Obaaderemi2:
This is the only time I've ever seen you make a sensible post.

This is exactly the same thing I said on another thread but people "shouted" me down by saying government has no business in setting up businesses or having direct contribution to businesses. Government does not need to set up businesses but can give loans through commercial banks to credible businesses that the banks will vet and scrutinize.

What Nigerians need more than anything else now are jobs. A good way to create jobs is for the government to get involved through the banks to provide loans to business owners, commercial farmers, etc. Jobs would multiply and revenue would accrue to government in terms of taxes.

The revenues over time would provide the infrastructure. China did a similar thing and their economy is booming today with infrastructure springing up everywhere. Obasanjo took $16bn to provide electricity. Where is the electricity today 24 years later. Now, imagine if $16bn then had been invested through the banks into industries such as textile, clothing, leather goods, food processing, etc for 24 years. The multiplier effects would have lifted millions out of poverty today.

You're wrong.
Imagine Obj invested that $16bn in the AKK gas PMB started.
Nigeria would have been able to competing with Russia today on gas and we would have been making mad revenue.

mrvitalis:

Exactly my point dangote can export cement without needed government infrastructure then others ...I am a business man I know access to credit is far more important to me than any infrastructure

You mean Dangote is transporting his cement through the air and not through roads and bridges?

mrvitalis:

Lmao I so much dislike FDI that I'm seeing it everywhere ...yes bro growth in HDI is the key

Main reason I supported Obi for president

Obi did well in HDI, Fashola did well in infrastructures. Today which of the states attracts the most investments?

mrvitalis:

I don't believe in HDI ...I believe in supporting native industries to grow to world class ... we grow by having thousands of dangote who would be so big they invest around the world n bring the profit back home

No developed nation today got there by HDI ...you grow by supporting local businesses with prospects ...imagine giving innosson access to 2 billion dollars at 5% interest ? Tell me he won't dominate Africa?

Won't airpeace best Ethiopian air if he has access to capital ?

Chicken republic has the potential to revolutionise Nigeria agro industries

This is how you grow FDI would always strangulate an economy

Yes, you give Innoson $2bn for his car production and then he produces enough cheaper cars and sell them to Nigerians. And Nigerians buys the cheap cars and will drive the cars on which roads?

Perfectbeing:
Yes, you give Innoson $2bn for his car production and then he produces enough cars and sell them to Nigerians. And Nigerians will drive the cars on which roads?

Same roads they drive the imported cars sir

Perfectbeing:
Obi did well in HDI, Fashola did well in infrastructures. Today which of the states attracts the most investments?

Lagos had a massive head start in infrastructure na

mrvitalis:

Let's say it's 2 million ...how many container does Nigeria receive per year ....so a struggling nation like Nigeria right now have absolutely no business building rail lined now

Rail line system now would cost nothing less than 15 billion dollars ...so if Nigeria is given to you right now you would borrow 15 billion dollars to build rail ?

So if $15bn is given to you now, you'll share the money to Nigerians as credits and when the manufacture their goods they'd transport it on the air?

Perfectbeing:
So if $15bn is given to you now, you'll share the money to Nigerians as credits and when the manufacture their goods they'd transport it on the air?

No give it to banks at 3% interest to give to people they think meet the needed criteria

mrvitalis:
and you think the best way to grow revenue is more Infrastructure?

Yes. Use Lagos as the best case scenario in Nigeria. No not Lagos, use Ogun State.
Ogun States invests more in infrastructures than Anambra and it makes the 3rd most IGR after Lagos and FCT

mrvitalis:

Increasing tax base should be what we need to do but putting money into infrastructure now is a waste especially borrowed money

We need to break even first ... revenue should be more than debt servicing n recurrent expenditure before u think of infrastructure

Debt servicing n recurrent expenditure is over 3 times revenue n you want to borrow to build infrastructure instead of investing to increase revenue collection base

Let me ask you something. Why is Alex Otti borrowing of 400bn to invest in capital projects which is infrastructures?

mrvitalis:

No give it to banks at 3% interest to give to people they think meet the needed criteria

Those money will go off the drain if there's no infrastructures and security.

mrvitalis:

Lagos had a massive head start in infrastructure na

Ok why haven't Anambra passed Ogun State?

