Why can’t we do the same.

De play. Kuwait population is 4m. That's like one local government in Kano lol (pun intended)

Kuwait dinar is the world highest currency. Why's that? What happened to Saudi, Russia USA and the rest of the big boys in the oil industry. Why is Kuwait money higher than their money? They all have oil remember?

alanto:


De play. Kuwait population is 4m. That's like one local government in Kano lol (pun intended)

Kuwait dinar is the world highest currency. Why's that? What happened to Saudi, Russia USA and the rest of the big boys in the oil industry. Why is Kuwait money higher than their money? They all have oil remember?

I still don't get you, you are yet to connect ur first sentence to the second....

tonicyril:
I still don't get you, you are yet to connect ur first sentence to the second....

most people are very stupid. What does backing ur currency up with oil have ANYTHING to do with having a low population?

alanto:


De play. Kuwait population is 4m. That's like one local government in Kano lol (pun intended)

Kuwait dinar is the world highest currency. Why's that? What happened to Saudi, Russia USA and the rest of the big boys in the oil industry. Why is Kuwait money higher than their money? They all have oil remember?

Too much senses in just few lines.

alanto:


De play. Kuwait population is 4m. That's like one local government in Kano lol (pun intended)

Kuwait dinar is the world highest currency. Why's that? What happened to Saudi, Russia USA and the rest of the big boys in the oil industry. Why is Kuwait money higher than their money? They all have oil remember?

From my knowledge having a much more population should be an aadvantage

We are not just using our human assets properly thats all..

No arithmetic measure you want to use that would make 4m greater than 200m

tonicyril:
I still don't get you, you are yet to connect ur first sentence to the second....

Lol how much do you have in ECA? I am sure it’s less than $1 billion while Kuwait investment has $803 billion dollar
Mumu

ambale:


From my knowledge having a much more population should be an aadvantage

We are not just using our human assets properly thats all..

No arithmetic measure you want to use that would make 4m greater than 200m

Yes you are right, but the problem with op argument is that he is basically saying we are an oil producing country therefore we should be as rich as Kuwait.

tonicyril:
I still don't get you, you are yet to connect ur first sentence to the second....

Very easy to do

Kuwait produces twice as much oil as we do

Kuwait also has a population of less than 5 million people

That means that revenue per capita for Kuwait is much higher than that for Nigeria, which has some 40 times Kuwait's population

Kuwait can therefore afford to do what you said it can do


For Nigeria to be like Kuwait we have to diversify our economy, become an exporter of much more than oil , IE become an exporter of manufactured goods and services.

paxx:


most people are very stupid. What does backing ur currency up with oil have ANYTHING to do with having a low population?

Low population oil producing countries have more dollars to spare for backing up their currency.

Nigeria produces half the oil Kuwait produces but has 40 times Kuwait population. That means that Kuwait has a higher GDP per capita, which means they have enough dollars to spare for backing up their currency

Nigeria needs to diversify its economy.

Op we can not do the same cause some Nigerians are extremely wicked, evil and heartless

How do you explain that one’s some persons enters into any position, the next thing is looting without minding it’s consequences on the people and many idiots will be hailing them as master strategist, odugwu etc

@op we no dey produce anything substantial to cater for our needs not to talk of export.
We import food, health, cloth, shelter, even entertainment that is our strength is imported.
Nigerians go to another country to host an event for Nigerians living in Nigeria to buy ticket quoted in foreign currency to travel out to attend such event, how many people from other countries dey do such??
Till we stop craze for foreign consumption, forget it, we go dey para every day over exchange rate since we no get anything to sell

nairalanda1:


Very easy to do

Kuwait produces twice as much oil as we do

Kuwait also has a population of less than 5 million people

That means that revenue per capita for Kuwait is much higher than that for Nigeria, which has some 40 times Kuwait's population

Kuwait can therefore afford to do what you said it can do


For Nigeria to be like Kuwait we have to diversify our economy, become an exporter of much more than oil , IE become an exporter of manufactured goods and services.

But Nigeria is not a production country bro. We import import & import like say them use import swear for this country..

How do we be at advantage at export when Nigerians themselves don’t like using Made in Nigeria items?

I still maintain my stand that going back to regionalism is the way forward!

GeneralPula:

But Nigeria is not a production country bro. We import import & import like say them use import swear for this country..

