Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,192,741 members, 7,948,725 topics. Date: Saturday, 14 September 2024 at 09:07 AM

Nigeria's Economy - Nairaland / General - Nairaland

Nairaland Forum / Nairaland / General / Nigeria's Economy (171 Views)

Buhari Safeguarded Nigeria’s Economy From Breakdown – Malami / Warri Blue Marlin Fish: Hunger, Ignorance Killing Nigeria Economy / Eko Atlantic City Eyes 2023 Finish As Nigeria Economy Rebounds - Bloomberg (2) (3) (4)

(1) (Reply) (Go Down)

Nigeria's Economy by fostermd(m): 2:40pm On Dec 07, 2023
I am constrained to write about our economy in Nigeria.The budget for next year is #28 trillion naira( around €26 billion euros) for a population of 200 million people.There is no way out of our poverty without industrialisation to generate employment. Government cannot create the jobs but provide enabling environment for industries to thrive.
So far successive Government and current one pay lip service to growth and only interested in lining their pocket.

I live in Ireland with population of just 5 million.The health budget alone for Ireland in 2024 is €24 billion euros ( almost the total budget of Nigeria).There's no magic any president can implement until we start manufacturing to create jibs,increase tax intake, reduce dependence on importation and increase export.That is the only way out of Nigeria's financial mess ,create a path to property and reduce the falling value of the naira.The exchange rate shouldn't be a problem if we are a productive country that exports.A devalued naira makes our product cheaper for export and in turn increase our forex intake.There is nothing wrong with import if we only import necessary things and at the same time exporting massively to balance the trade.At the moment,there's significant imbalance tilted towards mainly importation without significant exports.

Ireland has more than 600 pharmaceutical companies, the 5th largest exporter of drugs and medical devices in the world.From January till November 2023,the revenue has already received €84 billion euros in tax.The universities here work with industries,carry out research and produce products they get royalties from.One University sold the patent of a device to a company for tens of millions of euros and in addition are collecting a percentage for every unit of the device produced by the company for life!

We need to overhaul our education system to be more research based to churn out products and solve problems.Anyone expecting significant change in the country would've disappointed until we become a productive country.If you take away oil export from Nigeria,our GDP will drop significantly. I would love to read opinion about how to move the nation forward.
Re: Nigeria's Economy by 1TrippleCee: 2:45pm On Dec 07, 2023
Where we are today is a pure result of the paths and methodologies we applied decades back. I started shouting for research based educational systems as far back as 1996, rather than listen to me, my friends who felt i was trying to prove superior took several actions to hurt me. From commissioner of education to public places I kept crying that unless we steered the education from trying to impress a teacher by cramming and regurgitating what we crammed during exams we were headed for a doom


The education here trains people yo look for job. Whereas today, i am embarking on my over 1,000+ project number.


The exam bodies sell/swap the results of the Very acaedmic studens thereny wealening the morale of the astute students. The morale to read because academia seems to almost show no proof of rewards.


Teachers do not put in their best. When some of us left the academia for autodudactism, we looked like fools and where mocked, today, the results proves otherwise, how much will a company pay for my skill set?


I arrived a local community, from getting water from the river without feul for use, to converting the kinetic energy of water flow to electricity to photovoltaics. My hands are full


One project to the next.


Anyways, y'all watch out for the natilization of my research finally being realesed into the market 2024.
Re: Nigeria's Economy by VERTEX1: 9:23pm On Feb 27
1TrippleCee:
Where we are today is a pure result of the paths and methodologies we applied decades back. I started shouting for research based educational systems as far back as 1996, rather than listen to me, my friends who felt i was trying to prove superior took several actions to hurt me. From commissioner of education to public places I kept crying that unless we steered the education from trying to impress a teacher by cramming and regurgitating what we crammed during exams we were headed for a doom



The education here trains people yo look for job. Whereas today, i am embarking on my over 1,000+ project number.


The exam bodies sell/swap the results of the Very acaedmic studens thereny wealening the morale of the astute students. The morale to read because academia seems to almost show no proof of rewards.


Teachers do not put in their best. When some of us left the academia for autodudactism, we looked like fools and where mocked, today, the results proves otherwise, how much will a company pay for my skill set?


I arrived a local community, from getting water from the river without feul for use, to converting the kinetic energy of water flow to electricity to photovoltaics. My hands are full


One project to the next.


Anyways, y'all watch out for the natilization of my research finally being realesed into the market 2024.

Can I send you dm plss
Re: Nigeria's Economy by 1TrippleCee: 1:59pm On Mar 14
VERTEX1:


Can I send you dm plss


What's up ?

(1) (Reply)

Funke Akindele's New Movie ‘A Tribe Called Judah’ Hits Nigerian Cinema On Decemb / The Attempted Coup Against MC Oluomo By Sego / How Old Are You on Nairaland

(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. 17
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.