I just want to ask a question. the SS sure lays the golden egg in Nigeria. However, Oil prices are becoming incredibly low of recent with no signs of improving. This invariably means a serious decline in oil revenue.

What will now be our golden egg and from where will it come?

san316:
I just want to ask a question. the SS sure lays the golden egg in Nigeria. However, Oil prices are becoming incredibly low of recent with no signs of improving. This invariably means a serious decline in oil revenue.

What will now be our golden egg and from where will it come?

Nigeria has so many golden eggs eg

Agriculture

Mineral Resources

Manufacturing

Human Resources

Tourism

Etc


What is hindering our national development is absence of True Federalism.

EasternLeopard:


Nigeria has so many golden eggs eg

Agriculture

Mineral Resources

Manufacturing

Human Resources

Tourism

Etc


What is hindering our national development is absence of True Federalism.

Do u not think it is now high time we started working on those sectors and ignored oil revenue? for Gods sake, our budget is still based on oil benchmark

san316:


Do u not think it is now high time we started working on those sectors and ignored oil revenue? for Gods sake, our budget is still based on oil benchmark

Its time we enthrone true federalism

When each State and LGA is encouraged to keep 50% of whatever is generated within her territory, they will br forced to develop their golden eggs transforming our economy to that filled with golden eggs.


We can start by insisting that 20% of all royalties and taxes generated within a State stays with the state.

Then this 20% should be increased by 1% every year until it gets to 50%.

This will take 30years which is enough time for all States to adjust themselves.

The issue is how will the revenue from these new golden eggs be shared , oil revenue was shared with 13% given to the Niger delta states as host states.For manufacturing, agriculture and services what will the hosts state get , what will Niger delta get and will population still be a parameter in the distribution of other people's wealth , what happens to the jokers who became over night billionaires no thanks to the Niger Delta oil wealth.

Will the hardworking igbo trader part with his profit to be used on some almajiri or will the hardworking northern farmer use his wealth for the repair of third mainland bridge , will other Nigerians allow their company headquaters based in lagos to be milked by the lagos government in the name of annual registration fees and multiple taxation, will the hard working igbo importer allow Area boys to extort money from his boys when a container lands in lagogs all in the name of settlement

Oil still remains our golden egg even at the current low price. No other sector or industry can give the country that much revenue without much stress. Besides, the current downtrend is only temporary.

The only golden eggs that we need are the brains that God has given us. China, Japan, South Korea, Singapore, Malaysia etc. All those countries have no considerable natural resources. How did they manage to become economic success stories? By using their God given brains. Human resources is all we need nothing more. In my opinion every state should control their own natural resources and only need to pay taxes to the center. The federal government should begin to focus on developing human resources and policy.

J12:
Oil still remains our golden egg even at the current low price. No other sector or industry can give the country that much revenue without much stress. Besides, the current downtrend is only temporary.

Wrong

Other sectors if fully exploited will dwarf oil wealth.

The solution GEJ is applying is diversification method based on FG effort which is partially right but will be completely right if States and LGAs are rewarded with a greater % as FG hands off to become beneficiary of the other % once the rest is shared between FG States and LGAs

babadee1:
The only golden eggs that we need are the brains that God has given us. China, Japan, South Korea, Singapore, Malaysia etc. All those countries have no considerable natural resources. How did they manage to become economic success stories? By using their God given brains. Human resources is all we need nothing more. In my opinion every state should control their own natural resources and only need to pay taxes to the center. The federal government should begin to focus on developing human resources and policy.

God bless you

In the 1950s and 1960s

Nobody heard the words Economic Diversification because each region depended on their own resources which they developed as a result of the national fiscal system we operated

kettykin:
The issue is how will the revenue from these new golden eggs be shared , oil revenue was shared with 13% given to the Niger delta states as host states.For manufacturing, agriculture and services what will the hosts state get , what will Niger delta get and will population still be a parameter in the distribution of other people's wealth , what happens to the jokers who became over night billionaires no thanks to the Niger Delta oil wealth.

Will the hardworking igbo trader part with his profit to be used on some almajiri or will the hardworking northern farmer use his wealth for the repair of third mainland bridge , will other Nigerians allow their company headquaters based in lagos to be milked by the lagos government in the name of annual registration fees and multiple taxation, will the hard working igbo importer allow Area boys to extort money from his boys when a container lands in lagogs all in the name of settlement

Gbam

True federalism is the way forward

EasternLeopard:


Wrong

Other sectors if fully exploited will dwarf oil wealth.

The solution GEJ is applying is diversification method based on FG effort which is partially right but will be completely right if States and LGAs are rewarded with a greater % as FG hands off to become beneficiary of the other % once the rest is shared between FG States and LGAs

Mention a sector that is capable of generating more revenues than the oil and gas sector?

EasternLeopard:


Nigeria has so many golden eggs eg

Agriculture

Mineral Resources

Manufacturing

Human Resources

Tourism

Etc


What is hindering our national development is absence of True Federalism.

