₦airaland Forum

One answer

Modern day slavery

Nigerians got to the bank to save money and withdraw his money, Asian and Europeans goto bank to get other peoples money on credit to invest on his ideas so that he can make money and repay back the credit

googi:
Sir, not all of them. Yes, some source money from their South Africa dynasty but they also source money from Kora like Chagoury or whatever his name that made money from Abacha and Tinubu. Money do not easily leave India, maybe Govt investment from China.

The easiest source of money is from Nigeria. Think about Development (P&ID), a company registered in the British Virgin Islands, without office or expertise but did well in Nigeria with connection to Gen. Danjuma.

Well yeah some of them who know there way around source money here, especially those who have been around here for decades. Some have been like 3 generations in Nigeria especially the Lebanese and some Indians.
But the South Africans, Chinese, even some Indians, some Europeans and Americans come with there own money.


Major problems for Nigerian businesses is lack of funds especially if you are not connected to the government. If you don't know your way around or maybe inheritance .money or hustle even drug /fraud money. It will be hard for you to break in.
Getting money from the bank is very difficult with very high interest rate. Except you know your way around it.

But still starting small, growing your business over the years is still the best. But it will take time, patience, losing money, making mistakes and then learning from your.mistakes to get better. Through this particular way, you can over time build a transgeneeational business you will transfer to your children. But many can't be patient to follow this pattern. Everyone wants it sharp sharp

The GDP of Nigeria if well computed might be over 2trillion dollars

husbandsnatcha:
I just pity Igbo ladies fallen in love with dis kind of afon...ja ,

When u see an unproductive man u will know

your sisters are all over brothels in afonja land selling their pussy for 500 naira

djon78,

Thank you for going back to the topic. You actually analyzed the problems very well. Some Ivy League educated Economics from USA and London School of Economics justified Structural Adjustment for IBB to implement. It was the beginning of the End. It wiped out African Middle Class.

Then came Devaluations. The same well educated Africans gave us reasons to embrace each Devaluations. You know the not so educated military man without high school cert kept on asking the same question.

Which Developing country has ever recovered from Devaluation?

On top of all these, our Central Bank Governors and Finance Ministers kept Interest Rate high so that Foreign Investors can check in and out. When they want to "invest" they flatter us as the fastest growing developing countries. The best countries to invest in etc. Our stock markets soar and they take their money out. It is repeated.

Now tell me, my brother, which African big or small business can borrow at that rate as you indicated. Not even Dangote.

Who does Devaluation epp? Ask Zimbabwe.

Who does Structural Adjustment epp? Ask IMF and World Bank.

African Economy is Politically dictated by the West.

We make it worse by importing new, used and junk goods for 60 years!

Because they are atheists.

mrvitalis:
Had to explain from home

it is a tribal explanation.. Very unnecessarily

babyfaceafrica:
it is a tribal explanation.. Very unnecessarily

U have a problem if u think what I said their is tribal

djon78:
Actually the Asians come with there own money. So they can easily set up businesses and investments here. They have access to funds from home country.

But majority of Nigerians lack even basic finance or adequate funding, so they are already disadvantaged.

But they find thousands of dollars to cross Sahara desert, even falling into slavery, whereas that money they could have used to set up a good business in Nigeria.

Look, it's all about your mindset. If you have a pessimistic outlook you will leave.

If you see the glass as half full rather than half empty, you will stay in Najia and hustle.

mrvitalis:
U have a problem if u think what I said their is tribal

There....

Rossinnki:
But they find thousands of dollars to cross Sahara desert, even falling into slavery, whereas that money they could have used to set up a good business in Nigeria.

Look, it's all about your mindset. If you have a pessimistic outlook you will leave.

If you see the glass as half full rather than half empty, you will stay in Najia and hustle.

So true my brother. We have have lost the zeal to support our existence based on the sweat of our brows.

Glitters and branding have overtaken our self pride in our culture and confidence. But all is not lost. This generation is reclaiming our place, maybe not enough or as fast as we want.

Watch them challenge religious opportunism and vanities without value and progress.

Rossinnki:
But they find thousands of dollars to cross Sahara desert, even falling into slavery, whereas that money they could have used to set up a good business in Nigeria.

Look, it's all about your mindset. If you have a pessimistic outlook you will leave.

If you see the glass as half full rather than half empty, you will stay in Najia and hustle.

