mrvitalis:

The importers what infrastructure do they use now?

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Not sure who you mean by importers?

Fujiyama:


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Not sure who you mean by importers?

The goods we use today in Nigeria, what infrastructure do they use

Nigerian producers can use same infrastructure

mrvitalis:
The goods we use today in Nigeria, what infrastructure do they use

Nigerian producers can use same infrastructure

^^^
The infrastructure is non-existent or where it does exist, it is broken. This pushes up costs, retards growth and depresses productivity.

The point I'm trying to make is that sensible foreign borrowing to build infrastructure is a valid option to grow an economy and spur development. Your point is that it doesn't make sense to borrow to build infrastructure - and I'm saying the evidence doesn't support this.

Fujiyama:


^^^
The infrastructure is non-existent or where it does exist, it is broken. This pushes up costs, retards growth and depresses productivity.

The point I'm trying to make is that sensible foreign borrowing to build infrastructure is a valid option to grow an economy and spur development. Your point is that it doesn't make sense to borrow to build infrastructure - and I'm saying the evidence doesn't support this.

What infrastructure are we using to import and distribute goods if the infrastructure is broken

mrvitalis:

What infrastructure are we using to import and distribute goods if the infrastructure is broken

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Its in very poor shape. You know this. That's what I meant by broken.

Fujiyama:


^^^


Its in very poor shape. You know this. That's what I meant by broken.

We can manage that still till we have industries we can tax to build them

mrvitalis:

We can manage that still till we have industries we can tax to build them

^^^


Ok. We can agree to disagree.

idealogical:



Rail system is worthless and has no economic potential?

The crazy things we read on this platform

But he is quite correct! What he is saying is what infrastructure can help us to engage in production that is either import substitution or export production. Cos u borrowed $ for the railway... so what is the $ ROI. NOTE, It is NOT rail fares earned in naira converted to $ but $ opportunity cost. For instance, we can say the $19bn given(or sold)to dang refinery will yield billions of $ in savings every yr cos of import substitution (specifically refining). U could also say, d $ given (or sold) to BUA cement leads to $ revenue through export. If the govt invests bn$ in power for instance (with results), it leads to a lot more manufacturing of which some will be import sub and some export productn-- the $ values of these will be the $ ROI for the country, not even the taxes.

skj1377:
The 11billion spent to defend Naira went to private pockets .it was pure round tripping. Well let's see how it goes but I know the masses will suffer

Comments like this are provocative. Same thing as when they say "subsidy only benefits the rich". I don't understand what the hex you're saying.

The money spent to defend the Naira "went into private pockets", but yet Naira was N700 then, and now that the money has been removed from private pockets, Naira is about N1500. So is it better or not for Nigerians if "private pockets" keep pocketing that money, as long as the exchange rate remains relatively lower and stable? Make it make sense.

ayokellany:
With you antagonist nature of anything APC one can clearly deduce following you advice is the biggest mistake any rational being can take

Following his advice is the best.

Lastly you can't avoid floating the naira, maybe next time Nigeria shouldn't borrow money from the IMF so that they won't be given conditions like this.

Floating the naira gives investors opportunities to invest because no one controls it but who will invest in a country where there is no security. Your business can flame up any day.

sholay4star:
It's madness defending currency because it will never grow the economy, you float currency to boost economy, let water find it's level

If you had money will you invest in Nigeria?
Or in a country with a lot of security look at Ivory coast. Very peaceful, I can predict there won't be a war there for a long time.

Fujiyama:


^^^


Ok. We can agree to disagree.

If I'm in government I would never borrow money to build infrastructure except it's very very very needed

Honestly I believe taxing Nigerians is the only way to unite Nigerians

mrvitalis:

If I'm in government I would never borrow money to build infrastructure except it's very very very needed

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There is an infrastructure deficit at the moment. Everyone agrees on this. Without fixing the power and transport infrastructure deficit, we have not started at all. It is very, very needed.

mrvitalis:
Honestly I believe taxing Nigerians is the only way to unite Nigerians

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You are right.

But you can only successfully tax a person with an income...and you can only sustainably tax the formal sector. In this country right now, incomes are low and the majority of people operate in the informal sector - a notoriously difficult sector to tax successfully.

If you were in government you would face resistance if you tried to do that right now. People are poor and angry and they don't trust government one bit.

The first was a lie. The second is an error.