Perfectbeing:
Ok why haven't Anambra passed Ogun State?

Anambra has bigger GDP than Ogun

Perfectbeing:
Let me ask you something. Why is Alex Otti borrowing of 400bn to invest in capital projects which is infrastructures?

Abia has al already developed human capital

Kukutenla:

Crap.
Awolowo's regime did not have poor education. The education compared favorably with British standards where basic education is free to this day. Even in the US, Canada and China free education exists only up to high school level. So your point 1 is utterly wrong.
Govt did not run business directly during Awolowo's time. What they had was marketing boards which are equivalent of commodity exchanges. The farms were privately owned by the farmers and they paid taxes and royalties on their produce.
Infrastructure CAN kick-start economic growth. That it has failed to in the era of Buhari is due to his poor management, lack of vision and capacity and corruption. I already gave you an example of FDR and the Marshall plan. Another one is that of the infrastructure renewal projects in countries like India, Brazil etc
Besides, while you're making a case for giving small business money directly to run, you conveniently forget that this same administration actually did that with anchor borrower's program and NIRSAL. How did that end if I may ask? Where are the burgeoning rice businesses the private guys who got the money started?

Even today as Egypt (that Obi went to study) is trying to kick start their economy it's infrastructures they're investing in on of which most of it is from loans. Egypt is currently in over $150bn debt and most of it is on infrastructures.

Perfectbeing:
You're wrong.
Imagine Obj invested that $16bn in the AKK gas PMB started.
Nigeria would have been able to competing with Russia today on gas and we would have been making mad revenue.

I am going to barge in here.... you know AKK gas won't be classified as infrastructure right? Thats purely an industry with capital gains that would have helped our economy massively.

It is better to borrow money to either fund HDI or build industries rather than gigantic infrastructure that has no immediate impact on our economy with loans. Let's be realistic with his point on this particular matter "it is stupid to borrow morning for large infrastructure without immediate impact in the profit and revenue sector of our economy", thats exactly why we fell off in the 90's and we are still where we are till today. This is a deep topic and we must look beyond the surface to provide meaningful solution to it or else in the next 100 years we will still face the same problem.

The emergence of current China does not revolve around borrowing to finance capital infrastructure it was based on the designation of draconian effective HDI method to yield maximum economic output overtime, so therefore Europe Marshall plan is not the only viable way to achieve resurgence economy plan when everything is stalled or regressing.

Look further into my point up here and see what other solution manual can be rendered to our failing economy without borrowing to sustain infrastructure that won't bring immediate profit.

I will like you to discuss further from a possible solution perspective thanks

Perfectbeing:
Obi did well in HDI, Fashola did well in infrastructures. Today which of the states attracts the most investments?

Sorry, but Obi didn't do well in HDI during is tenure, he later gain knowledge and intelligence about it very recently that I can assure you. No Nigeria past leader has effectively focus on utilizing our HDI in our history except maybe Awolowo policy for the western region which was done partially.

Nigeria has never for once focus on its citizen and thats why we are where we are today.

mrvitalis:

Abia has al already developed human capital

Meaning Ikpeazu wasn't as useless as y'all made him

ABBkelvin:

I am going to barge in here.... you know AKK gas won't be classified as infrastructure right? Thats purely an industry with capital gains that would have helped our economy massively.

It is better to borrow money to either fund HDI or build industries rather than gigantic infrastructure that has no immediate impact on our economy with loans. Let's be realistic with his point on this particular matter "it is stupid to borrow morning for large infrastructure without immediate impact in the profit and revenue sector of our economy", thats exactly why we fell off in the 90's and we are still where we are till today. This is a deep topic and we must look beyond the surface to provide meaningful solution to it or else in the next 100 years we will still face the same problem.

The emergence of current China does not revolve around borrowing to finance capital infrastructure it was based on the designation of draconian effective HDI method to yield maximum economic output overtime, so therefore Europe Marshall plan is not the only viable way to achieve resurgence economy plan when everything is stalled or regressing.

Look further into my point up here and see what other solution manual can be rendered to our failing economy without borrowing to sustain infrastructure that won't bring immediate profit.

I will like you to discuss further from a possible solution perspective thanks

At least the Marshall plan was one way for Europe to stand on their feet even though it's not the only way.

