Stats: 3,192,265 members, 7,947,288 topics. Date: Thursday, 12 September 2024 at 04:08 PM |
Nairaland Forum / Nairaland / General / Politics / Economic Blackmail By Foreigners And Their Protegees (15722 Views)
Iara Oshiomhole Gets Nigerian Citizenship Alongside 334 Other Foreigners / Foreigners Come For A Nigerian Who Claimed Chibok Girls Kidnap Is A Scam / How Safe Is Nigeria For Foreigners And Expatriates (2) (3) (4)
(1) (2) (3) (4) (5) (Reply) (Go Down)
Re: Economic Blackmail By Foreigners And Their Protegees by onoja12: 12:58pm On Mar 29, 2016 |
beautiful write up,in fact you hit the nail right on the head nobaga: |
Re: Economic Blackmail By Foreigners And Their Protegees by skj1377(m): 12:59pm On Mar 29, 2016 |
well thought out. nobaga: |
Re: Economic Blackmail By Foreigners And Their Protegees by grandstar(m): 1:22pm On Mar 29, 2016 |
This article was written by an first class economic illiterate. This is utter nonsense. No one siad anything about opening up the foriegn reserves. All that was requested was that the naira be allowed to float and touch its real value. How that interprets as opening up the reserves to be squandered beats my imagination. If the naira was allowed to flaot, the very exact opposite would happned. More dollars will flow in to the reserves than leave it. Soludo, Sanusi and Utomi have all condemned Buhari's forex restrictions. Sanusi famously said they have worked nowhere in the world. Utomi jokingly said that Nigerians may soon start queuing for basic commodities. The fuel scarcity should be laid at Buharis door. Kachickwu said a full scale deregulation of the petroleum supply is the answer. Buhari rejected and today we are paying the price. The man was right. Diesel whuich price has been deregulated is free of this scarcity that is biting hard. Anyway, it may soon be included if the artificial scarcity of forex continues whic h was engineered by Buhari is left in place as there wont be forex to import diesel. 3 Likes |
Re: Economic Blackmail By Foreigners And Their Protegees by 2sexycom(m): 1:50pm On Mar 29, 2016 |
Jeffoo:If I was a top leader of this country, foreigners go hear hell. |
Re: Economic Blackmail By Foreigners And Their Protegees by sauskyjoe(m): 3:00pm On Mar 29, 2016 |
Devaluation is not the way forward, it would only add to our problems in the long run. Our manufacturing industries need to come alive once more. These whites don't have the interest of Africans at heart. Africa can only be saved by Africans. |
Re: Economic Blackmail By Foreigners And Their Protegees by tsmack: 3:27pm On Mar 29, 2016 |
This is exactly why they say half knowledge is bad. Thanks Grandstar for your comments. The author definitly needs to do a lot more studying. Allow me use the most simple of all the issues - i.e. Gas flaring. The Nigerian government wants Oil Producing Companies (OPCs) to stop flaring gases and to redirect the gas to more useful purposes. They then implemented a law that penalises any OPC who continues to flare gas. While the idea is generally a fantastic one, "in my opinion", it is tantamount to telling the owners of MrBiggs franchise to start recycling their waste simply because they generate so much waste. Waste recycling is a totally different type of business! (a) In the same vein, Gas flaring is different type of business model with its own perculiarityies and value chain. It will therefore not be easy for an OPC to delve into it just because a government instructs them to. Especially when our government have been known to be very unstable when it comes to implementing policies that encourage such ventures. (b) Also, it is an established fact that the equipments needed to redirect and convert the flared gases costs a fortune. Any business man will compare whether it pays to continue paying fines or invest in a white elephant project. Your guess is as good as mine The question is now why you think the OPCs gas flaring is an attempt to sabotage the Nigerian economy? Wierd!!! It would have made more sense if you suggested more ways the Federal Government can encourage more investors (Nigerians or otherwise) to invest in the Gas industry (anywhere on the value chain will do). 1 Like |
Re: Economic Blackmail By Foreigners And Their Protegees by Nobody: 4:38pm On Mar 29, 2016 |
Typical African mentality... expecting hands out from foreigners. Foreign companies are here to do business for profit, it is not their responsibilty to carry your mess. We put ourselves in this situation by stealing all the profit we made for the past 50 years exporting oil and not diversifying our economy... now we are crying like babies trying to shift blame. I am Nigerian and I love my country but I would rather invest my cash where it is safe so i can feed my children tomorrow. No foreign company will plan long term in a country that changes policies overnight, a country that is not investing in its own infrastructure and or in its people... You can cry all you want... In the end, when we are ready to do real business... the world will see the opportunity we present and they will invest heavily... For now, keep begging and crying to the world instead of taking serious steps and towards building a proper economy. look at china, look at dubai... do you see them begging foreign investors? they create the environment and opportunity that you cannot refuse. Animals.. 4 Likes |
