Evercurious:


Thanks for.this.. No mind the unrealistic fellow blabbing since

That unrealistic fellow has been backing up his points with enough punchlines...The problem is not talking nonsense, but when someone's nonsense starts making sense, then personally i give such people some accolades...
Nnamdi Kanu started with what i called nonsense, but today it's reality....

sociologymajor:
Effect of Corona Virus, too much supply with almost no demand as almost all economies is on shutdown.. Things will pick up later I believe

pick up very very fast when the issue is over

All this boils down to a lack of planning. Bench mark for budget was 57 dollar and oil sold for 72 to 60 dollar, where did the excess go to? Check 2019 and you'll see that the price of crude exceeded what was used for budget. This is how it has been year in year out. Now os the time to bring out the excess. FOOD first sha. Villagers will be happy now.... Go bush get fruits, vegetables, belly fool, yam, etc....

voltron14:


I did not invent our GDP per capita which is less than 2000 dollars and on that basis, 30k per month, is perhaps the best the government can muster.

I insist we are unimaginative hence the low GDP per capita. I'm not a solving government of a lack of imagination but as I often say, you cannot get apples from a maize farm.

I tell you, we have so much raw materials to create various things the world would desire but do we?

We talk of power supply but have we found a local solution to the problem?

If we haven't, its because we aren't thinking.

I would continue to beat this drum - produce or perish.

You make a.lot of good arguments, but the problem is the government you support isn't making the hard decisions needed to make Nigeria more productive.

Like removing Subsides completely, metering everyone and so on

voltron14:


The question I would ask you is if this government is inept, were they also responsible for lack of power supply for.the rest 55 years?

Seems you have something against Nigerians in general. Some of us have setup businesses with hard earned money and lack of basic infrastructure like power has turned these investments in zero.

The recent clampdown on ride hailing services powered and managed by Nigerians is a good example. These ideas and costly initiative are currently been shortlived by a few elites who put themselves first before the populace. They call themselves government. Governance in this part of the world is a totally different definition to what we have elsewhere.

Accepted, the government cannot take all blame but they lead and others follow. The top of handswe have in government at the moment are inept and have nothing to offer.
Unfortunately these are the sets of people who are most desperate for leadership.
Africa/Nigeria is an irony

tensazangetsu20:

So why doesn't the government provide electricity and an enabling environment if they seek to increase productivity? Most people do not need more than those to build something. What policies have the Nigerian government put in place to make Nigerians more productive? To make businesses thrive. Tell me.

you are very correct brother. Dont let anyone tell you otherwise. Environment bears an ENORMOUS impact

ProsperChild:


Source: https://punchng.com/breaking-oil-price-sinks-to-lowest-level-in-16-years/

i am tried of suffering buhari nonsense economic policies

The chief recessionist is back again, he is always lucky to plunge the country into recession he has done it countlessly both as a military dictator and as a civilian president.

Stephenomozzy:


What percentage of that 200million actually feel the direct benefit of such fairytale figures pegged as budgets? If not epileptic discharge of constitutional duties

More than 35% of that budget goes to less than 10,000 people.


The remainder (199,990,000) of the population is left with 65%.


Satanic Budget!

kikero:


You make a.lot of good arguments, but the problem is the government you support isn't making the hard decisions needed to make Nigeria more productive.

Like removing Subsides completely, metering everyone and so on

Subsidies would go this year.

The subsidies would go because a local alternative to imports, in the form of the Dangote refinery would come on stream. Of course, this may have to be reviewed based on how Covid-19 affects its take off.

I don't know how to communicate this, but as someone who travels quite a lot, the one thing I ask myself in every society i find myself is "why are these people so successful?" And I can only point to productivity as the reason.

We have cocoa but do not make chocolate.

We have hides and skin but we aren't known for leather works.

We must produce no matter the excuses.

…..where is the savings from the days of plenty Buhari?
Crude oil has sold for an average of 20USD above the FG budget cost, where is the savings from this Buhari?

