₦airaland Forum

ballabriggs: Non-oil revenue 40% of budget? Reason why they cannot implement budgets to 40%.

Rubbish

20pounds: So much for the opposition that call themselves " progressives" and promise a different way of doing things.

I repeat that if Buhari and Tinubu were to be in Jonathan's shoes, they will never allow free and fair elections in Nigeria. Example is how both of dem ,single-handedly and in their bedrooms, handpick those that fly the flag of their parties. They hate lossing elections, even when it is the popular wish of the electorate that prevailed.

The first characteristic of an election rigger is that he is a bad losser.

taharqa: MODS, abeg consider this thread for FP

https://www.nairaland.com/1539312/experts-hail-nigerias-soaring-nonoil#19932682

SIGNS/Figures indicating that the Nigerian Economy has Finally Started to Diversify... This important developing Info should be out there.

Thnks

engrfcuksmtin: Sorry Adeshina is well known to some us before his appointment, he has consult for Food and Agricultural Organization, several countries to formulate viable and successful Agricultural policies. But we are all wondering what become of him now in GEJ government; he has good ideas which he has sold to the government most especially the one's on rice and cassava but they are almost dead on arrival as a result of saboteurs, and bad implementation.

ROSSIKE: He's by far the best Federal Minister of Agriculture we've had. He's completely transformed the sector with some very dynamic policies that are seeing unprecedented investment in Nigerian agriculture by local and international players. If he's there till 2019, Nigeria will meet local demand and become a net food exporter, without a doubt.

............................[img]http://www.mydailynewswatchng.com/wp-content/themes/sahifa/timthumb.php?src=/wp-content/uploads/2013/05/Dr.-Akinwunmi-Adesina.jpg&h=330&w=660&a=c[/img]

AtlanticBreeze: http://www.osundefender.org/?p=132110
http://abusidiqu.com/breaking-news-anambra-2013-arrested-observers-bonafide-accredited-officials-says-inec-commissioner/

rotas: When thomas saw jesus He finally believed.make a trip to ajaokuta,our newspapers wont report all these good development.

solomon111: Nigeria should've been a global manufacturing giant by now.
The resources are there,the skilled Nigerian personells can be sourced both in Nigeria and the diaspora,the only thing we've been lacking is decent governance to put all these factors together,and invest in critical infrastructure.
It's nice to know that we may have begun to get it right.

taharqa: Just about 6 days ago:

[size=18]Nigeria’s cement production surpasses South Africa[/size]



As at 2002/2003, Nigeria could only produce 2million tons per annum and was the largest Importer of Cement in Africa (by far) as well as one of largest importers in the world (I think at one time, the 2nd or 3rd highest). TODAY (and at less than 8 years), Nigeria has not only STOPPED the importation of Cement but have even started Exporting some quantity. This it has done by raping up Domestic Production from 2million tons to over 28million tons per annum (almost HALF of the entire Africa's 62million tons per annum Production volume) and has now significantly surpass the 18million SA figures (a country that had Production Volumes about 5times more than that of Nigeria's), just as there are still huge rooms for further growth. All these in less than 8years (from OBJ to Yar'adua to GEJ)!!!

Some Sectors where this same Backward Integration Policy include Sugar, Cassava, Rice, Palm Oil, and even the recent introduction Automotive Policy. If we keep doing what we are currently doing, we very likely going to encounter similar Successes....


http://www.ventures-africa.com/2013/05/nigeria-saves-1-8m-through-local-cement-production-trade-minister/ (last year production's volume)

django1: What did he do that qualified him for that honor.

ballabriggs: Diversified? Rubbish

Where oil is still the main source of government revenue and spending. Where oil is the main foreign exchange earner.

I only need to see the monetary policy direction of the CBN to know if the economy is diversified.

With falling oil revenue, it is raising interest rates to reduce the pressure on the reserves, it is devaluing the naira to hold the reserves and maintain macroeconomic stability. But guess what, it is still far from stability.

To talk of a diversified economy is grand delusion.

Sincere 9gerian: Nations, Punch, Vanguard, Thisday, Sahara Reporters,etc are not just interested in this story. The question is, why?

Abagworo: I've read about a lot of economic goodies on paper. An example is India where to the best of my knowledge is the only stable country worse than Nigeria in living conditions. Ordinary people like myself will only believe this if cocoa farmers become wealthier than oil merchants and communication giants. Maybe when shoe makers in Aba become wealthier than oil dealers in Port-Harcourt.

