₦airaland Forum

Makydebbie1:
We Ghanaians know ourselves better,
I will not advice any Nigerian guy to marry a Ghanaian woman

Why ?

KevinDein:
You go girl. Never reduce your standards no matter what. You deserve a tall, fair and handsome man just because you are a woman. Don't let anyone tell you otherwise.

I love your sarcasm

urahara:
Still I don't see any reason why fuel subsidy should be removed ?

I take this comment back.

VoodooDoll:
Capital expenditure normally refers to creating, constructing, improving or transforming an asset, infrastructure or buildings.

Recurrent expenditure typically refers to payment of overheads, salaries, miscellaneous expenses, travelling, entertainment, food.

Capital expenditure should see assets being constructed which have a medium term life time.

Recurrent expenditure happens every year and normally refers to and for payments to civil servants, politicians and their aides. 

When recurrent expenditure is too high then it means civil servants and politicians may have a lot of money to spend.  With a lot of money to spend politicians can outspend anybody.  By outspending anybody politicians push up the price of goods and services.  Higher prices leads to inflation.

Spending on recurrent expenditure without any limits ends up in the debt burden increasing as human want is unlimited. This human want will outspend GDP and lead to the country borrowing.

Oh my good God !!!

I thought recurrent expenditure included fixing of roads .

9jaRealist:
Because investors will not build refineries locally if they are forced to sell their products below market price (at the government-decreed N145 price). That’s why (as I previously noted) the Dangote Group insisted on market-determined pricing for its products.
>

But if they are forced to sell their products below market price , won't the government then pay them subsidy which is the difference between the actual price and the govt decreed price?

9jaRealist:
Get rid of the dubious “subsidy” and deregulate the sector...
That should attract investment, create competition and jobs in Nigeria, and have us exporting products rather than crude.
>

How does fuel subsidy deter investment ?

grandstar:
Okay. Point clear.

At the end of the day, it is revenue that carries the day because that is what the government actually has.

Still I don't see any reason why fuel subsidy should be removed ?

grandstar:
its 70%

https://www.cfr.org/blog/debt-servicing-tax-revenue-and-oil-nigeria

Yes but that's for debt servicing to oil revenue , not for debt servicing to the budget itself.the budget is higher than oil revenue .

grandstar:
When you realise that over 50% of the budget is used to service debt, then it is a lot.

No , it's actually about 24 percent.

urahara:
I just checked , it's about 69 percent of the budget

Grandstar how did we ever get to this stage

grandstar:
When you realise that over 50% of the budget is used to service debt, then it is a lot.

I just checked , it's about 69 percent of the budget

grandstar:
Probably around N500Billion

This doesn't seem that much when compared with a budget of 9 trillion naira. Merely 5.55 percent.

grandstar:
Probably around N500Billion

This doesn't seem that muchm

grandstar:
The subsidy should simply be removed and then deregulate the price. After that, if they like, let them smuggle it across the border, nothing spoil.

How much do you think Nigeria spends on subsidy every year ?

maximusprime2000:
are you for real?

After physical attraction then comes " inner beauty ".

philsbaba:
so this is all you have to offer This is all you have to offer for all that great characteristics you mentioned in that post..... Sorry oo, but the type of man you want would never want you

Alas men will first check beauty first before looking for " inner beauty " .

yettymuse:
If you raise a standard, then be sure you match same standard. You want a man with a car, good apartment, gainfully employed etc.... Do you have a car? Do you pay your own bills? Do you have an apartment to yourself??

The pu..s!y market is saturated now and only good pssies with good head gets a great spoil!

....start by upgrading yourself with your own money....(it’s a lot of work trying to upgrade with a man’s money)... I’m not talking Instagram-kinda upgrade... then every other thang will fall into place!

Men don't look at whether you have car, apartment and shit like that.

Its face and body.

grandstar:
The economic growth rate has been a disgrace since Bubu came into power. The World Bank's recent article on Nigeria's economy was unflattering. The country's economy is heading for the abyss.

What is in the abyss may never be headed for the abyss .

grandstar:
This speech should be directed at Buhari alone. Remove him today and replace him with Osibanjo and things will improve economically.

Buhari lacks the intellectual capacity. His limited education is decimating the economy

I heard that one time buhari and left Osibanjo in charge , there was a turnaround in Nigerias economy.

grandstar:
The prime reason why Nigeria imports many types of food is because of the it lacks comparative advantage in them. It's simply cheaper importing than making them ourselves, rice in particular.

The prime reason Nigeria imports many types of food is because our agricultural infrastructure is weak.

Ishilove:
Kai, guy you must really like this GoT of a series o. See as you're patiently advocating.

Hokay, I will start with season 1 let me see what all the hype is about

By Season 2 you will surely testify that there is no other show like Game of thrones.

