IllegalMoney:





Buhari the dullard should resign

..and the problem is solved?

donbenedict:
central bank should mop up excess naira chasing few goods!

Is the problem not much deeper than this?

I think the problem is that we consume (through importation) far much more than our income

shadeyinka:


You have reduced the problems to:
1. The practice of Socialist type of Governance
2. Paucity of Foreign Investors.

Forgive me for being naive. What specifically will Foreign Investors do in Nigeria?
Is infrastructure our major problem or fundermental manufacturing structures?

1. Technology transfer

2. Modernization

3. Provision of Employment

4. Risk sharing (Joint venture partnerships)

5. Bringing out the best potential out of our Local Industries that are bound to be part of their supply chains thereby exposing them to modern challenges and bringing out the best in them.

managing Nigerain's economy is the same thing with managing your family, if you lost a job (source of income(oil drop) no more salary to carry our your responsibility. solution look for another job to fill up that space. (other source of income) (1)Agriculture, (2) mining e.t.c so that you can still get salary (dollar)

Eliminate corruption by eradicating nepotism n favourism ( if govt. Officials ar elected based on merit) capable hands will b given d chance 2manage d country affairs.
2) diversification/ public enlightenment: go in2 agriculture, promote local industries, dollar is not our currency, so indigenous economy wil reduce d demand 4dollar
3) Tourism: we av tourist site in al d 36states but not valued as expected. Osun osogbo festival: if well packaged it wil generate income ( Saudi Arabia n jerusalem make alot from d annual visit)
Our elites / ruling class shld b mentally decolonise n stop feeling inferior 2d westerners
Nigeria possessed most d power indices 2bcom one of d super power: favorable geographical location, natural resources, population, we just need to build on dem n believe in ourselves

APCHaram:


They said they knew everything and don't need an economic team.


Let them continue groping in the dark within their mediocre assembly.

Obviously, the Buhari led Government should appoint an economic team based on not only the financially literate but Engineers, Scientists and Political analysts..

obaaderemi:
what got us here is that for many years we relied on a single commodity,oil and used the profit to import foreign goods we could have produced here.we refused to invest in manufacturing,agric,electricity,transportation,water,develop rural areas to check urban drift and to provide the right education for the future generation.we wasted our chance.now tell me,if that commodity fails,what happens.its already happening!if buhari is serious one year was enough to have diagnose the problem and to get cracking.by now we should have stable power and started exporting agric produce.what he can do now as temporary measure is to take away the restriction on access to dollars and to invest seriously on agric and power.but its getting late as i type

It is late I agree but not too late. If we don't start work noe, there is no magic it will get worse...and one day, to buy a box of matches, you will pay N2600.

All the developed countries sell expertees and not raw materials.

IllegalMoney:





Buhari the dullard should resign

..after that, What next is the question!

MadamExcellency:



1. Technology transfer

2. Modernization

3. Provision of Employment

4. Risk sharing (Joint venture partnerships)

5. Bringing out the best potential out of our Local Industries that are bound to be part of their supply chains thereby exposing them to modern challenges and bringing out the best in them.

I agree with all you have said except technology transfer. It is a Nigerian English which does not exist anywhere.

No country transfers its technology. Technology is either Bought, Developed, Clonned or Stolen; never transfered.

ucheokpara100:
managing Nigerain's economy is the same thing with managing your family, if you lost a job (source of income(oil drop) no more salary to carry our your responsibility. solution look for another job to fill up that space. (other source of income) (1)Agriculture, (2) mining e.t.c so that you can still get salary (dollar)

I agree with you except for mining.
Mining is the same as oil? It is a placebo. It doesn't solve our problem

shadeyinka:


Obviously, the Buhari led Government should appoint an economic team based on not only the financially literate but Engineers, Scientists and Political analysts..

Why are they complicating things so simple in this country? Why? Is this shear wickedness or obvious ignorance? Sanusi said something during Silverbird's anniversary in 2014, which is, if the problem of the masses are not address in timely manner, the elites might wake up one day to find their properties, families, investments razed by the masses. He said some many thing that struck cord but that is one I can pick from it. After he finished, not many of them applauded him.