A report conducted by the financial advisory company Renaissance Capital (RenCap) has revealed that Nigeria is now the largest cement manufacturer in Sub-Saharan Africa and the third largest in the Middle and East Africa regions (behind Egypt and Saudi Arabia) due to an increase in production capacity in the country.

According to the report, the Nigerian cement industry capacity has reached 28 million tpa. South Africa is currently producing at a rate of 18.3 million tpa and the rest of the region combined has a capacity of 62 million tpa of cement. The introduction of the Backward Integration Policy (BIP) in the Nigerian cement sector has also seen the industry’s production almost double between 2005 and 2012. RenCap has predicted that Nigeria will continue its high production levels, peaking at around 50 million tpa in 2020.

The strong performance in Nigeria has also been mirrored in the share prices of cement companies such as Dangote Cement, Lafarge WAPCO, Ashaka and the Cement Company of Northern Nigeria (CCNN), which are returning at a higher rate than the Nigerian Stock Exchange All Share Index.

David Nangle, leader of the RenCap research team, told local press that the cement market in Nigeria has changed considerably over the past few years due to rising demand, increased investment, economic growth and favourable government regulation. The company is reported to be optimistic about the sustainability of Nigerian cement demand and production in the long-term.

http://www.worldcement.com/news/cement/articles/Nigerias_cement_production_surpasses_South_Africa_461.aspx#.Upx7HNJJOX8

Kollins12: Your problem is IGNORANCE: so you still don't know at this stage that Islam has nothing to do with B/Haram, anyway! I do not blame you,naivety based on mental complacency in you is the cause of your foolishness.

Sincere 9gerian: A beg, what do you know about the rumoured plans to reduce tarrif of imported rice again? I just hope it's not true because that will slow or nullify the gains made so far in boosting local rice milling capacity.

PhysicsQED: Seems that India actually won the men's weightlifting part, while Nigeria won the women's part. Or is there something I'm missing?

Nigeria’s earnings from cocoa beans exports in the first half of this year stood at N117,966,174,567 (about N117.97 billion), making the product the second largest non-oil foreign exchange earner for the country during the period under review.

The product, which was categorised in three export forms namely, quality raw cocoa beans, cocoa paste, not defatted, and Superior quality raw cocoa beans, has over the past two years been showing remarkable growth and a major source of revenue earnings for the country just as cashew nuts, sesame seeds, hides and skins improved their revenue earnings as the Federal Government continues to rev up its commitment towards improving the contributions of non-oil sector to the Gross Domestic Product.

According to the latest Trade Statistics Report published by the National Bureau of Statistics, NBS, quality raw cocoa beans raked in N27,072,412,608 compared with Cocoa paste, not defatted’s N15,499,462,824 and Superior quality raw cocoa beans’ N13,196,183,953, making the gross earnings to stand at N55,768,059,385.

Export revenues from Superior quality raw cocoa beans in Q1, 2013 were N62, 198,115,182. A breakdown of the non-oil sector export value based on product-by-product categorisation from January –June showed that Tech. Natural rubber in primary forms or plates topped the foreign exchange earnings chart, grossing N346,525,545,217, followed by tanned or crust hides and skins of other in dry forms which raked in N50,571,227,961. Tech.

Natural rubber in primary forms or plates earnings in Q2 stood at N188,149,818,070 while Tanned or crust hides and skins of other in dry forms raked in N45,160,028,409 during the same period. Others are, Sesame seeds, N41,513,763,308; Leather further prepared after tanning or of goats or kids N25,137,721,850; Earnings from the two products in Q2, 2013 stood at N28,068,106,833 and N16,577,829,957 respectively.

Ginger exports raked in N12,391,202,116 for the six month period compared to Cigarettes containing tobacco’s N12,173,914,200. Footwear, nes, not covering the ankle, of rubber or plastics, N16,321,323,023; Uncombed cabled cotton yarn, greater than 85%,nprs, less than14mn but less or equal to 43mn psy, N16,437,270,508; Dried, dyed, bleached/otherwise prepared cut flowers and buds, N 8,189,107,093; Printed books, brochures, leaflets, etc, in single sheets, N15,284,162,505.

