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Re: Solution to the Nigerian Economy by gohome: 3:29pm On Jan 22, 2016 |
IyaIode: Read this and recalculate
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Re: Solution to the Nigerian Economy by InvertedHammer: 3:30pm On Jan 22, 2016 |
baralatie:/ He is already in the car, checking the fuel guage and requesting fuel. But naysayers are shouting at him to move the damn car forward. Oil is heading back up to $80/barrel. Once bitten, twice shy. If they like, let them keep partying like change is not constant. \ 1 Like |
Re: Solution to the Nigerian Economy by gohome: 3:37pm On Jan 22, 2016 |
9jatriot: Farming alone doesn't cut it. Processing farm produce is the solution. I will put it simply, any economy that depends only resources (farming crude oil etc) will never be advance 2 Likes 1 Share |
Re: Solution to the Nigerian Economy by CHYMZZY(m): 3:37pm On Jan 22, 2016 |
Standing5: Money has been stolen, we all know that it a status quo to and among our ruling class. Right from inception top government official have been stealing from the national pocket, even till late. must we keep on chase shadows were their are other challenging and battling problem facing us. The problem we have in this country is WE! if we don work together as one body unlike our head c0- ordinate other parts of the body, we wont be able to achieve anything . Is not as if we dnt have a good and enabling policy in Nigeria that will bring that developmental change we quest for, but we have more of greed people and saboters more than the good people. whatever we are suffering now is a self inflicted injury. from insecurity to lack of infastructural facility to high unemployment rate to dullard youths to greedy top government official. 1 Like |
Re: Solution to the Nigerian Economy by Nobody: 3:49pm On Jan 22, 2016 |
gohome: I am on mobile, so can't read the illustration, tell us how many liters of petrol are in a barrel of crude |
Re: Solution to the Nigerian Economy by Nobody: 3:52pm On Jan 22, 2016 |
gohome:exactly my point our meagre $40bn economy is poor. if the cost of 1gigawatt is $1bn. then .... |
Re: Solution to the Nigerian Economy by Nobody: 3:54pm On Jan 22, 2016 |
gohome even our useless refineries produce 6 million ltrs a day. I am interested in your calculations. www.premiumtimesng.com/business/196250-nigerian-refineries-now-produce-6-7-million-litres-of-petrol-daily-nnpc.html |
Re: Solution to the Nigerian Economy by Lamasta(m): 3:57pm On Jan 22, 2016 |
I will make sure I sack, remove or delete Min of Info Liar Mohammed cos Nigerians don`t belive in any info he pass accross again and will replace him with Maupe Ogun of Channels tv, I will also sack Min of Finance Kemi Adeosun she is abig time illitrate in finance duty and will replace her with Chukwuma Soludo the Prof with extraordinary brain to redrawn the map and policy of Nigeria`s economy within 24 hours, I will also remove CBN Gov Emefiele the man is an economic retardeen I will replace him with My mother cos she`s a better economist even if she has no degree in economics she knows what to do to make Dollar less valuable to the naira, I will also remove Minister of transport Rotimi Amaechi cos he`s a thief that needs to be stoned according to his word and will replace him with overall president of the NURTW cos he knows much about transportation using road as yardstick and his deputy will be a technocrat in other transport sector to balance the equation, Finally I will drop a letter for Buhari WARNING him not to change what I did and also if He at anytime needs advice he should call on me I will tell him what to do..... With these changes achievement of mine within 24 hours Nigeria`s economy will revatilize quickly and the citizens will start feeling the original change they have been craving for........ |
Re: Solution to the Nigerian Economy by jmslimx(m): 3:59pm On Jan 22, 2016 |
Nice Post OP I haven't posted anything on NL for long because Alot of youth turned themselves into what i cant explain ... with no research ... just google it!!!... First The economy is in shambo , the budget is a fraud you cant survive with such budget , When people keep blaming past government i laugh because you cant fight corruption when you still have same laws that harbors corruption and getting bail doesn't mean you have returned the money. No country at this era can survive the way oil is going down without looking into other areas like Agriculture , Research , tourism and other minerals. Russia and saudi had a budget bench mark projection of 30-50 but since the price keeps going down and iran coming into the physical scenario most have gone back to get their