Instead Agriculture or Minning minerals which the North has in abundance, Buhari is exploring for non existing oil in the North, wasting away the little money we have. The damage this man will do to APC's image before 2019 will not be redeemable in 100 years, no matter how many names the disguise under. I pity Tinubu because 2019 will be so exciting, the country is divided already and virtually all his supporters are tired.

nigeriapolitics:
Eliminate corruption by eradicating nepotism n favourism ( if govt. Officials ar elected based on merit) capable hands will b given d chance 2manage d country affairs.
2) diversification/ public enlightenment: go in2 agriculture, promote local industries, dollar is not our currency, so indigenous economy wil reduce d demand 4dollar
3) Tourism: we av tourist site in al d 36states but not valued as expected. Osun osogbo festival: if well packaged it wil generate income ( Saudi Arabia n jerusalem make alot from d annual visit)
Our elites / ruling class shld b mentally decolonise n stop feeling inferior 2d westerners
Nigeria possessed most d power indices 2bcom one of d super power: favorable geographical location, natural resources, population, we just need to build on dem n believe in ourselves

Diversification is surely a way to go. We may not be able to control who is voted in or elected into any office. So may sentiments come in in peoples choice

Hello Pat Utomi. Fancy seeing you here

searchng4love:
I have stopped advising people.

shadeyinka:


I agree with all you have said except technology transfer. It is a Nigerian English which does not exist anywhere.

No country transfers its technology. Technology is either Bought, Developed, Clonned or Stolen; never transfered.

No matter whatever means we get it, No company ever employs 100% foreigners, learning on the job is also technology transfer.

Have you ever heard of re-engineering?

When you dismantle gadgets, study them and think of a way of making it better helps.

shadeyinka:


I agree with you except for mining.
Mining is the same as oil? It is a placebo. It doesn't solve our problem

It doesn't but right now it seems the only other quick fix to boost our earnings before sustainable plans to get things right become reality. Hopefully it doesn't turn into another 'Dutch Disease' where we abandon the sustainable plans after getting comfortable

For our naira to improve, we need to increase exportation and reduce importation. To achieve this, i think th federal government should build a production friendly environment.

The unit cost of production in nigeria is higher than average in the world and as a result our prduct may hardly compete other product in the international market in terms of cosst and qaulity which in long ruin affect export which improve our currency

To build a production friendly environment, government should improve power output, and other infrastructure

The stubborn dictator should resign or repent and give his ministers free hand to work.

Scharck:
Hello Pat Utomi. Fancy seeing you here

Far from being Utomi... I just stopped before him. I think he's emulating me

motherfucker:


Why are they complicating things so simple in this country? Why? Is this shear wickedness or obvious ignorance? Sanusi said something during Silverbird's anniversary in 2014, which is, if the problem of the masses are not address in timely manner, the elites might wake up one day to find their properties, families, investments razed by the masses. He said some many thing that struck cord but that is one I can pick from it. After he finished, not many of them applauded him.

Instead Agriculture or Minning minerals which the North has in abundance, Buhari is exploring for non existing oil in the North, wasting away the little money we have. The damage this man will do to APC's image before 2019 will not be redeemable in 100 years, no matter how many names the disguise under. I pity Tinubu because 2019 will be so exciting, the country is divided already and virtually all his supporters are tired.

Buhari did not cause the problem on ground. The problems has been a cumulative of successive mismanagement previous government over the period of our existence as a country.

MadamExcellency:


No matter whatever means we get it, No company ever employs 100% foreigners, learning on the job is also technology transfer.

Have you ever heard of re-engineering?

When you dismantle gadgets, study them and think of a way of making it better helps.

I look at technology transfer in terms of like MTN, SHELL or MOBIL. What have they added technologicaly to this nation. Nothing!

chernest2002:
The stubborn dictator should resign or repent and give his ministers free hand to work.

We actually need a team with a director at the top and that director should ordinarily be the president.

nabiz:
For our naira to improve, we need to increase exportation and reduce importation. To achieve this, i think th federal government should build a production friendly environment.

The unit cost of production in nigeria is higher than average in the world and as a result our prduct may hardly compete other product in the international market in terms of cosst and qaulity which in long ruin affect export which improve our currency

To build a production friendly environment, government should improve power output, and other infrastructure

Excellent! It is people like you who should be appointed as special adviser to the president on the economy... Or even a minister.

