CFCfan:

True. The ones that carry cash on their travels aren't factored in that figure I quoted. If those ones are factored in, the figure may rise to around $20 billion per year.That means remittances from Nigerians in the diaspora constitute 10% of Naija's GDP.

That's the remittances alone.. What about the businesses they bring to Nigeria??

Nigerians are basically the ones running the economy - the government is just there to take the FOREX and loot the damn thing!!

manny4life:

Well good luck to you... I'm going home this year, to start laying foundation for my final moving back to Nigeria. I'm tired of this silly country called U.S.,

Can you imagine, gas is now $4/gallon, it cost me $72 to fill my tank today, I was swearing for OPEC countries today

Please oh, don't swear for Nigeria.
Same case here in California, the price of gas in my area is around $4.05.

shymexx:

That's the remittances alone.. What about the businesses they bring to Nigeria??

Nigerians are basically the ones running the economy - the government is just there to take the FOREX and loot the damn thing!!

That should be the case though. The govt should have a limited participation in the economy, private citizens should always drive the economy.
In this case, citizens residing in Nigeria.

all4naija: What are Nigerian youths doing to save the country from these leaders destroying its future?

Nothing... Revolution is NEEDED ASAP.

manny4life:
Well good luck to you... I'm going home this year, to start laying foundation for my final moving back to Nigeria. I'm tired of this silly country called U.S.,

Can you imagine, gas is now $4/gallon, it cost me $72 to fill my tank today, I was swearing for OPEC countries today

Bro, I wish you good luck...

Africa is the place to be but it's definitely not Nigeria... Too many people are scheming for few opportunities and you have to be criminally minded to excel there according to the dynamics of my personal research...

For Nigeria to join the top 20 economies of the world, the GDP has to increase to around $800 billion. That would require power generation and distribution to be at around 80,000MW. An increase in GDP will guarantee more tax revenues for the govts, who would hopefully invest such monies in overhauling our infrastructure.

CFCfan:

That should be the case though. The govt should have a limited participation in the economy, private citizens should always drive the economy.
In this case, citizens residing in Nigeria.

However, it's the responsibility of the government to provide the infrastructures and conducive environment for people to thrive... And that's something the Nigerian government isn't doing... All the monies they're looting and stacking abroad are also contributing to a next country's economy - we need all that money in Nigeria....

shymexx:

Bro, I wish you good luck...

Africa is the place to be but it's definitely not Nigeria... Too many people are scheming for few opportunities and you have to be criminally minded to excel there according to the dynamics of my personal research...

Hehe, I'm not going there to fight opportunities but creating one.. I hope not to be criminally minded, but if I have to be business savvy like Dangote (you get the idea), eh why won't I?

manny4life:

Hehe, I'm not going there to fight opportunities but creating one.. I hope not to be criminally minded, but if I have to be business savvy like Dangote (you get the idea), eh why won't I?

Add Innocent Chukwuma, Mike Adenuga and Mrs Alakija(richest black woman in the world) to your list.

CFCfan: For Nigeria to join the top 20 economies of the world, the GDP has to increase to around $800 billion. That would require power generation and distribution to be at around 80,000MW. An increase in GDP will guarantee more tax revenues for the govts, who would hopefully invest such monies in overhauling our infrastructure.

If you ask me, I think our GDP is not capturing ALL the activities in Nigeria. There's so much unregistered businesses like Okada, bus driver, people in transportation et al who aren't captured in the system.

shymexx:

However, it's the responsibility of the government to provide the infrastructures and conducive environment for people to thrive... And that's something the Nigerian government isn't doing... All the monies they're looting and stacking abroad are also contributing to a next country's economy - we need all that money in Nigeria....

You are absolutely spot on! That's why I sometimes doubt the sincerity of European and American govt officials to the fight against official corruption amongst Nigerian officials. The looted monies definitely benefit Western economies.

manny4life:

Hehe, I'm not going there to fight opportunities but creating one.. I hope not to be criminally minded, but if I have to be business savvy like Dangote (you get the idea), eh why won't I?

Being business savvy is one thing - however, being able to operate in an environment that's a little bit haphazard where everyone is trying to make it at once is another thing... Yes, Nigeria has the population but being able to relate to them and trust the people is a different case entirely... Everyone is hungry, bruv - don't become their next meal ticket...

manny4life:

Nothing... Revolution is NEEDED ASAP.

Should we now continue to blame the leaders for playing on the youths weaknesses?

There is need for revolution to save the country from these thieves in power.

CFCfan:

Add Innocent Chukwuma, Mike Adenuga and Mrs Alakija(richest black woman in the world) to your list.

GBAM.

I will be another template of success...

Shymexx, go and mark this day, one day you'll finally see me in news and you'll be like, damn, is that Manny?

manny4life:

If you ask me, I think our GDP is not capturing ALL the activities in Nigeria. There's so much unregistered businesses like Okada, bus driver, people in transportation et al who aren't captured in the system.

