₦airaland Forum

EternalTruths:
When will Buhari stop eyeing the oil wealth of the Freeborns and introduce True Federalism


OP

Anything outside True Federalism won't work

gohome:
Can we discuss without name calling? Plus I need solutions not blames. Please let us focus on the solutions to our problems with minimal or no blame

gohome:
We have a problem.
1. Weak Fiscal Policy and political structure.
2. Executing good economic policies.


I will only touch on 2 because the ruling party does not have the nerve to dismantle the fiscal structure we have now. Also so unfortunate the last one could not. In the next elections, we should vote for the guy that will stop handouts to states. The gain of just this single decision is too enormous to mention in this thread. Will create another thread highlighting this

I will go ahead with number 2. Solutions to number 2 start with a good plan (budget). Unfortunately we have started off in the wrong foot. The growth rate of a country depends on rate of saving and investment. For this purpose, budgetary policy aims to mobilise sufficient resources for investment in the public sector. Therefore, the government makes various provisions in the budget to raise overall rate of savings and investments in the economy. what I have seen so far in this years budget is not impressive. Hopefully next year will be much better.


Another example as regards to policy is curbing inflation rate. Look around you, you can hardly find anything manufactured in Nigeria. So what it means is that inflation is going to be in double figures because of a devalued Naira at 310 to a dollar. It's a bad policy to fix the Naira and not let market forces work. A good example to explain this bad policy is the way and manner we have handled our forex. Firstly, the entire policy to control our outflow was not carefully thought through. What we are doing is fixing the roof because of bad foundation. Or repainting the car and feeling good when your engine is about to knock. Bad precedence we have laid in the past 50 years. Keeping the right to set the dollar price exclusively to CBN is a recipe for disaster. It's only a matter of time and that time will be when oil is worthless. Do you know that the CBN gathers all our dollars and print Naira equivalents of these dollars. They flood this Naira in the economy and because the GDP growth is not equivalent to the Flooded Naira, inflation starts to kick in, the CBN the go ahead to reduce to cash in circulation by raising interest rate, selling T bills and even borrowing from bank at huge cost. Imagine! The simple solution to this is to let it stand on its feet. Every body source for your dollars and let your customers buy it at any price.

But wait a minute, the decision to do that is not so simple, the dollar will reach 500 Nairas, so politically, it will be suicidal considering the fact that 1 Naira was suppose to be of equal value to the dollar.

A true devalued Naira may be a solution to our problems. It will reignite the real sector. Manufactured good in Nigeria can now compete with foreign goods In Nigeria. Thousand of Jobs will be created. We will get better at it and even start to export. There is hope people.

That's the only way. For you to increase your outflow, you have to be able to sell manufactured products, resources like oil etc can not cut you in. To be able to manufacture competively with China, Germany etc, you will need

1. Technology
2. Fiscal policies, tax cuts import waivers on heavy duties etc
3. Most important, Infractructural development (1 Trillion US at least).This will include power, rail, roads, ports etc. unfortunately, we have squandered billions of hard earn forex that should have been used for this
4 Human Resource - STEM professionals, technicians etc
5. Strong Policing- strong police force, legal framework etc.
6. Strong Foreign policy

What do we do?
1. Can we as citizens reach out to our legislators that the budget should reflect the above and don't be passed until it is changed.

2. Can we also push for a well laid out fiscal policy

3. Can we also push for a policy that will ban all forms of commodities except heavy duty equipment from accessing forex from the CBN

4. Can we set a hard target for the power problem to be fixed. (Milestones included). All projects in the world have targets

5. We consume 40 million liters a day of PMS. Dangote refinery will do 10 million liter max. Can we rigorously push for 4 Dangotes to build refineries especially from the oil majors in country.

6. With just a 10% increase in GDP and 30% increase in manufacturing, 2.2 million barrel a day of oil we produce will not be enough for local consumption.