bench mark for 18-27 as projections. Nigeria can survive it if they take some steps like Agriculture , Powering Small business through SME but should be done at interest rates of 4-10% because if a small business gets loan and pays 24% how do you make profit and how would you employ people , government can restructure the SME which is currently Zero since this administration took over , at least i know 2-3 Ywin from past administration , as small business boast any economy more than Big companies which would also curb out unemployment ... because it more-less like we have no middle class anymore. I advice the president to look at Modi The PM of India what he did to curb stolen money , In india they have what they call black money , Indians are more corrupt than Nigerians especially evading taxes and stealing government money , he traveled to swiss and held a meeting with Indians and swizz government , they give this corrupt politicians time frame to bring back the money , by imposing 30-35% capital tax for the government and this money Most be used for capital Projects , Back in 2009-2011 delhi had no much infrastructures , but now alot of sky scrapers and good roads and people are still returning it while is trying to get capital punishment for politicians who steal government money . You cant win corruption with same law and structure which this people still use.. True federalism will still remain the answer to major Nigeria problems. We need more money to pumped into Education , Research , industrialization this is what grows any country to meet up the world top nations I still believe in Nigeria , But we as youth need to come with one voice and get this old men ruling us since 1960 out of the chair 2 Likes |
Re: Solution to the Nigerian Economy by mrvitalis(m): 3:59pm On Jan 22, 2016 |
kayfra:We need money to run the government.. .. Agriculture produce fast money.. . And the LNG is a success story |
Re: Solution to the Nigerian Economy by gabicon: 4:06pm On Jan 22, 2016 |
What we need is to stop the names calling and put our brains to work. I was born into a country with epileptic social infrastructure and my children are most likely going to be born in same state, this is an indication that I've existed but not lived to create a difference for my yet unborn generation. The past is gone with its irresponsible leadership we are in today going to tomorrow and we can make a difference if we have the will and decide to work hard. Firstly we need to cut government spending I suggest we the people initiate a 75% cut on political office spending, how will this be done? There is a call back clause for senators and honourables, if they refuse let's call them back home, when a few are called back the others know we mean business. Secondly investing in agriculture each local government should have modern farming tools that can be rented to farmers to farm. And the products sold outside and inside the country. We can forces on cash crops to sell outside the country. Investing in mining, we got too many natural resources wasting in the ground. We also need to revamp our manufacturing sector to process all we mine and grow, there by adding value to raw material. Deep sea fishing is also a lucrative venture. This things take time to grow but best time to grow an apple tree is 10 years ago, the next best time is now. We cut cost, invest the cut, and gain profit in the future. 1 Like |
Re: Solution to the Nigerian Economy by baralatie(m): 4:11pm On Jan 22, 2016 |
InvertedHammer:You back to what I am saying "Pmb in a car with fuel and up to date working systems is screaming "no fuel" Haba!! |
Re: Solution to the Nigerian Economy by kayfra: 4:11pm On Jan 22, 2016 |
mrvitalis: We need agriculture fast but governments are the worst business managers. They will turn it to another bureaucracy and it will get ran down. Let government give incentives to business men interested in farming so they can run it profitably. Areas where government can help: 1. Low interest loans for farmers 2. Access to cheap forex for any farmer willing to import processing machines and equipment for mechanized farming 3. Creation of trading boards so the farmers can have easy Avenue to export and earn forex 4. Training farmers on latest farming practices and trends 5. Banning imports of any agricultural products we can grow here. Total ban. 6. Give easy access to fertilizers 7. Creating standards boards to make sure our produce meets export standard Etc etc |
Re: Solution to the Nigerian Economy by CHYMZZY(m): 4:18pm On Jan 22, 2016 |