True. If u add up the value of the informal economy, Nigeria's GDP might hit $500 billion.
I read a report the other day, which stated that Nigeria's official GDP is being projected to $600 billion by 2016.

CFCfan:

You are absolutely spot on! That's why I sometimes doubt the sincerity of European and American govt officials to the fight against official corruption amongst Nigerian officials. The looted monies definitely benefit Western economies.

That's why western countries will never return looted funds because most of them depend on their banking system for survival... UK for example depends on its banking system - and the banks use this money to finance all the other atrocities they commit around the world... HSBC, Llyods Tsb etc. are culpable... All the crap they spew in the media is just eye-service - they encourage the looting through the back channel...

shymexx:

Being business savvy is one thing - however, being able to operate in an environment that's a little bit haphazard where everyone is trying to make it at once is another thing... Yes, Nigeria has the population but being able to relate to them and trust the people is a different case entirely... Everyone is hungry, bruv - don't become their next meal ticket...

Believe me, that I've lived in America sure don't make me stupid, I was telling my sis three days ago, if I land in Nigeria, I can jump the bus, disguise quickly, change my voice, accent, carry beards and you will hardly believe I came in from the U.S., if I got to be rough, a brother got to be rough. I'm nice but sure ain't stupidd...

all4naija: Should we now continue to blame the leaders for playing on the youths weaknesses?

There is need for revolution to save the country from these thieves in power.

Who will start it isn't the issue, who will join or be part of it is the real question.

manny4life:

GBAM.

I will be another template of success...

Shymexx, go and mark this day, one day you'll finally see me in news and you'll be like, damn, is that Manny?

Wow! That is good to know. Interest to know you are very confident about your believes. I like that. One thing, try to make an impact on the youths attitude toward the country and the corrupt leaders. Another thing, teach them how to fight for their rights!

shymexx:

That's why western countries will never return looted funds because most of them depend on their banking system for survival... UK for example depends on its banking system - and the banks use this money to finance all the other atrocities they commit around the world... HSBC, Llyods Tsb etc. are culpable... All the crap they spew in the media is just eye-service - they encourage the looting through the back channel...

I know, right. That's why I no longer listen to any American politician that tries to be all preachy about Nigerian corruption.
The corruption that goes on in Wall Street alone, will make Nigerian politicians look like learners.
*I'm not encouraging them though*

manny4life:

GBAM.

I will be another template of success...

Shymexx, go and mark this day, one day you'll finally see me in news and you'll be like, damn, is that Manny?

I'll be in the news as well!!!

manny4life:

Believe me, that I've lived in America sure don't make me stupid, I was telling my sis three days ago, if I land in Nigeria, I can jump the bus, disguise quickly, change my voice, accent, carry beards and you will hardly believe I came in from the U.S., if I got to be rough, a brother got to be rough. I'm nice but sure ain't stupidd...

I wish you all the best, bruv..

Just thread carefully...

shymexx:

I'll be in the news as well!!!

Amen. Me too.

all4naija: Wow! That is good to know. Interest to know you are very confident about your believes. I like that. One thing, try to make an impact on the youths attitude toward the country and the corrupt leaders. Another thing, teach them how to fight for their rights!

Bros, I'm more confident in myself but I don't let overconfidence ruin me... I know that line. The youths are the leaders and if they don't know that, they can't make an impact. However, making impact is the first targeted point.

CFCfan:

I know, right. That's why I no longer listen to any American politician that tries to be all preachy about Nigerian corruption.
The corruption that goes on in Wall Street alone, will make Nigerian politicians look like learners.
*I'm not encouraging them though*

That's the truth, brother... They're involved in all the looting in Africa, everything just happens through a 3rd party... If not, how come they always know whose accounts to place an embargo/freeze on all the time?? They know what's going on and their economies need the loot as well...

That's why you'll see an unrepentant looter like the late Omar Bongo wining and dining with French and American presidents smfdh...

all4naija: @ manny4life

I can see you have a lot to do in saving that country. I wish the countries have large number of people like you. Things would gradually come to points where right actions affect change.

I really like your confidence. I am kinda jealous!

Thank you...

Saving Nigeria might be the next thing that happens in the dark history of Nigeria.

Sir Carner A Aseyai will not relent from improving the shrink back Nigerian's. could you observes. the ideas of Nigerian foreign reserve "$47bn" I know if it were possible some would like the said amount to be given out individual. And this money is for a purpose. Think talk Nigerian's Think Criticise Nigeria. Was it not from the same president Dr Goodluck Jonathan Transformation.

Am leaving my mark on your thread.

SniperInADiaper: Am leaving my mark on your thread.

Haha. I need a substantive comment from you.

I hope our foreign reserve is not backup with paper currency, it should be deposited on gold because that is where the real deal is/true value.