How do we be at advantage at export when Nigerians themselves don’t like using Made in Nigeria items?

I still maintain my stand that going back to regionalism is the way forward!

Regionalism won't solve our problems

For starters, cocoa and cotton and groundnuts are not the money makers they once were.

Secondly, we are competing against countries that have large scale mechanized farming.

Third, using solid minerals is subject to the same problems as oil . Fluctuations in price

Fourth, we got rid of regions because majority tribes were oppressing minority tribes.

Fifth, most Nigerians want more states.

And anyway, the best economic base for Nigeria, regions or no regions, is an economy dependent on the export of industrial goods and services

Regions is not going to stop imports.

ambale:


From my knowledge having a much more population should be an aadvantage

We are not just using our human assets properly thats all..

No arithmetic measure you want to use that would make 4m greater than 200m

Dey play... Imagine if only igala and not even one of the major tribes in Nigeria is enjoying all the oil money? Like only ijaw is enjoying the oil money... It means more money to share within less people and definitely smaller space to build infrastructure.

nairalanda1:


Very easy to do

Kuwait produces twice as much oil as we do

Kuwait also has a population of less than 5 million people

That means that revenue per capita for Kuwait is much higher than that for Nigeria, which has some 40 times Kuwait's population

Kuwait can therefore afford to do what you said it can do


For Nigeria to be like Kuwait we have to diversify our economy, become an exporter of much more than oil , IE become an exporter of manufactured goods and services.

During the buhari regime that wS what I was shouting about when he was borrowing, borrowing and borrowing just to build bridges, road to niger and malfunctioning railway track. I was like...abeg, eem dey borrow money to build house?? No be when u chop beleful dem dey build house?
Na investment dem dey borrow money to do not infrastructure, it's when ur investment start yielding that u start building infrastructure.

What am I saying in essence, when he was borrowing like mumu, he's suppose to use the fund for the rebuilding of our refineries across the country, build a rice mill in the north and south, build a factory where gold, and the likes are turned to final products. Then wen we start producing finished products of oil and gas, rice and gold then we can export to neighbouring countries, from there our economy will boom, our money will rise in value..

But no, he kept borrowing to patch budget which is to be looted...mtchew..

nairalanda1:


Low population oil producing countries have more dollars to spare for backing up their currency.

Nigeria produces half the oil Kuwait produces but has 40 times Kuwait population. That means that Kuwait has a higher GDP per capita, which means they have enough dollars to spare for backing up their currency

Nigeria needs to diversify its economy.

Government expenditure and population are not directly proportional. If the logic is right then high immigration to the UK and Canada would mean those countries would get poorer soon.
In the curious case of Nigeria, what does the government really spend on? Recurrent expenditure and capital expenditure, as always recurrent expenditure outstrips capital. And the recurrent is an over valued political structure (which isn’t revenue generating) and a few civil servants. Kuwait doesn’t have this.
Nigerian government has no form of welfare that impacts the average Nigerian, is it in healthcare? education? Sport? Housing? Where is our crude revenue truly spent? And are our budgets pro or anti development? Is what we have in terms of infrastructure truly a reflection of our revenues?

Christine lagarde once refused to provide loans to Nigeria because she opined that the money to deal with the issue then was in Nigeria.
A secretary of IMF during an interview at a SSEF said if Nigeria manages its oil revenues adequately it would be amongst the developed countries and there are studies to show this. I have nothing against diversification but let’s start with accountability, what leaves our shores, how much of it is swapped, how much money is returned?

Be it 4 or 100 million certain infrastructure of a country will always be present. Airports, railway, tram, road networks, hospitals, housing, (even beyond the current population utilization), schools, military equipment. Qatar an equally small country recently hosted a World Cup, ask the question, were the amenities used by visitors built just because of the World Cup? Same can be said of Dubai, Canada and others.

Nigerias population is an asset. The government has chosen not to be industrious. If and when it decides to expand on development of energy, both thermal, hydroelectric, LNG, fossil and renewable forms like hydrogen an industry would be developed that would take over Africa and stamp our dominance in the sector world over, leaving out other exports.

