Accept or reject,it's an agreement. It becomes binding with your payment

RIP

That deep voice is gone forever

You won't see me mock anyone

Standing5:
Mad Politician indeed. ^^^

The article talks about low level staffs pocketting govt revenue or tolls on projects that have loan repayment schedule waiting to be fulfilled. Thats a typical Nigerian showing true colors. I also blame whoever approaches China on behalf of a whole nation to execute projects in constituencies that cannot repay loans because they believe they won a war of resources and should never have to pay for public utilities frim their pockets.
As for the state governors signing sub national agreements and therefore tying Nigeria as a whole into messed up agreements, thats perfectly down to a structure that empowers states to spend freely but never asks what they do or motivates them to be productive or earn. I watched as El Rufai plundered Kaduna resources for his religion and then became the chief advocate for subsidy removal just to to keep states getting huge allocations and running. Why must economic units that spend unquestioned be created? No appraisals or submission to a higher authority. The structure we run was put in place to allow resources cornered by Hausa Fulani dominated FG in addition to Igbo and Yoruba to spend unquestioned, SS resources and this has led to culture of recklessness where the winners or emperors(governors) take it all. Two of the last four heads of Nigeria are were state governor at some point in their career and their tenure has turned out worse than those with no state governing experiences. Look at the national embarassment Ogun state just caused us. What do they have thousands of aides for? They are just a burdensome extention of the FG that brings nothing back to the FG save the cornered resources of the conquered regions. Before now the narrative was that the money other resources can bring in is too small compared to oil. But seeing that oil revenue has been oversubscribed by mouths waiting to be fed and most heavily, by debts to be repaid, the gap has been drastically closed, so why isnt anyone asking about gold and other resources?

The wasteful spending of the free oil money from Niger Delta is the problem of this country. Considering the huge petrol dollar the country has earned,It is has not impacted on infrastructural development or improve the living conditions of average Nigerians.
We know how governors steal without care.If Gold,Oil and other natural resources are left for states to manage,is there possibilities of doing better than the federal management of oil revenue

MadPolitician:
The Chinese are not our problem.The only condition that the Chinese usually put on their loans is to demand that their companies help with any construction works. That is reasonably fair. The people strangulating Nigeria economically, are the world bank and the IMF. These two organisations are responsible for messing up the country with the demonicconditionsattached to all the billions they loan to corrupt regimes.

Right from babangidas structural adjustment programmes, to obasanjos privatisations that handed lucrative government agencies over to western proxies, to tinubus war on subsidies and floatation of the naira, all IMF/World Bank conditions for their loans have proven to be nothing but slow poison. These are conditions well programmed to help destroy the economies of developing nations.

Without subsidy on power,fuel and this messed up devalued naira. Is it still possible for local/foreign investors to establish industries the way it was before SAP?

Except the miracle of 1999 to 2007 happened again,to me Nigeria is dead!
Instead of distracting on massive infrastrural development on his second term due to politics of succession. With the money he made after debt payment,Obasanjo should have totally focused on making Niigeria one big construction site.
All the money he saved for his successors are now stolen. And they have even borrowed more,without any meaningful project to show for it

meobizy:
Every older man I know chases younger females. I’ve never seen younger or older men who prefer older females. Anybody who claims otherwise is lying and is an incel.

It is not only NNPC that is the problem.If the system is to be sanitised,many people fathers and mothers in ministries and parastatals would be out of jobs.

Those that really do the work in government establishments are not upto 25%, the rest are sit warmers that get paid monthlies.

lazkizz:
Nigeria revolution go worst pass Libya 🇱🇾 own.
Like 25 warlords will be controlling different parts of the country.

Many will lost their life . The British will try to re amalgamate the broken country but it won't work.
Neo colonialism will end after the brutal civil war, the middle belt will feel the heat more than any other region.

After some years each part will experience rapid growth and development, because they now control their resources.

Empires rise and fall. It is only a matter of time before this one too comes to an end.

I don't know what is going to trigger it,but this one has displayed the common symptoms that ended empires. We all are going to know how to cook when free meals end

Salt06:


What!!! 1959? elders dey this forum o. Greetings to you sir and nice to meet you here

The quoted is from Late Obafemi Awolowo and not from me. You are welcome

You are right elders dey this forum

Tokskob2008:
That's their cup of tea.

You can't raise, nurture and shield banditry and terrorism then except to be safe all in the name of politics.

Their leaders were so cool with the useless life that led the kids to all this just because they needed them to remain uneducated, poor and loyal all for politics.

“Because they were not educated the voters could not make up their own choices. Rather, the innocent people of the North had to be dictated to by Emirs and the elites who feed them on a regular basis whereas in the Western Region, people could argue with their Obas, could read manifestos and make an independent choice which party and which politicians to vote for. Unfortunately, all my efforts to liberate the North from the cruel jaws of the oligarchy were frustrated by those who prefer the status quo to a new dawn of educational advancement. You can see that even now, the educational gap between the North and South is increasing by leaps and bounds. All the talk about catching up is non-sense…how can you catch up with somebody who is running while you are crawling?”

