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Peter Obi election campaign was an eye opener. Simply move the economy from consumption to production. He gave statistics of what other countries of relative size and state to Nigeria are earning from foreign exchange and how low Nigeria earns. He projected what he will do in each states and regions to boast productivity but Nigeria decided to vote for somebody who said nothing and projected nothing. We are reaping the rewards of our decision.
The majority of Nigerians didn't vote for Tinubu and the APC. If Nigerians truly voted for the APC after 8 destructive years of Buhari, means that many Nigerians are not just illiterate but also stupid. The 2023 general elections were rigged in favour of the APC by the INEC & the Judiciary.
This is so true. When I came to England, single trip bus fares ranged from 4 to 4.50 pounds. Today in Nottingham where I live, bus fares are subsidised and is pegged at £2 flat rate. Note this is England that was in recession as of the 3rd quarter of 2023. Africa is truly enslaved by the western tools of World bank and IMF.
The truth is that we have incompetent and corrupt minded people in charge of government who are clueless about governance. Does anyone truly believe that a political party that rigged elections into power, means well for the people of the country?
Reality was our subsidies had been focused on consumption. It only make sense that savings be focused on education, health, agriculture, infrastructure and financing ... Capacity to produce depends on these ...
Why is the world bank so entrenched in Nigeria economic policies? It's true that this government has no solution to our economic which is caused by the government itself. Why are they interested in unleashing suffering to millions of Nigerians? Why is the world bank active in Nigeria?
World Bank, UN, IMF etc are all instruments of the West to subdue so called developing countries that are stupid enough to take their money. Mind you, they are preparing another loan for us .. which their puppets in power are going grab.
You are right my brother to make your people comfortable does not require you to be a professor of economics but sincerity and love for them. We are just bunch of selfish people manifesting in our leaders
That will also encouraged smuggling and we will be back to same point..the solution is for government to fast track power generation and subsidies power which encouraged production..when we start production and reduce importation the exchange rate will come down and all price will come down
This is the same thing Peter Obi was talking about, moving the country from consumption to production since the raw materials are here, make the finished products here in Nigeria and sell to other parts of the world, if the West doesn't want to buy the South Americans and South East Asian countries can buy and we earn foreign exchange and also strengthen our economy and currency.
@@dj_funkytee He made his money by importing goods into the country which he did as a private citizen and he has no obligation to produce in Nigeria if it's not viable for him as a business man, Business decisions are not made with emotions and sentiment hence you lose your money and you can see the results of his wise business decision because he is a millionaire in dollars, Please how did Bola Ahmed Tinubu made his money?
One of the problems is these so-called journalists, either they lack knowledge or are political bias. Peter Obi said " from consumption to production" they all laughed and ridiculed him and up to now, none of them are referring to statements made by Peter Obi. Nigerians are not admitting their mistakes so we will continue to be in this loop of suffering. Most of us like this journalist think that hoping and praying to God will make these Politians do the right thing😢😢😢.
IMF and the WB do not have any interest in the growth of Nigeria. We should never adhere nor take their advise. We should seriously consider dusting up the Monrovia agreement that the professor talked about and possibly localize it's implementation. That's the only way out for our economy now.
Sir, for effective comparative advantage of the Nigeria economy is not far from our Home-grown economy in agriculture. Fuel by oil and gas to transport those outputs of the agriculture to all nukes and crannies of the country. Yes, deregulation of the NNPCL is about taking its shape rationally by allowing other players to invest in oil and gas like the Dangote Refinery. Please 🙏, Sir. Allowing the Nigerians to map out their Home-grown socio-economic development parameters to meet their aspirations is the best way to go. This is a 21st century challenges that we ought to be very aware of meeting its all round challenges in socio-economic development paradigm shift.
No. All it takes is a visionary, fearless leader who will stand up for his country and reject the West. We must be like Mali, Niger even China that resisted the West.
@@eonyeka7393 I agree that is also an option ...but the political class will never allow such leader to come in bc they will lose their relevance...so they will perpetuate themselves....Nigeria is in for a very long ride
Our problem is not restructuring. The problem is that our human and natural resources are exported to the West and Nigeria has been designed to facilitate this arrangement for the benefit of one side only. Once we trade on our own terms, things will change.
Good day, Sir. Is it not the same world bank that brought the Structural Adjustment Programme (SAP) in the 1980s and forced it on the country? What was the outcome of the SAP? We should stop deceiving ourselves by doing the same thing over decades and still expecting a different results? Nigerians and the country doesn't need any input from the World Bank neither IMF whatsoever. Let's revive the traditional home-grown economy of the 1950s, 1960s, 1970s, 1980s and the 1990s before the advent of the 1999 democracy. Let get back to farming, mechanised farming systems, natural resources minerals, mining and exploration of oil and gas based on our own technologies and human resources to move out of those Bretton Wood institutions. The Bretton Wood institutions are not originally intended for Africa, but the European countries. They're planning to desrupt the Nigeria economy by all standards of socio-economic development policy as planned by our intelligentsia. Nigeria government ought to look inwardly not foreign craziness out of blues. Policy of the world bank has never proven successful in any scientific research results not empirical evidence.
Nigerians have outsourced their ability to think to foreigners. Even our govt will be quoting world bank or imf figure, does it mean we don’t have our own figures?
You must produce what you consume, that saving foreign exchange. You must produce to export to earn foreign exchange. But first and foremost where character is lacking to drive the process we are in.a wild goose chase.
The talk is worthless while you have thieves running the system . Nigerian politicians prefer to borrow from the IMF and WB instead of reducing their salaries and allowances. What is happening is deliberate decisions.
I always say this; it is deliberate and not because they're not knowledgeable about that was work for the progress of the nation. They're puppets of the British imperialists
This is why l personally think oil been discovered in Nigeria has been a curse. I remember when l was growing up as a kid in Lagos, Nigeria. Nigeria had cocao, peanuts,rice with some other produce that was sold to the world market. As soon as oil was discovered, everything stopped. In fact, oil production has led to massive corruption in Nigeria.