The remedy to succor dewindling and off balance system in Nigeria is to start something on our own. ●A good mechanize Agriculture will boost our economy,their by creating employment opportunity. ● We have lots of natura/mineral resourses other than the crude oil. lets harness them and place less dependant crude. ● No country grow or succed more than its contemporaies without innovation. Talking about the national academic system wether they are fortified with the right equipment to raise innovators. ● A good running politcal system is a true way to a good national affairs. Having a good opposition party to construct a good critizem against the ruling party, helps to put and shapen politcal affairs.(:not politicians in PDP migrating to APC like SIM SWAPP for national moi-moi.) ● For us to move forward we must have a better understanding about our religion and also respect our cultural /tribal ethics irŕespective of our difference. No country grow socially without repect for these. ● ●→□■◇◇◆♧♣★☆→←↓↑◀▶▼▲:O:-D;-):-)▪€£₩%~`¤♡♥_\|《》¡¿ , |
Re: Solution to the Nigerian Economy by baralatie(m): 4:20pm On Jan 22, 2016 |
kayfra:Not so fast |
Re: Solution to the Nigerian Economy by kayfra: 4:23pm On Jan 22, 2016 |
baralatie:Biko? |
Re: Solution to the Nigerian Economy by doplove(m): 4:24pm On Jan 22, 2016 |
Standing5: @Standing5, if you are truly patrotic about Nigeria you'll be more concerned on how to get Nigeria right. It's quite clear to me why it'll be very difficult to restore Nigeria to it's lost glory because of our general (political, ethnic, greed, myopic, etc.) bias. I weep for my country.......the land flowing with milk and honey. |
Re: Solution to the Nigerian Economy by mekonglobal(m): 4:31pm On Jan 22, 2016 |
Nice one op i hv been look forward for a thread like dis, for some time now, Nigeria is in great economic mess and it needs help. Just like d op solicited here, d presidency should quit dis blame game and get down to work. Nevertheless there is still hope for d future with wat i just read here. D issue now is, will those in power be to able think outside the box or even extend d scope of their search for a solution down here |
Re: Solution to the Nigerian Economy by gohome: 4:31pm On Jan 22, 2016 |
IyaIode: 25% crude = PMS 1 bbl = 159 liters 25% of 159 liters = 40 liters In other words 40 liters of PMS/gasoline can be gotten from a barrel of crude. So, 40 X 600,000 = 24,000,000 liters No plant, factories, engineering structure etc is built to operate at 100 percent capacity. Unless you want to run it to the ground. Most average at about 50-60 percent capacity. Extremely effective once can go up to 80% Again 60 % of 24,000,000= 14,000,000 liters Also production rate is different from consumption rate. What I mean is that if you produce 1 liter, it doesn't just appear in you car. Some are trapped in technical and logistical issues. Well organized companies with state of the art logistics and superb infrastructure (rail) have what we call 0.8 factor. What it means is that for every liter you produce, 0.8 liters are felt directly by the consumers and 0.2 are just on their way. If you multiply this factor to the equation you will have 0.8 X 14,000,000= 11.5 million liters These are average figures and not very optimistic. Nigeria is not known to be very efficient so that's why I think the average figures are more realistic. Thank you for contributing to the thread. We need people like you in this forum. Peace 1 Like |
Re: Solution to the Nigerian Economy by baralatie(m): 4:40pm On Jan 22, 2016 |
kayfra:Some of your suggestions are in place but agricultural development is a plan and plan are Short,medium and long! What this administration needs is a good economic team that can Plan,design eco models of growth and deliver growth! For example,what are the present challenges a,dollar income b,petroleum products needs c,power needs d,rice wage import bill e,road infrastructure f,employment g,GDP economic growth! Even with this small highlight,it is rather uncalled for that PMB administration is giving excuses |
Re: Solution to the Nigerian Economy by kayfra: 4:45pm On Jan 22, 2016 |
baralatie: They are in place but what is the track record of its execution? All our infrastructural deficits will not dissappear overnight so no need to formulate stuff when there are plans to fix them. Main issue now is execution and for that we need a serious and commited government. The interim solution before everything falls in place is going back to reliable Keynesian economics. Government spending on development projects and the reason I support borrowing as long as it's not for recurrent expenditure. |
Re: Solution to the Nigerian Economy by Nobody: 4:47pm On Jan 22, 2016 |