OlujobaSamuel:
@op we no dey produce anything substantial to cater for our needs not to talk of export.
We import food, health, cloth, shelter, even entertainment that is our strength is imported.
Nigerians go to another country to host an event for Nigerians living in Nigeria to buy ticket quoted in foreign currency to travel out to attend such event, how many people from other countries dey do such??
Till we stop craze for foreign consumption, forget it, we go dey para every day over exchange rate since we no get anything to sell

Jah bless you bro. This is the only reality! Same thing I said up there earlier..

No country on earth like Nigeria can grow when the selling point is importing! We import almost everything!

Nigeria is the only country on earth where parent don't want their kids become a farmer. Infact, if you advice anybody to start farming, they'll start cursing you that you don't want them to make it in life! They don't want to farm, but they're interested in buying rice #1 per derica!

Take a look at Vietnam - imagine an average Vietnamese have Nigerian mentality, how will Vietnam be exporting rice all around the world today?

Nigeria is one country that's blessed with good arable land! Our land can grow almost all major cash crops! During the era of our forefathers that were predominantly farmers, did you notice life was highly better then? 95% of what they consumed were produced locally here!

The most funniest thing is the Nigeria we see today is still better compared to the Nigeria that will come in 50 years! I said this because of these present Nigeria Genz! They're the ones that will finally kill off Nigeria kpatakpata! All they want to do is TikTok, yahoo, hookup! Compare Nigeria citizens of today to USA citizens of today to France citizens of today to china citizens of today, then you'll understand what I mean about 50years to come!

tonicyril:


During the buhari regime that wS what I was shouting about when he was borrowing, borrowing and borrowing just to build bridges, road to niger and malfunctioning railway track. I was like...abeg, eem dey borrow money to build house?? No be when u chop beleful dem dey build house?
Na investment dem dey borrow money to do not infrastructure, it's when ur investment start yielding that u start building infrastructure.

What am I saying in essence, when he was borrowing like mumu, he's suppose to use the fund for the rebuilding of our refineries across the country, build a rice mill in the north and south, build a factory where gold, and the likes are turned to final products. Then wen we start producing finished products of oil and gas, rice and gold then we can export to neighbouring countries, from there our economy will boom, our money will rise in value..

But no, he kept borrowing to patch budget which is to be looted...mtchew..

You understood the situation. Can we just agreed that our solution is not in prayer, it's just our leaders

nairalanda1:


Regionalism won't solve our problems

For starters, cocoa and cotton and groundnuts are not the money makers they once were.

Secondly, we are competing against countries that have large scale mechanized farming.

Third, using solid minerals is subject to the same problems as oil . Fluctuations in price

Fourth, we got rid of regions because majority tribes were oppressing minority tribes.

Fifth, most Nigerians want more states.

And anyway, the best economic base for Nigeria, regions or no regions, is an economy dependent on the export of industrial goods and services

Regions is not going to stop imports.

No matter what, there wil always be 2 sides bro. But when Nigeria was running regionalism system of government, they were better off compared to federalism!

Baxilexi:


Government expenditure and population are not directly proportional. If the logic is right then high immigration to the UK and Canada would mean those countries would get poorer soon.
In the curious case of Nigeria, what does the government really spend on? Recurrent expenditure and capital expenditure, as always recurrent expenditure outstrips capital. And the recurrent is an over valued political structure (which isn’t revenue generating) and a few civil servants. Kuwait doesn’t have this.
Nigerian government has no form of welfare that impacts the average Nigerian, is it in healthcare? education? Sport? Housing? Where is our crude revenue truly spent? And are our budgets pro or anti development? Is what we have in terms of infrastructure truly a reflection of our revenues?

Christine lagarde once refused to provide loans to Nigeria because she opined that the money to deal with the issue then was in Nigeria.
A secretary of IMF during an interview at a SSEF said if Nigeria manages its oil revenues adequately it would be amongst the developed countries and there are studies to show this. I have nothing against diversification but let’s start with accountability, what leaves our shores, how much of it is swapped, how much money is returned?

Be it 4 or 100 million certain infrastructure of a country will always be present. Airports, railway, tram, road networks, hospitals, housing, (even beyond the current population utilization), schools, military equipment. Qatar an equally small country recently hosted a World Cup, ask the question, were the amenities used by visitors built just because of the World Cup? Same can be said of Dubai, Canada and others.

Nigerias population is an asset. The government has chosen not to be industrious. If and when it decides to expand on development of energy, both thermal, hydroelectric, LNG, fossil and renewable forms like hydrogen an industry would be developed that would take over Africa and stamp our dominance in the sector world over, leaving out other exports.