Re: Economic Blackmail By Foreigners And Their Protegees by jara: 5:39pm On Mar 29, 2016 |
If anyone wonders why Nigeria is where it is today look no further than these two gentlemen that typicalize selfishness and intentional demagogues that blame victims of crimes against inhumanity. The best place to start with both is this statement: No one siad anything about opening up the foriegn reserves.With that, one realize who they are and should not bother to reply them. But for the benefit of those that care enough for our generation and the next, they cannot go unanswered. One of them is supposed to be first class economist because he called the writer of this article "first class economic illiterate" Yet both of these guys want foreign solution to a local endemic problem as one of the comments rightly pointed out. The writer was even more concerned about foreign trained and employed than the real foreigners themselves. (Actually this is not a new writer, he is also foreign trained) Take the statement made by the Director of Mobil that Dangote interest to build refinery in Nigeria does not align with the shareholder of Mobil. Basically these two are saying the same thing. Just imagine if the Director is a Chinese Mobil director in China! Sometimes limited exposure or too much of it to the outside world, especially the western world can be a double edge sword. After all the regulations and laws about gas flaring, I cannot believe that an African born by two Nigerian parents, if I may guess, faulted all the good intentions (laws) of other Africans and Nigerians before him. Just to support the oil companies. Where else do they get away with such murder except in developing countries? Even oil spills, oil companies are paying heavily for them in USA and other western countries. We are talking about gas flaring killing people and wasting precious energy, yet this guys could not see the economic advantage (even if they are selfish) and the disastrous effect on human and their environment. They both claim that it is not the business of foreign companies to clean up their mess. Do they know that even here in Nigeria, especially in most of the capital cities, private companies are legally bound to clean their mess? As for recycling, Nigeria is doing it right now on a limited basis. The sorry part of it are poor children living on environmental dumps across Nigeria picking dangerous materials to sell for recycling. Is this what they should be doing or which companies do you think is buying all these from them? Today in most of the western world and even in the eastern world, cleaning and recycling is part and parcel of the cost of doing business. The world is changing to clean energy at considerable cost today but cheaper and better day by day. The same laws and regulation Nigeria has been trying to enforce for so many years are the law of the land where these companies come from. With economic gurus like these two, Nigeria does not need enemies. We already have them implanted as directors of foreign companies and these two gentlemen. 98. grandstar(m): Quote Post 101. tsmack: Quote Post |
Re: Economic Blackmail By Foreigners And Their Protegees by Nobody: 7:14pm On Mar 29, 2016 |
The discussion is no longer laying off workers and economic sabotage by foreign companies... it is now oil spillage and environmental disasters? While it is completely irrelevant that a company spilling oil is not building a refinery... I will still try my best to remark as gracefully as possible. Oil spillage is a crime that should be checked by the local authorities.. the foreign companies will not arrest themselves for their crimes, so if anyone is to blame... look inwards. secondly, building a refinery is a business decision not by force. compettition and opportunity drives investments... If Mobil does not see a reason to build a refinery... does that make them evil? its like asking emirates to fly to enugu... if they think they will make profit serving that route then the market will compel them in that direction. You cannot fight them for not flying to your city. So if Dangotes business model compels him to build a refinery and Mobil does not see the reason. let the market decide who wins in the end... investment is not by force. Again, it comes back to my problem with african ideology..we go into business with our hands stretched out expecting people to do favours instead of planning and being realistic. You may fault the two gentlemen above... but in the end, it is you who needs to be prepared for the realities of the global economy. It is shark eats shark... you will grow grey hair waiting for foreign companies to help you. Grow your economy yourself and they will compete for better market shares which will automatocally translate to more robust investments. Whos educating our people? 2 Likes 1 Share |