Other milk and cream in packs less than 25kg not containing added sugar/sweetening earned N12,588,537,184; Wood charcoal of bamboo, N11,008,126,524; and Frozen shrimps and prawns N4,963,195,130 and Propane, liquefied, N6,497,275,322.

http://nationalmirroronline.net/new/nigeria-earns-n117-97bn-from-cocoa-exports-in-six-months/

[b]Experts in the financial sector have applauded the nation's soaring non-oil exports growth stressing that if sustained, it would mark a watershed for Nigeria on the road to diversification of the economy.
The Central Bank of Nigeria (CBN) had revealed in its third quarter (Q3) 2013 economic report that non-oil exports soared to $2.64 billion in the review period.

In a report made available to THISDAY, analysts at FBN Capital Limited stated the federal government's decision to invest in sectors that create jobs the most in the economy would further enhance the country's economic growth.
According to the experts, "We hesitate to welcome a sea-change since the figure cited for the quarter is not far short of the 12-month totals for 2011 ($3.21 billion) and 2012 ($3.00 billion). Seasonal factors may be the answer although the CBN’s separate External Sector Development Report for second quarter (Q2) 2013 indicates that non-oil exports are more likely to peak in the first half of the year than the second.

"The breakdown of non-oil exports by sector is consistent with recent years. Agriculture’s share of the total amounted to 52.5 per cent in 2011 and 47.1 per cent in 2012. The predominance of agriculture also emerges from the CBN’s list of leading exporting companies in its annual report. The five largest in 2012 in descending order were exporters of: sesame seeds and cocoa beans; finished leather; cotton and cocoa beans; leather; and cigarettes."
They added : "Beyond agriculture and agro-processing, we are not aware of the emergence of any sizeable non-oil exporters. Steel exports were due to start this year, and the Dangote Group’s proposed $9 billion petrochemicals city could make Nigeria a net exporter of fertiliser and petroleum products by 2016. For now, we await the Q4 2013 data and longer commentary in search of a trend."[/b]

While hailing the federal government's strict fiscal stance, they pointed out that the National Assembly would likely challenge FG's fiscal stance when the presidency finally submits its 2014 budget.
“A reduction in projected fiscal revenue in 2014 in the budget office's latest Medium Term Expenditure Framework has reduced FGN retained earnings to N3.58 trillion from N4.10 trillion in the current year’s budget (and N1.85 trillion actual in H1 2013). In order to contain the deficit, the authorities have pruned expenditure. They have targeted capital items in a bid to limit opposition in the assembly. The largest recurrent item is personnel costs.

theoctopus: Who cares what liar Mohammed says? He is an iddiot!

Abu Mikey:

[b]With just 14 lifters, while Malaysia nd India brought over 100 lifters


***standing at the city Center of Goa, waving the green-white-green flag of Nigeria***


[/b]

bestview: . As for the road under question, we have set aside the funding for it, so that one is not a problem at all. May I take this opportunity to inform you that upon all this, and despite not having borrowed any money, we shall leave with over 20 Billion Naira in investment for the State”, Obi said.

Onyejiuwa okoh: Nice development if it is true because our Governments have deviced a new method of media propaganda. I pass through Imo state to see the African tallest building Gov. Okorocha built but i did not see anything. I pass through Onitsha to see the sea port our president went to commission last year but i did not see anything there. I entered Aba to see the massive road construction being advertizes by T.A Orji but i nearly lost my car to the pit(roads) all over there. God will save us from these gabbers. But i still trust Chime for he is a silent achiever.

Nigeria’s fine run in sports continued Saturday in Malaysia where the nation's weightlifting team won the 2013 Commonwealth weightlifting championship.

Nigeria won a total of eight gold, three silver and three bronze to lift the female championship trophy, while India lifted the male diadem.

Hosts Malaysia and India with a large contingent of over 100 weightlifters and officials were shocked on the final day when the brilliance of team captain Miriam Usmand Joy Joseph saw Nigeria topping the female medals table.

Usman , who missed London 2012 Olympic medals by whiskers won gold on the final day alongside Joy Joseph, a feat that saw India's coach weep openly.

During the medal presentation, the Indian lifter that won silver could not but shed tears of disappointment, as Miriam's gold did the magic of Nigeria winning the competition, even when Nigeria presented only 14 lifters.