UK and Canada are industrial societies, and such societies generate jobs directly and indirectly. Immigration is a bonus to them in a way, ( and it does put a strain on their economies)

What I am saying is simple. Nigeria cannot be like Kuwait because our revenue per capita is lower than Kuwait. We should strive to be like the UK and Canada. Industrial nations that export industrial goods and services

tonicyril:


During the buhari regime that wS what I was shouting about when he was borrowing, borrowing and borrowing just to build bridges, road to niger and malfunctioning railway track. I was like...abeg, eem dey borrow money to build house?? No be when u chop beleful dem dey build house?
Na investment dem dey borrow money to do not infrastructure, it's when ur investment start yielding that u start building infrastructure.

What am I saying in essence, when he was borrowing like mumu, he's suppose to use the fund for the rebuilding of our refineries across the country, build a rice mill in the north and south, build a factory where gold, and the likes are turned to final products. Then wen we start producing finished products of oil and gas, rice and gold then we can export to neighbouring countries, from there our economy will boom, our money will rise in value..

But no, he kept borrowing to patch budget which is to be looted...mtchew..

We borrow and have borrowed even before 2015 because oil prices have never been where we want them to be

That is why APC has been bad for Nigeria. They failed to diversify our economy. As a result we ended up borrowing

GeneralPula:


No matter what, there wil always be 2 sides bro. But when Nigeria was running regionalism system of government, they were better off compared to federalism!

No, we were not. Most of the population lived in poverty and our Forex needs were not as high as now.

Also we have more urban dwellers than we did in the 1960s. More educated people. All demanding higher income and all demanding more imported stuff. It all adds up

seunlayi:

You understood the situation. Can we just agreed that our solution is not in prayer, it's just our leaders

Lol, how is our solution a prayer??

Inshort bro, I don't belive in incessant prayers...God has given us the right equipment to use for our good and upliftment, equipment like brains and intellect, and he has given us the resources to which we re to manage with the brains and intellect, but we ignore, we didn't utilise what He gave us to comfort ourselves, instead we keel prayer nonsense prayers upandan.

Abeg who prayer help?? Nonsense.

Our leaders has always been our problems, coupled with some powerful individuals who are gaining heavily from the drawdown of the country.

nairalanda1:



We borrow and have borrowed even before 2015 because oil prices have never been where we want them to be

That is why APC has been bad for Nigeria. They failed to diversify our economy. As a result we ended up borrowing

See bros, I am not even against borrowing, but if we must borrow then the output should worth it.

Imagine borrowing money for infrastructure when u can build refineries and other big factories to boom economy and counter the unemployment

nairalanda1:


No, we were not. Most of the population lived in poverty and our Forex needs were not as high as now.

Also we have more urban dwellers than we did in the 1960s. More educated people. All demanding higher income and all demanding more imported stuff. It all adds up

All demanding higher income from which economy? . And no, I don’t think Nigeria now has more educated people. What I feel is Nigeria has more people holding certificates! Most Nigerians are not as educated as we assume they’re! My own view tho!

Forex need was high now because we import more than before, isn’t it? Now, lemme use this dollar issh as example. Do northerners imports as much as southerners do? But when you check it well, northerners are the ones selling dollar pass! I usually laugh whenever southerners do brag they’re intelligent more than the north! There’s a reason why north don’t make noise! They make things happen to their advantage lowkey!

Aboki go buy dollar at cheap price from CBN thru illegality. They’ll now be selling to southerners in high rate! Southerners will now be blaming government ! I’m a southerner, but I can tell you that southerners are the most stupid Nigerians!

I repeat, going back to regionalism can solve many things! Even tho, if we’ll have to come back to federalism later! We need to go back to regionalism to restructure many things! Nothing can absolutely work in Nigeria of now with this system of government!

GeneralPula:

But Nigeria is not a production country bro. We import import & import like say them use import swear for this country..

How do we be at advantage at export when Nigerians themselves don’t like using Made in Nigeria items?

I still maintain my stand that going back to regionalism is the way forward!

apc government is even making things. the cost of production is high with little security of investment..