5. “But I think that the sooner than later the leaders of the North will see the repercussion of their selfishness and carelessness in their attitude towards Western education.
Obafemi Awolowo

MadPolitician:
If you have lived in the north in the 90s and early 2000s, you would have known that these things that are happening today, were inevitable. For whatever reason, the north intentionally criminalised education. You will get to the road and see dozens of small children in their thousands, clutching dirty bowels begging for food. Sometimes, they eat from dustbins, or food thrown away from restaurants. I mean dozens of kids with flies all over. Very dirty, very unkept, barwly dressed. I could not wrap my fat skull around it.

I mean, how do you allow your own child to eat from the same place with streets dogs? How do you not know that without any education and training, they're bound to be criminals and most importantly, how do you allow any religion or preacher to convince you that subjecting your own son to such beastial treatment is the surest path to heavens? I remember when Babangida Aliyu said that almajiri is their tradition and that no one should get involved. That was when they were fighting Jonathan. We are dealing with the consequences of that evil tradition, because all these terrorist groups recruit from the alamajiri hordes..

”In 1959, during the election that was to usher in independence in 1960, I embarked on an elaborate campaign in the North. I was using helicopter to campaign in every nook and corner of the North. The most important aspect of the campaign of the Action Group was free education, life more abundant for the generality of the people etc, etc. Our manifesto was centred on the development of man. We worked so hard that the Sardauna of Sokoto, Ahmadu Bello, was forced to campaign, a thing he was never used to. My hope at that time was to liberate the North from illiteracy, ignorance and the ranka dede mentality. If I had won the election, I would have put a lot of money educating the North in order to bridge the educational gap between that region and the Western and Eastern Regions. This was because I saw the lack of education as a stumbling block against political enlightenment of the whole region

bassdow:
in this life eh, One has to be Smart & Intelligent.

I am the kinda person whom should you judge by appearance, would consider too poor as to afford to feed mySelf once per day.

I often ensure I have at least 2 SMS alert from my bank depicting account balance less than 10,000 naira.

Something happened mid last year when I ran into Vigilante guys. Those are thieves who are employed as Vigilante and they work with Police. I was innocent except I came back late hence ran into them and was detained. Later they asked for money and I cried I had none. they stylishly collected my phone - no be better phone sef. na CAT phone wey ugly so tey even alaye go pick am give you back. Dem use style go through my messages and believed me though they wasted my time sha because I spent the night with them.

Also some years back, I rushed into a Bus, not knowing it's used by Policemen on Mufti. na so dem take style search me but found nothing. Me wey poor die. While others struggle to show the world wealth that they might not even have, me ma default appearance na opposite.

Often, I suggest Your main account should never have ATM or internet-Banking or USSD facility. Even the account having such facility shouldn't have beyond the money you can't easily forget should it fly away.
Anything else, just walk into the banking hall and do it there. To me, it's worth the stress.

Default appearance

👍

Nicholas admitted to the interviewer he was a jailbird. Trying giving a second chance may not be a nice thing to do after noticing his flaws

nairalanda1:



Well at some point, we have to take hard decisions

Refusing to do so is why we are here.

Manufactured goods and services. The only cure for dutch disease

Those first generation Nigerian industrialists attracted investment when incentives were there and Naira to Dollar was good. 1.6 billion Naira and other added expenses is needed to get a machinery valued at 1MUSD. How many risk takers are out there?

Maybe small production of manufactured goods as I see it. What this nation was designed for is to export agricultural crops. We should just go back to our agro economy of pre 70s and what SAP intended for us. This is what the westerners want or

nairalanda1:
To increase the value of their currency, countries could try several policies.

Sell foreign exchange assets, purchase own currency
Raise interest rates (attract hot money flows
Reduce inflation (make exports more competitive
Supply-side policies to increase long-term competitiveness.

SAUCE

THE GREAT NAIRA DREAM: THE BOLD STRATEGY TO ELEVATE NIGERIA'S CURRENCY


Aderogba Otunla, Ph.D.
Managing Director | Google Workspace Expert for Emerging Markets
Published Oct 24, 2023




Imagine a world where the Nigerian Naira stands toe to toe with the US Dollar. It might sound like the stuff of dreams, but it could be closer than you think. Buckle up, as we dive into an ambitious plan set to transform Nigeria's economic landscape in just 48 months.

The Grand Vision: 100.00 NGN = $1.00 USD


THE CURRENT LANDSCAPE: A SNAPSHOT

Right now, Nigeria's economic indicators might make you scratch your head in disbelief. The inflation rate stands at a staggering 25.8%, and unemployment lingers at 33.3%. Foreign reserves? A modest $35 billion. However, beyond the numbers lies a nation poised for transformation.


THE 48-MONTH BLUEPRINT

GDP Growth is a lighthouse showing us the way. Increasing this is the cornerstone of our strategy. While the present 2.5% growth may seem humble, the plan aims to catapult it to an impressive 4.5% by the end of our timeframe. But why stop at GDP?


1. INFLATION: Currently, our shopping baskets cost 25.8% more each year, but imagine shaving that down to a mere 3% in just four years. It's audacious, but with the right monetary controls, not impossible.