Actually you can't blame them. It takes someone with a heart to invest in this clime. It's not just about having money.
I have been involved in business in this clime over the years.

I call Nigerias business environment: shark infested waters. If you no get heart, you can never survive business in this environment. You will get eaten up. You must definitely loose money but you can actually bounce back.

So those guys take the easier route. You can't blame them.

googi:
djon78,

Thank you for going back to the topic. You actually analyzed the problems very well. Some Ivy League educated Economics from USA and London School of Economics justified Structural Adjustment for IBB to implement. It was the beginning of the End. It wiped out African Middle Class.

Then came Devaluations. The same well educated Africans gave us reasons to embrace each Devaluations. You know the not so educated military man without high school cert kept on asking the same question.

Which Developing country has ever recovered from Devaluation?

On top of all these, our Central Bank Governors and Finance Ministers kept Interest Rate high so that Foreign Investors can check in and out. When they want to "invest" they flatter us as the fastest growing developing countries. The best countries to invest in etc. Our stock markets soar and they take their money out. It is repeated.

Now tell me, my brother, which African big or small business can borrow at that rate as you indicated. Not even Dangote.

Who does Devaluation epp? Ask Zimbabwe.

Who does Structural Adjustment epp? Ask IMF and World Bank.

African Economy is Politically dictated by the West.

We make it worse by importing new, used and junk goods for 60 years!

Actually when it comes to devaluation, it's a double edge sword. Because to maintain your currency, the Central Bank must use the countries foreign reserve to fight keeping the currency from going under. So the foreign reserve suffers.

And in a case where the reserve is not replenished the currency must drop. That's the case Nigeria is in presently. Oil price our mainstay of revenue is falling terribly. CBN having shorter revenue may find it hard in upholding the Naira.
That's why analysts are speculating Naira hitting 500.


Also worsened by Our local industrial sector which is below par. We import many things we use here. So it's terrible.
More of poor economic policies.

Nigeria must fix her industrial sector. But to do that, power must be constant first and foremost. While presently our power sector is in chaos.

So it's a hydra headed complex problem for Nigeria. The earlier government wake up the better for the nation.

Sorry, I don't know how I missed this important comment.

My friend, be careful. If you mention the S word in Nigeria, all your friends, voters and families will disappear.

I still remember as a student arguing with a professor that Africans by culture are Socialists.

He told me then that if every country in Africa turned Socialist, Nigeria and Kenya would not.

by Elimon(m): 7:59pm On Mar 14
Mr op. Where was Nigeria when Europe and China was developing...I once told my friend if Nigeria tries socialism it would be better but he doubted...tell me which socialist 2nd world countries are poor,except our so claimed Democratic dump states that think the West has everything to offer

googi:
Sorry, I don't know how I missed this important comment.

My friend, be careful. If you mention the S word in Nigeria, all your friends, voters and families will disappear.

I still remember as a student arguing with a professor that Africans by culture are Socialists.

He told me then that if every country in Africa turned Socialist, Nigeria and Kenya would not.

Did he ever tell you why they would not

googi:
See provocation.

Let me ignore you. Go find out if they all came with more than singlet on their back.

Don't mind that rabble rouser. He must turn everything into his repetitive and tedious practice of praising Igbos and denigrating Yoruba.

The simple truth is that Asians and Co are more disciplined and can identify opportunities where the average Nigerian may not see such because they have been raised to think outside the box whereas most Nigerians think they must have a good job or affiliation to politics to be successful and wealthy.

Also, Nigeria and Africa needs a lot of solutions. A hell of a lot actually. Yet our children are not educated in schools to be solutions providers. They are often as bright as anyone yet our education system does not naturally lean toward raising the average student to think of self-help innovations and solutions first before deploying foreign assistance for everything.

Finally Foreigner's have access to investment cash most Nigerians do not. £10,000.00 is a great amount to start many businesses with in Nigeria yet most Nigerians don't have this and cannot get it.

If a rogue and prositute can put una together and name you all “Nigerians” out of Nigger Area, and you continue to act that name sake, then why wouldn’t their descendants and others not come to chop from una.....

Elimon:
Did he ever tell you why they would not

We know more today than any simplistic answer he could have given then.

But you answer that question better in your earlier post:

that think the West has everything to offer

In Nigeria you use money to make more money,only few Nigerians know this and the Asians and Lebanese know the game well.