We are back to the days of yore.

voltron14:



Unlike many, I don't do such conspiracies.

There is no government that does that, none whatsoever.

There are many positives from all governments in Nigeria but I insist, the Nigerians are too unimaginative to embrace the opportunities.

Even this thread speaks volume.

Notice how, as soon as I made it an economic discourse, the early dimwits abandoned the thread?

That is typical.

As soon as it requires effort and persistence many flee.

To be productive, you need security, you need a functional judicial system, you need to upskill your populace (vocational education is key here) to be productive.

A functional government is required to lay the foundation for this, whether we like it or not. No society has ever gone from the brink of anarchy to greatness within a single generation. Nigeria is a society at the edge of a precipice. Hordes of university 'graduates' who never learned how to think and have zero skills, millions of small kids out of school. Exactly what Bill Gates told them in Abuja when he said human capacity development is just as important as infrastructure (which are mostly white elephants, by the way)

It's easier to reel out economic theories and call people lazy (just like Buhari did) because you've been lucky to find a sweet spot of your own within the dysfunctional system. But an improperly aligned system will never produce stellar results.

voltron14:


Spare me that.

What percentage of the population are achievers?

Haven't you heard about 14 Nigerians arrested for fraud in the USA, just this week? That is not wholly representative of us, neither are these hardworking people you are referring to.

Yes, we are capable of learning but learning isn't invention, neither is it productivity.

Productivity is desire and application, what you find the Indians doing.

We as a nation are unproductive and I can't reiterate this enough.

We need to realise this.

Quickly.

Truer words never spoken.

voltron14:


Let me tell you something.

When Abacha was president, Nigeria was under a choke hold, there was no electricity just like today but that was the period in which the Nigerian home video industry (Nollywood) became an African brand.

What of the Afro music that has gone global today, when did it germinate?
Same time as when Abacha was in power.

That is the kind of creativity we need in all spheres.

Today, we are talking of Coronavirus, how many protective Hazmat suits are being built in Nigeria?

How many masks are being built?

How many of the clothes in your closet are made in Nigeria?

Honestly, we lack productivity and it stems with the populace.

Facts only.

voltron14:


Nigerians generate an average of 2000 dollars annually.

What miracle are you expecting?

A man produces only 2 thousand dollars of wealth annually but believes he should be living like Jay-Z.

Get real.

funny living like Beyonce too

voltron14:


Subsidies would go this year.

The subsidies would go because a local alternative to imports, in the form of the Dangote refinery would come on stream. Of course, this may have to be reviewed based on how Covid-19 affects its take off.

I don't know how to communicate this, but as someone who travels quite a lot, the one thing I ask myself in every society i find myself is "why are these people so successful?" And I can only point to productivity as the reason.

We have cocoa but do not make chocolate.

We have hides and skin but we aren't known for leather works.

We must produce no matter the excuses.

See how stupid you sound?
Do you know what subsidy is?
Who told you because dangote now will soon start producing locally that automatically translates to subsidy elimination?
What if his final production cost(profits included) comes out at 185 naira/litre?
Doesn't that tell you that the government will pay 40 naira a litre to him to make the product affordable to its populace?
Or has dangote told you how much his fuel selling price will be already?
I ask again,how much product or revenue have you generated?
Ps;I also travel a lot,I guess that makes me productive

isnovic:
…..where is the savings from the days of plenty Buhari?
Crude oil has sold for an average of 20USD above the FG budget cost, where is the savings from this Buhari?

We are back to the days of yore.

The days of plenty were in the previous administration when oil prices were between 91 and 130 dollars.