^^^Spot on!

J12:


Mention a sector that is capable of generating more revenues than the oil and gas sector?

Very easy. Manufacturing is one. The entire Chinese economy rests on manufacturing and they are almost catching up with US in terms of the size of their economy. Another example is IT. That is the backbone of the Indian economy today and they're doing very well.

J12:


Mention a sector that is capable of generating more revenues than the oil and gas sector?

See the word I used

Other sectors

That is to say collectively they will dwarf the oil and gas sector


Eg Manufacturing and Agriculture if fully developed and exported, the earnings that will be realised will surpass oil and gas

Japan makes more money from manufacturing than Nigeria makes from oil and gas

Malaysia makes more money from palm oil sales ALONE than we make from oil and gas. Now imagine if other agricultural products are fully developed in that country and what it will be contributing.

babadee1:


Very easy. Manufacturing is one. The entire Chinese economy rests on manufacturing and they are almost catching up with US in terms of the size of their economy. Another example is IT. That is the backbone of the Indian economy today and they're doing very well.

Good


All wealthy nations are industrialized and agriculturalized nations

The AD people have been very gracious to Nigeria. Even when oil drops to $10, the region will still be accorded special recognition and economic concentration. However people like the hapless Jonathan and is band of billionaire militants and oil thieves must be voted out and utterly destroyed first.

EasternLeopard:



See the word I used

Other sectors

That is to say collectively they will dwarf the oil and gas sector


Eg Manufacturing and Agriculture if fully developed and exported, the earnings that will be realised will surpass oil and gas

Japan makes more money from manufacturing than Nigeria makes from oil and gas

Malaysia makes more money from palm oil sales ALONE than we make from oil and gas. Now imagine if other agricultural products are fully developed in that country and what it will be contributing.

True talk. And do you know that at independence Malaysia did not know anything about palm oil? They came to Nigeria in 1960 to learn about palm kernel farming and palm oil processing. Today they are number one in the world in producing palm oil and they make more money from it than we make from crude oil. Which way Nigeria?

babadee1:


True talk. And do you know that at independence Malaysia did not know anything about palm oil? They came to Nigeria in 1960 to learn about palm kernel farming and palm oil processing. Today they are number one in the world in producing palm oil and they make more money from it than we make from crude oil. Which way Nigeria?

The estimate is believed to be btw 3 to 10 times our earnings

True federalism is what GEJ should focus on

He should go to the national assembly and convince them


How I wish God can help me get in touch with him to help him draft the plan and presentation

J12:


Mention a sector that is capable of generating more revenues than the oil and gas sector?

^^^It would be a combination of the following: agriculture (throughout the entire value chain), tourism, manufacturing, construction, money market, entertainment (music and nollywood), and software design/internet!

If all these are promoted robustly, with all participants getting their due for the effort put in (without others getting jealous and wanting a cut of the rewards as they sit on their butts doing nothing); if this happens then receipts from oil will just become djara.....the icing on the cake!

Adminisher:
The AD people have been very gracious to Nigeria. Even when oil drops to $10, the region will still be accorded special recognition and economic concentration. However people like the hapless Jonathan and is band of billionaire militants and oil thieves must be voted out and utterly destroyed first.

What APC should be canvassing for should be true federalism and not all this trash on socialist welfare based on ND oil.

IGBOSON1:


^^^It would be a combination of the following: agriculture (throughout the entire value chain), tourism, manufacturing, construction, money market, entertainment (music and nollywood), and software design/internet!

If all these are promoted robustly, with all participants getting their due for the effort put in (without others getting jealous and wanting a cut of the rewards as they sit on their butts doing nothing); if this happens then receipts from oil will just become djara.....the icing on the cake!

Gbam

Oil will just be jara like the case of Texas in America

babadee1:


Very easy. Manufacturing is one. The entire Chinese economy rests on manufacturing and they are almost catching up with US in terms of the size of their economy. Another example is IT. That is the backbone of the Indian economy today and they're doing very well.

Thanks for pointing the manufacturing sector. However, we should be realistic about this, it is virtually impossible for Nigeria to have a manufacturing sector that would be capable of earning us over fifty billion dollars of foreign exchange annually in the next twenty years.

The same can be said about ICT.

Oil and Gas is our golden sector and it will remain that way for years to come. Our oil and gas sectors are not even properly developed and they earn us this much. Forget about it bro.

I guess the gun powder we all thought would destroy nigeria ( tribalism, religion is only waiting for that golden egg to have insufficient power to run the country economically and each party call it quits.

IGBOSON1:


^^^It would be a combination of the following: agriculture (throughout the entire value chain), tourism, manufacturing, construction, money market, entertainment (music and nollywood), and software design/internet!

If all these are promoted robustly, with all participants getting their due for the effort put in (without others getting jealous and wanting a cut of the rewards as they sit on their butts doing nothing); if this happens then receipts from oil will just become djara.....the icing on the cake!

My brother, you are merely dreaming. Nigeria is not capable of developing these sectors to enable them reach that mega capacity where they will be able to earn us billions of dollars.