Also countries like Egypt is another example that's investing heavily on infrastructures to stand on their feet and most is done with loans.
Egypt is in over a debt of $120bn

Perfectbeing:
Meaning Ikpeazu wasn't as useless as y'all made him

Abia human capital predates PDP even w

There is a reason akwa ibom, cross river, rivers, bayelsa Delta, Cameroon, Gabon go to aba even with the bad road

mrvitalis:

Abia human capital predates PDP even w

There is a reason akwa ibom, cross river, rivers, bayelsa Delta, Cameroon, Gabon go to aba even with the bad road

Ok.

Perfectbeing:
At least the Marshall plan was one way for Europe to stand on their feet even though it's not the only way.

Also countries like Egypt is another example that's investing heavily on infrastructures to stand on their feet and most is done with loans.
Egypt is in over a debt of $120bn

My brother debt is not the problem here, this is our future as a nation we are talking about here; do you want us to grow or remain empty? International loan is different from internal loan they serve different purpose from an economic perspective.

The main question I am going to ask once again is what should we use our International loan for if we are hellbent on borrowing more and more instead of looking for solution from within? Capital infrastructure or Human development index?

mrvitalis:

Abia human capital predates PDP even w

There is a reason akwa ibom, cross river, rivers, bayelsa Delta, Cameroon, Gabon go to aba even with the bad road

The solution to Nigeria problem is on this particular topic believe me tho only from economic and policy perspective. Seun should launch this thread to Frontpage for more input and view from more nlanders

CC Mynd44

ABBkelvin:

My brother debt is not the problem here, this is our future as a nation we are talking about here; do you want us to grow or remain empty? International loan is different from internal loan they serve different purpose from an economic perspective.

The main question I am going to ask once again is what should we use our International loan for if we are hellbent on borrowing more and more instead of looking for solution from within? Capital infrastructure or Human development index?

Egypt had a total external debt of over $160bn and most are used for infrastructures.

ABBkelvin:

My brother debt is not the problem here, this is our future as a nation we are talking about here; do you want us to grow or remain empty? International loan is different from internal loan they serve different purpose from an economic perspective.

The main question I am going to ask once again is what should we use our International loan for if we are hellbent on borrowing more and more instead of looking for solution from within? Capital infrastructure or Human development index?

Egypt had a total external debt of over $160bn and most are used for infrastructures.

I am glad more and more people are seeing through this fake economist MrVitalis propaganda of foreign salvation, imports, devaluation and Structural Adjustment.

All the loans given to empower individuals, foreign companies, Zimbabwe farmers, money launderers, political cronies and other connected people to power:

How much of it has grown the economy?

If anything, they all stifle infrastructure and economy. Just examine the costs of big and small projects in neighboring countries compared to Nigeria. Even roads, find out the cost of one kilometer, as if they are paved with gold, compared to anywhere in the world.

Their reason for inflated cost: they have to import what can be produced as finished goods in Nigeria. Yet, they are willing to export raw materials.

Every single day, Prof. Wole Soyinka is just being confirmed a genius for his pronouncement that “internet in NIGERIAN's space has only raised a legion of educated illiterate” those who can't relate the education they got at school with the reality in their immediate and remote environment. So sad.
Imagine the rubbish this little dvllard had the effontery to put on the internet. I shudder to think of what the future holds for the leaders of tomorrow we're raising today with this kind of mindset, poor IQ, and intolerance for the acquisition of hidden knowledge.

PHAYOL81:
Every single day, Prof. Wole Soyinka is just being confirmed a genius for his pronouncement that “internet in NIGERIAN's space has only raised a legion of educated illiterate” those who can't relate the education they got at school with the reality in their immediate and remote environment. So sad.
Imagine the rubbish this little dvllard had the effontery to put on the internet. I shudder to think of what the future holds for the leaders of tomorrow we're raising today with this kind of mindset, poor IQ, and intolerance for the acquisition of hidden knowledge.

Soyinka is a doddering, half-senile goat

You can súck his shriveled cock all you want it's not gonna bring him back to his prime

NewDea4:


Soyinka is a doddering, half-senile goat

You can súck his shriveled cock all you want it's not gonna bring him back to his prime

LOL. But then, he rightfully sits at that height all educated IGBOS （dead or alive）dream（t） everyday to attain.

I understand your frustration though