Since Buhari took over, oil has been between 25 dollars and 80 dollars, and we need it to be at 140 dollars since 2017

Even under the previous administration, the oil price was not high enough for our economic needs. And GEJ did not save because of high spending on subsides and keeping the naira afloat.

vicdom:

E don red now. This is the time our pseudo change and next level government should bring out all the audio recovered loots, trillions saved in TSA, customs and et al and fund our budget. I don't wanna hear story oooo. Because all these acclaimed monies are suffice for our budget funding. Very useless and clueless government with dimwitted zombies as apologists.

I pray we survive this. With this virus, Nigeria may fall under greater recession that ever before. GEJ will be thanking God though.

voltron14:


Let me tell you something.

When Abacha was president, Nigeria was under a choke hold, there was no electricity just like today but that was the period in which the Nigerian home video industry (Nollywood) became an African brand.

What of the Afro music that has gone global today, when did it germinate?
Same time as when Abacha was in power.

That is the kind of creativity we need in all spheres.

Today, we are talking of Coronavirus, how many protective Hazmat suits are being built in Nigeria?

How many masks are being built?

How many of the clothes in your closet are made in Nigeria?

Honestly, we lack productivity and it stems with the populace.

And what do you say about those produced in Aba? Aba made, bla bla bla. What's you or the government done to support them?

voltron14:


Let me tell you something.

When Abacha was president, Nigeria was under a choke hold, there was no electricity just like today but that was the period in which the Nigerian home video industry (Nollywood) became an African brand.

What of the Afro music that has gone global today, when did it germinate?
Same time as when Abacha was in power.

That is the kind of creativity we need in all spheres.

Today, we are talking of Coronavirus, how many protective Hazmat suits are being built in Nigeria?

How many masks are being built?

How many of the clothes in your closet are made in Nigeria?

Honestly, we lack productivity and it stems with the populace.

All these you are saying still bows down to the lack of enabling environment by the govt. When the right infrastructures are not in place, even the human capital would suffer. The Nigerian youth i believe are very hardworking and innovative. It's very pathetic that the few ruling elites have succeeded in corrupting there minds.

Totally agreed that Nigeria isn't productive at all. The Leadership problem is in our mental intuition, I've been to many sectors of government, private and political arena of Nigeria. Leadership isn't abt age bt capacity. I worked with ppl of all ages and loss hope tht Nigeria will hardly rise to its expectations. Corruption is everywhere, in religious places, work and in our daily activities. The so called higher institutions of learning we attended are pure scam; only student of science and Technology will relate this. Compare the actual knowledge u're supposed to gain coupled wth practical experience and that of other developing nations like India, China, Indonesia, Malaysia and the rest u'll realise that thy jst scammed us and robbed our money in d name of school fees. The education system of Nigeria was neva meant to be productive (colonial conspiracy) and can neva be in ths way because it's nt done lyk ths everywhere in d world. If u think the old generation are corrupted and neva deserve to rule and shld allow young mind to rule, remember the worst leadership we're/we've receiving/received from School at the hand of SUG, the way students and youths associations conduct elections. Do u think wth these set of ppl who can't plan for tomorrow Nigeria will rise again?
Ask an average young Nigerian to tell u the plan, I mean real strategic plan on how to restore and make Nigeria productive and great again u'll knw that the future is completely doom. The way ppl are insulting, disrespecting, and showing extreme hatred against one another in Nairaland prove how myopic many youths are. We've to accept to live in diversity, improve the constitutive authorities, reshape and remodel our education system to meet the large number of population and convert it to be productive. What are we manufacturing as a nation, if they start listing them u'll be ashamed. We're nt productive at all. We need to ponder well and think in different and better way.

kikero:


The days of plenty were in the previous administration when oil prices were between 91 and 130 dollars.

Since Buhari took over, oil has been between 25 dollars and 80 dollars, and we need it to be at 140 dollars since 2017

Even under the previous administration, the oil price was not high enough for our economic needs. And GEJ did not save because of high spending on subsides and keeping the naira afloat.

@kikero The days of plenty is also in this administration, the crude oil price has out perform future for CO with over $20.