Came across the link below and I thought it might be interesting.

https://m.youtube.com/watch?sns=fb&v=xex7NAhTR_w

kodded:
will this news bring back the 63 people that lost life because of lassa fever ?

will this news change the fact that buhari stole the "budget of change" and lied that he didn't ?

will this news save the job of those workers that will lose their job because of buhari poor economy policy ?

will this news change the fact that buhari dont know how to make the economy less dependent from petroleum ?

praxisnetworks:
Amaechi work and stop talking.... Abegi ...you have nothing to show since you have been singing like a canary.... All your achievements have only been when you kept quiet

kissval1388:
hello nairalanders.
I have been using this Glo blackberry subscription for androidand am enjoying it.
the reason why I opened this post is to ask my nairalaners if this act is sin.
someone told me that it is cheating because Glo mobile thinks the user is using BlackBerry.
so my fellow nairalanders and christian friends. what do you have to say about this?
is it a sin or not?
is Glo mobile aware that android users are doing this?
thanks. I expect matured replys

ShowYourCertificate:
Yes. It also means our clueless Buhari should stop wasting our money searching for crude oil in Lake Chad. This is the time Buhari needs to sharpen his economics skills. Maybe he can enroll for O'Level Economics in this oncoming WASSCE

dearpreye:
Lalasticlala, cone see this vital article this morning.

GEJ has nothing to answer to anyone.

angryhumanbeing:
Good Day pals, please pardon all grammatical errors because I am very angry now as I write this.
I am a known person here but I decided to change my name.

I am a banker. I was working in bank X before i joined bank Y. I had wonderful experiences in bank X. I decided to join bank Y so as to have experience there too. But ever since I joined bank Y, it has been disaster working there from the very first day I entered there. The manager has been tormenting me from the very first day he sighted me. I dont know if we have struggled for a babe b4, i just dnt knw. I am a permanent staff but this man treats me like a cleaner. The time for us to be in the office is latest 7.20am but in my first week there, i came to work by 7.17am and this man was shoutn and embarrasing me outside the bank where customers queues up to withdraw from the atm. Dat was my first bitter encounter wit him. I was brought to the branch as Funds Transfer Officer but it took this manager a full month to create me as FTO. On my Third day on the job, He connived with another bad colleague and they pushed me to the atm as ATM Custodian. This I was doing with tears because this man was just making life unbearable for me by threatening me all the time. All the jobs in the branch was given to me to do except FTO jobs. He refused creatn me and even wen i was later created, he still refuse i work as FTO. Theres sometn called cashdrop box, and its meant for contract staff to work there but this man forced me to work there for even upto a month combined with atm custodian and other cash jobs while the other bad colleague walks around pressing fones and chattn. Later in November, the Area Manager visited and said i should be returned as FTO. Ever since then, this manager will pack other peoples job on me and be embarassing me in front of customers when I dnt finish them. Whenever I tried to complain, he will start shoutn and insultn me in front of customers. This has been happening for upto 5months now. I joined this particular bank in late August and by middle of september, 6 staff angrily left the branch because of this manager and his accomplices. By tomoro, another staff is leavn becos of constant quarell wit manager. The branch has been under wicked rule by this manager and the other bad colleague. For the past 5months I have been here, its been hell. I have reduced drastically in size. Even size 30 trousers are very loose on waist now becos of so much thinkn, insults and harrasments from this man.
I have planned to resign at the end of the month becos of the evil torture of this man and the other bad colleague. Please I need matured advices becos i am almost like a walking corpse. Each week i feel sick here. One sickness or the other.
Any day i remember i will go to dat office, my mind will be filled with sadness becos theres no single day this same man will nt harrass me.

Pls mods help me. I need advices and i have made up my mind to leavn here becos each day i see this man and the other bad man, i feel like shooting them to death becos as i speak nw, the other bad man does nothn in the branch. He only snaps pics,chat and walk around. He comes to work by 7.45am and the manager will nt say a word!

Pls mods help me do the needful. Thank you.