Golan007:
Why don't we make own microchips, Jeans, vessels, aeroplanes, wristwatches?


For years and years, we've failed to construct and maintain a nationwide rail system.

When we begin to make progress, we begin to ask questions with ulterior motives.

Aconomist:
We have cement companies in Nigeria: Dangote. We have civil engineering companies: Julius Berger/Chagoury.

ThePlainTruth:
When we start teaching our own local technology in our schools and Universities on how to improve on our own technology which will allow for our own industrial revolution and will make us to be self sufficient. We have the same knowledge too which we need to develop. Check this video of making iron with 100% local African materials.


https://www.youtube.com/watch?v=Hd4k6lb3O4E

10minutes:
because we dont have the money.

Aconomist:
... Nigeria has plenty of money.

rossoki:


US Annual budget - 7.6 trillion dollars.

Nigeria Annual budget - 35 billion dollars.

''Plenty of money'' indeed.

Ignorant dunce.

You lack even basic knowledge of the budget and finances vis-a-vis other nations, yet you are telling us 'what we must do' in Nigeria.

Only on nairaland.

Aconomist:
monkey. Nigeria has plenty of money.

10minutes:


go to school you say no..... i am guessing u are igbo ? why is it that u guys behave like u have sense but still don't?

the u.s spend 1trillion dollars on their military can you spend this much?

Aconomist:
$35 billion annually is more enough to get Nigeria on the right track. And with a GDP of around $400 billion, Nigeria should be able to raise $80 billion annually if we had a 20% tax rate. Lack of money isn't the problem. The problem is a low tax to GDP and bad spending decisions.

According to former central bank governor Sanusi, the government spends 20% of its budget on the national assembly. The remaining 80% is spent on salaries and other sundry nonsense. That's why we must borrow for infrastructure.

Aconomist:


Nigeria pays senators $35,000 a month (along with free luxury cars, etc.) , compared to the U.S who pays senators $16,000 a month. But you want to complain about lack of money? I have never seen such a hopeless nation of educated illiterates. If a meteor strikes this earth, may it land on Nigeria -- specifically lagos, so it can eliminate the highest number of suffering and smiling Nigerian monkeys.


https://www.bbc.com/news/world-africa-43516825

Aconomist:


Nigeria pays senators $35,000 a month (along with free luxury cars, etc.) , compared to the U.S who pays senators $16,000 a month which comes down to $7,000 after tax. But you want to complain about lack of money? I have never seen such a hopeless nation of educated illiterates. If a meteor strikes this earth, may it land on Nigeria -- specifically lagos, so it can eliminate the highest number of suffering and smiling Nigerian monkeys.


https://www.bbc.com/news/world-africa-43516825

Aconomist:
Best video I've seen so far in 2021. Manufacturing like this requires ZERO forex. All the raw materials, labor and machinery is found domestically. That means the price of the item won't rise if the naira is devalued.

rossoki:


Sanusi LIED when he made that claim. It was a BIG FAT LIE. Plus salaries are not ''sundry nonsense''. Civil servants must be paid for going to work.

It's easy to propose a ''20% tax rate'' on the 400 billion dollar annual GDP. Good luck enforcing that in a country where 3/4ths of businesses are unregistered, informal mom and pop shops with no accounting or business bank accounts.

10minutes:


go to school you say no..... i am guessing u are igbo ? why is it that u guys behave like u have sense but still don't?




the u.s spend 1trillion dollars on their military can you spend this much?

vanunu:



You are a big fooool, inferiority complex will kill you.

10minutes:
because we dont have the money.

rossoki:


US Annual budget - 7.6 trillion dollars.

Nigeria Annual budget - 35 billion dollars.

''Plenty of money'' indeed.

Ignorant dunce.

You lack even basic knowledge of the budget and finances vis-a-vis other nations, yet you are telling us 'what we must do' in Nigeria.

Only on nairaland.

Meanwhile, California is planning to build a railway line from LA to San Fransisco at the cost of 98 billion dollars. Ask them if they're planning to use WOOD to build it like their 18th century forbears?

https://www.governing.com/archive/gov-5-biggest-us-infrastructure-projects-plus-5-at-risk.html

chrisblack:
your talk is not reasonable
Amount of money spend on a thing is relative. You can choose to go spend your money on rolls-royce of trains while I choose to spend mine on Toyota of trains. Americans spend much on infrastructure yet they don't have speed-bullet trains like the Chinese.Many of the American train system is outdated.
With little amount you can still achieve much
The problem is everything thing need for train development is already available in Nigeria.
We choose not to develop them.
The money spent on the railway tracks could have been use to revive ajaokuta.which in turn would produce the steel needed for the tracks. There is a company in South Africa that makes coaches.which would have been willing to bring it's expertt to Nigeria and setup. Even the NRC has local capacity to build coaches.its not rocket science.
We are a stuip bunch of people.always importing what we have

Aconomist:


Nigeria pays senators $35,000 a month (along with free luxury cars, etc.) , compared to the U.S who pays senators $16,000 a month which comes down to $7,000 after tax. But you want to complain about lack of money? I have never seen such a hopeless nation of educated illiterates. If a meteor strikes this earth, may it land on Nigeria -- specifically lagos, so it can eliminate the highest number of suffering and smiling Nigerian monkeys.


https://www.bbc.com/news/world-africa-43516825

Aconomist:


Nigeria pays senators $35,000 a month (along with free luxury cars, etc.) , compared to the U.S who pays senators $16,000 a month which comes down to $7,000 after tax. But you want to complain about lack of money? I have never seen such a hopeless nation of educated illiterates. If a meteor strikes this earth, may it land on Nigeria -- specifically lagos, so it can eliminate the highest number of suffering and smiling Nigerian monkeys.


https://www.bbc.com/news/world-africa-43516825

rossoki:


You would be surprised that the cost of reviving Ajaokuta and using its steel, and then getting a South African firm to supply coaches would be TWICE or even THRICE higher than that China solution.

I've personally tried to use South African firms to supply certain machinery etc, but dropped them after discovering they were charging nearly double of what the Chinese were charging, including shipping.

China has achieved what we call Economies of Scale in manufacturing and civil engineering and construction. They can do many things for a very low price, and that is why countries all over the world, not just Nigeria, are attracted to Chinese solutions.

In any case the Chinese are building a massive railway manufacturing plant in Ogun state that will employ over 5,000 Nigerians, so it's not as if we're not looking to be self-sufficient down the line.

Chinese firm to build first rolling stock assembly plant in Nigeria
http://www.xinhuanet.com/english/2019-11/10/c_138543820.htm

Austine1213:


Quality doesn't come cheap