gohome: You are so wrong When we refine a barrel of crude oil of 42 gallons or 159 litres, we get products as follows: gasoline or PMS (19.4 gallons or about 73 litres which is about 47 percent), Kerosene or Jet fuel (10 percent), diesel and heating oil (23 percent), propane 4 percent, asphalt 3 percent, other products www.vanguardngr.com/2015/05/petroleum-sector-what-buhari-must-know-about-subsidy-refining-and-the-transparency-question/ |
Re: Solution to the Nigerian Economy by Nobody: 4:50pm On Jan 22, 2016 |
https://www.quora.com/How-many-liters-of-petrol-are-produced-from-one-barrel-of-crude-oil There are about 20 gallons of pms in a barrel. beside dangote refinery has total capacity of 650,000 bpd, i purposely left out 50,000 because i know it wont operate 100% |
Re: Solution to the Nigerian Economy by baralatie(m): 4:58pm On Jan 22, 2016 |
kayfra:It is not "development" projects.it is "road" and rail projects(linking). But have you seen PMB budget spending,very somehow! Agric is not seen as a game changer in his eco outlook I have not touched solid mineral and its alied industries |
Re: Solution to the Nigerian Economy by kayfra: 5:04pm On Jan 22, 2016 |
baralatie: Roads, which fall under infrastructure is still considered development projects. Workers will be hired and economy will improve due to a better transportation network. We can ship goods cheaply and more efficiently, thus, reducing waste and cost. US interstate highways is one of the catalyst for their supergrowth. To be honest I have not paid attention to what was budgeted for agriculture. I believe we'll get better execution for such in the state level. States understand their terrain and people more than the federal government. In theory, states should also be more efficient with funds than federal government. I would be shocked if they do not continue with Adesina's policies. |
Re: Solution to the Nigerian Economy by lilreese: 5:05pm On Jan 22, 2016 |
Mr finance minister |
Re: Solution to the Nigerian Economy by mrvitalis(m): 5:07pm On Jan 22, 2016 |
kayfra:NLNG has proven that government don't need to run a business they own majority of That's what am talking off Government need to invest money... companies run the business for them and they audit it That's will ensure fast money to run the government.. .. Clear the government dept the private companies can then buy off the farms |
Re: Solution to the Nigerian Economy by kayfra: 5:16pm On Jan 22, 2016 |
mrvitalis: I am a capitalist to the core. I don't believe in the government running businesses aside from anything to do with national security and federal agencies. Businesses should be ran by efficient entrepreneurs and government should create a level playing field using government instruments and agencies to keep them in check. NLNG is not an effective model. We are still flaring gas like no tomorrow, something an entrepreneur would have used to cure our energy deficit. 1 Like |
Re: Solution to the Nigerian Economy by gohome: 5:21pm On Jan 22, 2016 |
IyaIode: You are being to optimistic. In project management, there is what we call P10, P50 and P90 models. Most managers use the P50 models ( average) to plan, some even use P10. My P50 model analysis is what I provided to you. That said, we seem to want the same thing ( increased in house refining capacity). Why I want more refineries, you want one single mega refinery. |
Re: Solution to the Nigerian Economy by asamaigho(m): 5:56pm On Jan 22, 2016 |
Standing5: good one...kudos. anybody faulting buhari on our current "economic woes" is either disillusioned or economical with d truth. i see no reason why we shouldnt have morethan 3refineries,pdp wasted hundreds of billion dollars importing pms alone,wen a refinery would cost not morethan 10bn dollars,...by now we would have had enuf pms to cater for our domestic consumption and also to export to other westafrican countries atleast. Thailand is making alot of money from their rice export to nigeria,wen we could have improved on "ofada and ekpoma rice" Textile industry in nigeria is in "economic LIMBO", THE TRUTH B TOLD, THE PDP WAS A CURSE TO NIGERIA,THEY HAD NO PLANS FOR NIGERIA apart fron "shiaring d money" |
Re: Solution to the Nigerian Economy by asamaigho(m): 6:06pm On Jan 22, 2016 |
mrvitalis: cant b said beta. we really need to do something about d agric sector. seedlings is a important part we must research on. d livestock industry is not doing bad,dats y we dont import cow meat from europe,i just hope we can replicate such in arable farming. |
Re: Solution to the Nigerian Economy by asamaigho(m): 6:11pm On Jan 22, 2016 |
tuniski: even at $38pb bechmark OIL CONTRIBUTES LESS THAN 15% OF D 2016 BUDGET ,.....so we r in d right direction,atleast a deviation from d norm. |
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