Re: Economic Blackmail By Foreigners And Their Protegees by Nobody: 7:22pm On Mar 29, 2016 |
Let me also add that devaluation is a business decision not a favour to foreign companies. If the Nigerian state is adamant on keeping its currency at 198.. that is its problem... Companies also have responsibilities to their shareholders... they are not state owned. if they buy raw materials at black market rates... So they should sell their products at CBN rates? who covers their exchange rate loss? when they threaten to lay off workers it is not to spite you or blackmail anybody... it is because they are loosing money. Your nationalistic pride does not print money. real business decisions is what keeps a company afloat... or not 3 Likes |
Re: Economic Blackmail By Foreigners And Their Protegees by jara: 9:46pm On Mar 29, 2016 |
Let me make it clear that you are right about business decisions made in the interest of foreign companies. I even like your example of buying at BDC and pricing to reflect their higher cost. But please realize what privilege is and negotiation between two unequal partners where one use superior and undue advantage to negotiate with the other. At least the law understand this in their countries: Covenant of Good Faith and Fair Dealings. To buttress your point further, those that sponsored explorers into Africa expect returns on their money. So are adventurers looking for treasures in the deep sea. But remember during the gold rush in California, regulations and laws came into place. Fast forward to today, we no longer tolerate child labor, we made law for 40 hours, sick pay and women's maternity pay in western countries except USA. Why all these? Profit alone does not justify the exploitation of the natives. We have not move away from the topic, we are talking about motives and limitation on business decisions as it affects human beings. Laying off workers and economic sabotage are business decision that can also be of short term advantage. In the short-term, share holders win, in the long term the companies die! The real problems with Africans today are not foreigners but African cronies! Let us take UAC for example. This is a company that has survived many others mainly because they Africanized into local markets. The reason Cocoa Cooperative Board succeeded was because farmers got a good deal and they saw what the taxes on them paid for i.e schools of their children. If I can borrow your example of companies paying more for dollars that would justify higher prices. If many of their clients cannot afford their products, they will sell less. If they are not selling, they will lay off people. That is devaluation for you. But if they have good products and people still buy from them in spite of higher prices, those who buy have to look for ways to earn more money to buy their products. They will demand higher wages leading to inflation. Business decision is no longer made in isolation, indeed it has never been. Unless you think the most qualified people get the jobs. Those who got the jobs make decisions in their interest also to favor and preserve their legacy. I respectfully disagree with you that gold, diamond and oil cannot be refined in Africa and that it is business decision to refine them outside of Africa. Common now, who is fooling who? If buying cheap and selling high in Africa is solely a business decision you have to understand why our great grandfather sold gold and slaves in exchange for mirrors. It is no longer done outside Africa after French revolution, it is no longer done after Russian revolution and no longer done by the Chinese. Haba my buroda, have pity on Africans. Preach for internal trade, made in Nigeria, West African and African Economic Block. Right now we trade more with Europe or America than we do within Africa. We love to consume ready-made, even if it is used but never appreciate anything we make. If you want lace material to sell, take it to Cotonou and label it made "anywhere but Nigeria", and re import them; they will sell fast. Ask Aba shoe makers. I do not want foreigners' hand out, favors or money. Their foreign cronies will face strict punishment in China, Russia or even America for aiding and abetting saboteurs. Let me close by reminding you about Structural Adjustment forced on African countries by World Bank and IMF which they later apologized for. Were they really sorry to impoverish our fathers, brothers and sisters that are a little or more older than us? Ask them, they could never afford to buy a car or a house again. All their savings turned into water. What is the difference now? We just don't learn! naijaFrank: |