Our population can become a blessing and a curse with the level of corruption and political blindness it is a curse. If nigeris was just 10 million ppl we would be a very rich nation. And it would be easier to manage..our leaders dont have the cerebral capacity to manage the dynamics of 200+ million ppl . When in fact our population makes it just right for us to rapidly develop for God sake most of population are made up of youthful energy let's put it to use..but clueless leaders are wasting the energy of the youths in 40ysrs time that youthful energy would be gone. The finest breed of Nigerians were born in the 1940 and 50s. After that the decline started those guys were tutored by white men here in nigeria and most could stand side by side with the best of the west. Just look at the first products of Nigeria first 3 universities those guys were the best .highly cerebral.. cultured...with strong morals .were not moved by money .they didn't want to be so rich they just wanted their lives to have a meaning and their communities and region to be peaceful and productive.

GeneralPula:

Jah bless you bro. This is the only reality! Same thing I said up there earlier..

No country on earth like Nigeria can grow when the selling point is importing! We import almost everything!

Nigeria is the only country on earth where parent don't want their kids become a farmer. Infact, if you advice anybody to start farming, they'll start cursing you that you don't want them to make it in life! They don't want to farm, but they're interested in buying rice #1 per derica!

Take a look at Vietnam - imagine an average Vietnamese have Nigerian mentality, how will Vietnam be exporting rice all around the world today?

Nigeria is one country that's blessed with good arable land! Our land can grow almost all major cash crops! During the era of our forefathers that were predominantly farmers, did you notice life was highly better then? 95% of what they consumed were produced locally here!

The most funniest thing is the Nigeria we see today is still better compared to the Nigeria that will come in 50 years! I said this because of these present Nigeria Genz! They're the ones that will finally kill off Nigeria kpatakpata! All they want to do is TikTok, yahoo, hookup! Compare Nigeria citizens of today to USA citizens of today to France citizens of today to china citizens of today, then you'll understand what I mean about 50years to come!

in nigeria there is no incentive to farm. Farming you need machines, you need water, you need rawmaterials, you need a lot of things. Only the northerners perfer farming the old way and you can see the output cannot even meet the demand. They only count on their numbers. The average southerner dont have the patience and is not willing to farm the old way. Give a southerner security, machines and salary he would galdly farm.

jesmond3945:
in nigeria there is no incentive to farm. Farming you need machines, you need water, you need rawmaterials, you need a lot of things. Only the northerners perfer farming the old way and you can see the output cannot even meet the demand. They only count on their numbers. The average southerner dont have the patience and is not willing to farm the old way. Give a southerner security, machines and salary he would galdly farm.

Who told you there’s no incentive to farm in Nigeria? Things you people just say a lot about Nigeria ehh, thank God I’m also a farmer. I own farm lands and I’m also into animal plantation. There’s nothing I needed that I didn’t see easily!

What machines do you need?;
Tractors, ridgers, planters, harvesters? They’re all available! Water? It’s the most easiest abi is there no water in your state? If there’s no water, then you can practice irrigation! It’s not that cost!

Raw materials? What raw materials do you need? They’re available everywhere! But I agree with you, southerners don’t have patience at all! This is the summary of why things are like this!

Security? Which security is a southerner using to go club for Night that he can’t use the same security to go farm during the day?

Salary - I don’t understand what you mean here?

GeneralPula:

Jah bless you bro. This is the only reality! Same thing I said up there earlier..

No country on earth like Nigeria can grow when the selling point is importing! We import almost everything!

Nigeria is the only country on earth where parent don't want their kids become a farmer. Infact, if you advice anybody to start farming, they'll start cursing you that you don't want them to make it in life! They don't want to farm, but they're interested in buying rice #1 per derica!

Take a look at Vietnam - imagine an average Vietnamese have Nigerian mentality, how will Vietnam be exporting rice all around the world today?

Nigeria is one country that's blessed with good arable land! Our land can grow almost all major cash crops! During the era of our forefathers that were predominantly farmers, did you notice life was highly better then? 95% of what they consumed were produced locally here!

The most funniest thing is the Nigeria we see today is still better compared to the Nigeria that will come in 50 years! I said this because of these present Nigeria Genz! They're the ones that will finally kill off Nigeria kpatakpata! All they want to do is TikTok, yahoo, hookup! Compare Nigeria citizens of today to USA citizens of today to France citizens of today to china citizens of today, then you'll understand what I mean about 50years to come!

My child don dey shook eye for my poultry biz small small, this generation no one do anything dirty as most dirty work no get fast money