The greatest series ever made since the television was invented.

Ishilove:
Ewww

My sister we were all disappointed.

Season 4 is very boring and it's because Aaron Mcgruder the creator of boondocks had nothing to do with it.

Ishilove:
Why?

It sucks donkey balls.

Ishilove:
Where can i get season 4?

Pls I beg you , don't watch season 4.

KoiceReloaded:
You're kidding, right?!?

She's still stuck in the dark ages.

grandstar:
Buhari phenomenal incompetence should leave anyone worried.

His whack knowledge of economics and his refusal to lean on those brighter than him for the way forward has not only damaged the economy but exacerbating the decay..

The $29b loan is completely uncalled for, most especially as he has proven to be a very poor manager of resources with dismal results.

You mentioned his refusal to end petroleum subsidies and deregulate the oil price. It will surprise you that one of the foundations of the debt crisis that affected many Third World in the 80s was caused by countries borrowing money to subsidize the price of oil during the oil spikes in the 1970s and very early 80s. The were cushioning their citizens from the price increases. When it was time to pay back these loans, they proved unable to.

Buhari has refused to prune the size of the civil service and now burdened by the ungrateful civil servants who wish to earn 30k minimum for doing half-hearted work.

He refused to privatize the refineries and Ajaokuta and instead threw money at them in the vain hope they'll be working again.

His economic sins are too much already and the consequence is lamentable growth rate not even meeting the population growth rate of the country.

This sins you listed were committed by not only buhari but also his predecessors.

grandstar:
she was already pretty butt that no do! I'm boiling here.

Lol , nice pun.

omohayek:
I'd start by asking whether the quotes attributed to Sanusi are even correct: heaven knows Nigerian journalists aren't exactly famous for their integrity and accuracy. Then, assuming Sanusi has indeed been quoted correctly, there is also the question of to what degree he's speaking from conviction, and to what extent he's choosing his words with some audience in view whose favor he wishes to cultivate: given Sanusi's difficulties with his state governor, it wouldn't be surprising if he decided getting into Buhari's good books might worth doing by saying something supportive, regardless of any doubts he might privately entertain (it's not as if Buhari would take any contrary advice Sanusi offered anyway).

All of the standard arguments against protectionism would remain completely valid even if Sanusi, Soludo and every other Nigerian economist came out and started jointly championing it tomorrow: ultimately economic arguments should be judged on their own merits, not based on the level of fame or influence of those who make the arguments, and there are simply no new arguments for protectionism in the economic literature that are worth taking seriously. Indeed, even if there were, Nigeria's own many failed experiences with arbitrary border closures and import bans over the last 50 years should be all the evidence one needs to accept that such measures would never work here, no matter the theoretical justifications that might be made for them. All protectionism has ever achieved in Nigeria - and all it will ever achieve in the future - is the enrichment of a coddled few through reduced competition and new opportunities for corruption, at the expense of reduced living standards for the vast majority.

Thanks a lot.

I have also been meaning to ask ?

Why can't Nigeria compete in textiles with even ordinary Bangladesh ?

And also despite the fact that wages in China have gone up , Chinese textiles are still cheaper than those made in Nigeria ?

Why can't Nigeria seem to compete with other third world countries in textile production without the use of import bans ?

grandstar:
That's actually not true. it's an insult to Trump

Trump protectionist action is based on his ideal what fair trade should be. He believes America is being cheated and taken advantage of by it's big trading partner to the detriment of Americans.

Buhari on the other hand simply believes Nigeria should have no.business importing what the country can make. He's an advocate for self sufficiency

Lord knows rice is never going to be cheap again.

grandstar:
It is but it may not include iPhone production due to not finding sufficient numbers of workers with the attitude of those in China. Learnt those IPhone plants are not for the soft hearted. It is gruesome work.

Even if it produces iPhones, it will be a fraction of what was initially planned. Foxconn only wanted to set up a plant to please Trump.

Trump is the American version of Buhari.

grandstar:
Yes, it should be the richest part of black Africa.
with South Africa, Namibia, Botswana and Angola there.

The Maghreb, North Africa is the richest bit.

However, the most vibrant parts of Africa are in black Africa.

That being said, Morocco, has the potential of becoming a rich country one day. Car manufacturers have even set up.plants there to make cars destined for the EU.

Alas assembling prowess is an unreliable measure of whether a country gets rich or not. Just look at Mexico and Thailand.

grandstar:
Botswana which is next door to South Africa has shifted from being the 3rd poorest country in the world and with only 12 km of road at independence to become a country even richer than South Africa today. It is also the least corrupt country in Africa. It was blacks that achieved that and not whites. Stop tearing down fellow blacks.

Southern Africa is the richest part of Africa.