₦airaland Forum

Not me, but Chippla

Chippla has done some simple maths to reveal that Nigeria is actually quite poor despite the so-called oil wealth. According to his calculations, the country only makes about 2100 naira per month ($15) per citizen. So because of our enormous population, oil wealth is not going to be enough to guarantee us a good standard of living, even if there is zero corruption!

Let's now do the math: 108 billion Naira + 36 states x 2 billion Naira + 774 LGAs x 65 million Naira = 230 billion Naira ($ 1.77 billion).

There are about 120 million people living in Nigeria. Lets divide this sum by 120 million.

Amount per head = 230 billion Naira/120 million people = 1920 Naira/person = $15/person.

Thus, the total amount received by all tiers of government in Nigeria for the month of October 2005 comes to a mere $ 15 per person. Sounds like a very poor nation despite its so-called oil wealth!

http://chippla..com/2006/01/poverty-beyond-corruption.html

What do you think about this? I think we have to look for ways to make every man, woman and child in Nigeria productive. Create jobs people, we shouldn't all be jostling for jobs in the oil sector or banking sector!

And now the CBN is calling them "failed banks". Is it not the CBN that caused them to fail by asking them to raise money that they don't really need to run their businesses?

Banks do need a certain level of capitalization

Lets assume that you are right and banks need a certain level of capitalization. How do you determine how much capitalization a particular bank needs? Isn't not something for the management of each bank to decide? Since when have Government bureaucrats been more adept at predicting the needs of an industry than industry insiders themselves?

Nairaland wouldn't be here today if the government had decided that one needs $300 minimum to start a website. I don't believe that those who have access to the largest pools of money are necessarily the right people to be in control of the banking sector - or any sector for that matter. They should leave room for those entrepreneurs who have the ability to achieve more with less money.

I think you have taken a very commendable step.

However, are you not afraid of the security implications of giving remote login privileges to people you've never met in person? What if some of them are hackers? Hope you don't use the system for any serious work that may be compromised if your system is hacked?

One thing that people always forget is that the world bank is a actually a bank. What do banks do? They make loans and then they earn from the interest. Now will a bank be happy if people are not taking loans? Of course not! So it is in their interest to convince us that we actually need their loans so we'll take those loans and they profit from the interest. A banker's dream is to have everybody borrowing money for every small thing and paying back with interest within the stipulated period.

PrepaidNG: World bank loans are a necessary ingredient for our national development,
or any country, for that matter.

Can you prove that statement? The world bank, just like any other bank, is a very biased source of information about how much money you need to borrow! Let us put that at the back of our minds. Their aim as a for-profit bank is to have us borrow the maximum amount of money we can borrow without defaulting on repayments - that's why they are offering debt relief and at the same time approving more loans!

Source: http://www.vanguardngr.com/articles/2002/cover/january06/09012006/f309012006.html ( to Ono )

Yes, and what is it about Catalunya that the army chiefs are uneasy about?

I apologize to everyone. I haven't been able to find time to do what I said I'd do.

This whole consolidation circus (as well as the Transcorp mumbo-jumbo) is about having the economy under the control of a small number of privileged people and in that respect it seems to have worked marvelously well!

I believe I'm quite good at helping with non-technical decisions like:
- What the title of your short film should be about.
- How you can market it most cost-effectively, and leverage the Internet.
- et cetera.

I also like to be conpensated for my efforts like any other professional!

Sbu, Can you give us a link to a website where we can learn more about your offer?

Well, maybe he made a mistake? Pastors and prophets are human and may make msitakes from time to time, right?

You forgot to mention what "Catalunya" means.

Wow, this is cool! Thanks for sharing.

Those who are saying that one can start a business with 200,00 naira should remember to let us know what businesses one can start with 200,000 naira in Nigeria. This is important.

If you want to settle down early, you should go out with a much older man. The reason is because men are slow to mature and want to settle down. An older man is more likely to have sampled so many woman that he'll be thinking, "ok, I have sown enough oats, now I just want to settle down" while a man your age will be more like "oh no, this girl wants to marry me tie me down".

Maybe the cost of running a standby generator finally got to them!

Thanks, everyone, for sharing your stories. Wendywoks, can you give me the details?

IAH: I don't understand you argument. It's obvious that he doesn't have to marry her to get those goodies.

When was Nairaland officially launched?
http://www.mobilenigeria.com/viewtopic.php?id=193

Who were the first 3 members (aside u)?
https://www.nairaland.com/nigeria/action-mlist/sort-registered

Tell us all we need to know about Nairaland?
https://www.nairaland.com/nigeria/action-search

Or rather all you can tell about Nairaland
Nairaland is the best.

Yes, there is a national ID card but those that don't have it right now won't be able to get it until several years from now when another ID card exercise is carried out.

Source, please!

And what was the woman's reaction? Is she on good terms with her husband? He must really love her to want to marry her; I wonder how that's possible.

Hello omo naija. Welcome!

I am so sorry about this incident, kbstar. I hope the new inspector general of the police is aware that things like this are happening.

Yeah. I wonder what they were thinking when they decided to launch with low prices. Are they trying to compete on the basis of price when they have an international brand that signals high quality? What is that?

Guys, I'm feeling left out o. How can I participate?

See me see trouble o. All the ladies are either praying or doing nothing!

If the product is genuine such that people will buy it whether or not there is an incentive to promoting it, then it's probably legitimate. I's ok to pay someone for referring your product but in a situation where there is no one buying the product for a genuine need but all those who are buying it are buying it so they can get rich by convincing others to sell it, then there's a problem.