Re: Economic Blackmail By Foreigners And Their Protegees by Nobody: 11:58pm On Mar 29, 2016 |
If we give them superior advantage on our land... It is our fault. If we do not have labour laws that protects our workers...it is oyr fault inflation is inevitable in todays economy... every smart man knows that... we dont have enough dollars to back up our non devaluation stance. The real economy is at 320 What we needed was not to protect the naira... it was to save the economy by creating market promoting policies that would attract more USD via other non oil sources rather than trying to use austerity measures. I never said oil and raw materials cannot be refined here. I said we cannot force businesses to enter busineses they are not interested in... We must create the environment that will make it suicidal not to... enabling the market and promoting compettition through policies, access to credit and favourable local content laws. Finally, I agree that we should consume local products, that internal trade between african countries are a disgrace and must be improved. I agree that foreign companies may take.certain advantages...but who wouldnt given the free hand we let them have. The difference is i dont agree with playing the Victim. I expect real market oriented policies that will grow us rather than crying when we are the ones opening our yansh for a gang rape. |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 9:30am On Mar 30, 2016 |
sauskyjoe: And they(Africans) are doing it well by looting. sorry a blind man cannot lead a blind man . |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 9:38am On Mar 30, 2016 |
2sexycom: Your ingnorance will not allow you to get their.can you count the number of foreign owned firms and brands in Nigeria to the no of local brands. can we exist without those tax base from foriegn owned firms.the pz,Nestle,P&G,Unliver, Coca cola, e.t.c or is it the oil sector were we didn't have knoweledge of the existence of oil till they came and showed us. |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 9:47am On Mar 30, 2016 |
nobaga: I could not complete reading this trash. low IQ every where |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 9:59am On Mar 30, 2016 |
Ioannes: Your IQ is lower than i taught. we had Ajeokuta steel. it was destroyed by corruption,NNPC in so much debt inspite of billions earned in oilboom($100) oil price. we borrow loans to finance projects that are ment to be self sustaining.but it ends up in a man's pocket,we built oil refineries 4 and none is working at at least 40% operating capacity. becos of corruption and sabotage,we have over sized government ,House of assembly,minsters and so on,we import virtually everything yet we have Governors who cannot diversify their state economy despite their states having massive mineral resources and Nigeria having to import things. and you are here cliaming it is the west. if the west want Nigeria to be poor. they could not have allowed Dangote to build oil refineries,steel plants and other investments. aleast him as an individual it will be easier to sabotage him than Nigeria a country. 2 Likes |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 10:08am On Mar 30, 2016 |
hopilo: Funny. the same US that invested billions in Cross rivers state through GE. and P&G that invested in Ogun state. typical blackman blaming others for his failure. All the loot of past and present government can change the fortunes of Africa. are the west also responsible for our leaders looting. US policy is about protecting their investments and intrest in Nigeria. not that they are asking our leaders not to create jobs,building roads,hospitals, or to loot their countries. we had the same money from oil that malyasia,UAE,Qatar,Kuwait,Norway made from oil. what did we do with it? |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 10:21am On Mar 30, 2016 |
tsmack: Guy round of applause for you. when people punch above their weight the result is this trash by the OP.how can i produce ice cream and same time be the only consumer. this gas is very expensive to control and manage. ones their is market industrial, residential this companies with not even been asked they will willingly invest inorder to seller rather than flare. our greatest problem in Nigeria is Low IQ and people who can intiate ideas and take risks. they are soo.....few. 1 Like |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 10:28am On Mar 30, 2016 |