2. EMPLOYMENT: Every Nigerian dreams of stable work. The plan sees unemployment plummeting from 33.3% to a more palatable 18.9%.

3. FOREIGN RESERVES: From $35 billion to an envisioned $55 billion, boosting confidence in the Nigerian economy from foreign investors.

4. INTEREST AND TRADE: Lowering interest rates could kick start businesses and increase investments. Couple this with an increase in the trade surplus, and the Naira's value could soar.

5. FISCAL STIMULUS: While we're at it, why not bolster government spending from $50 billion to $70 billion? This could supercharge sectors like education, health, and infrastructure.


THE ROAD AHEAD

This journey is not without its challenges. For every soaring aspiration, there's a pragmatic hurdle to clear. However, the Nigerian spirit is resilient.

1. POLICIES: Crafting sound macroeconomic policies will be key. Tax reforms, low-interest rates, and spending controls could pave the path.

2. INVESTMENT: Infrastructure and education aren't just words; they're the bedrock of any thriving nation. A solid plan here could be the game-changer.

3. BUSINESS ECOSYSTEM: Let's create an oasis for businesses. From slashing red tape to refining the regulatory jungle, a more accessible environment can fuel economic dynamism.

4. EXPORT-IMPORT DYNAMICS: Encouraging exports and limiting non-essential imports might sound traditional, but they've been tried, tested, and proven.

5. RESERVE BUILDING: It's simple - more exports, sensible foreign investments, and strategic borrowings.



CHALLENGES AND RISKS ASSOCIATED WITH THE PLAN:

A. ECONOMIC INSTABILITY: The Nigerian economy is currently facing a number of challenges, including high inflation, unemployment, and foreign exchange shortages. These challenges could make it difficult to achieve the ambitious goal of making 100.00 NGN equal to $1.00 USD in 48 months.

B. POLITICAL UNCERTAINTY: Nigeria is a politically complex country with a history of instability. This political uncertainty could discourage foreign investment and make it difficult to implement economic reforms.

C. CORRUPTION: Corruption is a major problem in Nigeria. It can lead to inefficient use of resources and undermine economic growth.

D. INFRASTRUCTURE DEFICIT: Nigeria has a significant infrastructure deficit, which can make it difficult to attract foreign investment and boost economic growth.


HOW THE GOVERNMENT COULD INVOLVE THE PRIVATE SECTOR AND THE GENERAL PUBLIC IN ACHIEVING THE GOAL OF MAKING THE NAIRA A STRONGER CURRENCY:

1. The government could create an enabling environment for businesses to thrive. This may include reducing bureaucracy, improving the regulatory framework, and providing access to finance.

2. The government could provide incentives to businesses that export goods and services. This could help to increase the supply of foreign currency and boost the value of the naira.

3. The government could educate the general public about the importance of saving in the local currency. This could help to reduce the demand for foreign currency and support the value of the naira.

4. The government could encourage the general public to buy Nigerian-made products. This could help to reduce the demand for imports and boost the value of the naira.


In addition to the above, the government could also involve the private sector and the general public in the following ways:

1. Create a public-private sector partnership to promote economic growth and development.

2. Establish a national economic council to advise the government on economic policy.

3. Organize regular consultations with stakeholders from the private sector and the general public to get their input on economic policy.

4. Use social media to communicate with the public about economic issues and to gather feedback.

5. By involving the private sector and the general public in the effort to make the naira a stronger currency, the government can increase the chances of success.

In conclusion, achieving parity between the Naira and the Dollar within 48 months might sound like an economic fairy tale. But behind this dream lies a roadmap crafted with precision, ambition, and a touch of audacity. Nigeria stands on the brink of an exciting economic era, and with collaborative efforts, the Naira's rise is not just possible; it's inevitable.

Thank you.

Aderogba Otunla

Sauce: LINKEDIN

I am a layman but where are the Made in Nigeria goods to buy? Let's look at the textile industry,it used to be the largest employer of labour in Nigeria but not a single factory exist in Nigeria again. Cotton farmers were fully engaged providing the raw materials for production.

We are now dependent on textile importation. Do our farmers have what it takes to compete with Vietnamese or Chinese farmers? What do we have to attract the Pakistani,Indians and korean investors back,when fuel and electric subsidy is like no more. It is this same problem in Tobacco/cigarette production.

The effects of introduction of SAP is what we are still contending with after 38 years. I am a business owner and sometimes textbooks is not where to get the solution

You dey owe korofo!

MP go separate fight tire for mammy market

CyrusVI:
Trust me, even till now, our educational quality is still top-level

I no know which school una go o but i know mine

Nigerian graduates still gets foreign scholarships,international jobs and awards. Are their tutors from Mars? Just dey look them

Appreciating a country that gave them life.With my full chest those Asians used Nigerian passport to obtained American Visa

Asians now naturalized that benefitted from Nigeria's free education

Like he knew he would be frustrated,someone here on Nairaland was advising him to leave Napoli when the ovation was at the loudest and move to Saudi. He is finally moving,though it's still huge but not as much as what he was valued then

Why play play when serious with your intention

What is your benefit now,after you have escaped and moved to where nepotism won't deny you what you merit.