You hit the solution on the head

Scharck:


It doesn't but right now it seems the only other quick fix to boost our earnings before sustainable plans to get things right become reality. Hopefully it doesn't turn into another 'Dutch Disease' where we abandon the sustainable plans after getting comfortable

I understand you, knowing Nigerian leaders a quick fix solution will become permanent as soon as money starts flowing in.

donbenedict:
I think Nigeria can do better without a senate

100℅.

We should have part time legislators who are only paid sitting allowances. That way, we can attract people who mean well for the country rather than the leaches and billionaire-wanna-bes we currently have.

shadeyinka:


Except for Rice and Wheat, I think Nigeria produced enough food. Even, then increasing our food supply except if you have exportation in mind doesn't solve the weakning Naira problem

If we produced enough food, then the prices of foodstuffs wouldn't be increasing in the manner that they are.

shadeyinka:


Buhari did not cause the problem on ground. The problems has been a cumulative of successive mismanagement previous government over the period of our existence as a country.

nobody is saying he is the cause, most fire outbreak an often not the fault of owners of buildings, but does that mean they should watch their house raze down by fire because they didn't cause it? His lackadaisical attitude has brought us to our knees

donbenedict:
central bank should mop up excess naira chasing few goods!

That measure is usually taken when inflation is caused by an overheating economy.
What we have now is the opposite, a comatose economy, where there is actually very little money floating in the system.

What we have right now is a rare case of STAGFLATION, inflation in a stagnant economic environment.

My opinion is that this STAGFLATION was caused or at the least, exacerbated by the wrong headed TSA implementation.
Therefore, any additional Moping of liquidity in this economy would make Venezuela look like a paradise.

shadeyinka:


I agree with all you have said except technology transfer. It is a Nigerian English which does not exist anywhere.

No country transfers its technology. Technology is either Bought, Developed, Clonned or Stolen; never transfered.

Excellent point.

How could there be technology transfer when our government allows oil companies allows oil companies to bring in medium level engineers and management staff from the Philippines and other places, instead of training available Nigerians for the work ?

The government has sooo much to do to re-engineer our entire economy.

donbenedict:
central bank should mop up excess naira chasing few goods!

A bankers solution, how about supporting manufacturing with cheaper fx to spur production of more goods?

jpphilips:


A bankers solution, how about supporting manufacturing with cheaper fx to spur production of more goods?

how abt we sack all incompetent heads of parastatals... emefiele cannot come out and say he has done d best he can do when actually he has done the worst. I want to wake up on a very fine day and get to the newspaper stand, take up a punch news paper that reads,


Godwin Emefiele has been sacked by the President.


It's really gona make my day awesome

MadamExcellency:
He needs a new cabinet (ministers), advisers and kitchen cabinet with focus on returning Nigeria to path of growth. For instance, read the excerpts below



The rich (no matter how they made their money) are hiding the cash and are no longer willing to invest in whatever venture for the fear that Buhari will either confiscate the cash or run them down. I want Buhari to apply wisdom when dealing with business community and investors. This is not a time to scare away investors, employers and entrepreneurs.

I want him to suspend public show of fight against corruption and do it more intelligently and underground until our economy recovers.

If it's possible, Buhari should give conditional amnesty to treasury looters (though this sounds absurd) to invest their loot in Nigeria within a specific time frame and this should be done in conjunction with NASS for a legal backing.

We need to put back Nigerians to doing something reasonable with their lives (decent jobs) to earn a decent wage.

If care is not taken, what post elections civil war couldn't do because of peaceful transition of political power in Nigeria may still be done by frustration, hunger and starvation - death, death and more death.

Looters suggestion, lol, sorry we will sustain the fight against corruption, our looters are not known to be investing in our economy but abroad.
The international community have confidence in this fight hence our ability to borrow when the need arises.

plaetton:

If we produced enough food, then the prices of foodstuffs wouldn't be increasing in the manner that they are.

Do you know that the average cost of yam from the farmer is between N60 and N90 per tuber. By the time it passes through the hands of the middlebmen it is already N200-N600 per tubber.

The point is that the government is not protecting the farmers that is why most young men will not want to be farmers.