Ademat7: Exportation requires high IQ.and creativity .which we lack. look at japan |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 10:38am On Mar 30, 2016 |
JSayin: stupid wrireup. the mutinational are the best payers and their welfare is far better than that of the indigenous companies. from experience most of the problems we have in companies are by our on black brothers in mangerial positions. they can owe you for months even when the oyibo has released the money. am not exonorating the whites .but issues of not paying tax,fines are becos of our own corruption or collobration with them.imagine the Halliburton scandal was even discovered and reported by US SEC. something that happened here in Nigeria 1 Like |
Re: Economic Blackmail By Foreigners And Their Protegees by jara: 12:17pm On Mar 30, 2016 |
We certainly have Judas among us willing to sell Nigeria for a piece of silver. Cronies are more of our problems than their foreign bush rats encouraged into our house. A house divided against itself cannot stand. The same people that sabotaged Nkrumah, Lumumba, Nyerere and Awo. Keep on dancing shoki while Africa burns. |
Re: Economic Blackmail By Foreigners And Their Protegees by AfroBlue(m): 12:51pm On Mar 30, 2016 |
great article! front page material for most NL members to read and digest! don't fall for 21th century economic colonialism! |
Re: Economic Blackmail By Foreigners And Their Protegees by JSayin(f): 1:02pm On Mar 30, 2016 |
blueAgent: If you cannot express your opinion without using a combination of verbal abuse ['stupid'] and a whopping total of 6 grammatical bombs ['wrireup = write up', 'mutinational = multinational', 'mangerial= managerial', 'am=I am', 'exonorating=exonerating', 'becos=because'], then I rightfully beg to differ with your uneducated opinion. |
Re: Economic Blackmail By Foreigners And Their Protegees by sauskyjoe(m): 1:55pm On Mar 30, 2016 |
blueAgent: Not all Africans are after looting our treasury. We just need d right people that will render selfless service. Africa will rise again. |
Re: Economic Blackmail By Foreigners And Their Protegees by 2sexycom(m): 1:59pm On Mar 30, 2016 |
blueAgent:You should have asked what I mean... before you posted. |
Re: Economic Blackmail By Foreigners And Their Protegees by grandstar(m): 6:42pm On Mar 30, 2016 |
tsmack: Many thanks for your response. What was worse was that the government regulated price for gas was so low that it discouraged investments. Deregulating the gas price would have been the way to go. Many government types believe that companies invest for patriotic reasons. Adams Smith in his book the "Wealth of Nations" said something akin to this: "That the butcher does not sell meat because he cares about his neighbor or community. He does so for his own basic and personal interest. In order to satisfy that interest however, he benefits the community". This is even truer today! 2 Likes |
Re: Economic Blackmail By Foreigners And Their Protegees by Nobody: 7:05pm On Mar 30, 2016 |
blueAgent: junior, do you really think you should be on the internet at all? that you have access to a phone that can browse doesn't mean that you have to. now go back and read my response IN CONTEXT and stop behaving like someone who doesn't know what his brain is meant for. before you show yourself here again I'd advice you to wait until you are taught in school the difference between TAUGHT and THOUGHT. |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 7:20am On Apr 02, 2016 |
Ioannes: By the time i was doing my Youth service you were still in junior secondary School. if you knew wat to say .you could have disproved me. No that will mean you punching above your weight. |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 7:27am On Apr 02, 2016 |
JSayin: Sorry i should have typed my comment in your native language. English seems to be hard for you to understand. |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 7:32am On Apr 02, 2016 |
2sexycom: sorry if i miss understood you. |
Re: Economic Blackmail By Foreigners And Their Protegees by blueAgent(m): 7:36am On Apr 02, 2016 |
sauskyjoe: Keeping dream. Liberia and Hiati have been dreaming for over 100years. |
Re: Economic Blackmail By Foreigners And Their Protegees by Nobody: 8:31am On Apr 02, 2016 |
blueAgent: I guess you need a refund from the schools you attended. I wouldn't have yabbed you if you had kept the conversation polite. but most of you run around on faceless fora such as this and think you have a monopoly on insults. I've got quite a bag full of tricks myself. like I said, read my response in CONTEXT. |
Fear Grips Ogd,okupe Others Ahead Of PDP Congress / Resign If You Can’t Stop Killings By Herdsmen – Groups Tell Buhari / Reps Reject VAT 7.5% Increment, Warn FG
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 117 |