Agreed, not as much as the previous administration, this administration has been blessed with favorable crude oil price for over 2 years running.

So if thou has not been found wanting in little, do not expect to find accountability in the days of plenty!.

Lets go back to farming

voltron14:


How much do you think a country of 200 million people require for its annual budget?

Stop asking foolish questions, the way buhari sang out diversifying the economy you would think by now we wouldn't be oil dependants. It's be 5 yrs going tob 6, yet we still very much depend on oil.

isnovic:


@kikero The days of plenty is also in this administration, the crude oil price has out perform future for CO with over $20.

Agreed, not as much as the previous administration, this administration has been blessed with favorable crude oil price for over 2 years running.

So if thou has not been found wanting in little, do not expect to find accountability in the days of plenty!.

Actually,crude price has not favoured this government at all

Our Breakeven oil price, the price at which oil needs to be for us to earn a sufficient budget was 120 dollars per barrel in 2012, 122 dollars in 2015 and now 139 dollars in 2017.

Meanwhile oil under Buhari has been below 80 dollars since 2015, 75when he took over, 30 dollars in 2016, 80 dollars in 2018 and 27 dollars now.

We have a very large population above 150million which is why even though we produce as much as the UAE, we are not as rich as they are./(UAE has 12 million people max)

That's why Bubu takes loans by the way. The money we earn from oil is not enough and has never been for a while, even during GEJ time

That's why our future is being an industrial nation, and a nation that does not live by oil alone, and does not run on subsidies.

voltron14:


The populace is unimaginative, uneducated and highly unproductive.

This is the stark reality.

Take out this leader, bring in a new set, the situation would be the same until the people realise they aren't actually inventive.

That's the harsh reality.

Bellotelli:

All these you are saying still bows down to the lack of enabling environment by the govt. When the right infrastructures are not in place, even the human capital would suffer. The Nigerian youth i believe are very hardworking and innovative. It's very pathetic that the few ruling elites have succeeded in corrupting there minds.

Bro lemme tell u something...
If we don not revamp our educational sector nothing will ever change, what we have been doing in this country is building and scattering at the same time... But how do we revamp when the North ain't ready, from my stay with them their elites still need the almajiri's shouting "Yanka de de and Nagode baba" when they drive past....
We are not United, tribalism, sabotage, Nepotism and bigotry is still holding us in captivity...
The best solution still remains everyone should go their separate ways because this issue has no ending. An average Nigerian man gat the mindset to loot the national treasury if ever elected into any political office

voltron14:


Nigerians generate an average of 2000 dollars annually.

What miracle are you expecting?

A man produces only 2 thousand dollars of wealth annually but believes he should be living like Jay-Z.

Get real.

You that's talking how much do u generate?
Let's start from there

layzie:
@ Voltron,
I don't seem to understand why u heap the blames on populace and leave out the leadership. It doesn't make sense. U called the popuplace highly uneducated, unimaginative, unproductive and expecting to live like Jayz. Where do u get that from?
same populace that agitated for and govt eventually agreed to pay minimum monthly pay of 30k( less that 100 dollars) How do they expect to live like Jayz with that??
How many of these 200m populace does govt cater for in terms of social welfare as done in the countries with 'productive' populace? and yet how many of these populace do u personally feed daily since they are unproductive and most likely poor without food? The answer to the 2 questions if not zero, is infinitesimal compared to the country's population. And yet, these unproductive poor people eat everyday, clothe and strive to send their kids to school and all that. How do they do manage these while being highly unimaginative and unproductive?
A drive around town will show u myriads of informal enterprises being undertaken by these 'highly unimaginative' populace to keep body and soul together.
They do what they can given the environment they are faced with. A country of 200m still grappling with 3k megawatts of electricity does not support production anywhere in the world. It's not the popuplace's duty to provide electricity. Heap the blames to the right quarters.

How do you expect him to blame the government, he is one of the various presidencial spokesperson charged with making the government look like saints