ABBkelvin:
exactly what I said in the first paragraph, if you read it again carefully, the solution you also provided is the same solution I provided and I also gave reason while it will be more easier to run it now due to more information and data backup available... where do you have disagreement with my argument precisely?

Like we are still going to use the Awolowo policies, just that the implementation and oversight of the policies will be easily carried out in this present timeline due to ready made information available on pros and cons of HDI.

mrvitalis:

This is not about me ,I haven't told anyone my business on nairaland

Where did I say give the loan to importers ?I specifically said import substitution or export oriented Industry

I won't respond to your attack on my personal life

One thing u would be taught in MBA if u ever get the chance to do it is ..." If the output of Ur business is different when u are there than when u are not ..,then your management techniques is bad ....

mrvitalis:
I have always said Yorubas are social capitalist while Igbos believe in American styled capitalism ...reason we have never agree politically

Kukutenla:

If Igbos believe in American style capitalism, how come the IGR of the region is so low

mrvitalis:

Many Nigerians believe the fallacy investing in Infrastructure drives development ; this is a massive problem ,I believe this started with awolowo and his socialist and the idea stuck ,Baba was building cocoa house , nta ,Nigerian house ...big project that offers no economic benefits...how much does cocoa house generate today ?
Runing government is like running a business ...GDP is likened to business revenue ( turn over ) while government revenue is business profit

None economically viable project are like beautification of your office/business premises , people can say this man has best office space , it's pleasing to the eyes but has little or no impact on your business ...tho they are important, a struggling business like don't need beautification , we need revenue and profit ....we owe too much and can't fund our business expenses so we borrow ....but instead to buy more goods we use it to beautify our office

Nigeria don't need rail lines , we dont need second Niger bridge for now !!! our profits can't even pay staffs yet we borrow to repaint our toilet n change toilet sits to world class ones ,does that make sense ?

You need loan to buy more goods to make more profit .. in government it's creation of new tax payers by providing easy and cheap access to credit in areas you have identified we have a comparative advantage

Let's take lagos to Ibadan rail for example...it cost us about 800 billion plus .... employs less than 3000 people ,still needs government funds to run ... addition to GDP almost zero ,net revenue negative

Now imagine same 800 billion given to banks at an interest rate of say 3% banks to give them out at 10% ...each business has 3 years before loan repayment starts ...

Conditions access the loan
you must a Nigerian or lived here constantly for 15 years

You must be a business that has export potential ( your production cost must be less than international price )

Or

You must be a business that want to produce goods we import at a price less or equal to the products landing cost


You must be willing to employ 50 Nigerians minimum pay should be 300k monthly

You can get 2 billion to 10 billion

Let's say average of 6 billion is given out

133 businesses would be created ... employing minimum of 6666 jobs

If those business make an average profit of 2 billion yearly ...Nigerian profit tax is 20% ....that's a guaranteed 53 billion per year

Employee tax is 15% I think ...that's extra 36 billon per year ...that's 89 billion yearly ... remember after 3 years interest and loans payment starts

Say 40% if the business failed

You still get 53 billion in revenue as a government ....this can comfortably cover for the 40% failure of business n debt servicing would be an issue ...GDP would grow by over 2 billion dollars

But no we built rail

I would bee doing a series on this to defend my ideas ...Nigeria must move from this socialist mindset and be more capitalist to grow

mrvitalis:
I have always said Yorubas are social capitalist while Igbos believe in American styled capitalism ...reason we have never agree politically

Kukutenla:

Ok then

mrvitalis:

You all don't get me ,my point is it makes zero sense to borrow to build infrastructure ...borrow to give credit to your people, create more revenue then use the revenue after debt servicing n recurrent expenditure what ever is left invest in infrastructure

mrvitalis:

Thats exactly why the Igr is low ....companies in South east are not taxed as much a companies in the south west 90% are not taxed at all

Why should they be taxed when w have free oil money

ABBkelvin:
Good. You can discuss further input on how easy to implement this HDI into our system now, your discourse will be greatly taking into consideration from the coming administration.

ABBkelvin:
LOL, definitely we yorubas are not and will never be make money by all means possible type.


Yoruba culture and way of life is purely design to emulate and propagate social-capitalism. Yoruba don't believe in the concept of survivalism of individual based on their competency only, lifting others up through grouping and other form is the basis requirement why Yoruba has strong culture that has passes through the test of time.

I was able to deduce where Ojukwu and Awolowo would have had disagreement mostly back then base on this issue we are discussing on right now. Its fundamental to what Nigeria want and how Nigeria future will be define, instead the two smart tribe got into supremacy battle which led them relinquishing their dominance to the one tribe that tried to keep their flaw hidden and intact by using a particular connotation of "we North"

I don't see any possible solution to the point I just raise up in my last paragraph without things getting dirty and taking us back to square one....

Christistruth03:



All societies need to unite and need Social Capitalism

Go and Check out the USAs Military, School System, Police System etc

Capitalism cannot do everything

Businesses have up and down Cycles

Remember that US Capitalism grew out of enslaving others

and it was the Government that dragged the US out of the 1930s Financial Crash

The Slave Emancipation was like a Govt Welfare program for Slaves

Don’t be deceived

During the 2008 Financial Crash it was the Government who saved the US Businesses with the biggest

Welfare Check in US History

Kukutenla:

From my own insight into Nigeria's issues, we have two bring under control two big elephants in the room before we can get anything else right.
1. Local refining of petrol products
2. Electricity
If we can solve those two, both the private and public sectors will get the much needed funds to drive development forward.
Anything outside this two will just be papering over the cracks which will lead us back to square one

ABBkelvin:

We go back to the main problem here which is financial capital. Nigeria is lacking and extremely broke. What leverage do you put forth on raising the money to make those 2 major infrastructure to come to reality?