J12:


Thanks for pointing the manufacturing sector. However, we should be realistic about this, it is virtually impossible for Nigeria to have a manufacturing sector that would be capable of earning us over fifty billion dollars of foreign exchange annually in the next twenty years.

The same can be said about ICT.

Oil and Gas is our golden sector and it will remain that way for years to come. Our oil and gas sectors are not even properly developed and they earn us this much. Forget about it bro.

Guy believe me, if Nigeria does not begin to diversify now and look for alternative revenue streams there will be no Nigerian economy in the next twenty years. The whole world is trying to move away from oil and fossil fuels generally. Our biggest customer U.S. has already cut us off because they are producing plenty of their own oil and gas now. The way things are going within ten years we will have to start drinking that our oil. Something radical has to be done and fast. If we start now maybe we will be ready for a new economy in twenty years time.

J12:

Thanks for pointing the manufacturing sector. However, we should be realistic about this, it is virtually impossible for Nigeria to have a manufacturing sector that would be capable of earning us over fifty billion dollars of foreign exchange annually in the next twenty years.
The same can be said about ICT.
Oil and Gas is our golden sector and it will remain that way for years to come. Our oil and gas sectors are not even properly developed and they earn us this much. Forget about it bro.

Its possible

How

1)Decentralize Electricity in other words power generated in a state do not need to be sent to the national grind but straight to the consumers within the state.

2) Encourage industrial entrepreneurship

3) Discourage importation by financing the establishment of those foreign industries whose products we import.
Eg Techno LG Samsung etc.


But remember this thing will be achieved faster through true federalism

Adminisher:
The AD people have been very gracious to Nigeria. Even when oil drops to $10, the region will still be accorded special recognition and economic concentration. However people like the hapless Jonathan and is band of billionaire militants and oil thieves must be voted out and utterly destroyed first.

Infact as it stands if those militants goes back to the creek, nigeria can not survive anoda year with oil this low. One thing is sure the USA would continue to push for its own oil production which means prices are xpected to go down. We should all be careful. APC might rule a fragmented nigeria. And I know the west will not want to carry the burden called north if we split up. Assuming SS and SE go der seperate ways or they merge.

J12:


My brother, you are merely dreaming. Nigeria is not capable of developing these sectors to enable them reach that mega capacity where they will be able to earn us billions of dollars.

In the 1950s and 1960s, every sector was receiving attention which brought Nigeria to limelight.

This was possible because of the fiscal federalism we practiced then

If Ironsi had not ignorantly abolished it for unitary system, Nigeria would have transformed into a first world nation.

bossmini84:


Infact as it stands if those militants goes back to the creek, nigeria can not survive anoda year with oil this low. One thing is sure the USA would continue to push for its own oil production which means prices are xpected to go down. We should all be careful. APC might rule a fragmented nigeria. And I know the west will not want to carry the burden called north if we split up. Assuming SS and SE go der seperate ways or they merge.

Gbam

Once GEJ leaves that power without the implementation of TRUE FEDERALISM Militancy will resume and Nigeria will collapse financially

babadee1:


Guy believe me, if Nigeria does not begin to diversify now and look for alternative revenue streams there will be no Nigerian economy in the next twenty years. The whole world is trying to move away from oil and fossil fuels generally. Our biggest customer U.S. has already cut us off because they are producing plenty of their own oil and gas now. The way things are going within ten years we will have to start drinking that our oil. Something radical has to be done and fast. If we start now maybe we will be ready for a new economy in twenty years time.

Oil remains the golden egg till diversification begins to take place. We will still be able to sell our oil and gas resources. Global energy demand is very high as emerging economies become more industralized, they need energy.

The Nigerian economy is already diversified (although some sectors are yet to emerge and develop properly). Full development of viable revenue earning sectors will be very difficult because we dont have the resources and systems to enable the growth.
All we have now is oil, we should use it well. That should be our priority.

J12:


Oil remains the golden egg till diversification begins to take place. We will still be able to sell our oil and gas resources. Global energy demand is very high as emerging economies become more industralized, they need energy.

The Nigerian economy is already diversified (although some sectors are yet to emerge and develop properly). Full development of viable revenue earning sectors will be very difficult because we dont have the resources and systems to enable the growth.
All we have now is oil, we should use it well. That should be our priority.

To be frank

The days of oil is going.

Unknown to Nigeria, India our biggest customer is searching for oil and may see very soon in commercial quantities


We need this below

babadee1:

Guy believe me, if Nigeria does not begin to diversify now and look for alternative revenue streams there will be no Nigerian economy in the next twenty years. The whole world is trying to move away from oil and fossil fuels generally. Our biggest customer U.S. has already cut us off because they are producing plenty of their own oil and gas now. The way things are going within ten years we will have to start drinking that our oil. Something radical has to be done and fast. If we start now maybe we will be ready for a new economy in twenty years time.

If every region fends for itself Nigeria will develop faster