The Nigerian Communications Commission (NCC) will be spending N75 million this year to replace old toilet doors, locks, repainting of fading walls and provision of directional sign posts to the Commission’s waiting room and canteen.  This was even compounded by the fact that the budget was proposed after an allocation of N28 million was made for the same purpose in the budget of last year. Plus, in the 2011 budget, the Commission had proposed N60 million for automation and changing of all access doors of its head office building in Abuja.

(Excerpts from Those Doors From Heaven, in Saharareporters).

N75m + N28m + N60m = N163 million

If the Government is sincerely trying to create jobs and empowerment for the people. Is it not better to even:

[size=14pt]Give 100 million Nigeria and non-refundable sum of N1.5 million to start up a "micro" business or improve their current business - imagine what Nigeria will become in 2 to 3 years.[/size]

Hyper-Inflation. Government simply can't.

The government can then concentrate in providing Roads, Power, Security and holding down inflation.

jason123:

Hyper-Inflation. Government simply can't.

Inflation can be held down.
- Through banking (cashflow regulations)
- The economy will be growing Hyper-lightening too
- Policies can be implemented to diversify the economy

Or is it better for less than five people to eat the N150 million and those 100 million Nigerians live under $1 (N160) per day - so that inflation will remain low?

egift:

Inflation can be held down.
- Through banking (cashflow regulations)
- The economy will be growing Hyper-lightening too
- Policies can be implemented to diversify the economy

Intuition tells me that the Nigeria economy is controlled at the micro-level (I am not a economist, by the way. Perhaps Ekt bear, manny4life and co can help out). Using this, the average pepper seller, agbero and co (you said 100 m people) would have about 1.5m in their accounts. Why would this "average pepper-seller" continue to sell at 20N? To her, the labour to profit ratio would not be worth it anymore. She might start demanding for 50N or 100N or better still, drop the business and start a new one (renting generators, distributorship etc). If this continues, we would lose our grass root which I think is till necessary in Nigeria. Also, the inflation that would accompany such a move would not a funny.

jason123:

Intuition tells me that the Nigeria economy is controlled at the micro-level (I am not a economist, by the way. Perhaps Ekt bear, manny4life and co can help out). Using this, the average pepper seller, agbero and co (you said 100 m people) would have about 1.5m in their accounts. Why would this "average pepper-seller" continue to sell at 20N? To her, the labour to profit ratio would not be worth it anymore. She might start demanding for 50N or 100N or better still, drop the business and start a new one (renting generators, distributorship etc). If this continues, we would lose our grass root which I think is till necessary in Nigeria. Also, the inflation that would accompany such a move would not a funny.

Nice. But I believe those "micro" items will still be available and be sold. Even well packaged. People will have money to buy. In countries, where the average purchasing power is high, there are still poor people around and little thing sold too. High inflation may be at the start, but with good policy implementation, Inflation can be held down.

^^^
On 50k
When I was in primary school, we attended Children's Day celebrations. With 50k, I bought 3 plates of rice with meat, 3 ice-cream (home-made) for me and my 2 other friends and still had a 20k balance.

Today, N1,000 cannot get all that for me - that is nearly 2,000 times the worth of what I had then! Do you call what we have today a "supersonic" "hyper ventive" Inflation?

One million is too small.Give loans at 5% to small businesses,maximum 20million
spread the payment for minimum 7years.Loans to be guaranteed through the credit
agency bureau.You will see the economy move in real terms before 4yrs time.

@OP, your suggestion is way childish.

Have you tried multiplying 100million * 1.5 million = 150,000,000,000,000 = 150[b] trillion[/b] naira

@ op
how old are you? Please do not let people to read this oo. Eh,see what Nigeria has turned some of its own to. God dey oh.

egift:

The Nigerian Communications Commission (NCC) will be spending N75 million this year to replace old toilet doors, locks, repainting of fading walls and provision of directional sign posts to the Commission’s waiting room and canteen.  This was even compounded by the fact that the budget was proposed after an allocation of N28 million was made for the same purpose in the budget of last year. Plus, in the 2011 budget, the Commission had proposed N60 million for automation and changing of all access doors of its head office building in Abuja.

(Excerpts from Those Doors From Heaven, in Saharareporters).

N75m + N28m + N60m = N163 million

If the Government is sincerely trying to create jobs and empowerment for the people. Is it not better to even:

[size=14pt]Give 100 million Nigeria and non-refundable sum of N1.5 million to start up a "micro" business or improve their current business - imagine what Nigeria will become in 2 to 3 years.[/size]

smh

what kind of math is this?

I never knew some of these nairalanders who sound so intelligent on a normal day could be so dull and have such a low IQ. Egift Ʊ fall my hand shall. Moderator pls remove this post ASAP. cos its so embarrassing, it can tarnish Nigerian image internationally.

When the govt gives out allowances to ex militants you all are protesting yet such embarrassing ideas like this are not far from your minds. SMH

daroz:

I never knew some of these nairalanders who sound so intelligent on a normal day could be so dull and have such a low IQ. Egift Ʊ fall my hand shall. Moderator pls remove this post ASAP. cos its so embarrassing, it can tarnish Nigerian image internationally.  

My brother don't mind me. My reach or estimate may be too large - with adjustments here and there, I still believe a good plan can be put in place.

If Politicians and even thugs will have multi-billions, a few Trillions that hand over economic power to the people - will not be strange. I accept my desire of a 100 million Nigerians may be too high. But considering that nearly about that number live at less than $2 per day, what else can I desire?

In 2010, 93.9% of respondents felt themselves to be poor compared to 75.5% six years earlier.

Nigeria's population in poverty (people living less than $2 a day)
1980: 17.1 million
1985: 34.7 million
1992: 39.2 million
1996: 67.1 million
2004: 68.7 million
2010: 112.47 million

Source: Nigeria's National Bureau of Statistics

violent:

Oya violent, help me with this question - Estimate how much have been spent/stolen by our Politicians in the last 10yrs?