First of all to serve 220-250 million people we need nothing less than 100gigawatt of electricity generation as bare minimum which will cost nothing less than 70bliion dollar at 700m dollar per gigawatt from Siemens and the likes, to build our local refinery back to life in other to sustain our economy we will need like 30 billion dollar to set up refineries that will at least generate 1.5million bpd daily to sustain and eradicate importation of crude product.


My question here is; where do we get this 100billion dollar to Kickstart this massive solution oriented programme/project for the revival of our economy? ?

Also remember in all this we are already servicing debts that is way larger than our total earning from crude export yearly so please don't mention the crude as a way of repaying back foreign loan.

So where do you think we will get the money needed? ?

Kukutenla:

Really? Average production cost of a bag of pure water is 150? Where is that?
And you really think a 30KVA gen will carry 7 water sealing machine? Which means 1 machine consumes less than 5KW? That's not true bros. What about the water treatment plant then? What powers it? How do you also pump the water or does water come out by itself? What about lighting for the factory? You only calculated for the packaging machine and you jumped to conclusion. Na wa o.

CrownOfClay724:


Do you have a picture of 30kva gen?
I want to check something.

mrvitalis:

Many Nigerians believe the fallacy investing in Infrastructure drives development ; this is a massive problem.

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

mrvitalis:

Many Nigerians believe the fallacy investing in Infrastructure drives development ; this is a massive problem. Nigeria must move from this socialist mindset and be more capitalist to grow

Biodun556:




He said govt should not build road instead give him the money to do business.

He collected money buy goods coming on bad road. After spending hours on the road he got accident and died, all goods destroyed

My experience in Lagos

Anytime govt build road in place shortly after, you will see businesses springing up, marwa and okada will start pilling up, businesses developing around the new road. That's the power of infrastructure

fredwill1357:
Why do you dislike FDI that much, because of repatriation of funds?

fredwill1357:
CC: seun. You have been proposing some economic solutions to Nigeria problems. What do you think of this guy's theory.

mrvitalis:

I'm ready to debate anyone on this... We can meet on Twitter space

mrvitalis:

Many Nigerians believe the fallacy investing in Infrastructure drives development ; this is a massive problem ,I believe this started with awolowo and his socialist and the idea stuck ,Baba was building cocoa house , nta ,Nigerian house ...big project that offers no economic benefits...how much does cocoa house generate today ?
Runing government is like running a business ...GDP is likened to business revenue ( turn over ) while government revenue is business profit

None economically viable project are like beautification of your office/business premises , people can say this man has best office space , it's pleasing to the eyes but has little or no impact on your business ...tho they are important, a struggling business like don't need beautification , we need revenue and profit ....we owe too much and can't fund our business expenses so we borrow ....but instead to buy more goods we use it to beautify our office

Nigeria don't need rail lines , we dont need second Niger bridge for now !!! our profits can't even pay staffs yet we borrow to repaint our toilet n change toilet sits to world class ones ,does that make sense ?

You need loan to buy more goods to make more profit .. in government it's creation of new tax payers by providing easy and cheap access to credit in areas you have identified we have a comparative advantage

Let's take lagos to Ibadan rail for example...it cost us about 800 billion plus .... employs less than 3000 people ,still needs government funds to run ... addition to GDP almost zero ,net revenue negative

Now imagine same 800 billion given to banks at an interest rate of say 3% banks to give them out at 10% ...each business has 3 years before loan repayment starts ...

Conditions access the loan
you must a Nigerian or lived here constantly for 15 years

You must be a business that has export potential ( your production cost must be less than international price )

Or

You must be a business that want to produce goods we import at a price less or equal to the products landing cost


You must be willing to employ 50 Nigerians minimum pay should be 300k monthly

You can get 2 billion to 10 billion

Let's say average of 6 billion is given out

133 businesses would be created ... employing minimum of 6666 jobs

If those business make an average profit of 2 billion yearly ...Nigerian profit tax is 20% ....that's a guaranteed 53 billion per year

Employee tax is 15% I think ...that's extra 36 billon per year ...that's 89 billion yearly ... remember after 3 years interest and loans payment starts

Say 40% if the business failed

You still get 53 billion in revenue as a government ....this can comfortably cover for the 40% failure of business n debt servicing would be an issue ...GDP would grow by over 2 billion dollars

But no we built rail

I would bee doing a series on this to defend my ideas ...Nigeria must move from this socialist mindset and be more capitalist to grow

mrvitalis:

Name one infrastructure that can pay for itself

Instead provide that more at get low interest to banks so they can loan it to busines cheaper

mrvitalis:

90% of the money won't be paid back if government gives out the loan ...but that's not the case here ...banks are to be given the loan with key instructions ...your profit to reloan this money won't be more than 10%

You must loan to only this sectors

Loaning is bank business they know who and who needs the loans

Infrastructure are things u build with revenue not loan ....it makes no sense borrowing to build infrastructure