GEJ borrowed to pay workers salary until his last days in office.

5. Abandoning thousands of projects all over Nigeria means loss of jobs, no not tackling electricity means we can not creat jobs or progress. These are the issues facing Nigeria, not getting excited over some meaningless numbers that doesn't address anything.

richidinho:
I only focused on the Transparency Index, since Buhari no free me hear word

I'm pightin kworaption

SarkinYarki:
show me one single MW Buhari has added to the grid in 4 years? just one

nijabazaar:
plz stop, stop, stop this nonsense.

nigeria x not better now.
Its Super worse.

stop all these lies.

If Nigeria is half as goodd as you put it we wont have this Bloomberg piece nor 23% unemployment.

Stop been delusional....please

phelonrays:
hmm...... An BUHARI is still planning to take us to Next Level.......

who bewitched Nigerians like this?.....

plaindealer:
...but in 2014, GEJ introduced austerity measures even though we earned more oil money in the history of Nigeria under GEJ and it still did not prevent him from declaring austerity measures in 2014 when oil was $77 per barrel.

So, what was the result under GEJ? We were still in darkness, no completed project, no road, no bridges, no quality healthcare, no railway, no stable electricity, nothing. Nothing but abandoned projects all over Nigeria, now we are completing projects that they abandoned for 30-40 years.

Today, Nigeria is starting and completing rail projects in less than 3 years, what they couldn't complete in 30 years.

Useless report without context and realities.

plaindealer:
Ask GEJ/PDP, they gave that responsibility to the DISCOs when they privatized electricity and power generation or just google the meaning of privatization.

It is not by force to comment.

......you should on the other hand show us the major projects GEJ/PDP completed in 16 years

Show us the roads

Show us the completed rail projects

Show us the bridges

Show us the refineries

Show us the hospitals

Show us the water works

Show us anything meaningful Nigeria benefited from 16 years/PDP and $500 BILLION oil earnings.

ChiefOlabowla:
This data or analysis is flawed, incongruent and imbalance. Wait!!! I am not a suporter of the present government. But see the 2 indexes I circled. They are indicating that the current government has a better ' Ease of doing Business environment' and better 'Economic Forum competitiveness'.

How did they come to agree with or arrive at these three conclusions when all other indexes are indicating worsened conditions under the current government??

60% of revenue goes to servicing debits - the country spends more than they it earns
Debt to GDP increased by 13%
Unemployment rate tripled from 6 to 23%
Inflation rate increased by range of 3 - 5%
Corruption index increased by 8%

Where on earth are those 3 conclusions from biko ?